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Comment on UK Government Fintech Regulation from Applause
Rahul Shah, Applause’s SVP of Global Delivery and Customer Success:
“Applause welcomes the UK government’s new regulatory regime for fintech firms, which will allow users to access multiple bank accounts from one easy-to-use app. It’s a trend we’re already seeing in other parts of Europe, with Santander launching a mobile app for the Spanish market that will allow users to access information from multiple bank accounts. It’s good to see that UK fintechs will have the opportunity to offer a similarly integrated service.
“It’s important to note that the development of this technology will need to be matched by a thorough testing process, and fintechs will be wise to use in the wild testers to ensure best results. Testers can rate the quality of the sign-in process, they can give feedback on the language that is used, whether it is straight-forward and whether it makes sense in the cultural context, and much more. This kind of feedback is crucial to designing apps that are simple and easy to use. If a customer gets frustrated or if their banking takes too long, they will delete the app.”
For more information visit; Applause.
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