Mobile banking apps are increasingly becoming more important than bank branches. A recent study showed that people visit branches at less than half the rate that they use banking apps. The trend is only expected to accelerate, as banks continue to close branches and invest more heavily in technology. Not only do users demand functionality, but they increasingly demand better design and a more intuitive interface.
Every year, MagnifyMoney (where I work) conducts a study of the best mobile banking apps. This study aggregates user rankings from the Apple and Android app stores. User reviews of the 50 largest bank and credit union apps as well as prominent internet-only banks were included in the survey. The data was collected from the iTunes and Google Play stores during the week of November 30, 2016. The results this year show that consumer satisfaction has increased, as banks continue to invest and competition intensifies.
Best Mobile Banking App From A Large Bank – Chase
For the second year in a row, Chase was voted the best mobile banking app in the country for a large bank. Chase’s rating improved by 8% compared to last year. And that improvement was necessary to keep just ahead of Capital One. Chase’s app was applauded by users for a combination of design and functionality. Here is an example of a customer review:
“The interface is well designed [sic], intuitive and responsive. I cannot think of a single issue.” — Nov. 21, 2016.
Chase’s app has a lot of the features deemed most important by consumers, which includes fingerprint sign-on, mobile check deposit and the ability to see images of deposited checks. Consumers want to be able to do everything on the app, and Chase has been adding functionality throughout the year to keep people satisfied.
Bill Wallace, head of Digital Banking at Chase, noted that “Chase is committed to developing digital products that remove friction and offer a convenient banking experience. We appreciate the recognition from our customers.”
[Source:-Forbes]
