Financial Institutions Scored on How They Present Financial Products and Services Online

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New Report Points to the Future of Retail Banking and Investing: Improving the Way Products and Services are Presented Online

People visit financial web sites with a specific goal. They want to do something with money they either have or would like to have. Most of the sites we reviewed have failed to take heed of this core and seemingly obvious user goal.

Leading web researchers Change Sciences Group released a 70 page report today comparing how 21 bank and investing firm web sites present their products to consumers online.

To jump an overview of the report visit: http://www.ChangeSciences.com/Reports/Financial-Services-Product-and-Service-Page-Design.

Increasingly people use financial web sites to learn the ins and outs of sometimes complex financial products and solutions. What they find can variously inform and persuade, or confuse and frustrate.

"People visit financial web sites with a specific goal. They want to do something with money they either have or would like to have. Most of the sites we reviewed have failed to take heed of this core and seemingly obvious user goal. Too often firms lead with complex messages about product or service attributes making users hunt for a simple answer to the basic question: What do you have and how does it help me meet my immediate need? Only with this core need addressed can firms begin to think about cross-sell and up-sell," said Pamela Pavliscak, a Change Sciences partner.

The three best financial services sites overall are BB&T, Bank of America and PNC.

Financial web sites included in the research are: Ally, Ameriprise, Bank of America, BB&T, Capital One, Charles Schwab, Chase, Citibank, Discover, E*Trade, EverBank, Gap, HSBC, ING Direct, PNC, SunTrust, T Rowe Price, TD Ameritrade, Total Merrill, US Bank, USAA, and Wells Fargo.

The report looks not just at the clarity of text. The methodology accounts for the complete interactive experience people have of the sites. The complete interactive experience involves reading, pointing, clicking, scrolling, pressing keys and of course thinking. Cognitive processing is reflected in metrics indicating delight, confusion and annoyance.

The new report also reflects an enhancement to the Change Sciences methodology, comparing the user experience of financial services sites with five leading online retailers. The comparison with retailers provides a meaningful baseline and points to a number of enhancements financial firms can make. It also shows that financial firms are often not alone in neglecting the principles of good interaction design.

Visit the Change Sciences site to download a report fact sheet including the full site rankings, a metrics overview, and sample charts: http://www.ChangeSciences.com/Reports/Financial-Services-Product-and-Service-Page-Design.

About Change Sciences Group
Change Sciences was founded in 2000 to bring advanced user experience research methodologies to the web. The results produced by its Kantuit(TM) interactive user experience modeling technology have been utilized by dozens of the world’s top firms to improve how prospects, customers, and employees experience interactive applications.

Contact:
Rhonda Mills
Change Sciences Group, Inc.
888-864-1160 x731
http://www.changesciences.com

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Rhonda Mills
Change Sciences Group
888-864-1160 ext. 731
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