In Mobile Banking, Predictive Virtual Assistant Capabilities Remain Nascent; Omnichannel Account Opening and Use of Apps to Cross-Sell Expand

U.S. Bank Repeats No. 1 Overall and Clinches First in Both Mobile App and Mobile Web in Keynova Group's Semi-Annual Mobile Banker Scorecard

WILMINGTON, Del., March 18, 2025 /PRNewswire/ -- Keynova Group, the principal competitive intelligence source for digital financial services firms, today announced the results of its semi-annual Mobile Banker Scorecard for Q1 2025. U.S. Bank wins first place overall and maintains the top score in mobile web, also securing the highest score for mobile app.

This edition of the Mobile Banker Scorecard highlights the evolving proactive and predictive capabilities of virtual assistants, the opportunity for banks to continue improving omnichannel account opening services for mobile app users and the increasing use of mobile apps to cross-sell new products.

"Banks are transforming their mobile app experience to better reflect product offerings typically presented through mobile web, and some are continuing to develop virtual assistants to enhance navigational efficiency and elevate the customer experience with proactive help," said Susan Foulds, managing director, Keynova Group. "However, there is still opportunity for banks to expand their omnichannel account capabilities, especially for new customers opening their first accounts with a bank."

Key Findings:

Proactive Banking Improved with Virtual Assistants; Predictive Alerts Slowly Emerging
Virtual assistants have the potential to provide immediate insights and predictive notifications to customers about critical account activity. Today, 35% of the Scorecard banks' virtual assistants provide eBill due reminders and 17% monitor and display recurring debit card transactions or subscription fees; yet only 12% display predictive notifications of a low balance or overdraft risk based on account activity and patterns. Proactive alerts are evolving, as 53% of banks send real-time email or text alerts for a zero or negative balance before fees are incurred. While a customer's credit score is displayed on the app dashboard screen or by the virtual assistant at 41% of banks, none of the reviewed banks' virtual assistants proactively notify customers when they are approaching a limit in their credit account(s).

New Customer and Omnichannel Account Opening Options Growing
Customers using a mobile device to apply for new accounts may want to move to another device or need assistance at a branch to complete an application, especially as more banks enable prospective customers to open accounts from the unauthenticated app. All of the Scorecard banks allow new customers to open a checking account via mobile web while 35% support new account openings through the unauthenticated app—a growing trend. Banks can improve their in-app omnichannel capabilities, though, as 76% of banks allow new customers who start an application in mobile web to finish in another channel, compared to 47% that allow customers who start the application in the mobile app to do the same. Account opening support is more limited for app users as only 18% display a customer service phone number compared to 65% in mobile web. Nearly one-third of the banks enable mobile app users to open a new account to schedule a branch or phone appointment.

Banks Increasing Cross-sell Opportunities in Mobile Apps
Banks are more effectively leveraging their apps for cross-selling new products and are promoting offers with sleek and engaging images and messaging designed for mobile formats. Nearly one-third (29%) of banks display mortgage rates in unauthenticated app areas, and 41% provide credit card applications for existing customers. New customers at 23% of banks can apply for a credit card through the unauthenticated app, while 29% of apps link to applications in mobile browsers. Existing customers at 76% of banks can apply for or set up overdraft protection via mobile app, a popular cash management safeguard. Yet, only 18% of banks display options to fund a new checking account at the beginning of the open account flow—a missed opportunity to reduce application timeouts or abandonment.

About the Mobile Banker Scorecard
Keynova Group's semi-annual, fact-based Mobile Banker Scorecard, offered for more than two decades, evaluates digital user capabilities, customer experience elements, and best practices to identify evolving trends and insights that drive mobile strategy in banking. The evaluation encompasses the mobile apps and websites of Bank of America, BMO, Capital One, Chase, Citibank, Citizens Bank, Fifth Third Bank, Huntington Bank, KeyBank, M&T Bank, PNC, Regions Bank, TD Bank, Truist, USAA, U.S. Bank, and Wells Fargo. A separate semi-annual Online Banker Scorecard reviews the online banking experience. For more information please visit: https://www.keynovagroup.com/scorecards/#banking

About Keynova Group
Keynova Group is the nation's foremost competitive intelligence firm providing trusted benchmarking insights and analysis of consumer and small business digital financial services, including banking, credit card, home lending and insurance. Since 1999, Keynova Group's Scorecards have served as the go-to source for leading financial services firms to obtain reliable competitive intelligence and actionable insights. The firm's proven methodology and highly detailed results help its clients maximize the value of their digital channels to deliver a premier experience to customers and prospects.

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SOURCE Keynova Group