«Assistant instead of app in the future?»
Having launched mobile banking and e-banking, Hypothekarbank Lenzburg lets its customers choose the channel. According to Massimo Catrambone, Technology & Development Partner Manager at Finstar, digital and analog platforms will continue to supplement each other in the future, and the way in which they will do so is yet to be determined.
’Hypi’ Lenzburg is one of Switzerland’s most digital banks. How important are mobile banking and e-banking to the bank’s reputation?
The medium is the message. Without modern digital channels, firms cannot claim to be forwardlooking. For banks, simply having e-banking will be insufficient. In the future, the most digital bank will maintain open interfaces, because the customer will not just want e-banking, but also other cool fintech firms’ apps, which they can combine with the ‘Hypi’ banking app. We make that possible with our open banking APIs.
Do Finstar and ‘Hypi’ Lenzburg attach much importance to such titles?
What matters most to us is customer satisfaction. That is more important than any title. However, if you do something well, accolades are often included. They are the result and not the goal. Furthermore, they are merely snapshots. If we are to be the most digital bank, we must keep reinventing ourselves and continue to work in a focused manner.
What has (and is) development work focused on in
For the customer, it has to keep getting faster and simpler. If the customer sees that digital channels are quick, easy, transparent and reliable, then they will stay with mobile banking, with e-banking, and with the bank that offers them these services together with a personal consultation.
How has Finstar addressed user experience and
We have collaborated intensively on these key aspects with the University of Applied Sciences and Arts Northwestern Switzerland. We jointly developed a design that outlines interactions and develops prototypes. The results were validated with diverse user groups. We visited business customers to see how they work and we arranged incorporation of these findings into product development.
For acceptance of digital solutions, security is key. How do you deal with this issue?
Our two-factor authentication with two isolated apps gives our solution an advantage. It makes things a little more complex at first, because two apps have to be set up, but it provides greater security.
What are you particularly proud of, personally?
In my view, the mobile banking has turned out really well. Not because of the quantity, but the quality of the functions. Also because of the ease with which banking transactions can be conducted.
And what does the future hold for digital channels?
Maybe there will no longer be any need for mobile banking because we will all conduct banking transactions with the aid of a virtual assistant. Whether it is voice-controlled or gesture-controlled doesn’t matter at all, the only prerequisite is a platform as an enabler. Consequently, we need APIs with which we can seamlessly combine any number of front ends and apps to form a large whole. Maybe mobiles will no longer be needed, but in order for our customers to be able to conduct their banking transactions easily and reliably, a bank with a modern IT platform and interfaces will be essential. Therefore, despite contrary expert opinions, there will be a need for banks, as long as these adapt to technological progress and customer requirements. How often have people made inaccurate predictions as a result of not being open to a different future?
Please send your questions on e-banking and mobile banking to: