FINANCIAL SERVICES U.S. Banking Apps Report: Customer Reviews BY XTREME LABS
U.S. BANKING APPS REPORT: CUSTOMER REVIEWS Table of Contents Executive Summary 3 Purpose 4 Methodology 4 State of the Industry 5 Platforms of Choice 6 App Ratings 6 Customers Feedback 11 Analysis of Findings 23 Conclusion 26 Appendix A: List of Banks 27 Appendix B: Mobile App Data 30 Contributors 61 2
U.S. BANKING APPS REPORT: CUSTOMER REVIEWS Executive Summary As the mobile industry grows exponentially, customers are more connected, informed and have more channels than ever to express their concerns and needs. The banking industry, particularly in the United States, is one where many customers expect a great mobile experience and banks certainly have the financial means to invest in a superior mobile offering. Xtreme Labs conducted an in-depth examination of the top U.S. banks ios and Android apps to see if these institutions were in fact meeting the expectations of customers when it comes to mobile banking. Our research provides a compelling snapshot for a bank to see how its mobile offering is performing according to customer feedback, what areas need improvement, and how it is doing compared to its peers. The report also includes analysis of the findings and solutions to the top customer complaints for banks to improve their mobile offering. Banks in general have impressive coverage across both platforms, with most having an app on ios and Android. Banks that are succeeding in the mobile space are delivering full-featured, easy-to-use mobile applications that offer all of the functionality customers expect from a traditional banking experience. They also seem to be acting on the widely available customer feedback by releasing frequent upgrades that resolve issues and deliver additional functionality. Several banks are doing a poor job, however, at offering the baseline functionality that customers expect from mobile banking. Common complaints include applications crashing and freezing, frequent error messages and issues with connectivity, opening, and loading. The lacking functionality is a source of significant frustration and thus a deterrent for overall usage. Based on our findings, there is a significant opportunity for U.S. banks to improve their overall mobile banking experience, given the average star rating on both platforms, common complaints from customers, and overall low rankings for the top U.S. banks. A poor mobile banking experience can be the single factor for a bank to lose a customer. Given the number of choices customers have in the U.S., banks should invest in a superior mobile solution to differentiate themselves as innovative industry leaders. The Banking Apps Report by Xtreme Labs analyzed public customer reviews from the Apple itunes Store and the Google Play Store between May 18 and June 25, 2013 for the top 53, U.S. banks ranked by total assets on www.relbanks.com. 3
U.S. BANKING APPS REPORT: CUSTOMER REVIEWS Purpose This report is designed to provide insight into how the top US banks fare in the mobile application space according to customer feedback. Since the top two mobile platforms are ios and Android, we focused our research on these operating systems. We researched which platforms the banks have targeted for mobile banking applications, their average ratings, and areas that customers have highlighted as needing improvement. Methodology The banks researched in this report came from the list The Largest U.S. Banks on www.relbanks.com, an aggregator of global bank data. Bank s inclusion in the lists is based on the total value of their assets. Research for this report was conducted from May 18 June 1, 2013; exceptions are Co-operative Bank, Barclay s Bank, BOK Financial Corporation (Android only), First Horizon National Corporation (FHNC) and Bancwest Corporation, for which data was gathered on June 10-11, 2013, as well as the City National Mobile app, for which data was gathered June 25, 2013. The report aggregated publicly available customer ratings in both the Apple itunes Store and the Google Play Store and listed those results, as well as top complaints based on customer comments. We used the data for the current version of each app if there were reviews and ratings available for the current version; otherwise we used the data from all versions. Some banks had an app that did not have enough data to be reviewed; these are noted in Appendix B. The number of ratings for Android apps is not specified in Google Play, therefore we averaged 10 reviews/page. Google Play displays a maximum of 48 pages, therefore some apps are listed as having 480 reviews, which is actually the minimum we could identify. For reviews, we looked at the 50 most recent for the current version. Our threshold for determining whether or not an app has or is lacking a feature was if two or more comments were made about it. 4
U.S. BANKING APPS REPORT: CUSTOMER REVIEWS State of the Industry Customers are increasingly turning to mobile to fulfill their daily banking needs. Given the number of choices customers have for financial services, banks have a significant opportunity to differentiate themselves as innovative industry leaders in mobile. A bank should not underestimate the value of a full-featured, seamless mobile experience. While features such as account balances are considered standard, users expect additional functionality such as easy transfers, bill payments, and mobile check deposit. We are just reaching the breakout point for mobile banking, and many of the top providers are already overly complacent with their offerings. The trailblazers in our industry are the ones who think about mobile at every step of their business and product. Mobile is no longer an afterthought or a checklist item to just get done - it is a necessity. It has become a pillar of customer engagement strategies and a key component to growing the revenue models of all businesses. Banks need to focus on what is going to set their institution apart. To answer that, they need to focus on how their customers engage with them, how they think, and what they need. Consider these statistics about customers interested in or using mobile banking: One in six customers who switch banks indicate a poor mobile banking experience prompted the switch 1 Between 51% and 76% of mobile users want to use their device to call customer service, check balances, transfer money, pay bills, and look up branch locations and hours 2 Only one-half of customers using mobile banking report that they fully understand the capability of the technology, representing an opportunity for banks to educate their customers, increase usage and potentially deepen customer share of wallet 3 1 Google Think Insights. (October 2012). Mobile Banking Trends 2012. Retrieved from http://www.google.com/think/research-studies/mobile-bankingtrends-2012.html 2 Ibid 3 J.D. Power & Associates. (April 2012). Press Release: 2012 Retail Banking Satisfaction Study. Retrieved from http://www.jdpower.com/content/press-release/ Hmio580/2012-retail-banking-satisfaction-study.html 5
U.S. BANKING APPS REPORT: CUSTOMER REVIEWS Platforms of Choice The illustrations below depict how many of the banks we reviewed have deployed at least one mobile app on ios, Android, and both platforms. Some banks have more than one app, as noted in Appendix A. ios Android Both 46 /53 = 87% 44 /53 = 83% 42/53 = 79% App Ratings Average Rating Of the apps, the average rating by platform was: ios CURRENT VERSION: ios ALL VERSIONS: Android ALL VERSIONS: 2.8/5 3.3 /5 3.8 /5 It is not possible in Google Play to see separate ratings for current and all versions. 6
U.S. BANKING APPS REPORT: CUSTOMER REVIEWS App Ratings (continued) Consult Appendix B for the banking apps that did not meet our criteria to be either highest or lowest rated. Highest Rated The list of highest rated apps is based on a combination of the following criteria: Rated favorably (3+ stars) At least 60% favorable rating (3+ stars) 25 or more reviews for the version reviewed ios BANK APP (OUT OF 5) % RBS Citizens Financial Group Citizens Bank Mobile Banking 4.5 93 RBS Citizens Financial Group Charter One Mobile Banking 4.0 91 KeyCorp KeyBank for ipad 4.0 83 City National Corp City National Mobile 4.0 76 Santander Holdings USA Personal Banking 3.5 83 Associated Banc-Corp Associated Mobile Banking 3.5 76 Huntington Bancshares Incorporated Huntington Mobile for ipad 3.5 75 U.S. Bancorp U.S. Bank 3.5 71 Utrecht - America Holdings Rabobank Mobile Banking 3.5 69 Bancwest Corporation Bank of the West Mobile Banking 3.5 68 First Citizens BancShares First Citizens Mobile Banking 3.5 68 American Express Company Amex Mobile 3.5 66 Bancwest Corporation FHB Mobile Banking 3.5 62 7
U.S. BANKING APPS REPORT: CUSTOMER REVIEWS App Ratings (continued) Highest Rated The list of highest rated apps is based on a combination of the following criteria: Rated favorably (3+ stars) At least 60% favorable rating (3+ stars) 25 or more reviews for the version reviewed Android BANK APP (OUT OF 5) % United Services Automobile Association USAA Mobile 4.6 95 RBS Citizens Financial Group Citizens Bank Mobile Banking 4.5 97 American Express Company Amex Mobile 4.4 91 Wells Fargo & Company Wells Fargo Mobile 4.3 90 Bank of America Corp Bank of America 4.2 88 TD Bank US Holding Company TD Bank (U.S.) 4.2 88 J.P.Morgan Chase & Co Chase Mobile 4.2 87 BB&T Corporation BB&T Mobile Banking 4.2 87 Regions Financial Corporation Regions Bank 3.9 80 UnionBanCal Corporation Union Bank Mobile Banking 3.9 80 Capital One Capital One Mobile 3.9 79 U.S. Bancorp U.S. Bank 3.8 78 BancWest Corporation Bank of the West Mobile 3.7 74 BBVA USA Bancshares BBVA Compass Mobile Banking 3.6 73 PNC Financial Services Group Virtual Wallet by PNC 3.5 68 PNC Financial Services Group PNC Mobile 3.4 67 SunTrust Banks SunTrust Mobile App 3.2 61 8
U.S. BANKING APPS REPORT: CUSTOMER REVIEWS App Ratings (continued) Lowest Rated The list of lowest rated apps is based on a combination of the following criteria: Rated negatively ( >3 stars) At least 60% negative rating ( >3 stars) 25 or more reviews for the version reviewed ios BANK APP (OUT OF 5) % People's United Financial (PBCT) People's United Bank Mobile Banking for ipad 2.0 79 PNC Financial Services Group PNC Mobile Banking 2.0 79 SunTrust Banks SunTrust Mobile App 2.0 78 BB&T Corporation BB&T Banking for ipad 2.0 73 J.P.Morgan Chase & Co Chase Mobile (SM) 2.0 70 TD Bank US Holding Company TD Bank (US) 2.0 70 PNC Financial Services Group Virtual Wallet by PNC 2.0 69 Regions Financial Corporation Regions Mobile 2.0 69 Fifth Third Bancor Fifth Third Mobile Banking 2.0 69 Bank of America Corp Bank of America Mobile Banking 2.0 68 First Niagara Financial Group First Niagara Mobile Banking 2.0 65 BMO Financial Corp BMO Harris Mobile Banking 2.5 66 PNC Financial Services Group PNC Mobile for ipad 2.5 63 Wells Fargo & Company Wells Fargo Mobile 2.5 63 United Services Automobile Association USAA Mobile 2.5 62 Capital One Capital One Mobile 2.5 60 M&T Bank Corporation M&T Mobile Banking 2.5 60 9
U.S. BANKING APPS REPORT: CUSTOMER REVIEWS App Ratings (continued) Lowest Rated The list of lowest rated apps is based on a combination of the following criteria: Rated negatively ( >3 stars) At least 60% negative rating ( >3 stars) 25 or more reviews for the version reviewed Android BANK APP (OUT OF 5) % M&T Bank Corporation M&T Mobile 2.3 63 10
U.S. BANKING APPS REPORT: CUSTOMER REVIEWS Customers Feedback The figures below represent the percentage of apps that received each item of feedback, so totals equal more than 100% per platform. By platform, the leading negative reviews were: ios Bugs: 62% No Deposit or Deposit Limit too Low: 28% Poor Design: 30% Android Bugs: 68% No Deposit or Deposit Limit too Low: Login/ 25% Poor Design: 28% 33% Logoff issues: 11
U.S. BANKING APPS REPORT: CUSTOMER REVIEWS Customers Feedback (continued) Below is an analysis of the common complaints across both platforms. We have included potential causes and our recommended solution to address each complaint. Application has Bugs PROBLEM Application is buggy (doesn t open, crashes, freezes often). CAUSE Bugs such as those identified can be caused by shoddy code, unreliable internet connection, or poor memory management. SOLUTION A reliable development partner should thoroughly test an app under multiple conditions and variables to ensure that an app is devoid of issues. Furthermore, an app should include a feature that automatically generates crash reports and sends them to the developer. Rapid resolution is critical, so that users do not uninstall an app, never to return. What we find surprising about this number is that it s so high across both ios and Android. 62%-68% of apps being buggy means that the banks have a lot of work to do optimize their mobile experiences. Even the three highest rated apps across both platforms appear on this list, indicating they still require some tweaking. The rate of bugs being reported for ios is especially surprising, as the itunes App Store is usually quite rigorous in its testing process before allowing apps to be made available for download. QUOTES We selected a few quotes from customers to highlight what they think about apps with these sorts of issues. Useful app but it has bugs. Login works sporadically and check deposits often fail requiring several tries. The app is perfectly functional, however it s clearly not a high quality app... It works, but it s clearly got bugs. Camera won t connect for check deposits. App locks up in other places. Used to work fine...please test your app thoroughly before updating. This is a banking app for goodness sake. You should not be beta testing on users. This app used to be great! always working and always being able to deposit checks. Now it s horrible! Always down for maintenance and I can t even deposit checks anymore with out it giving me an error about 20 times. Horrible! now I have to waste gas driving to the bank again to deposit checks. Ugh! 12
U.S. BANKING APPS REPORT: CUSTOMER REVIEWS Application has Bugs Below is a breakdown by platform of apps that received at least two comments giving this feedback. ios BANK J.P.Morgan Chase & Co APP Chase Mobile (SM) Chase Mobile J. P. Morgan Mobile (SM) Bank of America Corp Bank of America - Mobile Banking Bank of America for ipad Citigroup Wells Fargo & Company Citi Mobile (sm) Wells Fargo Mobile Wells Fargo for ipad U.S. Bancorp HSBC North America Holdings Capital One PNC Financial Services Group U.S. Bank HSBC Mobile Banking Capital One Mobile PNC Mobile Banking PNC Mobile for ipad Virtual Wallet by PNC Virtual Wallet for ipad by PNC TD Bank US Holding Company BB&T Corporation BB&T Banking for ipad Ally Financial SunTrust Banks American Express Company Ameriprise Financial RBS Citizens Financial Group Charter One Mobile Banking Fifth Third Bancor TD Bank (US) BB&T Mobile Banking BB&T Banking for ipad Ally Mobile Banking SunTrust Mobile App Amex Mobile Ameriprise Financial Citizens Bank Mobile Banking Charter One Mobile Banking Fifth Third Mobile Banking 13
U.S. BANKING APPS REPORT: CUSTOMER REVIEWS Application has Bugs Below is a breakdown by platform of apps that received at least two comments giving this feedback. ios BANK Regions Financial Corporation APP Regions Mobile Regions Mobile Banking for ipad Charles Schwab Corporation BMO Financial Corp United Services Automobile Association Schwab Mobile BMO Harris Mobile Banking USAA Mobile USAA App for ipad UnionBanCal Corporation KeyCorp M&T Bank Corporation Bancwest Corporation Discover Financial Services Union Bank Mobile Banking KeyBank for ipad M&T Mobile Banking Bank of the West Mobile Banking Discover Mobile Discover for ipad BBVA USA Bancshares BBVA Compass United States Huntington Bancshares Incorporated BBVA Compass United States Comerica Mobile Banking(sm) Huntington Mobile Huntington Mobile for ipad Zions Bancorporation Utrecht - America Holdings Popular, Inc. First Niagara Financial Group People's United Financial (PBCT) BOK Financial Corporation (BOKF) Synovus Financial Corp. Zions Bank Mobile Banking Rabobank Mobile Banking Popular Community Bank Mobile First Niagara Mobile Banking People's United Bank Mobile Banking for ipad Bank of Oklahoma Mobile Banking Synovus Mobile Banking 14
U.S. BANKING APPS REPORT: CUSTOMER REVIEWS Application has Bugs Below is a breakdown by platform of apps that received at least two comments giving this feedback. Android BANK J.P.Morgan Chase & Co Bank of America Corp APP Chase Mobile Bank of America Bank of America for Tablet Citigroup U.S. Bancorp HSBC North America Holdings Capital One PNC Financial Services Group Citi Mobile (SM) U. S. Bank HSBC Mobile Banking Capital One Mobile PNC Mobile Virtual Wallet by PNC Virtual Wallet tablet by PNC TD Bank US Holding Company Principal Financial Group BB&T Corporation Ally Financial SunTrust Banks American Express Company Ameriprise Financial RBS Citizens Financial Group TD Bank (US) Principal Mobile BB&T Mobile Banking Ally Mobile Banking SunTrust Mobile App Amex Mobile Ameriprise Financial Citizens Bank Mobile Banking Charter One Mobile Banking Fifth Third Bancor Regions Financial Corporation Fifth Third Mobile Banking Regions Bank 15
U.S. BANKING APPS REPORT: CUSTOMER REVIEWS Application has Bugs Below is a breakdown by platform of apps that received at least two comments giving this feedback. Android BANK Charles Schwab Corporation BMO Financial Corp United Services Automobile Association UnionBanCal Corporation KeyCorp Santander Holdings USA M&T Bank Corporation BancWest Corporation APP Schwab Mobile BMO Harris Mobile Banking USAA Mobile Union Bank Mobile Banking KeyBank Mobile Personal Banking M&T Mobile Bank of the West Mobile FHB Mobile Banking BBVA USA Bancshares Comerica Incorporated Huntington Bancshares Incorporated Utrecht - America Holdings Popular, Inc. First Niagara Financial Group People's United Financial (PBCT) Synovus Financial Corp. Associated Banc-Corp First Citizens BancShares BBVA Compass Mobile Banking Comerica Mobile Banking Huntington Mobile Rabobank Mobile Banking Popular Community Bank Mobile First Niagara Mobile Banking People's United Bank Mobile Synovus Mobile Banking Associated Mobile Banking First Citizens Mobile Banking 16
U.S. BANKING APPS REPORT: CUSTOMER REVIEWS Customers Feedback (continued) Application is Poorly Designed PROBLEM This feedback is somewhat open to interpretation, as it could refer to an app s physical appearance or its flow and ease of use. CAUSE Some causes of this are using a design team lacking in proper experience and methodology, or poor communication between the client and the developer about expectations. SOLUTION This is one issue for which there is no easy or quick fix; an experienced mobile designer needs to take the time to understand the client s needs, create wireframes, develop an information architecture, develop a prototype, and test/ discuss at each step of the way to ensure everything works as expected. Essentially, the app must be redesigned, though all the data integration points may remain the same. QUOTES We selected a few quotes from customers to highlight what they think about apps with these sorts of issues. Not user-friendly. Inconvenient to have to enter ATM # to log on; only allows me to deposit into checking, but not my savings...it s easier to go down to the bank than to deal with this app... Please redesign this app and get it up to par with other top tier financial institution apps... This looks like a 1.0 app or web app. Just opened an account and I am very disappointed with this app. Designed for gingerbread and low res devices. Navigating the app is super outdated compared to other banks android apps. The camera software makes mobile deposits a chore to do. All check come out barely legible. This app desperately needs a makeover! This is just a wrapper for the web interface, mainly. It s annoying to navigate, slow to respond, and generally ugly. It hasn t been updated in years, so there s not even an attempt to follow Android design guidelines or include a Holo theme. It s pretty disappointing for one of the largest corporations in the world. 17
U.S. BANKING APPS REPORT: CUSTOMER REVIEWS Application is Poorly Designed Below is a breakdown by platform of apps that received at least two comments giving this feedback. ios BANK J.P.Morgan Chase & Co U.S. Bancorp HSBC North America Holdings Capital One PNC Financial Services Group TD Bank US Holding Company BB&T Corporation Suntrust Banks American Express Company Ameriprise Financial RBS Citizens Financial Group APP Chase Mobile (SM) U.S. Bank HSBC Mobile Banking Capital One Mobile Virtual Wallet by PNC TD Bank (US) BB&T Banking for ipad SunTrust Mobile App Amex Mobile Ameriprise Financial Citizens Bank Mobile Banking Charter One Mobile Banking Fifth Third Bancor Regions Financial Corporation BMO Financial Corp M&T Bank Corporation Comerica Incorporated Huntington Bancshares Incorporated Zions Bancorporation Utrecht - America Holdings Associated Banc-Corp First Citizens BancShares Fifth Third Mobile Banking Regions Mobile BMO Harris Mobile Banking M&T Mobile Banking Comerica Mobile Banking(sm) Huntington Mobile for ipad Zions Bank Mobile Banking Rabobank Mobile Banking Associated Mobile Banking First Citizens Mobile Banking 18
U.S. BANKING APPS REPORT: CUSTOMER REVIEWS Application is Poorly Designed Below is a breakdown by platform of apps that received at least two comments giving this feedback. Android BANK J.P.Morgan Chase & Co Citigroup Wells Fargo & Company U.S. Bancorp HSBC North America Holdings Capital One PNC Financial Services Group TD Bank US Holding Company BB&T Corporation Regions Financial Corporation BMO Financial Corp United Services Automobile Association BancWest Corporation APP Chase Mobile Citi Mobile (SM) Wells Fargo Mobile U. S. Bank HSBC Mobile Banking Capital One Mobile Virtual Wallet tablet by PNC TD Bank (US) BB&T Mobile Banking Regions Bank BMO Mobile Banking USAA Mobile Bank of the West Mobile FHB Mobile Banking Discover Financial Services Associated Banc-Corp First Citizens BancShares Discover Mobile Associated Mobile Banking First Citizens Mobile Banking 19
U.S. BANKING APPS REPORT: CUSTOMER REVIEWS Customers Feedback (continued) No Deposit or Deposit Limit is too Low PROBLEM Application has no deposit feature or deposit limit is too low CAUSE The cause of this issue is obvious, as it is exactly what the feedback states: the app either has no deposit feature, or the mobile deposit limit is lower than customers expect. SOLUTION Banks should meet customer expectations for a mobile app; generally, an app s functionality should match as closely as possible what a customer can do online or in a branch. A mobile deposit feature should be standing in a banking app, and the limit should match what the customer can deposit through standard means. QUOTES We selected a few quotes from customers to highlight what they think about apps with these sorts of issues. Like many others, mobile deposits rarely complete for me. After uploading the images, it just spins forever and never completes the transaction, even though the deposit actually goes through About ready to change banks because of it. I ve gotten one check out of at least twenty attempts deposited the one successful deposit took five or six attempts to be successful. So annoying. I certainly have no attachment to any bank. Easy to switch. Why is there a $1000 limit on mobile deposits? Since mobile deposit is my main reason for using the app, the limit makes the app useless to me since most of my checks are over that amount. Only one star till this issue is fixed. Disappointed that the ability to deposit checks is far beyond sub par. Good to look up balances real quick, but if other banks phone apps can let you deposit, why can t this one? 20
U.S. BANKING APPS REPORT: CUSTOMER REVIEWS No Deposit or Deposit Limit too Low Below is a breakdown by platform of apps that received at least two comments giving this feedback. ios BANK Citigroup Wells Fargo & Company HSBC North America Holdings Capital One PNC Financial Services Group TD Bank US Holding Company BB&T Corporation RBS Citizens Financial Group Fifth Third Bancor UnionBanCal Corporation KeyCorp Santander Holdings USA M&T Bank Corporation BancWest Corporation Huntington Bancshares Incorporated Zions Bancorporation People's United Financial (PBCT) BOK Financial Corporation (BOKF) Synovus Financial Corp. Associated Banc-Corp First Citizens BancShares APP Citibank for ipad Wells Fargo Mobile HSBC Mobile Banking Capital One Mobile PNC Mobile for ipad TD Bank (US) BB&T Mobile Banking BB&T Banking for ipad Citizens Bank Mobile Banking Charter One Mobile Banking Fifth Third Mobile Banking Union Bank Mobile Banking KeyBank Mobile KeyBank for ipad Personal Banking M&T Mobile Banking FHB Online for ipad FHB Mobile Banking Huntington Mobile Huntington Mobile for ipad Zions Bank Mobile Banking People's United Bank Mobile Banking for ipad Bank of Texas Mobile Banking Synovus Mobile Banking Associated Mobile Banking First Citizens Mobile Banking 21
U.S. BANKING APPS REPORT: CUSTOMER REVIEWS No Deposit or Deposit Limit too Low Below is a breakdown by platform of apps that received at least two comments giving this feedback. Android BANK Wells Fargo & Company TD Bank US Holding Company RBS Citizens Financial Group APP Wells Fargo Mobile TD Bank (US) Citizens Bank Mobile Banking Charter One Mobile Banking Fifth Third Bancor Regions Financial Corporation UnionBanCal Corporation KeyCorp BancWest Corporation BBVA USA Bancshares Comerica Incorporated Huntington Bancshares Incorporated Zions Bancorporation First Niagara Financial Group Fifth Third Mobile Banking Regions Bank Union Bank Mobile Banking KeyBank Mobile Bank of the West Mobile BBVA Compass Mobile Banking Comerica Mobile Banking Huntington Mobile Zions Bank Mobile Banking First Niagara Mobile Banking 22
U.S. BANKING APPS REPORT: CUSTOMER REVIEWS Analysis of Findings Platforms of Choice The U.S. banks have impressive coverage across both platforms. There is some catching up to do to reach full coverage, but we expect the banks have that as part of their roadmap. ios Android Both 87% 83% 79% Average Rating An interesting trend is that the average rating of ios apps is higher for all versions than the current version. This indicates that ios apps could be worsening, instead of getting better with each release. Banks need to have an established roadmap prior to development so that each release is an improvement that spurs positive feedback and ratings. The average Android ratings are higher than ios, indicating that Android provides a superior mobile banking experience. Because Google Play only allows the ratings for only the current version to be viewed, we cannot compare all to current as we can with ios. As a note, the ios and Android app stores report ratings differently: itunes shows the most current version s ratings as the default view when available, whereas Google Play shows data for all versions. Organizations often release an app that still needs improvement in a rush to launch and later upgrade based on customer feedback. It is critical to ensure each release is bug-free, not bata tested on users and fully developed as an app s rating will often be depicted by the latest release. ios CURRENT VERSION: ios ALL VERSIONS: Android ALL VERSIONS: 2.8 /5 3.3 /5 3.8 /5 23
U.S. BANKING APPS REPORT: CUSTOMER REVIEWS Analysis of Findings (continued) Highest and Lowest Rated Our research shows that the number of highest-rated Android apps either matches or exceeds the number of highest-rated ios apps. Following the same trend, there are significantly more low-rated ios apps than Android apps. As with the average ratings, both sets of numbers indicate that customers find Android to provide a better experience. Number of High-Rated Apps Number of Low-Rated Apps 13 17 18 2 It s interesting to note that when looking at the top 15 banks* as ranked by total assets: There is only one bank on the highest ios list Eight of the banks are on the highest Android list (PNC Financial Services Group has two apps on this list) Seven of the banks are on the lowest ios list (PNC Financial Services Group has three apps on this list) There are no banks on the lowest Android list Clearly there is a significant investment to be made by these banks, particularly on the ios platform. *Below is the list of the top 15 banks as ranked by total assets by www.relbanks.com : 1. J.P.Morgan Chase & Co 2. Bank of America Corp 3. Citigroup 4. Wells Fargo & Company 5. Goldman Sachs Group 6. Morgan Stanley 7. Bank of New York Mellon 8. U.S. Bancorp 9. HSBC North America Holdings 10. Capital One 11. PNC Financial Services Group 12. State Street Corporation 13. TD Bank US Holding Company 14. Principal Financial Group 15. BB&T Corporation 24
U.S. BANKING APPS REPORT: CUSTOMER REVIEWS Analysis of Findings (continued) Customers Feedback Complaints about buggy applications crashes, freezing, error messages, issues with connectivity, opening, and loading top the list of grievances across platforms. Poor design and deposit issues were the other top-ranking complaints. This is baseline functionality that customers expect at a minimum through their mobile experience. The lacking functionality would act as a significant frustration and thus deterrent for overall usage. Appendix B shows the feedback given for each app about other functionality that is lacking or faulty. Negative feedback correlates with low ratings: consumers are clearly telling banks that they will not tolerate a frustrating experience when it comes to managing their finances on mobile. Considering that one in six consumers who switch banks indicate a poor mobile banking experience prompted the switch, banks cannot afford to have an app plagued by bugs and other issues. 4 At the very least, consumers should have access to the same functionality, and experience similar ease of use and overall satisfaction through their mobile banking experience as their traditional banking experience. Given the current growth of mobile usage, a bank will ideally take a step further to offer a superior mobile experience which can act as a differentiator and position them as innovative leaders in the industry. Having a mobile app gives banks a significant opportunity to better understand the behavior of their customers and thus further engage with them. Banks need to update their apps often in order to fix issues, remain relevant, and boost their ratings in the app marketplace. 4 Google Think Insights. (October 2012). Mobile Banking Trends 2012. Retrieved from http://www.google.com/think/research-studies/mobilebanking-trends-2012.html 25
U.S. BANKING APPS REPORT: CUSTOMER REVIEWS Conclusion We are just reaching the breakout point for mobile banking, and many of the top providers are already overly complacent with their offerings. The trailblazers in our industry are the ones who think about mobile at every step of their business and product. Mobile is no longer an afterthought or a checklist item to just get done - it is a necessity. Based on the findings of the report, our observation is that the mobile experience offered by the top U.S. banks has significant room for improvement. Whereas the U.S. Banks have impressive coverage across both ios and Android platforms, over 20% of the banks are lacking an app on both platforms. Banks are losing out on a significant opportunity here, given that 51%-76% of mobile users want to use their device to call customer service, check balances, transfer money, pay bills, and look up branch locations and hours. 5 In general, banks need to focus on a better ios experience compared to Android, as Android outperformed ios apps in terms of overall ratings. Banks have invested more in developing for the ios platform, so they should maximize this investment and ensure that they have a topperforming app. Customers will not engage in mobile banking as a daily activity and definitely will not have a bank s app on the first screen of their mobile device if an app does not meet their expectations. With their enormous assets, the banks researched for this report have no reason for not having a superb mobile offering. In fact, they cannot afford to have a poorly-performing app, or no app at all. Banks that ignore major customer groups, have poor ratings, and do not respond to complaints, are losing customers, losing revenue, and damaging their brand. Our research combined with our expertise in mobile strategy and product development should provide these and other banks with some ideas for how to design a mobile app, as well as the incentives for providing one. 5 Google Think Insights. (October 2012). Mobile Banking Trends 2012. Retrieved from http://www.google.com/think/research-studies/mobilebanking-trends-2012.html 26
FINANCIAL SERVICES Appendix A: List of Banks
U.S. BANKING APPS REPORT: CUSTOMER REVIEWS Appendix The following list of banks was taken from www.relbanks.com on May 17, 2013. They are listed in order from highest to lowest by total assets. BANK # of ios Apps # of Android Apps 1 J.P.Morgan Chase & Co 4 2 2 Bank of America Corp 2 2 3 Citigroup 2 1 4 Wells Fargo & Company 2 1 5 Goldman Sachs Group 0 0 6 Morgan Stanley 0 0 7 Bank of New York Mellon 1 0 8 U.S. Bancorp 2 1 9 HSBC North America Holdings 1 1 10 Capital One 1 1 11 PNC Financial Services Group 4 3 12 State Street Corporation 1 1 13 TD Bank US Holding Company 1 1 14 Principal Financial Group 0 1 15 BB&T Corporation 2 1 16 Ally Financial 1 1 17 SunTrust Banks 1 1 18 American Express Company 2 3 19 Ameriprise Financial 1 1 20 RBS Citizens Financial Group 2 2 21 Fifth Third Bancor 1 1 22 Regions Financial Corporation 2 1 23 Charles Schwab Corporation 1 1 24 BMO Financial Corp 2 2 25 United Services Automobile Association 2 1 26 UnionBanCal Corporation 1 1 27 Northern Trust Corporation 1 1 28 KeyCorp 2 1 29 Santander Holdings USA 1 1 28
U.S. BANKING APPS REPORT: CUSTOMER REVIEWS Appendix The following list of banks was taken from www.relbanks.com on May 17, 2013. They are listed in order from highest to lowest by total assets. BANK # of ios Apps # of Android Apps 30 M&T Bank Corporation 1 1 31 BancWest Corporation 4 2 32 Discover Financial Services 2 1 33 BBVA USA Bancshares 2 1 34 Comerica Incorporated 1 1 35 Deutsche Bank Trust Company Americas 1 0 36 Huntington Bancshares Incorporated 2 1 37 Zions Bancorporation 2 1 38 Utrecht - America Holdings 2 1 39 E*TRADE Financial Corp 0 0 40 CIT Group Inc. 0 0 41 New York Community Bancorp 0 0 42 Hudson City Bancorp 0 0 43 Popular, Inc. 1 1 44 First Niagara Financial Group 1 1 45 People's United Financial (PBCT) 2 1 46 City National Corp 1 1 47 BOK Financial Corporation (BOKF) 7 7 48 Synovus Financial Corp. 1 1 49 First Horizon National Corporation (FHNC) 1 0 50 Associated Banc-Corp 1 1 51 East West Bancorp 0 0 52 SVB Financial Group 2 2 53 First Citizens BancShares 1 1 29
FINANCIAL SERVICES Appendix B: Mobile App Data
ALLY FINANCIAL Ally Mobile Banking 2.0 CURRENT VERSION: 2.1.0 VERSION REVIEWED: 2.1.0 29% TOTAL S: 21 6 15 PERCENTAGE 71% PERCENTAGE LEGEND User Friendly Slow Login/Log off Issues Ally Mobile Banking 3.3 CURRENT VERSION: 2.0.0.6 67% TOTAL S: 1,196 798 398 PERCENTAGE 33% PERCENTAGE Bugs No Notifications Lacking Transfer Features Deposit Bill Paying Issues AMERICAN EXPRESS COMPANY Amex Mobile 3.5 CURRENT VERSION: 4.0.0 VERSION REVIEWED: 4.0.0 66% TOTAL S: 152 100 52 PERCENTAGE 34% PERCENTAGE Location Issues Not Compatible Lacks Credit Card Features Forced Updates Cannot Use on Multiple Devices Better Website Amex Mobile 4.4 CURRENT VERSION: 4.0.2 91% TOTAL S: 5,004 4,554 450 PERCENTAGE 9% PERCENTAGE Balance Does Not Update Cannot View Full Statements Cannot Access All Accounts Poor Design Unable to Pay Contacts Amex for ipad 4.5 TOTAL S: 10 9 1 CURRENT VERSION: 4.20 VERSION REVIEWED: 4.20 PERCENTAGE PERCENTAGE 90% 10% Favorable is defined as a rating greater or equal to 3 stars Negative is defined as a rating less than 3 stars The Current Version refers to the most recent version listed at time when research was conducted. Amex for Android CURRENT VERSION: 4.20 * Varies with device 4.1 TOTAL S: 143 115 28 PERCENTAGE PERCENTAGE 80% 20% Bluebird by American Express CURRENT VERSION: 1.6.0.0 3.9 TOTAL S: 1,090 850 240 PERCENTAGE PERCENTAGE 78% 22%
AMERIPRISE FINANCIAL Ameriprise Financial CURRENT VERSION: 1.3.0 VERSION REVIEWED: 1.3.0 LEGEND 2.0 TOTAL S: 12 3 9 PERCENTAGE PERCENTAGE 25% 75% User Friendly Slow Login/Log off Issues Ameriprise Financial 3.4 TOTAL S: 144 94 50 CURRENT VERSION: 7.3.12.14 PERCENTAGE PERCENTAGE 65% 35% Bugs No Notifications Lacking Transfer Features Deposit Bill Paying Issues Location Issues ASSOCIATED BANC-CORP Not Compatible Associated Mobile Banking CURRENT VERSION: 1.0.8 Lacks Credit Card Features 3.5 TOTAL S: 83 63 20 PERCENTAGE PERCENTAGE 76% 24% Forced Updates Cannot Use on Multiple Devices Better Website Balance Does Not Update Associated Mobile Banking CURRENT VERSION: 1.0.5 Cannot View Full Statements 4.3 TOTAL S: 361 324 37 PERCENTAGE PERCENTAGE 90% 10% Cannot Access All Accounts Poor Design Unable to Pay Contacts Favorable is defined as a rating greater or equal to 3 stars Negative is defined as a rating less than 3 stars The Current Version refers to the most recent version listed at time when research was conducted. * Varies with device
BANCWEST CORPORATION Bankwest CURRENT VERSION: 1.3.2 VERSION REVIEWED: NA LEGEND TOTAL S: No Data Available PERCENTAGE User Friendly PERCENTAGE Slow Login/Log off Issues Bankwest 3.8 TOTAL S: 402 CURRENT VERSION: 1.50 313 89 PERCENTAGE PERCENTAGE 78% 22% Bugs No Notifications Lacking Transfer Features Deposit Bill Paying Issues Bank of the West Mobile Banking for ipad 4.5 TOTAL S: 7 6 1 CURRENT VERSION: 2.0.3 VERSION REVIEWED: 2.0.3 PERCENTAGE PERCENTAGE 86% 14% Location Issues Not Compatible Lacks Credit Card Features Forced Updates Cannot Use on Multiple Devices Bank of the West Mobile CURRENT VERSION: 2.0.3 Better Website 3.7 TOTAL S: 161 119 42 PERCENTAGE PERCENTAGE 74% 26% Balance Does Not Update Cannot View Full Statements Cannot Access All Accounts Poor Design Unable to Pay Contacts Bank of the West Mobile Banking CURRENT VERSION: 2.0.3 VERSION REVIEWED: 2.0.3 3.5 TOTAL S: 22 15 7 PERCENTAGE PERCENTAGE 68% 32% Favorable is defined as a rating greater or equal to 3 stars Negative is defined as a rating less than 3 stars FHB Mobile Banking 3.5 TOTAL S: 61 38 23 CURRENT VERSION: 3.0.1 PERCENTAGE PERCENTAGE 62% 38% The Current Version refers to the most recent version listed at time when research was conducted. * Varies with device FHB Mobile Banking 2.8 CURRENT VERSION: 3.0.1.136 48% TOTAL S: 93 45 48 PERCENTAGE 52% PERCENTAGE
BANCWEST CORPORATION FHB Online for ipad CURRENT VERSION: 3.0.1 LEGEND 3.5 TOTAL S: 7 4 3 PERCENTAGE PERCENTAGE 57% 43% User Friendly Slow Login/Log off Issues BANK OF AMERICA CORP Bugs No Notifications Bank of America - Mobile Banking CURRENT VERSION: 4.2.102 VERSION REVIEWED: 4.2.102 Lacking Transfer Features 2.0 TOTAL S: 448 143 305 PERCENTAGE PERCENTAGE 32% 68% Deposit Bill Paying Issues Location Issues Not Compatible Bank of America CURRENT VERSION: 4.2.55 Lacks Credit Card Features 4.2 TOTAL S: 91,483 80,174 11,309 PERCENTAGE PERCENTAGE 88% 12% Forced Updates Cannot Use on Multiple Devices Better Website Balance Does Not Update Bank of America for ipad CURRENT VERSION: 4.2.030 VERSION REVIEWED: 4.2.030 Cannot View Full Statements 3.0 TOTAL S: 83 47 36 PERCENTAGE PERCENTAGE 57% 43% Cannot Access All Accounts Poor Design Unable to Pay Contacts Bank of America for Tablet 3.4 TOTAL S: 226 152 74 CURRENT VERSION: 4.3.53 PERCENTAGE PERCENTAGE 67% 33% Favorable is defined as a rating greater or equal to 3 stars Negative is defined as a rating less than 3 stars The Current Version refers to the most recent version listed at time when research was conducted. BANK OF NEW YORK MELLON * Varies with device BNY Mellon Private Banking CURRENT VERSION: 1.0.2 VERSION REVIEWED: NA TOTAL S: No Data Available PERCENTAGE PERCENTAGE
BB&T CORPORATION BB&T Mobile Banking CURRENT VERSION: 3.0.7 VERSION REVIEWED: 3.0.7 LEGEND 3.0 TOTAL S: 16 8 8 PERCENTAGE PERCENTAGE 50% 50% User Friendly Slow Login/Log off Issues BB&T Mobile Banking CURRENT VERSION: 3.0.7 4.2 TOTAL S: 2,447 PERCENTAGE 2,120 327 PERCENTAGE 13% 87% Bugs No Notifications Lacking Transfer Features Deposit Bill Paying Issues BB&T Banking for ipad CURRENT VERSION: 1.0.1 VERSION REVIEWED: 1.0.1 Location Issues 2.0 TOTAL S: 100 27 73 PERCENTAGE PERCENTAGE 27% 73% Not Compatible Lacks Credit Card Features Forced Updates Cannot Use on Multiple Devices BBVA USA BANCSHARES BBVA Compass United States 2.0 TOTAL S: 9 2 7 CURRENT VERSION: 3.0.1 VERSION REVIEWED: 3.0.1 New version has been released since reasearch completed PERCENTAGE PERCENTAGE 22% 78% Better Website Balance Does Not Update Cannot View Full Statements Cannot Access All Accounts Poor Design Unable to Pay Contacts BBVA Compass Mobile Banking 3.6 TOTAL S: 1,630 CURRENT VERSION: 2.1.0 1,197 433 PERCENTAGE PERCENTAGE 73% 27% Favorable is defined as a rating greater or equal to 3 stars Negative is defined as a rating less than 3 stars The Current Version refers to the most recent version listed at time when research was conducted. BBVA Compass Mobile Banking (HD) CURRENT VERSION: 2.10 VERSION REVIEWED: 2.10 * Varies with device 4.0 TOTAL S: 6 6 0 PERCENTAGE PERCENTAGE 100% 0%
BMO FINANCIAL CORP BMO Mobile Banking CURRENT VERSION: 2.00 VERSION REVIEWED: 2.00 LEGEND 1.5 TOTAL S: 8 2 6 PERCENTAGE PERCENTAGE 25% 75% User Friendly Slow Login/Log off Issues BMO Mobile Banking 3.6 TOTAL S: 349 268 81 CURRENT VERSION: VWD* PERCENTAGE PERCENTAGE 77% 23% Bugs No Notifications Lacking Transfer Features Deposit Bill Paying Issues BMO Harris Mobile Banking 2.5 TOTAL S: 47 16 31 CURRENT VERSION: 2.6.6.53 VERSION REVIEWED: 2.6.6.53 PERCENTAGE PERCENTAGE 34% 66% Location Issues Not Compatible Lacks Credit Card Features Forced Updates Cannot Use on Multiple Devices BMO Harris Mobile Banking CURRENT VERSION: 2.6.0.1081 Better Website 2.8 TOTAL S: 364 178 186 PERCENTAGE PERCENTAGE 49% 51% Balance Does Not Update Cannot View Full Statements Cannot Access All Accounts Poor Design Unable to Pay Contacts Favorable is defined as a rating greater or equal to 3 stars Negative is defined as a rating less than 3 stars The Current Version refers to the most recent version listed at time when research was conducted. * Varies with device
BOK FINANCIAL CORPORATION (BOKF) Bank of Albuquerque Mobile Banking CURRENT VERSION: 1.50 LEGEND 4.5 TOTAL S: 18 16 2 PERCENTAGE PERCENTAGE 89% 11% User Friendly Slow Login/Log off Issues Bank of Albuquerque Mobile 4.8 TOTAL S: 67 66 1 CURRENT VERSION: 1.50 PERCENTAGE PERCENTAGE 99% 1% Bugs No Notifications Lacking Transfer Features Deposit Bill Paying Issues Bank of Arkansas Mobile Banking TOTAL S: No Data Available CURRENT VERSION: 1.50 VERSION REVIEWED: NA PERCENTAGE PERCENTAGE Location Issues Not Compatible Lacks Credit Card Features Forced Updates Cannot Use on Multiple Devices Bank of Arkansas CURRENT VERSION: 1.50 Better Website 5.0 TOTAL S: 3 3 0 PERCENTAGE PERCENTAGE 100% 0% Balance Does Not Update Cannot View Full Statements Cannot Access All Accounts Poor Design Bank of Arizona Mobile Banking CURRENT VERSION: 1.50 VERSION REVIEWED: NA Unable to Pay Contacts TOTAL S: No Data Available PERCENTAGE PERCENTAGE Favorable is defined as a rating greater or equal to 3 stars Negative is defined as a rating less than 3 stars Bank of Arizona Mobile CURRENT VERSION: 1.50 The Current Version refers to the most recent version listed at time when research was conducted. 4.8 TOTAL S: 11 11 0 PERCENTAGE PERCENTAGE 100% 0% * Varies with device
BOK FINANCIAL CORPORATION (BOKF) Colorado State Bank and Trust Mobile Banking CURRENT VERSION: 1.50 LEGEND 4.0 TOTAL S: 5 4 1 PERCENTAGE PERCENTAGE 80% 20% User Friendly Slow Login/Log off Issues CSBT Mobile Banking 4.9 TOTAL S: 16 16 0 CURRENT VERSION: 1.50 PERCENTAGE PERCENTAGE 100% 0% Bugs No Notifications Lacking Transfer Features Deposit Bill Paying Issues Bank of Kansas City Mobile Banking TOTAL S: No Data Available CURRENT VERSION: 1.50 VERSION REVIEWED: NA PERCENTAGE PERCENTAGE Location Issues Not Compatible Lacks Credit Card Features Forced Updates Cannot Use on Multiple Devices Bank of Kansas City Mobile CURRENT VERSION: 1.50 Better Website 5.0 TOTAL S: 8 8 0 PERCENTAGE PERCENTAGE 100% 0% Balance Does Not Update Cannot View Full Statements Cannot Access All Accounts Poor Design Unable to Pay Contacts Favorable is defined as a rating greater or equal to 3 stars Negative is defined as a rating less than 3 stars The Current Version refers to the most recent version listed at time when research was conducted. * Varies with device
BOK FINANCIAL CORPORATION (BOKF) Bank of Oklahoma Mobile Banking CURRENT VERSION: 1.50 VERSION REVIEWED: 1.50 LEGEND 2.5 TOTAL S: 8 3 5 PERCENTAGE PERCENTAGE 38% 63% User Friendly Slow Login/Log off Issues Bank of Oklahoma Mobile 4.7 TOTAL S: 278 267 11 CURRENT VERSION: 1.50 PERCENTAGE PERCENTAGE 96% 4% Bugs No Notifications Lacking Transfer Features Deposit Bill Paying Issues Bank of Texas Mobile Banking 4.0 TOTAL S: 32 25 7 CURRENT VERSION: 1.50 PERCENTAGE PERCENTAGE 78% 22% Location Issues Not Compatible Lacks Credit Card Features Forced Updates Cannot Use on Multiple Devices Bank of Texas Mobile CURRENT VERSION: 1.50 VERSION REVIEWED: All Better Website 4.6 TOTAL S: 78 76 2 PERCENTAGE PERCENTAGE 97% 3% Balance Does Not Update Cannot View Full Statements Cannot Access All Accounts Poor Design Unable to Pay Contacts Favorable is defined as a rating greater or equal to 3 stars Negative is defined as a rating less than 3 stars The Current Version refers to the most recent version listed at time when research was conducted. * Varies with device
CAPITAL ONE Capital One Mobile CURRENT VERSION: 4.1.64 VERSION REVIEWED: 4.1.64 LEGEND 2.5 TOTAL S: 110 44 66 PERCENTAGE PERCENTAGE 40% 60% User Friendly Slow Login/Log off Issues Capital One Mobile 3.9 TOTAL S: 12,937 CURRENT VERSION: 4.01.64 10,212 2,725 PERCENTAGE PERCENTAGE 79% 21% Bugs No Notifications Lacking Transfer Features Deposit Bill Paying Issues CHARLES SCHWAB CORPORATION Location Issues Not Compatible Schwab Mobile CURRENT VERSION: 3.1.0.301 VERSION REVIEWED: 3.1.0.301 Lacks Credit Card Features 2.5 TOTAL S: 15 5 10 PERCENTAGE PERCENTAGE 33% 67% Forced Updates Cannot Use on Multiple Devices Better Website Balance Does Not Update Schwab Mobile CURRENT VERSION: 3.1.0.18 Cannot View Full Statements 4.1 TOTAL S: 1,530 1,286 244 PERCENTAGE PERCENTAGE 84% 16% Cannot Access All Accounts Poor Design Unable to Pay Contacts Favorable is defined as a rating greater or equal to 3 stars Negative is defined as a rating less than 3 stars The Current Version refers to the most recent version listed at time when research was conducted. * Varies with device
CITIGROUP Citi Mobile (sm) CURRENT VERSION: 4.90 VERSION REVIEWED: 4.90 LEGEND 2.5 TOTAL S: 31 16 15 PERCENTAGE PERCENTAGE 52% 48% User Friendly Slow Login/Log off Issues Citi Mobile (SM) CURRENT VERSION: 4.90 TOTAL S: 3,281 75% PERCENTAGE 3.7 2,458 823 25% PERCENTAGE Bugs No Notifications Lacking Transfer Features Deposit Bill Paying Issues Citibank for ipad 3.0 TOTAL S: 34 18 16 CURRENT VERSION: 2.10 VERSION REVIEWED: 2.10 PERCENTAGE PERCENTAGE 53% 47% Location Issues Not Compatible Lacks Credit Card Features Forced Updates Cannot Use on Multiple Devices CITY NATIONAL CORP Better Website Balance Does Not Update City National Mobile CURRENT VERSION: 3.0.1.434 Cannot View Full Statements 4.0 TOTAL S: 37 28 9 PERCENTAGE PERCENTAGE 76% 24% Cannot Access All Accounts Poor Design Unable to Pay Contacts City National Mobile 4.1 TOTAL S: 32 25 7 CURRENT VERSION: 2.6.0.617 PERCENTAGE PERCENTAGE 78% 22% Favorable is defined as a rating greater or equal to 3 stars Negative is defined as a rating less than 3 stars The Current Version refers to the most recent version listed at time when research was conducted. * Varies with device
COMERICA INCORPORATED Comerica Mobile Banking(sm) CURRENT VERSION: 1.1.4 VERSION REVIEWED: 1.1.4 LEGEND 2.0 TOTAL S: 17 6 11 PERCENTAGE PERCENTAGE 35% 65% User Friendly Slow Login/Log off Issues Comerica Mobile Banking 3.3 TOTAL S: 383 239 CURRENT VERSION: 1.0.7.73353 144 PERCENTAGE PERCENTAGE 62% 38% Bugs No Notifications Lacking Transfer Features Deposit Bill Paying Issues DEUTSCHE BANK TRUST COMPANY Location Issues Not Compatible Meine Bank 3.0 CURRENT VERSION: 1.9.0 VERSION REVIEWED: 1.9.0 50% TOTAL S: 6 3 3 PERCENTAGE 50% PERCENTAGE Lacks Credit Card Features Forced Updates Cannot Use on Multiple Devices Better Website Balance Does Not Update Cannot View Full Statements Cannot Access All Accounts Poor Design Unable to Pay Contacts Favorable is defined as a rating greater or equal to 3 stars Negative is defined as a rating less than 3 stars The Current Version refers to the most recent version listed at time when research was conducted. * Varies with device
DISCOVER FINANCIAL SERVICES Discover Mobile CURRENT VERSION: 4.3.0 VERSION REVIEWED: 4.3.0 LEGEND 3.0 TOTAL S: 23 12 11 PERCENTAGE PERCENTAGE 52% 48% User Friendly Slow Login/Log off Issues Discover Mobile 4.0 TOTAL S: 4,435 CURRENT VERSION: 4.3.2 3,645 790 PERCENTAGE PERCENTAGE 82% 18% Bugs No Notifications Lacking Transfer Features Deposit Bill Paying Issues Discover for ipad 2.0 TOTAL S: 5 2 3 CURRENT VERSION: 4.3.1 VERSION REVIEWED: 4.3.1 PERCENTAGE PERCENTAGE 40% 60% Location Issues Not Compatible Lacks Credit Card Features Forced Updates Cannot Use on Multiple Devices Better Website Balance Does Not Update Cannot View Full Statements Cannot Access All Accounts Poor Design Unable to Pay Contacts Favorable is defined as a rating greater or equal to 3 stars Negative is defined as a rating less than 3 stars The Current Version refers to the most recent version listed at time when research was conducted. * Varies with device