Javelin Strategy & Research’s 2017 Online Banking Scorecard emphasizes six critical areas for banks to deepen customer engagement, maximize product sales, and build trusted, advice-driven relationships.
San Francisco, CA, October 11, 2017: Javelin Strategy & Research today announced its second annual Online Banking Awards. This competitive analysis of 28 of the nation’s top retail financial institutions examines more than 225 online banking features that contribute to banking success: Ease of use, Security Empowerment, Financial Fitness, Money Movement, Customer Service, and Account Opening.
Bank of America earns “Best in Class” in Javelin’s 2017 Online Banking Awards. Bank of America ranks as a leader in four of the six categories: Ease of Use, Security Empowerment, Financial Fitness, and Account Opening.
2017 Online Banking Award Leaders
Ease of Use Leaders: Bank of America, Navy Federal Credit Union, USAA
Security Empowerment Leaders: Bank of America, Chase, Navy Federal Credit Union
Financial Fitness Leaders: Bank of America, BBVA Compass, USAA
Money Movement Leaders: Fifth Third, Navy Federal Credit Union, SunTrust
Customer Service Leaders: Fifth Third, Navy Federal Credit Union, Sun Trust
Account Opening Leaders: Bank of America, Navy Federal Credit Union, Wells Fargo
“Although consumers are increasingly reaching for smartphones to conduct banking chores, online banking is a workhorse that FIs cannot afford to neglect,” said Mark Schwanhausser, Director of Digital Banking at Javelin. “It continues to serve as an essential touchpoint for deepening customer engagement, handling increasing volumes of product sales and effective onboarding, and building customer confidence in digital channels.”
2017 Online Banking Scorecard: Prioritize Features That Deliver Financial Control and Build Trust
For the 2017 Online Banking Scorecard: Prioritize Features That Deliver Financial Control and Build Trust report, Javelin assessed 28 top U.S. banks in six categories that are fundamental to banking relationships today and into the future. The scorecard measures more than 225 features that are compulsory by virtue of their widespread availability, as well as innovative features that can set an FI apart from the pack.
Javelin’s Online Banking Scorecard enables financial institutions to identify features that will enable them to achieve two key strategic goals; to serve as their customers’ primary FI for transactions, and to build trusted, advice-driven relationship that leads to being their customers’ first choice when they shop for additional financial products and services.
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About Javelin Strategy & Research
Javelin Strategy & Research, a Greenwich Associates LLC company, is a research-based advisory firm that helps its clients to make better-informed business decisions in a digital financial world. Our analysts offer unbiased, actionable insights and unearth opportunities that help financial institutions, government entities, payment companies, merchants, and other technology providers sustainably increase profits.