Retails Banks Need Great Broadband Too

I have frequently blogged about how I believe that Internet Service Providers need to focus less on the network itself – which is becoming a hygiene factor – and emphasise the quality of the content available on their network. What you can view on a network is becoming more of a differentiator than the network itself.

But an interesting new report from the British Bankers Association (BBA) has urged the British government to put pressure on the network providers to improve the quality of their 3G and 4G service. The reason is that retail banks are finding that customers are relying more and more on their phone for most customer service activities and therefore when apps don’t work as they should, the banks find that they are dealing with customer issues that are actually related to the network.

In the first quarter of this year, UK bank customers made transfers worth £2.9bn on their phones and with over half a million British home only able to access very slow speeds, mobile access is also a lifeline for a large group of customers.

It is clear that consumers expect a reliable and fast network when they are at home and on the move. This is an interesting move by one industry body though, to suggest that another industry needs to get their act together because banking customers are not satisfied with app performance.

The BBA has said that mobile banking through apps is a game-changer for their industry, which is no surprise as many services are going mobile, but what does it mean for the banks when the quality of their service is only as good as the networks provided by the telcos?

Leave a comment here on the blog or tweet me on @simondillsworth if you have any thoughts on who is really responsible for ensuring our networks are good enough.

bank secrecyPhoto by Thomas8047 licensed under Creative Commons.

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This entry was posted in Current Affairs, Customer Service, Financial Services, Technology, Telecoms and tagged , , , , , , , , , , , . Bookmark the permalink.

One Response to Retails Banks Need Great Broadband Too

  1. Excellent and very cool idea and the subject for retails business

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