"Mobile banking still in its infancy"
Keynote Competitive Research, the industry analysis group of Keynote Systems, publishes a mobile banking scorecard which acts as a benchmark for the financial and mobile banking industry. The survey measures and ranks 15 of the largest banks in the US and evaluates their level of mobile banking by analysing SMS, mobile web and apps (iPhone, Android, Blackberry) based on customer experience regarding functionality, ease of use, privacy & security and quality & availability. (view press release)
The Q1 results highlighted Chase Bank as being ahead of the game, taking top honours in six categories including the overall score. Wells Fargo came second for overall score and Bank of America came in third. The survey unveiled certain elements of the mobile banking industry are still relatively embryonic – only seven banks for example offer mobile banking through all the channels of SMS, mobile web and apps operating on iPhone, Android and Blackberry operating systems.
Chris Musto, general manager of Keynote’s competitive research group, says “as we continue expanding the scorecard to reflect a greater population of mobile users it remains clear that mobile banking is still in its infancy… Several key elements desired by consumers – from mobile check deposit to interactive alerts – are still on the drawing board at most banks, along with efforts to realize the potential of smartphones to facilitate payments.”
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