Consumers have come to expect strong mobile banking services, and thus the nation’s largest banks have made mobile development a primary focus. Not to be outdone, regional firms have also stepped up their mobile offerings, providing clients with apps and mobile-optimized sites. This month’s chart looks at the mobile development efforts at 48 regional banks, each with 100 to 1,000 branch locations.
Of the 48 banks we examined, 73% currently offer an app for the iPhone. After speaking with a customer service representative at each bank which did not offer a mobile app, more than half (54%) told us that they were in the process of developing an iPhone app. First Midwest Bank was the lone bank to provide a specific timeline for release, stating we would see an app from them early this year.
Our research found additional evidence that regional banks without iPhone apps still understand the importance of mobile banking to customers. The chart below shows that a majority of these firms (54%) cater to their clients’ mobile needs by offering a mobile-optimized site.
Based on our research, it appears that regional banks recognize the importance of mobile banking. Overall, the vast majority of banks we examined either offer an iPhone app and/or mobile-optimized banking site, or are working on creating mobile apps. As national and super-regional banks continue to enhance their mobile platforms, it is important for small-mid-sized regional banks to remain competitive in the mobile space both to keep current clients happy and attract new business.