Resource Type: Behavior Tendencies: Domains: ,

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


About the Author:

Julien Le Nestour
Applied behavioral scientist & international consultant — I am using the results and latest advances from the behavioral sciences—specifically behavioral economics—to help companies solve strategic issues. I am working with both start-ups and Fortune 500 groups, and across industries, though I have specific domain knowledge in banking, asset management, B2B and consumer IT, SAAS and e-commerce industries.

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