Sri Lanka’s most innovative bank, HNB enhanced its leadership in tech-enabled banking, as its revamped Digital Banking App surpassed Rs. 10 billion in average monthly transactions, setting a new industry standard.
Since its relaunch in December 2020, the app has experienced a steady increase in transactions month on month and is currently one of the highest rated among users of Sri Lankan digital banking apps on the Google Play store. To date, it has over 130,000 downloads with an active user retention margin of 70- 75%.
“Banking in the palm of your hand is here to stay, and HNB is proud to be leading the market towards greater trust and acceptance of these services. Our redevelopment process was completely structured around experiences that go beyond user expectations. We consulted customers and carefully logged all feedback, and incorporated all of it back into the final UI and UX. The results of these redesigns speak for themselves through the voice of our customers,” HNB Deputy General Manager – Retail and SME Banking, Sanjay Wijemanne said.
Among the top five apps in the Finance category in the Google Play and Apple App stores, HNB’s Digital Banking app has a star rating of 4.7 and 4.6, respectively.
Designed by the bank’s in-house team of developers, each feature is exclusively tailor-made to the bank’s requirements.
With constant updates featuring new additions, services, facilities and overall UX/UI improvements, the HNB Digital Banking app offers customers complete control of their banking experience.
For example, new users can conveniently sign up with a simple three-step verification process by first providing their account number and NIC number, then their mobile number for two-factor authentication, followed by card details.
The simple process ensured that only 2% of the 130,000+ registered users contacted the bank for support during the onboarding process.
Similarly, a unique feature offered by the HNB Digital Banking app is the ‘Peek Balance’ option, where customers need not go through the whole log-in process to get an instant and up-to-date account balance.
The app also has no restrictions for transaction history. This means customers can scroll down to their very first transaction made without a hassle. In addition, the app allows customers to add ‘Favourites’ and ‘Schedule’ payments, further simplifying the overall user experience. The app also allows customers to further control their banking experience, with the option to set their accounts as ‘Hidden’ or ‘View Only’ and customise their transaction limits.
Notably, HNB credit cardholders have access to transaction history, settle dues and pay utilities. In addition, all general banking services, including managing current accounts, savings accounts, loans and even fixed deposits, are also offered to customers with more options to be included in upcoming updates through the app.
Biometrics and face recognition technology to authenticate access for a secure digital app, HNB also uses the ‘Device Binding’ process to offer a convenient and safe log in process. For example, if a customer logs into their account from another device, a two-factor authentication (Risk-based authentication) process will follow, requiring the customer to input a ‘One-Time-Password’, which is sent to the mobile number the account is registered with.
HNB customers can also use the Cash to Mobile facility through the app to transfer funds to any individual to withdraw funds from an HNB ATM.