Javelin analyzed the mobile banking apps of the top five U.S. banks to determine what personality each bank presents to customers on their homepages. Decisions about what tasks, features, and services to show – or to exclude – send subliminal messages about not only the practical purpose of the app but also the fundamental value of a banking relationship. The apps place the greatest emphasis on money movement tasks and ease of use, address financial tasks more than advice-driven topics, and – intentionally or not – de-emphasize other aspects of mobile banking. Together, the five banks have chosen to say little to nothing about four other categories that drive nearly 60% of satisfaction with mobile banking: Security Empowerment, Financial Fitness, Customer Service, and Account Opening. Each bank has an opportunity to better showcase the value of long-term banking relationships by proving that mobile banking is about more than tasks and tools.

Key questions discussed in this report:

• What personalities do banks project on their homepage with every login?
• What tasks, features, and services do they showcase or exclude?
• What messages do these choices send about the practical purpose of the app and the overall value of a banking relationship?
• What can FIs showcase more prominently to build a more powerful bond with customers?
• What can other FIs learn from these trend-setting banks?

Companies Mentioned:

Bank of America, Chase, Citi, U.S. Bank, Wells Fargo, Zelle