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2012 Mobile Banking Financial Institution Scorecard: Three Keys To Mobile Money Movement Success
Javelin Strategy & Research, November 2012, Pages: 56
One-third of mobile consumers are using mobile banking in 2012. Seismic shifts are occurring in the mobile banking offerings of financial institutions, significantly building out and expanding the mobile money movement capabilities offered to consumers. But many top FIs fail to provide SMS text banking for their customers without smartphones.
In this fifth annual report, Javelin’s Mobile Banking Scorecard analyzes and compares the 24 mobile banking services of the leading 25 U.S. retail financial institutions by gross annual deposit size. The scorecard covers more than 1,200 data points using mystery shopping, mobile web, and phone data collection methods. The report studies device access and mobile web, app, and SMS text banking. It also identifies feature changes over the past year. Three key functionalities in leading offerings are identified by Javelin as areas of special focus.
The report also analyzes consumer activity data, to explore how consumers are fundamentally altering their mobile financial behavior over time. Finally, current U.S. mobile consumer share for tablet and smartphone operating systems and wireless providers is included.
- 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 leading industry leaders in mobile banking?
- What do consumers want from mobile banking?
- How are financial institutions’ mobile banking strategies changing over time and why?
- What should mobile banking look like in the future?
Executive Summary and Key Recommendations
Key Demographics of Mobile Bankers
Mobile Banking Overall Winners
Mobile Banking Access to Consumers
Mobile Alerts, and Notifications
Financial Institutions’ Detailed Comparison Tables
Figure 1: Mobile Banking Penetration Among FIs
Figure 2: Mobile Access Scoring Criteria
Figure 3: Scoring Criteria for General Features
Figure 4: Scoring Criteria for SMS Text
Figure 5: Consumer Usage of Mobile Banking in Past 12 Months (2009–2012)
Figure 6: Reasons Consumers Do Not Use Mobile Banking
Figure 7: Who Are Mobile Bankers?
Figure 8: Top 10 Mobile Banking Scorecard Winners
Figure 9: Screenshots of Chase, Bank of America, and USAA Android Apps
Figure 10: Overall Mobile Banking Scores
Figure 11: Financial Institutions’ Mobile Banking Offerings, 2009–2012
Figure 12: Consumer Use of Mobile Phone Features
Figure 13: Methods Used to Conduct Mobile Banking (2009–2012)
Figure 14: Consumer Satisfaction With Mobile Banking
Figure 15: Importance of Services Such as Image Deposit, Mobile Banking Apps to All Consumers vs. Online Bankers
Figure 16: Why Consumers Are Dissatisfied With Mobile Banking
Figure 17: Access as a Reason for Not Using Mobile Banking
Figure 18: Financial Institutions’ Top Eight Mobile-Banking-Weighted Access Scores
Figure 19: Financial Institutions’ Top Mobile-Banking-Weighted Access Scores
Figure 20: Google Android Nexus Flagship Line
Figure 21: Smartphone Adoption (2009–2012)
Figure 22: Bank Offerings of Downloadable Apps by Operating Systems for Smartphones and Tablets
Figure 23: Consumer Adoption of Tablets by Operating System (2011–2012)
Figure 24: Citizens Bank Mobile Banking
Figure 25: Downloadable Apps by Operating System for Smartphones and Tablets Offered by FIs
Figure 26: Financial Institutions’ Top Six Mobile-Web- and App-Weighted Feature Scores
Figure 27: Financial Institutions’ Mobile-Web- and App-Banking-Weighted Feature Scores
Figure 28: Mobile Web and App Features: Mobile Monitoring, Money Management, and Advances Capabilities
Figure 29: Financial Institutions’ Top Mobile-Banking-Weighted Mobile Alerts and Notifications and Text Banking Scores
Figure 30: Financial Institutions’ Combined Weighted Scores for Mobile Alerts, Notifications, and Text Banking
Figure 31: BBVA Mobile Enrollment Screenshot
Figure 32: Financial Institutions’ Top Mobile-Banking-Weighted Mobile Alerts and Notifications Scores
Figure 33: Financial Institutions’ Overall Mobile-Banking-Weighted Mobile Alerts and Notifications Scores
Figure 34: Financial Institutions’ Top Mobile-Banking-Weighted Text Banking Features Scores
Figure 35: Financial Institutions’ Overall Mobile-Banking-Weighted Text Banking Score
Figure 36: FI Offerings: Text Banking, Mobile Alerts, and Notifications
Figure 37: Chase Account Alerts Image
Figure 38: FI Mobile Banking Access Detailed Comparison
Figure 39: FI Mobile Banking Access Devices Detailed Comparison
Figure 40: Web/App Features: Mobile Monitoring Bank Features Detailed Comparison
Figure 41: Features: Mobile Movement Bank Features Detailed Comparison
Figure 42: FI Features: Mobile Banking Web/App
Advanced Features Detailed Comparison
Figure 43: FI SMS Text Banking Features Detailed Comparison
Figure 44: Mobile Banking Feature by All Financial Institutions for 2011 vs. 2012
Figure 45: Mobile Banking SMS Features by All Institutions for 2011 vs. 2012
Figure 46: Consumer Adoption of Smartphone vs. Non-Smartphone (2009–2012)
Figure 47: Mobile Phone Features Used by Consumers
Figure 48: Products and Services Owned by Consumers
Figure 49: Consumers’ Wireless Providers
- Fifth Thirds
- Bank of America
- Bank of the West
- Huntington Bank
- ING Direct
- Key Bank
- M&T Bank
- BMO Harris
- Capital One
- PNC Financial
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