Thinking exactly the same thing. Plus... banks are already worth billions and have little reason to invest in things that doesn't effect their bottom line when they are already printing money.
That, and quality of the app is not really a decision that drives selection of a bank. I've been told by a certain EU bank marketer that "if we get them before 18, they're ours until death". Which is a bit of an exaggeration, but it's telling about just how sticky the customers for banks are. Switching out accounts and losing those preferred mortgage deals is a big deal.
Yup! Great example you can see it super quickly is SAP... (not a bank but $170B+ value and little incentive to improve the quality)
Such arrogance will not go unpunished. Banks have two ways to differentiate. Better app and better prices. The prices they can offer is based on their degree of automation and the quality of their risk models. In other words, they are tech companies and they better act like it.
This is so true. Long ago I had a telesales warm calling job for a mortgage product. The number of customers who had all their financial services from a single one of the big few (U.K.) banks was telling