US Mobile Banking Emerging Features Benchmark 2022

How the Top 20 Financial Institutions Compare on Consumers’ Most In-Demand Features

Report by Matthew Gaughan  | Nov 28, 2022
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Report
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Scorecard
Deck
The One-Pager
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Table of Contents
Executive Summary
Key Findings
Action Points
US Banks’ Mobile Product Investments Have Never Been More Important
Leading US FIs in 2022
Customers’ Most Valued Features in 2022
No. 1: Security and Control
No. 2: Account Management
No. 3: Alerts
No. 4: Transfers
No. 5: Customer Service
No. 6: Digital Money Management
Methodology
Glossary
Survey Demographics
Appendix
Sources
Media Gallery
About This Report
This sixth annual study ranks mobile app capabilities across 20 US financial institutions on 42 emerging features, weighted by consumer demand.
Topics
Banking
United States
Table of Contents
Executive Summary
Key Findings
Action Points
US Banks’ Mobile Product Investments Have Never Been More Important
Leading US FIs in 2022
Customers’ Most Valued Features in 2022
No. 1: Security and Control
No. 2: Account Management
No. 3: Alerts
No. 4: Transfers
No. 5: Customer Service
No. 6: Digital Money Management
Methodology
Glossary
Survey Demographics
Appendix
Sources
Media Gallery

Executive Summary

US consumers are pulling back on new financial relationships amid recession worries, but those still looking for a new bank call mobile their top concern. This sixth annual study analyzes 42 emerging features across the top 20 US financial institutions’ mobile apps to determine which are best positioned to reel in prospects and keep existing customers satisfied.

3 KEY QUESTIONS THIS REPORT WILL ANSWER

  1. What are the most important emerging mobile banking features that US financial institutions (FIs) can offer?
  2. Which features do US mobile banking users value most?
  3. How do the top 20 FIs in the US compare in their support for these features?

WHAT’S IN THIS REPORT? An analysis of the most in-demand emerging mobile banking features an FI can offer to attract and engage customers, based on exclusive survey data. We rank the 20 largest US FIs according to their support of 42 features across six categories. FIs can use the findings to guide their product road map.

The Top 5 Most In-Demand US Mobile Banking Emerging Features, Sep 2022 (% of respondents calling the feature
E-Mail ChartDownload

KEY STAT: Data security remains consumers’ top priority. Seeing Social Security number (SSN) breach notifications was the study’s most in-demand feature for the second year in a row, with more than half of mobile banking users calling it “extremely valuable.”

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Table of Contents

  1. Executive Summary
  2. Key Findings
  3. Action Points
  4. US Banks’ Mobile Product Investments Have Never Been More Important
  5. Leading US FIs in 2022
  6. Customers’ Most Valued Features in 2022
  1. No. 1: Security and Control
  2. No. 2: Account Management
  3. No. 3: Alerts
  4. No. 4: Transfers
  5. No. 5: Customer Service
  6. No. 6: Digital Money Management
  1. Methodology
  2. Glossary
  3. Survey Demographics
  4. Appendix
  5. Sources
  6. Media Gallery

Charts in This Report

The Top 5 Most In-Demand US Mobile Banking Emerging Features, Sep 2022 (% of respondents calling the feature "extremely valuable")Most Important Factors When Choosing a New Bank According to US Mobile Banking Users, Sep 2021 & Sep 2022 (% of respondents)
Overall Mobile App Rank and Score of the Top 10 US Financial Institutions (rank out of 20, score out of 100*)Mobile App Rank of the Top 10 US Financial Institutions, by Category (rank out of 10)
The Top 3 In-Demand US Mobile Banking Features, by Category, Sep 2022 (% of respondents calling the feature "extremely valuable")Security and Control Mobile Feature Rank and Score of the Top 10 US Financial Institutions (rank out of 20, score out of 100*)
Security and Control Mobile Features of the Top 10 US Financial InstitutionsAccount Management Mobile Feature Rank and Score of the Top 10 US Financial Institutions (rank out of 20, score out of 100*)
Account Management Mobile Features of the Top 10 US Financial Institutions Alerts Mobile Feature Rank and Score of the Top 10 US Financial Institutions (rank out of 20, score out of 100*)
Alerts Mobile Features of the Top 10 US Financial Institutions Transfers Mobile Feature Rank and Score of the Top 10 US Financial Institutions (rank out of 20, score out of 100*)
Transfers Mobile Features of the Top 10 US Financial Institutions Customer Service Mobile Feature Rank and Score of the Top 10 US Financial Institutions
Customer Service Mobile Features of the Top 10 US Financial Institutions Digital Money Management Mobile Feature Rank and Score of the Top 10 US Financial Institutions (rank out of 20, score out of 100*)
Digital Money Management Mobile Features of the Top 10 US Financial Institutions Glossary: US Mobile Banking Emerging Features Benchmark 2022
Demographic Summary of Respondents, US Mobile Banking Emerging Features Benchmark 2022, Sep 2022 (% of total)

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Download
Report
Crosstabs
Scorecard
Deck
The One-Pager
Share
Table of Contents
Executive Summary
Key Findings
Action Points
US Banks’ Mobile Product Investments Have Never Been More Important
Leading US FIs in 2022
Customers’ Most Valued Features in 2022
No. 1: Security and Control
No. 2: Account Management
No. 3: Alerts
No. 4: Transfers
No. 5: Customer Service
No. 6: Digital Money Management
Methodology
Glossary
Survey Demographics
Appendix
Sources
Media Gallery
About This Report
This sixth annual study ranks mobile app capabilities across 20 US financial institutions on 42 emerging features, weighted by consumer demand.
Topics
Banking
United States
Table of Contents
Executive Summary
Key Findings
Action Points
US Banks’ Mobile Product Investments Have Never Been More Important
Leading US FIs in 2022
Customers’ Most Valued Features in 2022
No. 1: Security and Control
No. 2: Account Management
No. 3: Alerts
No. 4: Transfers
No. 5: Customer Service
No. 6: Digital Money Management
Methodology
Glossary
Survey Demographics
Appendix
Sources
Media Gallery
Download PDF

authors

Matthew Gaughan

Contributors

Tyler Brown
Senior Analyst
Caitlin Cahalan
Researcher, Financial Services
Ona Koehler
Senior Director, Benchmarking
Na Li
Director, Primary Research
Tiffani Montez
Principal Analyst, Banking