This month’s Bank Monitor Report surveys the deposit accounts and public banking sites of a handful of firms that currently fall outside of the Bank Monitor coverage group. With comparable assets and products to much of the Bank Monitor coverage group, these seven banks are often spoken about in the media, and this report serves as a first look at what the firms provide and promote on their public sites. In particular, the firms covered in this report are noted for their online and mobile banking features, along with competitive interest rates.
This report includes analysis of the account types, APYs and unique services offered by these banks and how they compare with the 19 established firms in the Bank Monitor coverage set. We look at the accounts available, how firms segment their products and market/incentivize account bundles, as well as any niche offerings. We also survey overall site navigation and design consistency on the public sites. Lastly, we consider whether firms offer any standout—and uncommon—features and how firms compare in granting debit card holders access to popular payments services.