Mobile Banking Explodes and Keynote Announces Who Does It Best – One Billion Mobile Banking Consumers Expected by 2017
- Chase is repeat winner for top Overall Score among 15 large banks on Keynote's Spring 2013 Mobile Banking Scorecard
- Largest banks offer best app banking, while text banking leadership continues to be shown by smaller regional banks
- Mobile banking offerings continue to extend beyond traditional online banking features
SAN MATEO, Calif.--(BUSINESS WIRE)--May. 16, 2013-- Keynote® (NASDAQ: KEYN), the global leader in Internet and mobile cloud testing and monitoring, today announced the results of the Spring 2013 edition of the Keynote Mobile Banking Scorecard, first launched in 2011 and the standard in benchmarking consumer mobile banking offerings.
Chase achieved its third consecutive win for Overall Score, while also repeating were Wells Fargo in second place and Bank of America in third. Leaders for individual modes included BB&T for Text banking and Bank of America for its Android App. Looking across the five modes, the Scorecard found Chase performed best in two of the four categories, Functionality and Ease of Use, while Wells Fargo led in the Privacy & Security category and US Bank for the Quality & Availability category.
Keynote's latest Scorecard on who offers the best mobile banking experience could not come at a better time as a recent study reports that mobile banking is expected to reach one billion users by 2017. Advanced mobile banking functionality is a key factor in consumer acceptance with transactional mobile banking service expected to grow from 185 million in 2011 to over 550 million by 2016. These facts all underscore the importance and relevance of Keynote's latest Scorecard evaluating the mobile banking features and functionality of leading U.S. banks.
"The Scorecard assessment of mobile offerings by the top 14 retail banks and USAA indicates the largest institutions are focused on expanding functionality for mobile banking beyond the basics initially released two to three years ago, especially for smartphone apps," said Susan Foulds , manager of the Keynote Mobile Banking Scorecard. "We are seeing bill payment and transfer capabilities improve, eBills and P2P payments starting to emerge and more account self-service options. Text banking functionality has remained relatively limited in capabilities, but continues to serve a purpose for quick balance and transaction inquiries without requiring customers to sign in with their credentials."
Foulds continued: "Some banks are not updating their BlackBerry apps as they release enhancements for iPhone and Android. Most banks who offer BlackBerry apps are not updating them and are more focused on working to improve the customer experience for other mobile modes and launching tablet apps."
Keynote Competitive Research, the industry analysis group of Keynote, conducted the Spring 2013 Mobile Banking Scorecard study, measuring and ranking 15 of the largest retail banks, based on a set of 120 objective, weighted criteria tracked as applicable in each of five modes: Text, Mobile Web, iPhone App, Android App and BlackBerry App and grouped into four categories: Functionality, Ease of Use, Privacy & Security, and Quality & Availability. Banks evaluated for the Spring 2013 Keynote Mobile Banking Scorecard include (in alphabetical order) Bank of America, BB&T, Capital One, Chase, Citibank, Citizens, Fifth Third Bank, KeyBank, PNC, Regions Bank, SunTrust, TD Bank, USAA, U.S. Bank and Wells Fargo.
For further details about the Keynote Systems Mobile Banking Scorecard or to inquire about a Scorecard subscription, please visit: http://tinyurl.com/KeynoteMobileBanking.
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Keynote® (NASDAQ:KEYN) is the global leader in Internet and mobile cloud testing & monitoring. The company maintains the world's largest on-demand performance monitoring and testing infrastructure for Web and mobile sites comprised of over 7,000 measurement computers and mobile devices in over 275 locations around the world that enable companies to continuously improve the online and mobile experience. Keynote currently collects over 700 million mobile and Web performance measurements daily and in 2012 was recognized by Forbes as "One of the Best 100 Companies in America" with under one billion in revenue. Known as 'The Mobile and Internet Performance Authority™,' Keynote offers three market-leading product platforms:
Keynote Perspective® provides on-demand performance monitoring for enterprise Web and mobile sites including online portals, e-commerce sites and B2B sites. Over 2,000 customers rely on Keynote Perspective services to know precisely how their websites, content, and applications perform on actual browsers, networks, and mobile devices.
Keynote DeviceAnywhere® is the industry's leading cloud-based software platform for automated QA testing and monitoring of mobile applications and websites on real smartphones and tablets. DeviceAnywhere is used by over 1,000 mobile enterprises and developers to assure the highest quality experience of their connected mobile users.
Keynote SIGOS® offers active end-to-end Quality of Service (QoS) testing and monitoring solutions for mobile, fixed and VoIP communications. Its SITE and Global Roamer products are used by over 200 network operators, content providers, carriers and regulators in over 100 countries worldwide.
Keynote's 4,000 customers represent top Internet and mobile companies and include AT&T, Disney, eBay, E*TRADE, Expedia,Google, Microsoft, SonyEricsson, T-Mobile and Vodafone. Keynote Systems, Inc. is headquartered in San Mateo, California and can be reached at http://www.keynote.com/ or by phone in the U.S. at 1-800-KEYNOTE (1-800-539-6683).
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Source: Keynote Systems, Inc.