Quarter of top 50 UK finance brands have no mobile presence, says IAB report

Almost a quarter (24 per cent) of the 50 top-spending UK finance brands have no mobile presence nor strategy, according to the Internet Advertising Bureau’s (IAB) mobile audit.

The audit, which was conducted between January and February 2014, tracked the mobile presence of finance brands that are the biggest advertising spenders in the UK.

It revealed that 24 per cent of the 50 brands have no mobile site nor app, while 78 per cent of those surveyed don’t have a responsive web design site, albeit far more than their counterparts in the retail and travel sectors, of which only two per cent and four per cent have responsive sites respectively, according to the IAB’s 2013 studies.

The IAB also concluded that the majority of brands weren’t optimising the full consumer journey, with 58 per cent of those audited having not optimised their data capture form on their mobile websites.

Apps fared better, with 70 per cent of the brands owning one, spanning a variety of features. Nearly half (43 per cent) of the apps had a ‘find your nearest cash point’ feature, while 64 per cent let customers transfer money between accounts.

Just over half (54 per cent) of the brands surveyed are optimising their search for mobile, to help customers find them more easily while on the move, while 62 per cent have a click-to-call feature on their mobile-ready websites.

Three brands stood out as having the most advanced, successful mobile strategy – Bupa, Hiscox and Natwest – all of which have a mobile site, along with mobile and tablet apps for both Apple and Google Play app stores.

IAB’s mobile and operations director, Jon Mew said: “It’s evident that whilst some brands have really grasped the fundamentals of mobile marketing some are still lagging behind. We hope to work with these brands more throughout 2014 to help them understand the possibilities and opportunities that mobile can offer.”

Hiscox’s marketing director, Will Abbott added: “Hiscox is delighted to have been recognised as a brand that understands the importance of a mobile strategy. Giving our customers, old and new, access to us across multiple devices is key to solid customer experience. There is still a long way to go but we look forward to the developments ahead.”

The mobile finance audit follows hot on the heels of the IAB’s travel and retail audits last year, the latter of which revealed that only eight per cent of retailers had a tablet-optimised site.

Join us, it's free.

Become a member to get access to:

  • Exclusive Content
  • Daily and specialised newsletters
  • Research and analysis

Join us, it’s free.

Want to read this article and others just like it? All you need to do is become a member of The Drum. Basic membership is quick, free and you will be able to receive daily news updates.