Making Mobile-First Matter
Consumers expect to do everything from the palm of their hands. This is especially true post-pandemic when the transition from physical to digital payments rapidly evolved. Companies across the travel, retail, affinity, and entertainment sectors are looking to their banking partners to make it easier than ever for customers to interact, make purchases, earn and redeem rewards, and service their accounts from a mobile device wherever they are in the world, 24/7.
At Barclays US Consumer Bank, we’re helping drive this transition with our partners by creating new digital capabilities and seamless experiences within our mobile app that help deepen engagement and build loyalty with the brands customers love.
1) Digital and Instant from the Start – Gone are the days of paper applications and waiting days or weeks for a credit card to arrive in the mail before you use it for purchases and earning valuable points or miles. We engage with consumers during the purchase or checkout process, in the hotel lobby, and even on a plane 30,000 feet in the air. This is when we have their attention. It’s the ideal time for us to offer them a product that can enhance their experience and earning power with our partner’s brand.
In a matter of minutes, consumers can apply for a credit card, receive approval, get instant credit and use a virtual card for purchases, and start earning rewards immediately, all from their mobile device via apps and digital wallets.
Keeping pace with this adoption curve is critical. According to a recent Forbes Advisor consumer survey, over half report using digital wallets more than traditional payment methods, and a near equal amount said they’d stop shopping at merchants that don’t accept payments from digital wallets.
2) Call Me Maybe – The transition to digital extends beyond purchases and payments. We’ve been accelerating our ‘mobile-first’ approach to change how we interact with our cardmembers – using the mobile app as the primary source of communication. Our friendly and talented customer care agents are always available to assist customers; however, we’ve designed our card programs so almost all servicing needs can be done through mobile devices. This includes reviewing recent transactions, checking balances and payment due dates, redeeming rewards, and resolving issues. Ultimately, using the app creates a whole new level of convenience and efficiency for our customers and strengthens their relationships with their preferred brands, our partners.
3) A Broader Platform for Engagement – We work closely with our partners to implement digital capabilities and services more seamlessly into their native applications and platforms. We’re integrating increased functionality via mobile for our brands and looking for more ways to add value to our partners’ relationships by building offers and experiences consistent with these brands, while promoting engagement through the app. For example, offering app tours to cardmembers that walk them through new options, as well as cross-promoting complementary products like deposit accounts and easy pay options on the home screen.
As digital wallets evolve and grow in popularity, our Barclays iLab continues to explore innovative ways to meet our cardmembers’ ever-changing needs. Future innovations might include new biometric security features, so that users can access virtual cards with “frictionless authentication,” and removing the need to send customers an authentication code via text. We are driven by meeting the cardmember where they are and interacting with them on their terms, as well as delivering additional value to our partners – America’s best-loved brands.
This information is for educational purposes only, not intended to be financial or legal advice. Always consult a qualified financial advisor before taking any action based on this information. The views and opinions expressed are those of the authors and do not necessarily reflect the official policy, position, or opinion of Barclays Bank Delaware.
Chief Product Officer
Barclays US Consumer Bank
Sean Murray is Chief Product Officer for Barclays US Consumer Bank where he is responsible for driving innovation to design new products, enhance digital customer experiences, and modernize the platform that powers the bank’s award-winning card and payment programs in the U.S.
Sean has more than two decades of experience across banking, credit cards, financial technology and e-commerce. Prior to joining Barclays in 2020, Sean was the Citi Fintech Chief Product Officer at Citi. Before this, he spent 15 years at JP Morgan Chase within their consumer division, including Card Services, Retail Banking, and Mobile, E-Commerce and Payments groups.
Sean is a mentor for Unreasonable Impact and serves on the boards of The Challenge Program and The Greater Philadelphia YMCA. He holds an MBA from Rutgers University and a Bachelor of Science in finance and banking from Fordham University.