Banks can take a cue from wallets on improving customer experience and thereby drive adoption. The low adoption of mobile or online banking highlights the basic gaps in overall proposition currently offered by banks. Customer research done on 3000 respondents concludes that the topmost reasons for not considering mobile or internet banking are not misconceptions about safety, unreliable internet connectivity, or fear of making a mistake; they are simply inertia, lack of awareness, and unwillingness to commit time to understand and adopt a new tool.
