Digital Banking Hub Roundup

New USAA app gets straight to the point | Apple’s account deletion requirement | Starling goes into spend category overdrive

Following Wells Fargo’s app overhaul, USAA is rolling out its latest offering that promises much in terms of minimizing most user journeys to within two clicks.

“With navigation being prioritized, features that were previously buried are easily accessible,” we recently wrote. “The home value monitoring feature, for example, is easily accessed having previously been tucked away in the app. That and other features have benefited with the new structure and are now accessible directly from the homepage.”

At the Digital Banking Hub we closely follow the market, looking for upgrades and changes across providers. This month, we’ve taken a close look at Starling’s spend management tool.

The UK-based digital-first bank has expanded the list of categories that customers can use to track their spending. The total number of categories is now a whopping 53. Read our analysis, here.

The UK market will see much more development in this area in the coming months partly because the country’s regulator the Financial Conduct Authority (FCA) is encouraging lenders to “direct customers who need it to money guidance or free debt advice.” We’ll be tracking and analyzing additional changes.

Elsewhere, Apple is enforcing developer rules, meaning app providers must ensure that account deletion processes are simple to use. Financial-services brands may be treated leniently, but as we write, the rule supports a wider understanding that account closure journeys should be as navigable as anything else. We assess how different providers address the closure journey.

Featured best practice

Citi offers 3D touch navigation. See it here.

Statistic of the month

55% of total US retail checking account providers tracked by the Digital Banking Hub offer customers the ability to rename their accounts in app (67% of national banks, 35% of super regionals and 61% of credit unions). Check out the all-new Data Explorer to see more.

“With navigation being prioritized, features that were previously buried are easily accessible...”

The month ahead

Spanning retail, small business, mortgage and unsecured lending, investments and credit cards Digital banking Hub users are able to make more informed strategic decisions based on our ongoing analysis. We provide information and diagnostics on onboarding and servicing within each of these areas for leading banks, credit unions, fintechs and other lenders.

To gain access to our analysis and leading data insights into the digital banking industry, email: Suraya.randawa@curinos.com

Michael McCaw
Digital Content Editor
michael.mccaw@curinos.com
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