2013 Mobile Banking Financial Institution Scorecard: Winners and Losers of Today and the Strategies and Trends for Tomorrow

Mobile bankers want advanced features through the devices they use, as the mobile “power users” of yesterday become the average bank customers of 2013. Today, with 4 in 10 mobile consumers owning a tablet, and the majority owning a smartphone — financial institutions are listening. For the first time in this report’s history, each top financial institution covered offered downloadable mobile banking applications. Javelin’s sixth annual Mobile Banking Financial Institution Scorecard analyzes and compares the top 25 U.S. retail banks and the largest credit union by gross annual deposit size, to inform industry experts and players on who measures up in the space. Data and insights found in this report draw on industry-leading data collection methods, which use mystery shopping and mobile, web, and CSR phone data to provide a customer’s perspective into institutions. These methods are applied to an exhaustive and constantly updating set of criteria, outlined in detail within the report body. Backed by year-over-year changes in FIs’ performance in these areas, this report identifies vital trends in FIs’ mobile banking offerings. Several critical areas were chosen to produce awards in Javelin’s 2013 Mobile Banking Scorecard: mobile banking accessibility, mobile banking functionality, alerts and notifications, text banking, mobile banking tablet ratings, and mobile banking smartphone ratings. Analysis of consumer data, including changing mobile financial activities, is included to provide a complete picture of the mobile banking space. Finally, U.S. consumer market share in tablet and smartphone operating systems are provided to inform ongoing platform investments in the coming year.

Primary Questions:

• What mobile banking products and services are banks offering, and how have they changed over the past year?
• Which banks provide the most complete mobile banking package?
• Who are the industry leaders in mobile banking?
• What do consumers want from mobile banking?
• How do mobile bankers differ from all other consumers?
• How are financial institutions’ mobile banking strategies changing over time and why?
• What should mobile banking look like in the future?

View Javelin's 2013 Mobile Banking Financial Institution Award Winners

• The consumer data in this report is based on information collected from a random‐sample survey of 3,285 respondents collected online during July 2013.