August 2015 Trends & Highlights: Market Volatility, New Products and U by BB&T

Michelle Ammirati by on Sep 17, 2015

TRENDING

  • Firms Address Market Volatility  A number of firms issued commentaries dedicated to the stock market’s instability at the end of August. Schwab included a link to an Insights article on the private site, while Fidelity, TD Ameritrade, and Vanguard took to banners on their public sites to address the issue. Fidelity included webcasts, videos and articles on the market turmoil, which the firm also provided in an update on the private site. TD Ameritrade included a banner leading to the firm’s blog with information on how to handle market instability. Vanguard provided a public homepage banner promoting a video featuring Chief Global Economist Joe Davis discussing the economy and short-term interest rates.

  •  New Mobile Features Arrive with More Coming Soon  While Citizens Bank added Touch ID and PIN Login to its iPhone capabilities, Liberty Mutual and State Farm integrated Apple Pay into their iOS mobile apps. TIAA-CREF introduced an iPad optimized app with a new dedicated Message Center, the ability to upload documents for advisors and the ability to view and compare personal versus employer contribution amounts. Discover now lets users view their FICO score and credit score history with both iOS and Android devices, as well as factors that can help improve their score. Morgan Stanley enhanced their mobile app for clients by providing greater research capabilities and expanded account information, while USAA announced its intent to provide Android Pay soon.
  •  New Products and Tools Close Out the Summer  The month of August saw a number of new products and tools across the board. SunTrust overhauled its deposit suite by changing checking and savings products and redesigning both sections of the public site. RBC added a new Visa Platinum Debit Card featuring chip technology, while Farmers introduced a points-earning Rewards Visa Card. MassMutual added four planning tools, including a Lump Sum vs. Rollover Analyzer, while Voya upgraded its MyOrangeMoney retirement tool by adding Social Security into the income projection.

AUGUST HIGHLIGHTS

U By BB&T: An Alternative to Classic Online Banking

BB&T released a new online banking platform called U by BB&T, an alternative to the firm’s classic online banking. The new platform is accessible for all clients from smartphones, tablets and computers and includes a customizable dashboard in addition to all standard banking features. The new platform lets users budget and track spending and send payments using Popmoney. The platform features responsive design and all functionality is available through individual tiles on the dashboard.

The Principal Financial Revamps Public Site

The Principal Financial released a revamped public site with responsive design and new educational content. The site features a blue and white color scheme, consolidated and new content. The changes to the site make a marked improvement in the ease of navigation.

Bank of America Rolls Out New Security Center

Bank of America added a new Security Center after simplifying its login process. The firm removed the SiteKey feature and created a designated section housing all important security features. The new center includes settings, alerts and sign in history. A new link about Extra Security at Sign-In lets clients opt for an authorization code sent by email or text. The new Security Center is accessible from two menus on the private site.