“In 2020, banks and card issuers adapted to customers’ skyrocketing needs for remote self-service, P2P payment technology and budgeting analysis tools,” said Michael Ellison, president of Corporate Insight. “With the pandemic pushing users to handle all finances online, we expect to see continuing, accelerated investment in intuitive functionality and vital planning resources.”
In the Account Information category, money management was key, with Chase earning two gold medals in part for its recently improved credit card spending analysis tool, and the ability for small business card holders to customize their homepage. Bank of America won a gold medal for its upgraded financial planning interface and account aggregation platform.
The Account Servicing category took on a new degree of importance during the pandemic, as customers looked to interactive customer service and a full suite of options to manage their finances remotely. Discover earned its second consecutive gold medal for its credit card management functionality, letting customers freeze or remove cards from digital wallets. CitiBusiness won a gold medal for its small business card site, pairing ubiquitous live chat with full modification capabilities for login credentials, third-party app access and security questions.
Several innovations in the Payments category highlighted evolving technology and strategy, with Citi winning gold medals for both its small business and retail card sites. Citi Flex Pay, the unique post-purchase installment payment program sets the firm apart, while an equally distinct feature lets users add external payment accounts by providing external login credentials. Chase earned its second consecutive Payments gold medal for its banking site’s consolidation of bill pay and P2P payment services via Zelle, listing all recipients with keyword search and filter options.
To read more about the Monitor Award winners, visit https://corporateinsight.com/announcing-new-user-experience-awards-in-banking-credit-cards/.
About Corporate Insight
Corporate Insight delivers competitive intelligence, user experience research and consulting services to the nation’s leading financial services, insurance and healthcare institutions. As the recognized industry leader in customer experience research for nearly 30 years, we have been the trusted partner to corporations seeking to improve their digital capabilities and user experience. Our best-in-class research platform and unique approach of analyzing the actual customer experience helps corporations advance their competitive position in the marketplace.
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SOURCE Corporate Insight