When it comes to offering cutting-edge mobile banking features
that consumers most value, Wells Fargo tops the list, according
to BI Intelligenceâs Mobile Banking Competitive Edge study. Banks
are increasingly putting mobile first to keep up with
consumers' growing reliance on digital channels, as a strong
suite of mobile offerings can now give them a major edge in
attracting customers.
To help banks understand how to differentiate and win customers
on mobile, we identified 33 key mobile banking features and
ranked them based on how important consumers say those
features are in choosing a new bank. Using this ranking, we
evaluated the mobile offerings of the top 15 US banks and credit
unions to select our 2017 Mobile Banking Pacesetters.
Bank of Americaâs commitment to digital is
undeniable.
 Like USAA, Bank of
America gained points for offering
its
 23
million mobile users rare features,
such as cardless ATM access, the ability to re-order or
disable a payment card in-app, and the ability to alert the
bank to travel plans. Bank of America tied with Wells Fargo
for first place in the security section, and tied for third
overall. Rank: 3rd
(tie). Overall
score:
 73 out of 100 points.
Citibank is reinventing itself as a digital-first
bank.
 Citi is in the midst of
a fundamental digital transformation â it launched 86 digital
features in 2016, and is on track to deploy 800 more in
2017. The volume of features offered by the
bank, including its range of biometric login options and
the ability to order a replacement card via mobile
banking, helped set it apart in this benchmark. Citi
received top marks in the wallets section of the
scorecard, thanks to its innovative mobile wallet Citi Pay,
and tied for third
overall. Rank: 3rd
(tie). Overall
score:
 73 out of 100 points.
Capital One is pioneering next-generation digital
banking experiences.
 Known for its
commitment to a superior user experience, Capital One rounded
out the top five in this scorecard with cutting-edge features
that position it for the future of digital banking.
Specifically, Capital One offers a conversational SMS
chatbot and an integration with Amazonâs Echo device for
voice-based banking. The bank tied with Wells Fargo and Citi
for first in the wallets category of the scorecard,
scored highest for social, and came in fifth
overall. Rank: 5th. Overall
score:
 72 out of 100 points.
BI Intelligence's Mobile Banking Competitive Edge study
ranks banks according to strength of their mobile offerings and
offers analysis on what banks need to do to win and retain
customers. The study is based on an August benchmark of
what features the 15 top US banks offer, and a dedicated
September 2017 study of 1,100 consumers on the importance of 32
cutting edge features in choosing a bank.
The full report will be available to BI Intelligence
enterprise clients in November. To learn more about this
report, email Senior Account Executive Chris
Roth (This email address is being protected from spambots. You need JavaScript enabled to view it.).
 BI
Intelligence's Mobile Banking Competitive Edge study includes:
Bank of America, BB&T, Capital One, Chase, Citibank, Fifth
Third, HSBC, Key Bank, Navy Federal Credit Union, PNC,
SunTrust, TD, US Bank, USAA, and Wells Fargo.