Best Mobile Retail Banking Solutions: Chase Ranks First in Mobile Website and App Categories, Citibank Has the Best Tablet Offering

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Key Lime Interactive Evaluates Mobile Retail Banking Solutions Offered By Four Top US Banks Including Chase, Citibank, Bank of America and Wells Fargo. Findings Shared In Report.

It wasn’t surprising that a consumer insight survey specific to retail banking conducted by Key Lime Interactive (KLI) revealed that users identified the ability to both view current balances and view transaction history as the most critical features necessary for a reliable mobile banking solution. Other features that ranked high on the list of must-haves included fund transfer, ability to make/initiate payments, ATM locator and an alert setup/control interface.

However, what may prove to be more important to know for those creating these mobile solutions is that consumers reported a need to cancel a debit or credit card from their mobile solution and this need is being unmet. “They want to cancel it when they draw the conclusion that they left it in the restaurant billfold or when they are retracing their steps at the mall, and not a second later,” reports KLI, a leader in mobile experience testing, in the December 6th readout of a competitive review of the leading U.S. Retail Banks.

This is just one of many opportunities identified where banks can bridge the gap between their mobile solution and self-reported consumer needs. These results, along with additional details, were announced last week in a webinar hosted by KLI. In the webinar, Alex D. Rodriguez, lead researcher for this study went on to credit the banks for the strengths each exhibited in meeting consumer needs and identified best-in-class features that were functional, intuitive and aesthetically pleasing. In the end, the scoring revealed that Chase took first place for Best Mobile Website and Best Mobile App, while for the Best Tablet App (iOS, only) portion of the study Citibank ranked number one.

The entire study and/or associated annual subscription are available for immediate purchase. To request more information please visit: http://keylimeinteractive.com/contact-us/

Additional Report Information

The four banks included in this mobile retail banking evaluation included Chase, Citibank, Bank of America and Wells Fargo. Each available mobile website, primary retail mobile app and tablet app were included. Assessments were made as of December 2, 2011.

The full report is the first of its kind that combines user and consumer feedback, arguably the most important component, with mobile heuristics developed by KLI experts. Even more, tablet apps have yet to be included in many cross-sectional perspectives of the mobile banking landscape and this evaluation has proven to be valuable for groups developing the strategy for the launch of a tablet solution in the short term.

Like all of KLI’s syndicated reports, this includes an in depth look at the method used to rank/score each individual offering by each bank. These heuristics consisted of a combination of a capabilities assessment, comparative feature ranking and overall user score and ranking.

The expert contribution to the report pushes the banks to consider ways to improve their offering by identifying and prioritizing areas that can be improved in general and for each specific property. Best-in-class features for each bank are mentioned and screenshots are provided from the consumer portal after login; these screenshots and details allow the respective designers to get a comprehensive side-by-side look at how their design compares with the others and stimulates strategic planning for future releases.

To view the webinar deck in which this first wave of results were presented, please visit: http://keylimeinteractive.com/reports/retail-banking-mobile/

The next iteration of the study will be available on or before Friday, March 30, 2012 and will be expanded to include four (4) additional banks, eight (8) in total. The report will outline changes in user preferences by collecting new user data as well as the improvements or changes for all listed carriers as compared to this December assessment. A webinar for this study will not be offered, but individual reports or an annual subscription is available for purchase. Contact Key Lime Interactive for more information.

About Key Lime Interactive: KLI is a customer experience research agency with proven excellence in both quantitative and qualitative user and consumer testing. To serve our growing client list of companies large and small, we conduct competitive research, true intent / voice of customer studies, and prototype studies using quantitative methods. Additionally, we're experienced in moderating one-on-one interviews/ usability studies, focus groups, and eye-tracking studies. Ultimately, our goal is to empower teams to use consumer/user experience data at any and all phases of product development; from strategy to implementation. We aim to provide the true perspective of target users and build exceptional consumer-driven solutions.

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Jennifer Knodler

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