The Bankwatch

Tracking the consumer evolution of financial services

Who will be the last bank without an iphone app?

Jim notes the new Mercedes app but he also asks the important question. When we consider the relatively small cost why would any bank not have an iphone app, even with rudimentary functions, such as balance and transfer, but through in bill payment and secure communication, and you cannot go wrong. The safari browser is as (more) secure than internet explorer which banks trust for majority of their web banking, so for the life of me I cannot see why this is not a priority. The positive press and customer comments from users translates into marketing gold and customer advocacy.

Canadian Banks? Not one has an iphone app.

Mercedes-Benz launches auto finance iphone app

Along those lines, SunTrust (iTunes link) is the latest megabank to join the store (last week), leaving US Bank, Capital One, BB&T, and HSBC as the remaining top-10 U.S. retail banks without their own iPhone app. Who will be the last one in?

Written by Colin Henderson

October 7, 2009 at 20:58

4 Responses

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  1. No UK bank has a iPhone app either.

    Nathan

    October 8, 2009 at 03:48

  2. I’ll wager the last one will be mine – Union Bank of California.
    John

    John MacAllister

    October 8, 2009 at 15:45

  3. thanks Nathan/ John for those updates. The obvious conclusion is that Banks’ generally see iphone as a one off, and see no particular advantage, and lots of cost associated with development of an iphone app. Sad.

    Colin Henderson

    October 8, 2009 at 22:19

  4. Great post Colin, it really confuses me aswell and I just can’t understand why there are still huge banks out there that haven’t yet embraced the iphone. It certainly isn’t a one off and anyone that thinks that way is being somewhat naieve. Applications on the iphone in my view are a really good way to harness cutomers and bolster reputation, many people just need to realise this.

    Finance Ed

    October 12, 2009 at 04:34


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