Javelin’s 2018 Online Banking Scorecard emphasizes six critical areas for banks to deepen engagement, maximize revenue, and build trusted, advice-driven relationships.
San Francisco, Calif., Sept. 18, 2018: Javelin Strategy & Research today announced its third annual Online Banking Awards. The rankings are based on Javelin’s 2018 Online Banking Scorecard report which measures the prevalence of 250 online features at 28 top U.S. financial institutions. It spotlights trends, best practices, and features in six categories that are fundamental to cementing long-term banking relationships built on advice and growing trust. Each category is weighted based on what consumers indicate as most important to online banking satisfaction.
For the second year in a row, Bank of America earned “Best in Class” and ranked as a leader in five out of six categories. Fifth Third, Huntington, Navy Federal Credit Union, SunTrust, U.S. Bank, USAA, and Wells Fargo ranked as leaders in at least one category.
2018 Online Banking Award Category Leaders (alphabetically):
Ease of Use: Bank of America, Navy Federal Credit Union, USAA, Wells Fargo
Security Empowerment: Bank of America, Navy Federal Credit Union, SunTrust
Financial Fitness: Bank of America, Navy Federal Credit Union, USAA
Money Movement: Fifth Third, Navy Federal Credit Union, SunTrust
Customer Service: Bank of America, SunTrust, U.S. Bank
Account Opening: Bank of America, Huntington, Wells Fargo
“Even though we are undeniably in the mobile-first era, customer satisfaction will suffer at FIs that fail to invest sufficiently in the online channel,” said Mark Schwanhausser, Director of Digital Banking at Javelin Strategy & Research. “Javelin’s 2018 Online Banking Scorecard enables FIs to assess and understand their online banking strengths and weaknesses and identify strategic and tactical opportunities that will set them apart from their peers.”
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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. (Twitter: @JavelinStrategy)