The red-and-black bank recently unveiled its new mobile app, which revamps the 2015 version. The new app is simpler, more modern and even includes tips.
3.5 million digital customers
Société Générale is updating its mobile application "with the ambition of more strongly embodying the banking model by interweaving the human and the digital", it states in a press release published on June 15. In just a few years, mobile has become the primary channel for customer interaction. Today, the traditional bank boasts 3.5 million customers. Nearly half of them use the banking application every month, for a total of 100 million connections.
The new version of the Group's mobile application is already available for iPhone users. The aim: to innovate without creating a loss of reference points for existing users.
A conversational banking application
The application provides a conversational robot or chatbot connected to accounts, enabling immediate, effortless answers to everyday or more complex questions. Users can quickly find out how to obtain their RIB, increase their card payment limit, or trace an expense at a retailer or chain. Customers can also put their questions directly to expert advisors during video "Lives" on a range of topics (real estate, savings, insurance, credit, bank cards). Finally, they can book an appointment at any time via the app. For budget coaching, however, customers will have to wait a few more months, as the bank points out.
Banxup, a bank for teenagers
From September, the new version of Société Générale's application will integrate Banxup, a solution for teenagers. The banking group aims to give parents a complete overview of how their children spend their money. Parents will be able to view all their child's spending and set bankcard authorizations (blocking/unblocking, modifying withdrawal and payment limits, online and contactless payment, etc.). The main aim is toencourage financial independence and familiarize children with budget management. The interface has been redesigned to minimize customer effort and make operations easier to read.
Despite the launch of this new offer dedicated to teenagers, the neobanks are maintaining their digital lead. "With our new app, we aim to embody even more strongly what sets us apart, namely a model based on the close relationship and expertise expected by the customers who have chosen Societe Generale," says the group in a statement.
Eventually, Societe Generale hopes to increase its capacity to sell products remotely, as is already happening in some European countries. It has set itself the target of reducing its number of points of sale to 1,700 by the end of the year, from 1,793 in 2019.