Credit Card Industry Digital User Experience Audit Released by Corporate Insight: Critical ways Issuers Can Improve Account Servicing and Rewards Platforms

by on Nov 15, 2019

New audit pinpoints credit card industry user experience best practices, showing the crucial roles rewards programs and the digital experience play in staying top of wallet

NEW YORK – November 14, 2019 – Corporate Insight, the leading provider of bank and card? competitive intelligence and customer experience research, today announced the launch of its Credit Card Digital Audit (Credit Card Industry Digital User Experience Audit). The new audit service provides an in-depth benchmarking of the credit card industry digital user experience. The audit identifies competitive strengths, weaknesses and opportunities for improvement, enabling card issuers to set the right development priorities and deliver a best-in-class digital experience.

“Our research identified many critical areas for improvement among the leading card issuers if they want to deliver compelling digital experiences,” said Michael Ellison, president of Corporate Insight. “Our audits are instrumental in helping clients compete in the increasingly competitive arenas of card management and offering attractive award programs.”

The audit framework, grade definitions and criteria are based on credit card industry user experience best practices identified by Corporate Insight’s Credit Card Monitor research service, which tracks and analyzes the prospect and authenticated experience from leading credit card issuers. Our latest survey found that competitive rewards are the key battleground to win new card holders or earn top-of-wallet status, as over half (57%) of 1,884 card holders surveyed identified attractive rewards as a primary reason they selected a card. Additional key findings include:

  • Nearlythree-quarters (70%) of respondents stated that their provider’s website was “very important” or “extremely important” while 75% of mobile users felt similarly about the mobile app.
  • Many customers (61%) who track their account online log into their issuer’s website at least once per week, while even more respondents (75%) do so on the mobile app.
  • The most common activity was monitoring account balance (78%), followed by 70% of consumers who made a payment.

Eight core categories are featured:

  • Website Design & Usability
  • Mobile
  • Account Information
  • Alerts
  • Account Servicing
  • Payments
  • Rewards
  • Prospect Experience

For more information on the new Credit Card Industry Digital User Experience Audit, click here.

About Corporate Insight

Corporate Insight delivers competitive intelligence, user experience research and consulting services to the nation’s leading financial, health and philanthropic institutions. As the recognized industry leader in customer experience research for over 25 years, we have been the trusted partner to leading corporations who rely on our competitive intelligence to improve their digital capabilities and user experience.

For additional information on Corporate Insight: www.CorporateInsight.com/About-Us

Media inquiries or to schedule an interview with an analyst, contact:

Will Maroni

212-994-7562

William.Maroni@rfbinder.com