Speed and ease of use are essential to a financial provider’s mobile payment arrangement functions, according to Max Haynes, founder and chief executive at Car Loans Inc. Which is why the company has cut its mobile site load time down from 10 seconds to between two and three seconds, Haynes told attendees at Auto Finance Innovation last week.
Slow-to-load mobile sites has been a big topic of discussion within the financial services industry in recent years, particularly how slow sites can harm brands. The speed of a mobile site’s load time is the most important factor for many consumers, and 40% of people abandon a website if the load time exceeds three seconds, Jeremy Anderson, head of financial services at Google, told attendees previously at LendIt 2016 in April.
“How you architect things in your mobile app, and how you store the data is key” to ensuring a fast load time, Haynes said at AFI. If the mobile transaction has to go through a “complex site in the backend, and that data is not staged in between somewhere, it’s not going to work,” he added.
Check out Haynes’ response to the importance of mobile site speed in the video below.
