Americans Rate the Best and Worst U.S. Mobile Banking Apps
Xtreme Labs released a new report on the best and worst mobile banking apps in the U.S. as rated by customers. The U.S. Banking Apps Report analyzes customer reviews from the Apple App Store and the Google Play Store between May 18 and June 25, 2013 for the top 53 U.S.
The report includes platform coverage, highest and lowest rankings, and common customer complaints with solutions for banks to improve their mobile offering.
Highlights from the Banking Apps Report include:
- The average rating on iOS is 2.8 stars for the current version of the app an 3.3 for all versions; average rating on Android is 3.8 stars for all versions.
- PNC Financial Services Group and BOK Financial Corporation roll out the most U.S. mobile offerings with seven apps each.
- Citizen’s Bank is the only bank with the highest rated apps on both Android (4.5 stars) and iOS (4.5 stars) platforms.
- When looking at the top 15 banks ranked by most assets, Android outperforms iOS apps in terms of overall ratings, whereas banks generally develop more on the iOS platform.
- The top issues found across both platforms include: bugs, no deposit function or deposit limit is too low, and poor design.
“A poor mobile banking experience can be the single factor for a bank to lose a customer. It’s surprising to see that there is a significant opportunity for banks in the U.S., especially the top banks, to improve their mobile offerings when it comes to user experience and application functionality,” said Mike Stern, Director of Business Development at Xtreme Labs. “The trailblazers in the banking industry are truly differentiating themselves by delivering the mobile experience their customers are literally asking for – it’s really that simple.”
Top 3 Highest-rated iOS Apps
- Citizens Bank Mobile Banking, RBS Citizens Financial Group – 4.5 stars, 93% favorable
- Charter One Mobile Banking, RBS Citizens Financial Group – 4.0 stars, 91% favorable
- KeyBank for iPad, KeyCorp – 4.0 stars, 83% favorable
Top 3 Highest-rated Android Apps
- USAA Mobile, United Services Automobile Associations – 4.6 stars, 95% favorable
- Citizens Bank Mobile Banking, RBS Citizens Financial Group – 4.5 stars, 97% favorable
- Amex Mobile, American Express Company – 4.4 stars, 91% favorable
Common accolades for top ranking apps are for its frequent updates, specific bug fixes according to customer feedback, and ease of use with users often describing the app as “everything you need” in a mobile app for “someone on the go.”
Bottom 3 Lowest-rated iOS Apps
- People’s United Bank Mobile Banking for iPad, People’s United Financial (PBCT) – 2.0 stars, 79% negative
- PNC Mobile Banking, PNC Financial Services Group – 2.0 stars, 79% negative
- SunTrust Mobile App, SunTrust Banks – 2.0 stars, 78% negative
Lowest-rated Android Apps
- M&T Mobile, M&T Bank Corporation – 2.3 stars, 63% negative
Common complaints for low-ranking apps include the fact that critical functionality such as the dashboard loading properly does not work and that the app is merely a link to the mobile website.
The Xtreme Labs U.S. Banking Apps Report: Customer Reviews was conducted from May 18 to June 25, 2013 and is based on the list “The Largest US Banks” on www.relbanks.com. The report aggregated publicly available consumer ratings in both the AppleApp Store and Google Play Store and listed those results, as well as top complaints based on consumer comments.Data for the current version of each app was used for iOS if there were reviews and ratings available for the current version; otherwise data from all versions was used.
About Xtreme Labs
Located in Toronto, Palo Alto and New York City, Xtreme Labs is a mobile strategy and product development firm which designs and engineers the best mobile experiences across all platforms. We are a full-service mobile solutions provider with unmatched expertise that is trusted by the world’s most important brands. We help bring products to life and ultimately help our clients become mobile first companies leveraging a proven methodology – discovery, product and performance. Our service offering is powered by our Responsive Mobile Platform – the same platform used today by some of the world’s biggest brands in Financial Services, Retail, Media, Automotive and others.
G7 Summit guide: What it is and what leaders hope to achieve
Unless you’ve had your head buried in the sand, you’ll have seen the term ‘G7’ plastered all over the Internet this week. We’re going to give you the skinny on exactly what the G7 is and what its purpose on this planet is ─ and whether it’s a good or a bad collaboration.
Who are the G7?
The Group of Seven, or ‘G7’, may sound like a collective of pirate lords from a certain Disney smash-hit, but in reality, it’s a group of the world’s seven largest “advanced” economies ─ the powerhouses of the world, if you like.
The merry band comprises:
- The United Kingdom
- The United States
Historically, Russia was a member of the then-called ‘G8’ but found itself excluded after their ever-so-slightly illegal takeover of Crimea back in 2014.
Since 1977, the European Union has also been involved in some capacity with the G7 Summit. The Union is not recognised as an official member, but gradually, as with all Europe-linked affairs, the Union has integrated itself into the conversation and is now included in all political discussions on the annual summit agenda.
When was the ‘G’ formed?
Back in 1975, when the world was reeling from its very first oil shock and the subsequent financial fallout that came with it, the heads of state and government from six of the leading industrial countries had a face-to-face meeting at the Chateau de Rambouillet to discuss the global economy, its trajectory, and what they could do to address the economic turmoil that reared its ugly head throughout the 70s.
Why does the G7 exist?
At this very first summit ─ the ‘G6’ summit ─, the leaders adopted a 15-point communiqué, the Declaration of Rambouillet, and agreed to continuously meet once a year moving forward to address the problems of the day, with a rotating Presidency. One year later, Canada was welcomed into the fold, and the ‘G6’ became seven and has remained so ever since ─ Russia’s inclusion and exclusion not counted.
The group, as previously mentioned, was born in the looming shadow of a financial crisis, but its purpose is more significant than just economics. When leaders from the group meet, they discuss and exchange ideas on a broad range of issues, including injustice around the world, geopolitical matters, security, and sustainability.
It’s worth noting that, while the G7 may be made up of mighty nations, the bloc is an informal one. So, although it is considered an important annual event, declarations made during the summit are not legally binding. That said, they are still very influential and worth taking note of because it indicates the ambitions and outlines the initiatives of these particularly prominent leading nations.
Where is the 2021 G7 summit?
This year, the summit will be held in the United Kingdom deep in the southwest of England, with Prime Minister Boris Johnson hosting his contemporaries in the quaint Cornish resort of Carbis Bay near St Ives in Cornwall.
What will be discussed this year?
After almost two years of remote communication, this will be the first in-person G7 summit since the novel Coronavirus first took hold of the globe, and Britain wants “leaders to seize the opportunity to build back better from coronavirus, uniting to make the future fairer, greener, and more prosperous.”
The three-day summit, running from Friday to Sunday, will see the seven leaders discussing a whole host of shared challenges, ranging from the pandemic and vaccine development and distribution to the ongoing global fight against climate change through the implementation of sustainable norms and values.
According to the UK government, the attendees will also be taking a look at “ensuring that people everywhere can benefit from open trade, technological change, and scientific discovery.”