March 2018 – Keeping Up with Account Details: Mobile Account Information

The ability to view account information is consistently rated as one of the most crucial aspects of the mobile finance experience. In Corporate Insight’s 2017 Investor survey, 80% of respondents indicated that being able to view account balances from their mobile app was either “very important” or “extremely important.” As such, financial services providers should look to distinguish themselves by presenting robust account details intuitively on their mobile platforms. In this report, we review the data, presentation and overall user experience on the iPhone, Android and iPad apps offered by the 25 firms in the Mobile Monitor coverage set.

The ability to view account details prior to authentication is becoming increasingly common, with 14 firms (56%) currently including access to some form of pre-login details, up from three firms in 2015, the last time we reviewed this topic. Understanding the importance of account information, an overwhelming majority of firms present key balance details directly upon authentication. Most of these offer a simple landing screen with account names and balances, though others stand out by presenting figures within a customizable dashboard or feed. The ability to view external account details from the app is still relatively rare, with only nine firms (36%) currently offering this data. Of those offering external account data, three leading firms allow clients to link their external accounts directly from the app. Total relationship values—useful for clients with multiple accounts with a firm—are a bit more common, offered by 14 firms (56%). The top brokerage firms also include robust positions data in sortable, horizontally scrollable tables that can be accessed in landscape mode for expanded data views. Across industry verticals, welldesigned data visualizations can provide additional insight into clients’ account performance, spending patterns and asset allocation. They are now fairly common, with 19 firms (76%) offering some form of graph or chart in at least one of their apps.

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