June 2019 – Mobile Account Applications

The ability to apply for a deposit, credit card or brokerage account at anytime and anywhere has become vital with the proliferation of smartphones and constant internet access. In Corporate Insight’s Bank User survey, more than half of respondents rated digital application submission as very important or extremely important, and Millennials value this option more than other generational segments. Since our last report on this topic, coverage group firms have responded to this growing expectation; in 2015 only 52% of firms provided access to any mobile-optimized account application compared to near ubiquitous availability today. Twenty-two coverage group firms (92%) offer a mobile-compatible account application for at least one account type for users visiting firm websites on a smartphone or tablet. This report evaluates the availability of mobile-optimized brokerage, deposit and credit card applications via mobile browsers and iPhone, Android and iPad apps.

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