Product Type: Market Research Report
Published by: Javelin Strategy & Research
Published: October 2009
Product Code: R3424-102Description Javelin’s 2009 Mobile Banking Scorecard ranks the consumer mobile-banking offerings offered by 18 of the nation’s 40 largest banks, based on deposits. The benchmark covered three areas of mobile banking: Features, Access and Marketing. Secretshoppers harvested information about each bank’s features by searching their websites and phoning customer service representatives multiple times. Of the top 40 institutions analyzed from July through September 2009, 18 offered mobile banking to their customers. All told, Javelin reviewed 26 criteria, including 18 features, six points of access and two marketing issues. The 18 banks offering mobile banking were ranked and awarded gold, silver or bronze status. This report also includes a profile of USAA Bank.
Primary Questions
- What are banks offering, and how has that changed over the past year?
- Which bank offers the most complete mobile-banking experience?
- How do the features offered score according to Javelin’s benchmark weights, by access, security and features?
- Who are the industry leaders and what sets them apart from the rest?
- What is the future of mobile banking?
Table of Contents - Table of Figures
- Overview
- Primary Questions
- Key Findings
- Methodology
- Features:
- Access:
- Marketing:
- Executive Summary
- Key Recommendations
- What’s Holding Back Mobile Banking? Sometimes It’s the Banks Themselves
- Javelin Forecasts Fast Growth for Mobile Banking
- Mobile-Banking Features Are Evolving But Have Much Room for Improvement
- Ranking by Mobile-Banking Features
- Leading Banks Offer Three Methods of Access to Serve More Customers
- Access
- Rankings by Access Methods
- Banks are Fumbling Their Mobile-Banking Marketing
- Rankings by Marketing of Value and Security
- Javelin Spotlight: USAA Relies on Mobile to Go Where Its Customers Are
- Appendix
- Related Research
- Companies Mentioned
- Table of Figures
- Figure 1: Weights Assigned According to Functionality
- Figure 2: 2009 Javelin Mobile-Banking Scorecard: Overall Rankings
- Figure 3: Millions of Mobile-Banking Users and Percentage of Users
- Figure 4: Primary Reasons Consumers Do Not Use Mobile Banking
- Figure 5: Javelin Mobile-Banking Scorecard: Weighted Scoring of Features Offered
- Figure 6: Features Offered by Ranked Banks
- Figure 7: SMS Text, WAP/Browser-Based, Downloadable and Embedded Applications Features Comparison .. 27
- Figure 8: Mobile-Banking Access Channels Offered by FIs (Aggregated)
- Figure 9: Applications Available for iPhones, BlackBerrys and Smartphones
- Figure 10: Consumer Ratings by Apple Users as of Oct. 5, 2009
- Figure 11: Market Segments With Significantly Higher Use of Mobile Banking in Past 30 Days Cumulatively
- Figure 12: Javelin Mobile-Banking Scorecard: Mobile-Banking Access
- Figure 13: Javelin Mobile-Banking Scorecard: Marketing and Security
- Figure 14: Access by Financial Institution Detailed (Unweighted)
- Figure 15: iPhone, BlackBerry and Smartphone Applications by Financial Institution Detailed (Unweighted)
- Figure 16: Features by Financial Institution Detailed (Unweighted)
- Figure 17: Marketing Ratings by Financial Institution (Unweighted)
- Figure 18: Operations Performed by Mobile Bankers
- Figure 19: Preference of Access Channel (Smartphone Owners vs. Non-Smartphone Owners)
- Figure 20: Last Time Used Mobile Banking
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