Wednesday, May 15, 2013

Wells Fargo bests Bank of America on mobile-banking scorecard

Wells Fargo's mobile banking experience scores higher than Bank of America's, according to a ranking, released Wednesday, of 15 major banks.

JPMorgan Chase topped them all, though, on the spring scorecard produced by San Mateo, Calif.-based Keynote, which launched the rankings in 2011. Chase has come in at No. 1 for three years in a row.

Banks were evaluated based on five modes: text, mobile Web and iPhone, Android and BlackBerry apps. Of the modes, BB&T was named a leader for text banking and Bank of America for its Android app.

Chase performed best in two of four categories, functionality and ease of use, while Wells Fargo led in privacy and security.

The scorecard comes out twice a year. Susan Fould, manager of the scorecard, said it helps banks improve their mobile-banking platforms.

"They use it to benchmark themselves and to understand where they have gaps," she said.

She said one big takeaway from the spring scorecard is that banks are improving the experience of using mobile-banking technology.

"There's more functionality," she said.

According to Keynote, which specializes in Internet and mobile cloud testing and monitoring, the number of mobile-banking consumers is expected to hit 1 billion by 2017.