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Bankingtech: Consorsbank the Pursuit of App-iness

2 Nov 16
Alex Aitken

New retail banking apps are released onto the market daily – from traditional banks entering the app era to new disruptive payment services. What does each one of these apps have in common? The need to perform.

When Consorsbank, part of BNP Paribas Germany, launched its retail app, it knew performance mattered. Stephan Spies, senior team head, web & apps team Turing, IT digital solutions at Consorsbank, shares how it delivered an app that consumers wanted.

A massive 85% of shoppers are unlikely to go back to a retail banking app after a bad mobile experience, according to a BoldTalk survey of 8,000 consumers across seven countries. Another survey showed that, of 2,000 people in the UK polled by YouGov, almost half (45%) said the promise of a faster and more convenient electronic payment service would encourage them to move their account to a different bank. This shows both a clear opportunity and threat – innovate to give customers what they want, or lose out to competition.

Read more: Bankingtech