Welcome!

API Journal Authors: Elizabeth White, Carmen Gonzalez, Liz McMillan, Pat Romanski, Harry Trott

News Feed Item

Sub-Standard User Experience of Online Car Loans Plague Indian Banks Websites

HYDERABAD, India, November 8, 2012 /PRNewswire/ --

- Out of 32 Prominent Banks in India, Only 1 Offers Decent User Experience to Customers Seeking Car Loans Online

- Customers Actually Turn Away From Other Websites Due to Poor Usability

 

Released on the World Usability Day, the research report Acquiring Car Loan Customers Online, UX Benchmark Research 2012, throws shocking insights about the poor usability of banking websites in India that offer car loans to customers. This is the first-ever syndicated UX research report in India that quantitatively benchmarks online user experience of financial institutions.

According to Ripul Kumar, Director User Research at Kern, "It is disturbing to see how poor usability of online car loans websites turns away a significant chunk of customers everyday." "Despite the Internet being a valuable channel for customer acquisition, banks neglect the user experience of their websites," he adds.

According to the report, the top 5 banks in the UX Index, in alphabetical order, are Axis Bank, HDFC Bank, ICICI Bank, State Bank of Hyderabad, and Tata Capital. The leading bank has a UX Index score of 75.31, while the worst is 18.07. The runners-up has a UX Index of 58.32, poor enough to turn customers away! Although foreign banks do offer car loans in India, none offer them online. New private banks lead the pack with an average score of 52.51. Contrary to popular belief, public sector banks actually provide overall better user experience than private banks. Out of 32, only 1 bank provides the complete process of applying for car loans online.

This 100 page report analyzes the relative UX of competing websites. Illustrated with more than 110 annotated screen shots of featured websites, graphs and tables; the report provides more than 60 major UX insights. Banks can instantly use these to increase online engagement and conversions. Supplemented the insights are over 70 design recommendations along with industry best practices.

This benchmark UX report will be useful for product owners, customer experience managers, marketing heads, digital channel owners, and chief executives of financial institutions. Institutions planning to launch their online services will significantly benefit from the research findings. Syndicated research companies will find this specialized report useful for banking industry analysis.

The report comes in at a time when the volume of car financing is increasing rapidly at 40% per year and active Internet users in India are more than 11.1 Crore. Banks and leading financial institutions now consider the Internet as an important channel to offer loan services to customers.

Financial institutions covered in the research report are Andhra Bank, Axis Bank, Bank of India, Bank of Baroda, Canara Bank, Central Bank of India, Corporation Bank, Dena Bank, Federal Bank, HDFC Bank, ICICI Bank, IDBI Bank, Indian Bank, IndusInd Bank, Karnataka Bank, Karur Vysya Bank, Kotak Mahindra bank, Mahindra Finance, Oriental Bank of Commerce, Punjab National Bank, State Bank of Bikaner and Jaipur, State Bank of India, South Indian Bank, State Bank of Hyderabad, Sundaram Finance, Tata Capital, The Saraswat Cooperative Bank, UCO Bank, Union Bank, United Bank of India, Vijaya Bank, and Yes Bank.

About Kern

Kern Communications Pvt. Ltd. is a global user experience consulting company. Headquartered in Hyderabad, India, Kern has been improving the user experience of banking technology, medical products, mobile phones, enterprise software, online gaming, and aviation services for the past one decade.

Kern's user experience consulting services are:

            • Expert usability reviews

            • Lab-based usability testing

            • Ethnographic user research

            • User experience design

            • Innovation consulting

Kern consults with global clients like Nokia, Research in Motion (Blackberry), Samsung, Sony, Google, Philips Healthcare, Lufthansa, ESPN, Standard Chartered Bank, and others to innovate and improve the user experience of products and services. Kern also works closely with leading user experience (UX) research agencies across the globe. To know about Kern, go to http://www.kern-comm.com

Kern is a part of International User Experience Partners (IUXP), a global alliance of leading UX companies. Together, IUXP provides UX services across the globe. Get more information about International UX Partners network at http://www.iuxpartners.com

Primary Media Contact : Ripul Kumar, [email protected], 91-98-66342166

Secondary Media Contact : Amit Kumar, [email protected], 91-97-04501135

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

@ThingsExpo Stories
Information technology is an industry that has always experienced change, and the dramatic change sweeping across the industry today could not be truthfully described as the first time we've seen such widespread change impacting customer investments. However, the rate of the change, and the potential outcomes from today's digital transformation has the distinct potential to separate the industry into two camps: Organizations that see the change coming, embrace it, and successful leverage it; and...
The 20th International Cloud Expo has announced that its Call for Papers is open. Cloud Expo, to be held June 6-8, 2017, at the Javits Center in New York City, brings together Cloud Computing, Big Data, Internet of Things, DevOps, Containers, Microservices and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding business opportunity. Submit your speaking proposal ...
You have great SaaS business app ideas. You want to turn your idea quickly into a functional and engaging proof of concept. You need to be able to modify it to meet customers' needs, and you need to deliver a complete and secure SaaS application. How could you achieve all the above and yet avoid unforeseen IT requirements that add unnecessary cost and complexity? You also want your app to be responsive in any device at any time. In his session at 19th Cloud Expo, Mark Allen, General Manager of...
20th Cloud Expo, taking place June 6-8, 2017, at the Javits Center in New York City, NY, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy.
DevOps is being widely accepted (if not fully adopted) as essential in enterprise IT. But as Enterprise DevOps gains maturity, expands scope, and increases velocity, the need for data-driven decisions across teams becomes more acute. DevOps teams in any modern business must wrangle the ‘digital exhaust’ from the delivery toolchain, "pervasive" and "cognitive" computing, APIs and services, mobile devices and applications, the Internet of Things, and now even blockchain. In this power panel at @...
Internet of @ThingsExpo has announced today that Chris Matthieu has been named tech chair of Internet of @ThingsExpo 2017 New York The 7th Internet of @ThingsExpo will take place on June 6-8, 2017, at the Javits Center in New York City, New York. Chris Matthieu is the co-founder and CTO of Octoblu, a revolutionary real-time IoT platform recently acquired by Citrix. Octoblu connects things, systems, people and clouds to a global mesh network allowing users to automate and control design flo...
Bert Loomis was a visionary. This general session will highlight how Bert Loomis and people like him inspire us to build great things with small inventions. In their general session at 19th Cloud Expo, Harold Hannon, Architect at IBM Bluemix, and Michael O'Neill, Strategic Business Development at Nvidia, discussed the accelerating pace of AI development and how IBM Cloud and NVIDIA are partnering to bring AI capabilities to "every day," on-demand. They also reviewed two "free infrastructure" pr...
Financial Technology has become a topic of intense interest throughout the cloud developer and enterprise IT communities. Accordingly, attendees at the upcoming 20th Cloud Expo at the Javits Center in New York, June 6-8, 2017, will find fresh new content in a new track called FinTech.
SYS-CON Events has announced today that Roger Strukhoff has been named conference chair of Cloud Expo and @ThingsExpo 2017 New York. The 20th Cloud Expo and 7th @ThingsExpo will take place on June 6-8, 2017, at the Javits Center in New York City, NY. "The Internet of Things brings trillions of dollars of opportunity to developers and enterprise IT, no matter how you measure it," stated Roger Strukhoff. "More importantly, it leverages the power of devices and the Internet to enable us all to im...
"Dice has been around for the last 20 years. We have been helping tech professionals find new jobs and career opportunities," explained Manish Dixit, VP of Product and Engineering at Dice, in this SYS-CON.tv interview at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
An IoT product’s log files speak volumes about what’s happening with your products in the field, pinpointing current and potential issues, and enabling you to predict failures and save millions of dollars in inventory. But until recently, no one knew how to listen. In his session at @ThingsExpo, Dan Gettens, Chief Research Officer at OnProcess, discussed recent research by Massachusetts Institute of Technology and OnProcess Technology, where MIT created a new, breakthrough analytics model for ...
"At ROHA we develop an app called Catcha. It was developed after we spent a year meeting with, talking to, interacting with senior citizens watching them use their smartphones and talking to them about how they use their smartphones so we could get to know their smartphone behavior," explained Dave Woods, Chief Innovation Officer at ROHA, in this SYS-CON.tv interview at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
"ReadyTalk is an audio and web video conferencing provider. We've really come to embrace WebRTC as the platform for our future of technology," explained Dan Cunningham, CTO of ReadyTalk, in this SYS-CON.tv interview at WebRTC Summit at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Whether your IoT service is connecting cars, homes, appliances, wearable, cameras or other devices, one question hangs in the balance – how do you actually make money from this service? The ability to turn your IoT service into profit requires the ability to create a monetization strategy that is flexible, scalable and working for you in real-time. It must be a transparent, smoothly implemented strategy that all stakeholders – from customers to the board – will be able to understand and comprehe...
In his keynote at 18th Cloud Expo, Andrew Keys, Co-Founder of ConsenSys Enterprise, provided an overview of the evolution of the Internet and the Database and the future of their combination – the Blockchain. Andrew Keys is Co-Founder of ConsenSys Enterprise. He comes to ConsenSys Enterprise with capital markets, technology and entrepreneurial experience. Previously, he worked for UBS investment bank in equities analysis. Later, he was responsible for the creation and distribution of life sett...
The WebRTC Summit New York, to be held June 6-8, 2017, at the Javits Center in New York City, NY, announces that its Call for Papers is now open. Topics include all aspects of improving IT delivery by eliminating waste through automated business models leveraging cloud technologies. WebRTC Summit is co-located with 20th International Cloud Expo and @ThingsExpo. WebRTC is the future of browser-to-browser communications, and continues to make inroads into the traditional, difficult, plug-in web co...
Successful digital transformation requires new organizational competencies and capabilities. Research tells us that the biggest impediment to successful transformation is human; consequently, the biggest enabler is a properly skilled and empowered workforce. In the digital age, new individual and collective competencies are required. In his session at 19th Cloud Expo, Bob Newhouse, CEO and founder of Agilitiv, drew together recent research and lessons learned from emerging and established compa...
WebRTC is the future of browser-to-browser communications, and continues to make inroads into the traditional, difficult, plug-in web communications world. The 6th WebRTC Summit continues our tradition of delivering the latest and greatest presentations within the world of WebRTC. Topics include voice calling, video chat, P2P file sharing, and use cases that have already leveraged the power and convenience of WebRTC.
20th Cloud Expo, taking place June 6-8, 2017, at the Javits Center in New York City, NY, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy.
Extracting business value from Internet of Things (IoT) data doesn’t happen overnight. There are several requirements that must be satisfied, including IoT device enablement, data analysis, real-time detection of complex events and automated orchestration of actions. Unfortunately, too many companies fall short in achieving their business goals by implementing incomplete solutions or not focusing on tangible use cases. In his general session at @ThingsExpo, Dave McCarthy, Director of Products...