Mobile banking apps from Capital One and DBS Bank of Singapore shared first place in a new study of 50 global banks’ smartphone offerings for private banking clients.
MyPrivateBanking, a Swiss research firm, evaluated the offerings of 50 banks. Capital One and DBS received a score of 50 out of a possible 60.
The firm awarded second place to Societe Generale of France (with a score of 49). Third place was shared by ABN AMRO of Amsterdam and Westpac of Australia (both earned 48 points). The top scorers’ apps went beyond providing basic account information and transaction features, according to the report.
The firm enlisted two analysts to perform two reviews of each app, six weeks apart. Apps were judged on 45 different criteria divided into nine broad categories, including availability of mobile apps, core functions, support features, content, means of communication, integration with other media, user friendliness, security and best practices.
The banks that ranked lower on the study’s list displayed a number of mobile shortcomings, according to the firm. Those weaknesses included a lack of more advanced features, such as listing contact numbers for lost or stolen cards; a failure to provide corporate or product information; a lack of content about financial news; the absence of video or audio; and a lack of native tablet apps.
MyPrivateBanking evaluated apps from ABN Amro ANZ Bank, Banco do Brasil, Bank of America, Bank of China, Barclays, BB&T, BBVA, BMO, BNP Paribas, Caisse d´Epargne, Capital One, CIBC, Citi, Commerzbank, Commonwealth Bank, Credit Agricole, Credit Suisse, DBS, Deutsche Bank, First National Bank, Halifax, HSBC HK, HSBC North America, ICBC, ING, Itáu, J.P.Morgan Chase, KBC, Lloyds TSB, Merrill Lynch, NAB, NatWest, Nordea, PNC, Rabobank, RBC, Royal Bank of Scotland, and Santander.