I started off my creating a google Forms to see what matters to people who using banking and banking apps as well as what they use it for. I asked 6 different questions as to make the survey shorter and more appealing to fill out whilst gathering the key points. These were the questions:
For my survey I got 11 responses which is a small sample size but still used this to effect my decisions.
The target age for the app is 18-25 year olds so 100% of the data I gathered was relevant as everyone fell within that target range group.
For asking what accounts people have , the majority have both a Classic Bank account as well as a Digital bank whilst around 1/4 of people still remain only having a classic bank but very few just have digital bank. This is down to the limited capabilities of the digital bank especially for students who may be looking for things such as an overdraft.
When asked why people use a digital account the general consensus was also that it is more convenient and also easier to transfer money to other people. This may be down to the fact that when transferring on a digital bank you don’t need the sort code and account number but just the users profile name or email etc
2/3 of people thought that digital banks were there preferred choice, this may also be down to convivence and also the fact that there are no credit vets done to set up these accounts and it can be down within minutes.
Majority also said there preferred method of customer service was online via a chatroom. This supports digital banking as it is the main form of support as no physical branches are available. This is also the most popular as anyone can do it from anywhere , removing the aspect of leaving there home.
For why people use a bank account it was pretty much spread equally showing that everyone uses an account for different reasons and you need to accommodate for all these different users with different features.
HSBC