Digital Banking: Optimisation for Students in Switzerland
At a time when digital interactions are shaping the banking experience, young customers' preferences have fundamentally changed. Physical bank visits become less frequent and therefore it is essential to design an alluring digital journey to retain and attract customers.
Natalija Paunovic & Nina Stolz, 2023
Bachelor Thesis, UBS Switzerland AG
Betreuende Dozierende: Marco Canipa
Keywords: Digital Banking
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The goal is to optimise Digital Banking for Swiss students and improve the user experience for existing and new clients. UBS benefits from tailored insights and recommendations and can differentiate itself from its competitors. Weaknesses in UBS's current offering were addressed to engage student customers. Scholarly articles and reports form the basis of our literature review, enriching our analysis and informing our recommendations. The work covers three segments and includes the terms of Neobank, the analysis of Nordic banks, and the results of the digital banking survey.
This bachelor thesis covers several key elements. Firstly, we examined the current offerings of both UBS and its competitors. Secondly, an empirical phase was conducted to analyse the specific needs of students. Additionally, we explored technological innovations that could be integrated into UBS' Digital Banking services.
Digital innovation is central to banking. UBS can thrive by adapting to evolving trends: Neobanks and Mobile Banking will reshape the industry. Prioritising simplicity, Fintech collaboration and client centricity is driving change. UBS is positioning itself as an industry leader through collaboration and innovation, even as it faces challenges from Fintech start-ups and tech giants.
UBS can learn a few things from Nordic Neobanks, such as improving Mobile Banking, personalisation and addressing the needs of students. A mobile-first mentality and solid customer service are crucial.
Neobank's analysis highlights challenges in usability and opportunities in advice. The Nordic example shows the power of regulation and a connected ecosystem.
In Switzerland, there is a gap in Mobile Banking: UBS is functionally excellent, but the user interface needs improvement. A mobile-friendly approach, larger fonts, an intuitive layout, and user-requested features such as ATM search are essential.
UBS is consolidating its digital leadership position through proactive change and agility. Following the principle "Change before you have to", UBS is consolidating its position in Digital Banking and sha
Studiengang: Business Administration International Management (Bachelor)
Fachbereich der Arbeit: