News Column

Chase Ranks No. 1 in Mobile Banking Functionality

April 25, 2013

Chase ranked No. 1 for both U.S. and global banks in Forrester Research's 2013 Global and U.S. Mobile Banking Functionality Rankings,1 released today. Chase received a score of 71 out of 100 - fifteen points above the report's average score of 56.

Of the 15 banks evaluated in the study, Chase stood out for its mobile banking offerings across multiple touchpoints - ranging from smartphone apps, mobile websites and two-way Short Message Service (SMS). Forrester also recognized Chase's money movement features such as bill pay - including the ability to add a payee - and mobile transfer capabilities.

"We believe the Forrester rankings reflect our commitment to serving customers exceptionally well through all channels, including online and mobile," said Gavin Michael, the new head of digital for Chase's Consumer and Community Banking division. "More than 13 million customers are taking advantage of Chase Mobile(R) - and many more are joining every quarter. They like the immediacy and functionality of our digital channels."

Chase Mobile(R) includes the following features:

-- Chase QuickDepositSM, the award-winning mobile deposit capability;

-- Chase QuickPaySM, its proprietary person-to-person payment service;

-- Payment options such as bill pay, account transfers and wire transfers;

-- Mobile website access;

-- SMS text messaging; and

-- Chase Instant Action Alerts to notify customers of a low balance, and to allow them to transfer money by replying to the text message. Chase Mobile banking is available to Chase customers using most major mobile platforms, with apps for iPad(R), iPhone(R), iPod Touch(R), Android(TM), Windows(R) Phone and Kindle Fire, as well as through the Chase mobile website.

Forrester Research, a global research and advisory firm, used its proprietary Mobile Banking Functionality Benchmark to evaluate and rank the mobile banking efforts of 15 of the largest banks in North America, Western Europe and Australia to determine the banks leading in mobile banking. The methodology included three steps: defining a user scenario, scoring the banks' mobile banking services across more than 50 categories and criteria, and ranking the banks.

Source: Copyright Business Wire 2013

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