UserTesting studied why the top three largest U.S. banks, Bank of America, JPMorgan Chase, and Wells Fargo have experienced a gradual decline in growth of active mobile banking users.
In the process of its analysis the Mountain View, Calif. based UserTesting, which provides on demand customer insights, learned greater digital engagement directly affects a financial institution's bottom line.
To provide in-depth analysis of what is delighting or frustrating mobile banking customers, UserTesting published the "Banking Mobile Customer Experience Index," a competitive benchmarking study comparing the mobile app customer experience of BofA, Chase, and Wells Fargo. Three hundred customers evaluated the mobile banking apps based on five factors – ease of use, speed, credibility, aesthetics, and delight. The results can also help credit unions and other financial institution understand what drives mobile banking users.
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Roy Urrico
Roy W. Urrico specializes in articles about financial technology and services for Credit Union Times, as well as ghostwriting, copywriting, and case studies. Also: writer/editor of a semi-annual newsletter for Association for Financial Technology since 1997 and history projects funded by the U.S Interior Department, National Park Service and Warren County (N.Y.).
