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J.D. Power released its US Banking Mobile Banking Satisfaction Survey of 2019, which included the largest US financial institutions based on consumer satisfaction ratings of their bank's mobile experience.
The study measured customer satisfaction with bank applications based on five criteria: clarity of information, ease of navigation, appearance, availability of key information, and range of services.
Huntington dominated the pack in terms of consumer satisfaction with applications among the largest banks.
- Huntington took first place in customer satisfaction – but had few outstanding features to explain its ranking. The bank, headquartered in Columbus, Ohio, with deposits of $ 78 billion, earned a score of 875 out of 1,000 possible points. In a review of Business Insider Intelligence's description of the app store and the bank's website, we encountered few advanced mobile features, suggesting that customers react to the features of the app other than the scope of the features. I (Dan Van Dyke) suspect that the positive consumer sentiment towards the brand may have inflated this ranking: Mr. Huntington recently finished second in the American Banker consumer chart for US banks. It is worth noting that USAA would have ranked first – as the bank has shared with Business Insider Intelligence via email – but its restriction of membership to people who serve or serve in the army and their family members did not make it "directly comparable" with others. banks in the study, according to a representative of JD Power communicating with Business Insider Intelligence by email.
- Capital One is second behind with 873 points and Citi third with 870 points. Unlike Huntington, both banks offer their clients differentiated features that one can expect from an application ranked first. Capital One, for example, provides customers with an advanced conversation badistant, while Citi offers rare features, such as the ability to challenge transactions in the application and aggregation of accounts. One possible reason why these banks would outperform Huntington despite the offer of advanced features is that customers can impose on the big banks a higher level: Capital One and Citi are respectively the 8th and 19th most popular apps in the finance category. Apple's App Store, while Huntington is much smaller at 91st.
When banks incorporate features into their mobile application, they face a growing challenge: preserving the user experience. The addition of new features is essential to attracting customers: 64% of mobile banking users who responded to the Business Insider Intelligence Mobile Banking Competitive Edge Study (Enterprise only)) indicated that they would look for the mobile functions of a bank before opening an account.
But too many features can also create a complex and difficult experience to manage. As applications become more and more powerful, banks should pay greater attention to the user experience and the airworthiness to help customers understand and use the application. JD Power's study emphasized the importance of creating an intuitive application to find that a "complete understanding of the client" of the application was "badociated with" a 130-point increase satisfaction ranking.
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