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Benchmarking of Top40-Banks Mobile Apps

Mobile Apps for Banking 2014: From Multi-Channel to Mobile First

May. 06, 2014

The ultimate report on Mobile Apps in Retail Banking: Comprehensive, Data-Driven, Rigorous

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After taking great strides in the development of their mobile banking products in preceding years, the majority of the banks’ app portfolios appear to have stagnated in this year’s review. Few banks managed to overhaul their apps or develop fresh mobile solutions, and numerous apps became outdated or simply vanished. This is one of the main findings in our 2014 report on mobile solutions for retail customers from the world’s top 40 banks. As our research reveals, most banks are not prepared for the new challenges and opportunities presented by the mobile world.

This 295-page report tells you all you need to know to develop, optimize and implement a winning banking app strategy. Our research team of technology and industry experts performed a detailed analysis of the strengths and weaknesses of the mobile apps of 40 leading retail banks worldwide. (See below for a list of analyzed banks.) In total, more than 170 mobile apps were evaluated. Our report provides an assessment and recommendations for the mobile app offerings of each bank evaluated and for the banking industry as a whole.

 >>Click here for Table of Contents, Top 10 Banks, Methodology, Executive Summary<<

The report benchmarks the mobile apps offered by each bank based on 56 criteria grouped into nine main categories of evaluation: availability of mobile apps; core functions for customers; innovative add-ons; security and privacy; content and features for marketing; contact options; technical features and support, strategy and navigation; and best practices. Based on this thorough, data-driven analysis, the report derives best practices and provides strategic and practical recommendations for creating mobile apps that can engage both existing and new clients. 

The report gives bank management, IT providers, smartphone companies and consultants answers to the following questions:

  • Which banks are at the forefront of mobile apps in retail banking, and which ones are lagging behind?

  • What are the characteristics, positive and negative, of the mobile apps offered by the worlds top 40 retail banks?

  • What content, functionality and security measures should a mobile app have to catch the attention and satisfy the needs of clients and non-clients?

  • What can be learned from the best practices among the mobile apps that were analyzed?

  • How can you ensure that a mobile apps stands out from those of your competitors?

  • How many different mobile apps are required, for which devices and to what software standards?

  • What is the right strategy for a portfolio of mobile apps and which approach is better - global mobile apps or mobile apps for national markets?
     
  • In the banking sector, how is the market for mobile apps developing and what future needs will clients have?


Main Content:

  • Benchmarking and ranking of the mobile applications of the world´s top 40 banks based on 56 criteria

  • 40 comprehensive profiles of  app strategies and app portfolios of the world's leading banks, including recommendations for each bank

  • 26 Best Practices for following features:   Availability of apps, innovative add-ons, security, marketing and customer retention, contact features, technical features and support, navigation and interaction   

  • Recommendations on how a winning bank´s mobile applications strategy should look

  • Data-appendix of 40 pages containing detailed evaluations by bank according to 56 criteria


Analyzed Banks:
ABN Amro    Citibank    Itaú Bank    RBC
ANZ    Commerzbank    JP Morgan Chase    Santander
Bank of America    Credit Suisse    KBC    Société Générale
Barclays     DBS    Lloyds Bank    Standard Chartered
BBVA    Deutsche Bank    NAB    TD Bank
BMO    First National Bank    Nationwide    U.S. Bank
BNP Paribas    HSBC     NatWest    UBS
Caisse d'Epargne    Hypoverseinsbank    Nordea    UniCredit
Commonwealth Bank    ICBC    PNC    Wells Fargo
CIBC    ING     Rabobank    Westpac


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