November 2016 Trends & Highlights: TD Ameritrade Robo-Advisor, Mobile Capabilities and a new GEICO-Lyft Partnership

by on Dec 09, 2016


  • Twelve Firms Increase Mobile App Capabilities – November saw an increase in mobile app capabilities from firms across the financial services industry. Both Ally Bank and Fidelity updated the login experience, with a new six-digit passcode login option and pre-login custom feed information, respectively. Three firms—Capital One (Wallet app) , Citi and Nationwide—updated their mobile apps with new profile and account self-servicing options. Nationwide now allows users to edit their username, password, email and phone number within the app, and Capital One 360 debit card holders can now temporarily deactivate their debit cards within the Wallet app. Citi account holders can now manage paperless settings, request a credit line increase, manage their ATM/debit card PIN, view recurring charges and edit their email address all within the app. American Express and U.S. Bank updated their payments interfaces, with American Express increasing the amount of payments information it provides and U.S. Bank adding filters to aid users in finding past and scheduled payments and transfers. KeyBank redesigned the navigation within the Android app to be more consistent with the recently revamped private desktop site. The Capital One Mobile Android app now includes optional push notifications for credit card transactions and payments. Allstate updated its 3D Touch menu with an option to View My ID Cards, which are also now available to view without logging in. Lastly, two firms—Capital One Investing and U by BB&T—added support for Touch ID, and Ally Bank added support for fingerprint authentication on Android devices.
  • One Full Site Revamp and Many Public and Private Site Updates – In addition to Prudential’s full private site revamp that brought it in line with its responsive public site, complete with detailed account information and supportive balloon tips, 11 firms performed a number of smaller public and private site redesigns. Three firms revamped their public site product pages, with American Express updating its credit card coverage and Allianz and USAA updating their annuity product pages. Three other firms updated private site journeys: Capital One revamped its credit card balance transfer interface, integrating it with the rest of the private site; Citicards redesigned the dispute a charge journey, removing a status meter; and Nationwide updated its My Interactive Retirement Planner, introducing a static header and reorganized pages. Allstate updated its public site navigation with a new look that retains its prior structure. Capital One 360 replaced its header with that of Capital One’s public site on both its public and private sites; the majority of new header links direct users from the Capital One 360 site to the Capital One site. Other private site updates include SunTrust Bank’s redesigned alerts interface, MFS’s My Portfolio page, USAA’s Life Summary page and Merrill Edge’s live chat tool.
  • Online Education Resources Booming  In November, Santander Bank and John Hancock introduced dedicated microsites for financial education resources: The Santander Prosper and Thrive blog provides posts and articles relating to saving, debt and life events, and the John Hancock My Learning Center, powered by Everfi, provides 22 interactive modules on a variety of topics. Merrill Lynch Wealth Management and Fidelity both added life event resources to the private and public sites, respectively. The new Life Priorities tab on the private Merrill Lynch Wealth Management site offers seven new pages organizing articles, infographics and other resources into categories for Health, Home, Family, Leisure, Giving, Work and Finances. Fidelity’s public site Planning & Advice page now includes links to life events checklists. Both the Lincoln Financial Group public site Reach Your Goals questionnaire and Prudential public site Let’s Talk about Life Insurance video function to gather prospect information and recommend products and working with a financial advisor in new and engaging formats.


TD Ameritrade Debuts Essential Portfolios Robo-Advisor

The beginning of this month saw yet another firm enter the automated investing services industry. TD Ameritrade’s Essential Portfolios platform offers clients a diversified portfolio consisting of low-cost, passive ETFs and cash for a flat fee of 30 basis points and an investment minimum of $5,000. TD Ameritrade featured the new service on a public site product page and created a new sitelet for users to begin using the robo-advisor.

TD Ameritrade Public Site Essential Portfolios Page (Truncated)

GEICO Partners with Lyft through Mobile App

At the end of November, GEICO partnered with Lyft to allow GEICO mobile app users to access the rideshare service without opening the Lyft app. The partnership provides convenience for GEICO users and further exposure for the Lyft brand.

GEICO Mobile App – Get a Lyft Ride