Visitor Monitoring Wells Fargo Wins 2015 Small Business Banker Scorecard | Keynote

Wells Fargo Wins 2015 Small Business Banker Scorecard

By Susan Foulds | July 9, 2015

CATEGORIES: Performance Analytics

Wells FargoKeynote is pleased to announce that Wells Fargo came in first place for overall score in the Keynote 2015 Small Business Banker Scorecard, released June 30th.

Wells Fargo moved up from second to first place in this year’s Small Business Banker Scorecard. The company also came in first place in Keynote’s 2014 Mortgage Scorecard and in the Keynote Mobile Banking Scorecard Q1 2015 in a tie with Bank of America.

The Small Business Banker Scorecard, launched in 2008 and modeled on the highly regarded suite of Scorecards for online banking and financial services introduced in 1998, comparatively assesses small business digital banking capabilities offered by the seven largest U.S. retail banks. It is a fact-based, competitive benchmarking study designed to help banks identify strengths and opportunities in acquiring and servicing small businesses through digital channels based on industry best practices.

The Small Business Banker Scorecard uses approximately 400 objective, weighted criteria to measure online and mobile capabilities offer to small businesses, such as sole proprietors or businesses with less than five employees or contractors, through consumer-style digital banking that incorporates value-added services designed for small businesses. (Cash management and treasury products requiring customers to upgrade to a separate platform are not considered.)

Five key tasks are evaluated in the benchmark and the digital customer experience is measured against 400 objective criteria in four categories: Functionality, Ease of Use, Privacy & Security and Quality & Availability. Wells Fargo took 1st place in two of the four Scorecard Categories with Chase winning the other two Categories. Wells Fargo also came in 1st in four of the five Tasks, and Bank of America took first in one task.

Smaller and community banks are well known for focusing on and retaining their high-value small business customers with high-touch personalized banking services. The large national and regional banks have made significant inroads in the small business market in the last few years, however, on the strength of their digital banking capabilities that are better designed and suited for small businesses than a few years ago. A few of the largest U.S. banks, such as Wells Fargo, Bank of America, Chase and PNC, have bridged the chasm between consumer online banking and cash management or treasury platforms for larger business clients. They now offer small and start-up businesses digital solutions specifically designed for this business segment, with a familiar and uncomplicated consumer UI experience, and business services scaled down for smaller businesses, such as payroll, invoicing and B2B payments. Wells Fargo stands out with a suite of money movement options and payroll accessible through online banking. The site also displays an integrated view of not only business and personal deposit accounts, but also other accounts including credit, brokerage and retirement accounts. 

Who was included in the 2015 Keynote Small Business Banker Scorecard?

The Scorecard evaluates the seven largest U.S. retail deposit banks: Bank of America, Capital One, Chase, Citi, PNC, U.S. Bank and Wells Fargo.

Overall Winner: Wells Fargo

Top Scorers by Category:

  • Functionality: Wells Fargo
  • Ease of Use: Wells Fargo
  • Privacy & Security: Chase
  • Quality & Availability: Chase


Keynote’s Small Business Banker Scorecard measures digital banking capabilities against 400 objective, weighted criteria in four categories and five tasks.

Customer model: Sole proprietors or small businesses

  • Most have a small business deposit and credit accounts and some also link their personal banking account(s) to view and transfer funds
  • Most use money movement services and some use premium products specifically designed for small businesses.

Evaluation Scope:

  • Content and media to assist small business owners and managers
  • Entry-level small business online and mobile banking offerings
  • Optional features and content designed to work within or supplement entry-level small business online banking.

To obtain a copy of the complete report and see where the leading banks and financial service providers placed, please see Competitive Intelligence.

Next in line will be Keynote’s Mobile Banking Scorecard and Mortgage Scorecard, set for release in September 2015.

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