Today's Mobile Banking Apps: Table Stakes or Cutting Edge

There is no disputing that the U.S. mobile banking landscape is changing rapidly. Larger banks are setting the stage for broader market trends, while smaller banks (and even some regional players) play catch up in the development of new functionality.

What are some of the top U.S. banks doing that is innovative and what has quickly become table stakes in a game of mobile app one-upsmanship? And is mobile banking innovation becoming a value-added differentiator that can drive new revenues?

Over the past 18 months, mobile banking applications have evolved beyond the basics to include specialized functionalities, improved user experiences and an expansion of platforms supported. A year ago, mobile remote deposit capture (RDC) was live at only five of the top 13 banks. Today, it is a 'must have' banking application that has the potential to drive revenue. Similarly, P2P is now taking center stage at most banks despite some logistical hurdles, with five banks adding this functionality in the past 12 months.

How are banks keeping up with consumer demands? How are they keeping up with each other? What's next? In the third report in a series on the state of mobile banking released by the financial research and consulting firm Celent, a review of new application development is provided along with a glimpse into the future. 

In the 44-page report, The U.S. Mobile App Landscape: An Annual Evaluation of Mobile Banking at Top U.S. Banks, Celent found that larger banks tend to out-develop and out-adopt smaller institutions by a significant margin. “The channel is still relatively new, but leaders in the digital channel space are beginning to take offerings into the realm of value-added services that are context-sensitive, timely, and utilize big data", says Dan Latimore, senior vice president of Celent's Banking Group and coauthor of the report. "There’s a large disparity among digital offerings—industry leaders are light-years ahead of the laggards.”

Below is Celent's view of the mobile landscape as it continues to evolve. As can be seen, Emerging Capabilities include a more advanced stage of interaction with more knowledge-driven tools and analytics. While some of these may not be pursued by every organization, Celent believes most will be tomorrow's standard. Interestingly, some of the functionality in the Future Focus is already being implemented on a global basis (see previous post 'Banks Accelerate Mobile Banking Innovation', June 2013). 

While the future may be considered speculative, some components are beginning to appear at the more progressive institutions (U.S. Bank and BBVA Photo Bill Pay) and at some of the new players such as Moven, Simple, GoBank and BlueBird (see 'Challenger Brands & Disruptive Ideas: Learning From The NeoBanks', Financial Brand, August 2013).

Current Evolution of Mobile (Celent, June 2013)

Key Findings of the report include:

• Mobile, and more broadly digital channels, have become core parts of banking in 2013. Mobile devices are now just as much a tool to keep people out of branches as they are to facilitate interaction. Consumers are more eager to engage through a smartphone, and as nontraditional players rush in to fill gaps left by legacy financial institutions, CIOs are beginning to feel the pressure to build out digital capabilities.
• Digital channels are in a continuous process of evolution, proliferation, and adaption. While remote deposit capture was 'new' a year ago, it is now a basic functionality. Innovation in the mobile channels is ongoing with today's innovations quickly becoming tomorrow's table stakes. 
• Banks are moving forward in their evolution of digital channels, but it's a slow and sometimes confusing process. It’s no surprise that banks aren’t considered innovators: it’s difficult, expensive, and risky to innovate. Yet, banking is entering a time of customer-centricity, where each institution defines this concept differently.
• New functionality is on the horizon, but not yet front and center. This includes: 1) Speech recognition, 2) Social media integration, 3) Mobile PFM tools, 4) Easy access account balance, 5) Cardless cash withdrawal, 6) Debit card on/off switch, 7) Remote mobile bill pay, and 8) Biometric security.

How Are The Top Banks Doing?

Mobile is definitely moving beyond the replication of online banking services and into value-added features built to serve more specific use cases and even different segments of the bank (retail consumer, small business, wealth management, commercial, etc.). As shown above, the evolution is trending towards an environment where solutions are being 'bought' vs. 'built' and where engagement of the customer on a contextual level is beginning to be achieved. 

Using a features and functionality scoring sheet for each mobile platform (developed as part of the previous Celent research 'What's App, Doc: A Biannual Evaluation of Mobile Banking at Top U.S. Banks'), Celent evaluated apps for the Apple iOS, Android, Safari web browser and text banking. Scores were compiled for the top 13 banks in the U.S., with banks grouped into three categories based on the following criteria:

• How easy was it to find the desired function?
• How easy was the app to use?
• Was the information presented intuitive from a navigation perspective?
• Did the app take advantage of standard OS functionality to enhance familiarity?

A very in-depth evaluation was performed for the following functions on each mobile platform to determine breadth of offering. Each function was evaluated on a number of levels with values placed on each of the following capabilities: 

• Balance inquiry
• Recap of previous transactions
• Bill payments
• Moving money (RDC, A2A, P2P, etc.)
• Merchant-funded rewards
• PFM tools
• Social Media integration
• Geolocational tools
• Marketing and sales
• Security
• Customer support
• Personalization
• Alerts

Celent grouped the banks in this report into the following three categories: most improved, noticeable improvements, and minimal/ no changes.

1. The most improved apps include Bank of America and US Bank.
2. Apps with noticeable improvements are Capital One, Wells Fargo, and HSBC.
3. Banks with minimal or no changes to their mobile offerings include BB&T, Chase, Citibank, Fifth Third, PNC, Regions Bank, SunTrust and TD Bank.

According to Dan Latimore, "While Chase continues to build on their mobile excellence, some apps have been playing catch up." And while not making significant changes does not necessarily mean the mobile banking site was poor, standing still in today's mobile marketplace is not a solid long-term strategy.

Interestingly, in an unrelated research study conducted by Xtreme Labs for the period May 18 - June 1, 2013, entitled 'U.S. Banking Apps Report: Customer Reviews', a different set of 'winners' emerged based simply on the number of positive and negative customer ratings in both the Apple iTunes Store and Android Play Store. A minimum number of reviews were required for any app and an averaging of reviews was used for scaling. While significantly less scientific than the Celent research, the Xtreme Labs research provides a social media commentary on customer sentiment around mobile banking apps.

Of the largest banks reviewed by Xtreme Labs, RBS Citizens, had the highest score on the iOS platform (4.5 out of 5 and a 93% favorability rating) and one of the best scores on the Android platform (4.5 out of 5 and a 97% favorability rating). USAA, American Express, Wells, TD Bank, Chase, BB&T and Regions and U.S. Bank also scored well in this study.

Conversely, PNC (not virtual wallet), SunTrust, TD Bank, Fifth Third, Bank of America, Well Fargo and USAA also appeared on the negative side for the iOS platform in the Xtreme Lab study, indicating that the mobile apps were not considered the best for everyone.

Issues to Address in Future

Beyond the need to explore the development of additional functionality that makes engagement easier and leverages big data more effectively, Celent saw some trends they believed warrant attention in the near term.

Marketing and Cross-Selling

As was noted in my June 2013 blog post around Mapa Research's study of global mobile banking innovation, U.S. mobile banking apps still haven't leveraged some of the power of cross-selling from a mobile device. While the Celent research noted that many banks have attempted some form of 'product pushing' or advertising of services, there seems to be minimal leveraging of big data insights to drive contextual offers. "Splash screens and real estate crowding banner ads should be left to online banking", say Latimore. "Apps should move toward offering up product suggestions (without sacrificing user experience) as well as being able to facilitate the beginning of an enrollment process, which can be finished at the branch, over the phone or online".

Mapping

While it is understandable that many banks may be a bit skittish around using Apple Maps for branch and/or ATM directions given early flaws with the iOS application, using Google Maps from within the Safari browser was found to be slow and 'clunky' compared to the integrated option from Apple. Celent believes the risk may be worth it. Another option (used by both PNC Bank and U.S. Bank) may be the use of augmented reality for locational guides.

App Design and Platform Changes

Celent noticed that a number of apps in the study had little or no change from the previous report from Q4 2012. While this may not seem out of the ordinary if compared to bank website redesigns, and certainly falls in line with the industry's normal 'wait and see' approach, this speed of change is not acceptable to most mobile users who are used to constant and frequent enhancements to apps.

In addition, as tablets of all forms have exploded onto the marketplace, banks have done a terrible job of developing applications that take advantage of this very unique platform. Beyond the tactile and length of engagement differentiation of this platform, the demographics of the typical user (more affluent and more digitally astute) warrants a greater focus.

PFM on Mobile

There is no disputing that PFM on mobile has yet to gain any traction. Banks are struggling to define what PFM should be and what it should look like on different channels as well as platforms. The majority of consumers are not attracted to charts and graphs on mobile devices (there is a segment however). But PFM on mobile may provide promise if looked at in the perspective of improved receipts, budget updates and even gamification. Merchant-funded reward integration is also possible with geolocational capabilities providing the ability for immediate rewards through the mobile device.

While some banks are testing some of these capabilities (most notably the neobanks like Moven as covered here in my early 2013 blog post), there is quite a bit of debate on whether the investment in development can be recouped without a value-added pricing model.

According to Latimore, "Eventually, Celent imagines high-value advice on savings, alerts for overspending on a budget category, or GPS-enabled deals. The camera is another unique attribute to the mobile phone that can be used to provide a snapshot of spending."

The Long Road Ahead

Mobile banking has quickly evolved from being a more cost effective way to handle balance inquiries to a core component of every bank's delivery network. We have moved from a transaction focus to an engagement focus, with CIOs beginning to feel the pressure to build out mobile capabilities. 

With basic mobile transactions such as balance inquiry and moving money, simplicity is the 'new black'. With more sophisticated interactions, the use of 'big data' for insight dissemination and solution recommendations is the key to success. In all cases, Celent found a trend away from 'bolt-on modules' to more holistic approaches that will require significant investment.

While other industries have reached young adulthood in mobile integration, mobile banking is still in its infancy. With shrinking margins and more regulatory pressure, banks must determine if there is the potential for mobile services to generate revenue that can help offset development costs and replace lost fee income. Without fees from new value added services, what is the ROI of mobile banking? (see previous BMS post, 'The Revenue Power of Emerging Financial Solutions", August 2013)

According to Celent's Dan Latimore, "While mobile banking definitely expands a bank's ability to reach new and existing customers, and while there is significant movement by some organizations, there is still a long road ahead for others."

About the Report

The report reviewed is the third in Celent’s series on the state of mobile banking at top US financial institutions. The report examines mobile application offerings at the top 13 US banks in significant detail, beginning by looking at the state of the mobile market in the US. Celent graphically explains trends in mobile, and tries to make a case for what the future of mobile will look like. The report then dives deeply into the breadth of functionality and usability at each of these banks. Finally, each bank’s mobile application is profiled in depth, with accompanying screen shots to illustrate relevant points. This report is the best of its kind and is intended to serve as a guideline for conversations around how to strategically align mobile development with prevailing best practices.

A webinar on this study in conjunction with Kony, entitled, Tomorrow's Mobile Banking - Hear What Top U.S. Banks are Doing to Get a Glimpse Into the Crystal Ball is scheduled for September 11, 2013 at 2PM ET. 

Additional Resources

The U.S. Mobile App Landscape: An Annual Evaluation of Mobile Banking at Top U.S. Banks - Celent (June 2013)

Mobile Banker Vendor Solutions - Celent (April 2013)

What's App, Doc: An Updated Biannual Evaluation of Mobile Banking at Top U.S. Banks - Celent (January 2013)

U.S. Banking Apps Report: Customer Reviews - Xtreme Labs (July 2013)

Tomorrow's Mobile Banking - Hear What Top U.S. Banks are Doing to Get a Glimpse Into the Crystal Ball - American Banker Webinar sponsored by Kony (September 11, 2013)

Mobile in 2013: A Digital Digest Featuring Gartner Research - Kony (March 2013)

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Top 10 Mobile Banking Mistakes

There’s plenty of great information out there for consumers about the dos and don’ts of mobile banking—password protect your device, use caution with what apps you install on your phone—but there are also plenty of mistakes financial institutions make when it comes to mobile. 

Let’s look at what may be considered to be the top ten.

By Danny Tang, Worldwide Channel Transformation / Front Office Solutions Leader, IBM Global Banking & Financial Mkts

10. Not going for 100% mobile banking adoption  The adoption rate for mobile banking should be 100% of those customers who have a mobile phone. And yet, many banks choose to limit themselves by requiring users to activate in online banking or enroll at a local branch. This reflects the fact that mobile is still an afterthought for many banks.

9. No Balance Between Security vs. Usability  Can’t we have both? It’s remarkably easy to lose your mobile phone, which makes it especially important for banks to safeguard user information. While banks should absolutely secure mobile banking beyond just ID and password, it shouldn’t be impossible to use, either. Does it really make sense to ask users who their favorite teacher was in elementary school, or require everyone to carry another device just to log in to mobile banking on their smartphone? Risk-based authentication, geolocation, biometrics—these and many other technologies are available to help banks find the right balance between security and ease-of-use.

8. Cutting Corners in Education  Should we assume that all smartphone users are smart? This is especially true for security. No technology today (that I know of) can prevent a user from writing down his/her ID and password on a paper attached to the back of the phone. An educated user is your best defense against fraud and loss of privacy. If you teach customers the value of security features—and how to use them—they’ll be happy to see those authentication layers instead of cursing at them.

7. No Consistency in User Experience Across Platforms  Does your Android app look like it’s from a different planet than your iPhone app? People shift between platforms, and lack of consistency is confusing—and annoying. Banks should invest in a MEAP (mobile enterprise application platform) to help teams ensure a consistent user experience between environments. A MEAP such as IBM Worklight can enable write-once-deploy-across-many-platforms that both saves cost and improves user satisfaction.

6. The “X2 Button” Tablet App  If your iPad app strategy is to tell users to push the X2 button, you’re missing an opportunity to provide customers a richer banking experience. You’re also providing an interface that’s downright clunky. Tablets aren’t going anywhere soon, so don’t waste the screen real estate your clients have paid a premium for—invest in a tablet-friendly user experience with dedicated features such as spending analysis and retirement planning.

5. No Love for the Mobile Team  Is your mobile team stuck in a corner of basement? For many customers, mobile is how they most frequently interact with your bank. The mobile banking team deserves more love from bank execs. Mobile should be at the center of your channel strategy—and your planning meetings.

4. One App Fits All  Consider providing a unique app for each major customer segment (retail, mass affluent, small business, and so on). Different customer segments have different needs. Mass affluent clients appreciate more financial analysis, while small business clients would rather have mobile invoicing and collection. Don’t assume you can satisfy everyone with the same solution.

3. No Roadmap to ROI  Mobile shouldn’t just be a cost center. What’s your plan to profitability? In the interest of “getting something up and running,” many banks lose sight of the long view. When it’s done right, mobile banking can be a valuable sales and marketing tool that can build loyalty, cross-sell products and yes—generate revenue.

2. Me-Too Syndrome  One of the worst mistakes a bank can make when going mobile is adopting a “me-too” approach. When you outsource to a company that creates and hosts mobile banking for your competitors, you’ll end up with a mobile banking app that looks just like your competitors’—and one that provides zero differentiating value.

1. Not Realizing that Non-Banks are Eating Your Lunch  Non-banks such as Square and PayPal have been riding the mobile momentum for some time now. And Google, Apple, Walmart and others have their eyes on the revenues traditionally enjoyed by banks through mobile payment and wallet apps. Does your bank have a strategy for dealing with cross-industry competition and disintermediation? (If not, how well have you been sleeping these days?)

So, what other oversights have you seen in mobile banking lately? Share your own top mistakes—as well as best practices for success.

About the Author

Danny Tang leads the Customer Care and Insight (CC&I) Framework for IBM’s global banking organization. Prior to his current role as CC&I Framework Leader, Tang was on assignment to China between 2009 and 2011 as the Executive leading IBM Software Group’s Financial Services Industry Solutions team for the Greater China Group. Before that, he was IBM’s Worldwide Executive Consultant advising financial services firms around the world. 
Tang joined IBM via its acquisition of CrossWorlds Software, Inc., where he spent several years architecting EAI and B2B solutions. Prior to CrossWorlds, Tang worked for top consulting firms including Andersen Consulting (now Accenture).

Note: This post originally appear on 'Insights on Business'. This is probably the best post I have seen around what banks may be doing wrong in the mobile space. The post has been reprinted with permission from the author.

Banks Sit On Sideline As Tablet Growth Continues

According to PEW Research Center, tablet adoption has almost doubled over the past year and for the first time, a third (34%) of American adults currently own a tablet computing device, including almost half (49%) of those in their late thirties and early forties and a majority (56%) of those in higher income households.

With this platform becoming increasingly important to customers, banks and credit unions can no longer sit on the sidelines and watch as the digital landscape develops around them. Unfortunately, with limited resources, new research indicates that development of native tablet apps has occurred at a snails pace due to limited resources and a focus on developing new smartphone applications.

In a just released report from Celent entitled, Tablet Banking: An Evaluation of Tablet Apps at the Top 13 Banks, it was found that only seven of the top thirteen US Banks have a live iOS tablet app, and only two of the top banks have a native Android app. In many cases, banks are using their online banking platform as the foundation for tablet users or are making adjustments to their web portals for tablet use.

“Consumers are rapidly growing more accustomed to interacting with their financial institution through devices other than PCs,” says Jacob Jegher, Research Director with Celent’s Banking Group and co-author of the report. “Celent believes that tablet banking represents a tremendous opportunity. However, banks aren’t exactly scrambling to release tablet specific apps.”

Unfortunately, the lack of commitment to the tablet user is not a new phenomenon. In May of 2011, I covered this problem in a post entitled, Banks Slow to Embrace Potential of Tablet Computing. 

Tablets Require Special Attention

As part of the Celent study, it was found that many banks remain unclear as to how the channel should be classified. Is the tablet platform an offshoot of online banking? Is the platform better supported by the mobile banking team? In reality, tablets are a unique platform that deserve individualized attention. According to Stephen Greer, Analyst for Celent and co-author of the report, "Tablets take the best of the PC and the best of mobile and combine them into a device that offers functionality, portability and a rich user experience."

Use cases also need to be taken into consideration when working with multiple platforms according to Greer. "Online banking is functional, complex, and a daytime/work activity, while mobile is quick, contextual and on-the-go. Tablets, in contrast, are often leisure devices, catering to casual couch browsing and intermittent time killing." In addition, since many people multi-task with a tablet device (watching TV, etc.), the visual and tactile functionality of the tablet must be leverage to optimize the user experience.

Because of the interactive dynamics of this platform and the large number of device manufacturers and dimensions need to be supported, a larger investment in development and testing is required. In addition, to date, many organizations have had difficulty measuring the incremental financial impact of this investment. This may be the reason supporting this platform has been so slow.

Evolution of Tablet Banking

While the primary emphasis of the Celent report was a very thorough review of each of the top 13 US banks' tablet application(s) with detailed visual support and commentary on each bank's execution, there was also a review of key trends in the tablet banking marketplace. These trends were reinforced by other research done by Mapa Research in March and Fiserv in a report last month.

• Interactive dashboards that leverage the tactile benefits of the tablet
• PFM tools that add value through unique visualizations of financial insights
• Social media integration beyond customer support and promotion
• Unification of devices to provide common looks for basic functions
• Easily accessible insight such as balances, ATM/branch locations, etc.
• Focus on simplicity using photo capability for account opening, mobile deposit and bill pay
• Speech recognition to minimize keystrokes and improve user experience
• Enhanced security potentially leveraging biometrics

Similar to the excellent analysis Celent has done for mobile banking, they believe that tablet banking is in an ever-changing evolution of functionality and applications. As with mobile banking, each bank is in a different stage within this evolutionary process, with a goal to move to even smarter tablet banking capabilities as shown below.

Tablet Banking Evaluation

As mentioned, in the Celent evaluation of the top 13 banks in the US, only seven currently have iPad apps and only 2 have Android apps. This is obviously a surprisingly low number for banks that should be setting the pace for the industry. Most of the banks evaluated are working feverishly to innovate on their smartphone platforms which has impacted the ability to focus on tablets at all, while others have only updated their initial tablet application one or two times.

Celent found that most of the tablet applications evaluated were 'transaction enablers' as opposed to leveraging the visualization and tactile nature of the tablet platform. Of special interest would be the inclusion of more PFM applications since Raddon Research found that tablet owners (27 percent) are found to be twice as likely to use PFM tools than non-tablet owners (12 percent).

While the scoring, final rankings, screen shot evaluations and final 'Xcelent' awards for the top 13 US banks can only be shared with subscribers to Celent research, a less robust ranking of iPad banking applications is available by viewing the top 200 apps in the iTunes store. 

In 2011, only 7 banks were ranked in the top 200 iPad apps in the finance category. The good news is that Bank of America, Chase and Wells Fargo are now the top 3 downloaded free iPad finance apps on iTunes according to padgadget.com, with Citibank (13), U.S. Bank (19) and PNC (22) ranking in the top 25 (28 banks are in the top 200). The bad news is that most of the largest banks are not rated very highly by users (First National Bank of Omaha (5) and Peoples United Bank (8) are the highest ranked iPad finance apps according to Padgadget.com here).

Some Tablet Innovations

Mapa Research reviewed innovative tablet uses globally in March, 2013 and shared many of these unique apps in their study entitled, Tablet Banking Series: Branch on the Go?. Below are some of the more interesting screen shots that caught my attention. The 75 page report has over 50 screen shots covering many different tablet applications as well as outlining a blueprint for success from their perspective.

Citibank: Integration of Check Visuals for Tablet Application

Amex: Upon first sign-in, all features of app are highlighted

KBC Bank: Social media integration includes sharing of savings goals

Raiffeisen Bank: Direct access to applicable advisor

The key findings of the Mapa research included:

• Innovative features and services focus on providing both convenience and a smooth user experience for both transactions and browsing, creating the tablet almost as a “on the go branch”. This is highlighted by the incorporation of access to advisors and features which aim to increase banks revenue.
• Personalization and PFM go hand-in-hand. While not all users utilize the PFM feature, it is essential that incorporating this service incorporates a high level of customization. Furthermore, the ability to customize even basic features such as the color and layout enhance the customer journey.
• While there are mixed findings on the eradication of Apple’s market share for tablet device by Android and Kindle tablets, the iPad should be the device of priority for innovation due to demographics of user and web usage volume.

The Future of Tablet Banking

It is clear that digital channels are no longer 'alternative' channels. In fact, they are the fastest growing financial channels in the history of banking and are supporting an ever changing consumer who is more connected than ever. As more tablets are purchased and the capabilities of the devices expand, banks and credit unions must evolve to meet customer expectations. This will require a clear, focused and integrated strategy for tablet banking as well as for all digital channels.

Institutions of all sizes can't continue to sit on the sidelines, providing vastly underdeveloped tablet applications or 'canned' solutions. While it can be expected that mid-sized and smaller institutions will lag their larger counterparts in this development process, monitoring best in breed in the US and overseas is one of the keys to success. This evaluation of what is possible should be done by product managers, marketers, as well as other senior executives in the organization to set the foundation for future strategies and development.

Note: The Celent research on the tablet banking applications at the top 13 banks in the US is a report that complements a similar series of evaluations done by Celent on mobile banking. Analysis of this report Celent was done by Bank Marketing Strategy in August 2013 entitled, Today's Mobile Banking Apps: Table Stakes or Cutting Edge.

Additional Resources

Tablet Banking: An Evaluation of Tablet Apps at the Top 13 Banks - Celent (September 2013)

Tablet Ownership 2013 - Pew Research Center (June 2013)

Banking on the Tablet Channel - Fiserv (August 2013)

Portrait of Today's Tablet User - Wave II - Frank N. Magid Associates (June 2013)

Tablet Banking Series: Branch on the Go? - Mapa Research (March 2013)

User Insights Volume Two: Comparing the Desktop and Tablet Banking Experience - Corporate Insight (August 2013)

iPad Apps Tracker: Top 200 For Finance (Free) - Padgadget.com (updated several times a day)

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GoBank Introduces One of First iOS7 Mobile Banking Apps

If you are an Apple iPhone devotee and have downloaded the new iOS7, you probably have a strong opinion about the new design. Maybe you love it. Maybe you hate it. Maybe you are like me and are still getting used to the new look, feel and functionality. 

Upon introduction, many apps immediately took on the new 'flatter' iOS7 look. That is, except for your mobile banking apps. In an industry desperately trying to keep up with customer demand for basic functionality, most didn't have time to change the look of their apps . . . except for GoBank.

In line with the GoBank brand, the relatively new mobile-first banking brand considered the introduction of a new design in late September an important differentiator for GoBank. "Being first to introduce a new design that leverages the iOS7 look shows that we're not just a bank, but also a technology company … right on the pulse of what's new and next," stated Sharon Pope, chief marketing officer of GoBank in an online interview with Bank Marketing Strategy.
  

Download (or update!) the #gobank #app to experience why Apple is featuring us as one of the "best new… http://t.co/x8AKAtK9xA
— GoBank (@gobank) October 1, 2013

According to Pope, GoBank's iPhone team worked carefully to incorporate Apple's new vision for the iPhone aesthetic so that the app would feel right at home on customers' recently updated devices. "You can see a lot of the elements of Apple's vision throughout the design. And a great indicator how beautifully we applied Apple's guidance is that Apple has featured GoBank as one of the "Best New Apps" for the iPhone."

Hoping to design in line with Apple's iOS7 'human interface guidelines' as outlined in their developer user interface design resource guide. According to Apple, an iOS7 design should embody the following themes:

• Deference: The UI helps users understand and interact with the content, but never competes with it.
• Clarity: Test is legible at every size, icons are precise and lucid, adornments are subtle and appropriate and a sharpened focus on functionality motivates the design.
• Depth: Visual layers and realistic motion impart vitality and heighten users' delight and understanding.

New GoBank User Experience

Immediately upon login, it is clear that GoBank was following the lead of Apple, especially with the design of buttons, eliminating the previous hard-edged buttons, arrows, etc. and replacing them with the borderless buttons that are key to the new iOS7 design. While the use of 3D button icons were used by Apple initially to replicate the Blackberry experience that so many early smartphone users were familiar with, consumers no longer needed the transitional visual element.

In addition, the initiation of the GoBank app follows Apple's start-up standards by avoiding splash screens and other elements that inhibit the ability to open the app immediately. This has always been a strong point for GoBank, with key activities shown at start-up. "We have never wanted the user to click through 4-5 screens to get to their main reason for visiting the site," stated Pope.

It should be mentioned that of all of the mobile-first banking firms (Moven, Simple, Bluebird), GoBank had one of the most streamlined applications in it's pre-iOS7 iteration. I have written on my admiration of GoBank in the past (Seven Reasons I Love GoBank) because the UI has always been intuitive, crisp and fluid, with all primary mobile banking functions being easy to access. 

The application and communication from the bank also is informal and accessible from their Facebook page to their new iOS7 Fortune Teller application that informs users if a proposed purchase could cause a potential financial challenge.

Another iOS7 designer guideline was to let translucent UI elements hint at the content behind them. For GoBank, this can be found in the pre-login experience (what someone would see when they download the app for the first time, which overviews some of the key features).

Project Runway Update

According to Sharon Pope from GoBank, the sponsorship and product placement on Project Runway has yielded a marked increase in awareness of GoBank throughout the fashion community and their overarching target audience. "It's a great target for us, because that community is always looking to find that look for less. Our budget tool, and Fortune Teller, are great for them. We think it's the perfect accessory to any fashion-loving person on a budget. And we've received a lot of praise from early users in this area," says Pope.

The engagement with Project Runway is also highly promoted through Facebook, Twitter, Instagram and YouTube.

OH: "It’s amazing. I’m totally going to use this in my everyday life.” #projectrunway #sponsor http://t.co/F3cBkWFzWv
— GoBank (@gobank) September 27, 2013

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