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Chase shakes up mobile banking with personalized app features


Chase debuted its new mobile application last week, improved with more streamlined navigation, and an aesthetic makeover that simplifies and customizes the mobile banking experience.

As mobile banking adoption rates continue to spike — rising from 20 percent in 2011 to 33 percent today, according to a recent survey by the electronic payment organization, Swacha — Chase continues to expand transactional services for mobile banking and improve the user experience. With mobile banking becoming the norm for large financial institutions including Chase, the new app is a prime example of a next-generation banking app that plays up context.

“Our goal was to humanize the mobile banking experience and emulate the one-to-one relationship a customer has with their banker who understands you, knows what you need, when you need it and how you prefer receiving it,” said Lauren Francis, vice president of media relations at Chase, New York.

“We listened to our customers to understand their needs, likes and dislikes, to create a digital banking experience unlike any other,” she said. “Our redesigned app features a cleaner, crisper look that presents information in a clear and intuitive way.”

Show me the money
As customers become increasingly engaged in digital banking, Chase ensures its mobile and Web presence replicates the personal relationships with bankers that consumers’ value and trust.

Revamped Chase app

Additionally, the log-in experience is faster and there is a Spanish language option.

Chase’s app also includes a few customizable pieces, such as 18 location-based home screens, new design colors and larger fonts to make it easier for customers to access account information such as account activity and balances.

The homepage icon changes as you travel between locations

The upgraded layout and service aspects marks a digitized transformation that touches all channels of banking from branches and ATMs to online tools.

Mobile scorecard
Chase is consistently rated one of the top financial institutions on mobile from companies including Keynote, which awarded the bank top honors in 2013 and 2012 (see story).

Chase trumps the competition because of its well-rounded mobile offerings across all platforms.

Chase also leverages automated push alert notifications that prompt time-sensitive transactions such as a funds transfer when their account is low so that a mobile user who cannot access a desktop computer can act instantaneously.

Overall, the new app improves upon Chase’s efforts to cut down on the number of steps that consumers need to take.

Added functionality
The largest multinational banks continue to advance in mobile as customers begin to expect certain functions on their smartphones and tablets.

The market is now focusing more attention on customer experience by revamping user experiences, creating more efficient navigation and furthering money movement capabilities.

Simplified bill pay

Eventually, banks may be able to break into mobile payments, which is a lucrative area. Forrester predicted in its “2013 US Mobile Payments Forecast” report that mobile payments will reach $90 billion by 2017, up from $13 billion in 2012.

“Today’s app redesign represents the first step in a multi-year digital journey that will transform the way customers interact with their devices,” Ms. Francis said.

“It’s important that we make changes to our platforms methodically and predictably,” she said. “Customer’s banking relationship is built on trust, and, particularly in the digital space, this trust can easily be shaken if things suddenly look or act differently.”

Final Take:
Michelle is editorial assistant on Mobile Commerce Daily, New York