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Wells Fargo and USAA lead in offering mobile features consumers would switch banks for

  • Bank of America’s commitment to digital is undeniable.Like USAA, Bank of America gained points for offering its23 millionmobile 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 — it launched 86 digital features in 2016, and is on track to deploy 400 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 Amazon’s 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 33 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 Account Manager Stephanie Sharabianlou (ssharabianlou@businessinsider.com). 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.

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