September 18, 2017
Just a decade ago, we are still running to bank branches and ATMs to complete our daily finance activities such as cheque deposit and fund transfer. Today, 73.1% of Malaysians are using internet banking and this prompted the banks to go one step further by introducing mobile banking apps.
To date, 11 banks in Malaysia have their own mobile banking apps for its customers and they continue to bring new features and improvements in order to impress users like you and me. But just how happy are you with the mobile banking app you are using now? Features, layout, safety concerns and accessibility are important for a mobile banking app to serve a customer.
CompareHero.my has conducted its first Mobile Banking Apps Awards in Malaysia. Known as the CompareHero.my 2017 Mobile Banking Apps Awards, today we are happy to announce the winners.
CompareHero.my has reviewed all 11 mobile banking apps in Malaysia for the CompareHero.my 2017 Mobile Banking Apps Awards.
|Bank Apps||Layout||Functionality||Security||User-Friendliness||Final Ranking|
|Standard Chartered Mobile Banking (Malaysia)||2.9||3||4||3.7||3.4|
|Hong Leong Connect||3.3||3.4||4||2.75||3.4|
|HSBC Mobile Banking||2.8||2.6||3||3.2||2.9|
|OCBC Malaysia Mobile Banking||2.3||2.5||3||3.4||2.8|
|Bank Islam i-Info||1.8||1.8||1||3||1.9|
Check out the summary below to know more about the app, read user reviews and our thoughts.
Sham Anuar ★
“I thougth my phone had a problem but turn out it is your part. Waited OTP to check my bank balance but I ended up going to the ATM to check. Notwithstanding of your branches are scarce in Malaysia. Your incompetence do not amuse me. Not at all”
Desmond Chan ★
“Takes forever to load the app and the OTP is often delayed. Needs massive improvement. Learn from Maybank2u maybe?”
Tengku Haeriz ★
“The app freezes when I try to make a transfer, fix this quick as this has been going on for too long. What is the point of the app without easy access?”
Winson Loh ★★★★
“Good as it’s quite handy to hold a bank in your hand”
The app may needs an update to its user interface and new features to be competitive compared to the top performing mobile banking apps such as Maybank and Citibank. We love the feature of Money Insights, which is a first of its own among the local mobile banking apps. Hopefully, OCBC Malaysia can maintain this feature after an update and perhaps enhance it with additional functions such as credit card management.
We also hope the developer can look into fixing the bugs issue for users to login safely and consistently.
These apps were scored based on:
A higher score of 4-5 meant the app had a simple yet effective design that added to its user’s experience. The app’s layout should also captivates user’s attention while not being too confusing at the same time.
A score of 3 is given to the apps that have adequate layout design. However, there are still some rooms for improvement such as updates for the latest user interface (UI) and perhaps more exciting colors or graphics.
Apps that received a score of 1-2 meant that the layout was not updated, or it was not on par with the other apps you see in store. Most of them required some updating in terms of color choice, fonts, menu layout and also visibility.
A higher score of 4-5 was given to mobile banking apps that have more than 8 features and were one step ahead of the rest, such as exclusive promotions, in store payment, manage global accounts and card-less withdrawal at ATM machines.
A moderate score of 3 was given to mobile banking apps that have more than 5 features including balance check, fund transfer, bill payment, prepaid reload and credit card management.
A lower score of 1-2 was given to mobile banking apps that provided (or failed to provide) basic or average financing functions as mentioned above.
We tested the security features based on a consumer’s perspective to determine the level of safety for a user while using the app.
We graded the apps based on:
A high score of 4-5 was given to the apps that have incorporated biometric login system, provide adequate security action plans, and also fast responsiveness to resolve customers’ issue in fraud or identity theft.
A moderate score of 3 was given to the apps that have adequate security system and biometric login system. However, it may needs to up its game in terms of prevention and educational efforts.
A low score of 1-2 was given to those that do not have login system or insufficient security steps to ensure the safe usage of the apps by the users.
A high score of 3-5 was given to those that had earned high favourability from the users based on the apps’ transition, responsiveness, practicality and also banks’ efforts to resolve users’ issues.
A low score of 1-2 was given to the apps that did not meet the average users’ demand and was filled with technological bugs like malfunctions, errors, and bad transitions.
So far, we noticed that almost half of the banks have at least updated or replaced their mobile banking apps to a newer one in the past six months, with better features and functions for the consumers.
OCBC Bank is the longest established Singapore bank, formed in 1932 from the merger of three local banks, the oldest of which was founded in 1912. OCBC Bank and its subsidiaries offer a broad array of specialist financial and wealth management services, ranging from consumer, corporate, investment, private and transaction banking to treasury, insurance, asset management and stockbroking services.
Find out the financial products offered by OCBC Malaysia here: