2015 Indian Mobile Banking Functionality Benchmark

To understand the maturity of mobile banking apps in India, we used our Mobile Banking Functionality Benchmark methodology to evaluate the retail mobile banking apps of five large banks in India on 41 criteria. Indian consumers increasingly use mobile phones to research, buy, and recommend products and services. This is the mobile mind shift — and it's rapidly changing customer expectations. Indians want brands, including banks, to engage with them on their platform of choice. The explosive growth in the use of smartphones and wireless Internet in India means that the majority of the country's mobile subscribers will own a smartphone within five years. For many Indians, smartphones will be the first and only gateway to the Internet — and that will define their expectations. Most banks have mobile websites that are more mature than their mobile apps — so they need to refocus on building quality smartphone apps that have the right blend of functionality and user experience. This report is intended to help eBusiness and channel strategy professionals identify good practices and plan improvements to their mobile banking services.