2014 Keynote Banker Scorecard Results (Q2)
By Josh Galde | September 3, 2014
Online channels have become the battlefield for winning the hearts and minds of consumers. Performance, usability and brand perception are now closely tied, and can quickly influence a customer’s choice – positively or negatively. This is especially true in competitive verticals like Financial Services where the difference between the top players often comes down to the quality of the initial customer touchpoint. Having a way to accurately measure and benchmark the performance of your company’s digital platform against that of the competition is extremely important for internal audiences. Being able to say that you were ranked #1, or in the top tier of digital banking (by a trusted third party that has benchmarked online financial services for over 15 years) is equally valuable from a marketing and brand perspective.
What is the Keynote Banker Scorecard?
The Keynote Banker Scorecard is a biannual assessment of the online channel of the largest 22 banking institutions in the U.S. It is a fact-based, competitive benchmarking study designed to help retail banks identify strengths and opportunities in acquiring and servicing consumers through digital channels based on industry best practices. The Scorecard evaluates the banks’ public site content targeted towards consumers focusing on online banking offerings as well as optional features and content designed to work within or supplement online banking. The Scorecard uses approximately 400 objective, weighted criteria to measure: How well the bank collectively meets weighted criteria in four categories: Functionality, Ease of Use, Privacy & Security and Quality & Availability.
Who was included in the 2014 Keynote Banker Scorecard (Q2)?
- Bank of America
- Bank of the West
- BMO Harris
- Capital One
- Citizens Bank
- Fifth Third
- Huntington Bank
- Key Bank
- M&T Bank
- TD Bank
- Union Bank
- U.S. Bank
- Wells Fargo
Who won the 2014 Keynote Banker Scorecard (Q2)?
We are pleased to congratulate Bank of America for taking first place in the latest Keynote Banker Scorecard!
Who were the Top 3 winners of the 2014 Keynote Banker Scorecard (Q2)?
- 1st Place: Bank of America
- 2nd Place: Wells Fargo
- 3rd Place: Citibank
Top Scorers by Category:
- Functionality: Wells Fargo
- Ease of Use: Citibank
- Security: Citibank
- Quality & Availability: BMO Harris
How did Bank of America win the 2014 Keynote Banker Scorecard (Q2)?
The latest Banker Scorecard highlighted the continued leadership of Bank of America’s online platform. The bank’s site especially excels in providing a wide range of transaction and money movement capabilities, accompanied by ease of use best practices. The bank also offers extensive online self-servicing options to meet the diverse needs of the digital consumer banking market. Bank of America has also focus on enabling consumers to easily view product information and solutions, and to open or apply for new accounts online.
To obtain a copy of the complete this Scorecard and see where your company placed, please visit Keynote Competitive Intelligence.
Other key findings in the 2014 Keynote Banker Scorecard (Q2) include:
- Desktop navigation and design has evolved and improved so that customers are now able to complete common tasks, such as transfers, payments and transaction searches, more quickly; mobile phone and tablet apps continue to improve with more functionality, help, and efficient designs;
- Tablet functionality is improving but not at the pace of phone functionality;
- Money movement options continue to grow, with P2P payments capabilities expanding rapidly.
Keynote Scorecard Methodology
This Scorecard uses approximately 400 objective, weighted criteria to measure:
How well the bank collectively meets weighted criteria in four categories:
- Functionality Ease of Use
- Privacy & Security
- Quality & Availability
How well the site meets weighted criteria within five types of tasks:
- Open Accounts
- Look Up Information
- Get Service
- Learn and Plan
About Keynote Competitive Intelligence
Keynote Competitive Intelligence includes the Keynote Scorecards and Keynote Competitive Rankings. Keynote Competitive Rankings (KCR) benchmark the complete customer experience including site performance, usability and brand within the competitive context of a specific vertical. The studies include tasked-based usability research and performance measurements across multiple digital channels. This bi-annual study helps customers understand where they should focus to improve their customer experience and what top sites are doing to be the best. Verticals studied include financial services, travel, hospitality, and insurance.
Keynote Scorecards are fact-based, competitive benchmarking studies that measure and rank digital offerings based on 200 – 400 criteria reflecting industry best practices. The annual and bi-annual Scorecards are designed to help financial services companies identify their strengths and opportunities in acquiring and servicing consumers through their digital channels, and how they rank against their competitors in key categories and tasks. Learn more.