Citibank’s Lite mobile app: fighting Myopic Loss Aversion

Even though it’s not its stated aim, the app is a good example of a design workaround that helps fight Myopic Loss Aversion for clients: you can access your latest account and transactions info, but taking action requires you to log into the real mobile app, or online banking, etc. making it more difficult and decreasing the probability of reacting too emotionally to the losses you might see.

Image source: Mobile: Citibank Remains Committed to No Login with Newest “Lite” iPhone App on Finnovate