USAA Named Best Mobile Banking Solution by Key Lime Interactive, Android Fingerprint Login Arrives
In the June 30, 2016 release of Key Lime Interactive’s (KLI) bi-annual Mobile Banking Competitive Index report, USAA ranks highest among eight of the largest retail banks in the U.S. in the categories of mobile site, iPhone, iPad, and Android app. Maintains more than a 10% lead over nearest competitors in every category.
Miami, FL --“For years, USAA has consistently provided strong offerings in categories that are most important to consumers including a secure login process, robust bill pay capabilities, and financial management tools,” states Dana Bishop, Director of Quantitative Research and report co-author at KLI. “USAA not only provides a comprehensive set of features, but is an industry leader who has been on the front lines of mobile innovations for years.”
The scoring is determined by combining a capabilities assessment with user feature importance ratings. The capabilities assessment is created by examining the feature coverage of the financial institutions’ mobile sites and applications. User ratings are determined by a consumer survey and card sort. Then, KLI’s research team aligns what consumers value the most in their mobile banking offering with their scoring system. Scores in categories that consumers consider the most important are more heavily weighted than those in categories deemed less important. As a result, companies that are providing customers what they desire most receive the highest scores.
In December 2015, Navy moved up in Key Lime’s rankings from 8th to 3rd place overall, after significant updates to key areas including managing account settings, P2P transfers, pending payments, and security. Navy holds on to its 3rd place rank overall in this installment, and moves up to 2nd place—edging out Bank of America by a narrow margin—across all phone and tablet app categories. This move up in rank is due to recent app updates to its financial management tools, account settings and management capabilities.
Bank of America also sees a significant increase in its mobile app scores in Key Lime’s report, after adding several new security features and login capabilities.
“Although Android phones account for roughly 53% of the market, adoption of fingerprint-based login has been mostly restricted to iPhones up until now”, states Philip McGuinness, contributing researcher. “This is largely due to the fact that Android phones come in many shapes and sizes, and only some of the higher end models have had fingerprint-based identification services. The Android 6.0 Marshmallow operating system release made this a standard for fingerprint-enabled devices, which as now opened up the opportunity for developers to integrate this into their software more easily.”
Key Lime Interactive’s report highlights how a few companies took this opportunity to jump on this emerging trend. Fingerprint login is now available from Bank of America, Chase, and USAA.
“Since all of the iPhone apps in our report have embraced touch ID for login, we wouldn’t be surprised to see the rest of the Android apps jump on board with this update in the next year,” added McGuinness.
KLI has been publishing competitive index and benchmark reports since 2011 and include competitive assessment of mobile solutions in industries including banking, credit cards, auto insurance, home insurance, cruise, hotel reservations, fast food, and more.
In this Mobile Banking Competitive Index Report KLI research team evaluated and scored the mobile sites, iPhone and Android phone apps, and iPad apps of all eight competitors including Bank of America, Chase, Citibank, Navy Federal Credit Union (Navy), Pentagon Federal Credit Union (PenFed), USAA, U.S. Bank, and Wells Fargo.
Each mobile property assessment was completed as of June 1, 2016 (apps) and June 22 (mobile web).
Key Lime Interactive’s research team believes that companies who make innovation a strategic priority, and who are dedicated to investing in meeting consumer needs by delivering a best-in-class mobile experience, will gain market share. A report section, sold as part of the full report or separately, titled “Trends & Innovations” is dedicated to taking a glimpse into the future; it highlights current trends, evolving consumer needs and preferences, and predicts the most noteworthy elements to consider when endeavoring to provide a wholesome and successful user experience in the coming months and years.
To purchase the published report, please reach out to Key Lime Interactive for more information at sales@keylimeinteractive.com.
Researchers, Designers, Executives, Journalists and Bloggers in the Insurance and Finance Industries are encouraged to contact Key Lime Interactive with any additional questions.
KLI is a user experience research firm with proven excellence in both quantitative and qualitative user and consumer testing. To serve our growing client list of Fortune 100 companies, we conduct competitive research, true intent / voice of customer studies, and prototype studies using quantitative methods. Additionally, we're experienced in moderating one-on-one interviews/ usability studies, focus groups, and eye-tracking studies for both the traditional and mobile web. Ultimately, our goal is to empower teams to use consumer/user experience data at any and all phases of product development; from strategy to implementation. We aim to provide the true perspective of target users and build exceptional consumer-driven solutions.