Improving Card Issuers Rewards Digital Platforms

Corporate Insight, a specialist of bank and card competitive intelligence and customer experience research, has launched 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 Monitorresearch 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: 

  • Nearly three-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

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