Only half (50%) of the world’s 30 major private banks and wealth
managers offer mobile applications (apps) to their clients and only
one-in-ten providers have services specifically designed for mobile
technology.
MyPrivateBanking’s survey of mobile apps availability
matched research by PBI last year that found only limited take
up of mobile app technology.
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The findings come as mobile phones and tablet computers are
rapidly growing as an online interface for banking and wealth
management clients, particularly among younger high net worth
individuals.
Limited roll-out of app-specific features
Just 20% of banks came up with mobile apps with features that
were not available on their own websites.
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By GlobalDataOnly three of the banks surveyed offered applications that moved
beyond online banking or account checking functionality and
provided features such as smart, location based services.
None of the surveyed banks offered a full-service mobile
application, which would allow real time access to a client´s
portfolio, financial research as well as specific mobile features,
such as financial planning tools, that allow client
personalisation.
Tech leaders: Standard Chartered Singapore
MyPrivateBanking identified Standard Chartered Singapore as
having the best mobile app. The app offers a wide range of
services, from the standard location service of the nearest
branch/ATM, with location based maps, to viewing account and credit
cards details, to transferring funds and paying bills with an
electronic check.
The research assessed 30 private banking providers, including
BNP Paribas, Citigroup, Coutts, Credit Suisse, Deutsche Bank,
Goldman Sachs, Rothschild and UBS Switzerland among others.
