SOURCE: Virtual Hold Technology
AKRON, OH--(Marketwire - Oct 16, 2012) - Checking on account balances and viewing transaction histories are the most common tasks customers perform in financial mobile apps, according to a study from Virtual Hold Technology® (VHT®), a world leader in conversation strategies that bridge the gap between customers using self-service portals and the people who can help. But more than 70% of users encountered problems such as apps freezing or dropped internet connections that prevented them from task completion, the study shows.
The study, conducted for VHT by The Adcom Group, investigates how customers engage with brands using smartphones. It takes a close look at consumers who use mobile apps to perform a variety of tasks in real time, the problems they encounter completing those tasks and the behavior that results. More than 94% of those who have downloaded financial smartphone apps use them to check account balances, while 90% view transaction history. Sixty-five percent of users transfer funds while 60% schedule or modify payments or online bill-pay. Less than 1% deposit checks, locate ATMs, cash in reward points or send money to others using financial smartphone apps.
But a variety of problems, such as the app crashing or freezing (28.1%), dropped internet connection (26.4%) or insufficient transaction details and filtering options (25.3%), prevented users from completing the task. Seventy-two percent of users said they had become frustrated while using an app because they encountered difficulty completing a task or achieving a goal. Hurdles also included problems opening, logging in or setting up the app, missing pending or historic transactions, and other difficulties.
"Customers today who try to use self-service within mobile apps become extremely frustrated when these options fail and they have to start over again to resolve a problem or complete a task by calling customer service and waiting on hold," VHT CEO Wes Hayden said. "Our Conversation Bridge® tap-for-a-callback technology relieves this frustration and transforms their experience."
VHT's callback with context solution also includes customer data, so customers do not have to start over in a process by repeating information.
VHT's mobile conversation strategy, created for businesses that care about customer relationships and brand image, helps consumers achieve their goals more conveniently. The company's new Conversation Bridge is a simple, multichannel solution for blending automation with the human touch. It gives today's customers the help they need at key touch points so brand interactions are seamless and therefore more satisfying, and companies a simple and cost-effective tool for improving customer satisfaction.
About Virtual Hold Technology® (VHT®)
VHT's Conversation Bridge® is a simple solution with huge impact that provides customers a consistent experience no matter how they try to contact you. VHT's intelligent callback solutions prepare businesses for next-generation communications channels, such as mobile apps and internet-connected TV consoles, by enabling context data to be passed from these channels to existing routing and screen-pop systems. To learn more about how VHT can save your company money, optimize your customer interactions and transform your customer's experience, visit www.conversationbridge.com or email email@example.com.