logo
Bank and Credit Card Apps and Websites Struggle to Stand Out, J.D. Power Finds

Bank and Credit Card Apps and Websites Struggle to Stand Out, J.D. Power Finds

Business Wire29-05-2025

BUSINESS WIRE)--As mobile apps and websites have increasingly become the primary customer touch point for the nation's bank and credit card brands, it's getting harder to tell them apart from one another, given the similarity in core capabilities. According to a series of recent studies of bank and credit card mobile app and online users, released today by J.D. Power, the gap between best-performing and lowest-performing apps and websites has shrunk to its lowest level to date, providing customers a highly consistent but unmemorable digital experience from one brand to the next.
The studies—J.D. Power 2025 U.S. Banking Mobile App Satisfaction Study; SM J.D. Power 2025 U.S. Online Banking Satisfaction Study; SM J.D. Power 2025 U.S. Credit Card Mobile App Satisfaction Study; SM and J.D. Power 2025 U.S. Online Credit Card Satisfaction Study SM —track overall customer satisfaction with banking and credit card providers' digital offerings.
'We're seeing the digital customer experience for banking and credit card apps and websites plateau as most players have refined their digital properties around a well-defined set of proven industry best practices,' said Sean Gelles, senior director of banking and payments intelligence at J.D. Power. 'However, as the consumer technology landscape rapidly evolves with generative artificial intelligence and other advanced tools becoming part of consumers' everyday lives, banks and credit card companies are under growing pressure to innovate and elevate digital offerings.'
Following are some key findings of the 2025 studies:
Overall satisfaction improves: When it comes to the foundational basics of the digital customer experience, such as seamless and speedy log-in, modern appearance and easy navigation, the majority of bank and credit card mobile apps and websites deliver a positive, if somewhat homogenous, customer experience. Overall satisfaction with U.S. national banking apps is 669 (on a 1,000-point scale), up 18 points from 2024, and overall satisfaction with credit cards is 659, up 10 points from 2024.
Multifactor authentication finds its groove: Once considered a cumbersome hinderance to the log-in process, multifactor authentication has now become a key driver of customer satisfaction. Among national banking app users, overall customer satisfaction is 16 points higher when customers use multifactor authentication prior to log-in. This is likely the result of increased focus on security among customers and improvements in the authentication process, which have made it easier to log-in using multifactor authentication.
An opening for AI: Virtual assistant utilization and customer satisfaction both decline in the 2025 studies. While virtual assistants are increasingly adopted by banks, many have fallen short of customer expectations due to limited conversational capabilities and narrow functionality. Although some banks and credit card companies are beginning to integrate AI and generative technologies, these assistants remain far less advanced than some state-of-the-art models with which customers are becoming increasingly accustomed.
'We're seeing customer satisfaction improving with banking and credit card apps and websites this year because of technical enhancements and speed,' said Jon Sundberg, director of digital solutions at J.D. Power. 'There is no question these digital tools have become more user-friendly, but utility alone is not the only factor in the overall digital experience. To differentiate and keep pace with ever-growing consumer expectations, banks and credit card companies are going to need to innovate further and break new ground on the complete digital experience.'
Study Rankings
Bank of America ranks highest in banking mobile app satisfaction among national banks, with a score of 678. PNC (675) ranks second and Chase (673) ranks third.
Capital One ranks highest in online banking satisfaction among national banks, with a score of 684. Chase (681) ranks second and Bank of America (670) ranks third.
American Express ranks highest in credit card mobile app satisfaction for a second consecutive year, with a score of 687. Wells Fargo (676) ranks second and Discover (674) ranks third.
American Express ranks highest in online credit card satisfaction for a second consecutive year, with a score of 704. Wells Fargo (693) ranks second and U.S. Bank (690) ranks third.
Fifth Third Bank ranks highest in banking mobile app satisfaction among regional banks, with a score of 667. Santander (666) ranks second and M&T Bank (660) ranks third.
Regions Bank ranks highest in online banking satisfaction among regional banks for a second consecutive year, with a score of 683. Huntington (683) ranks second and Citizens Bank (667) ranks third.
See the rank chart for each segment at http://www.jdpower.com/pr-id/2025056.
The U.S. Banking Mobile App Satisfaction Study; U.S. Online Banking Satisfaction Study; U.S. Credit Card Mobile App Satisfaction Study; and U.S. Online Credit Card Satisfaction Study each measure overall satisfaction with banking and credit card digital channels based on four factors: navigation; speed; visual appeal; and information/content. The 2025 studies are based on responses from 16,781 retail bank and credit card customers nationwide and were fielded from January through March 2025.
To learn more about these studies, visit https://www.jdpower.com/business/digital-banking-and-credit-card-studies-platform.
About J.D. Power
J.D. Power is a global leader in consumer insights, advisory services, and data and analytics. A pioneer in the use of big data, artificial intelligence (AI) and algorithmic modeling capabilities to understand consumer behavior, J.D. Power has been delivering incisive industry intelligence on customer interactions with brands and products for more than 55 years. The world's leading businesses across major industries rely on J.D. Power to guide their customer-facing strategies.
J.D. Power has offices in North America, Europe and Asia Pacific. To learn more about the company's business offerings, visit JDPower.com/business. The J.D. Power auto-shopping tool can be found at JDPower.com.

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Triple-I: US Personal Auto Insurance Industry Generates Profitable Underwriting Result but Faces Headwinds Due to Legal System Abuse, Regulatory Environment
Triple-I: US Personal Auto Insurance Industry Generates Profitable Underwriting Result but Faces Headwinds Due to Legal System Abuse, Regulatory Environment

Business Wire

time36 minutes ago

  • Business Wire

Triple-I: US Personal Auto Insurance Industry Generates Profitable Underwriting Result but Faces Headwinds Due to Legal System Abuse, Regulatory Environment

MALVERN, Pa.--(BUSINESS WIRE)--The United States personal auto insurance industry achieved its strongest underwriting performance in the post-pandemic era, recording a net combined ratio of 95.3 in 2024, but continues to face headwinds due to escalating legal system abuse and a challenging regulatory environment, according to a new Issues Brief published today by the Insurance Information Institute (Triple-I). "The growing impacts of legal system abuse, driven by the exploitive tactics of billboard attorneys, combined with an increasingly complex regulatory environment, will continue to put pressure on the market." 'While the improved 2024 underwriting performance is encouraging, we remain focused on several challenges facing the personal auto insurance industry,' said Triple-I CEO Sean Kevelighan. 'The growing impacts of legal system abuse, driven by the exploitive tactics of billboard attorneys, combined with an increasingly complex regulatory environment, will continue to put pressure on the market. It's essential for auto insurers to continue managing these evolving risks effectively to sustain profitable growth.' Key Performance Highlights Triple-I's Issues Brief showed the personal auto insurance sector's improvement across multiple metrics in 2024: Premium Growth: The industry maintained robust growth momentum with a net written premium increase of 12.8% in 2024, following 14.4% growth in 2023. This marks two consecutive years of double-digit premium growth, outpacing the broader U.S. property/casualty (P/C) industry for the second consecutive year. Loss Performance: Direct incurred loss ratios improved dramatically, falling 21.7 percentage points from a peak of 86% in Q4 2022 to 64% by the end of 2024. This substantial improvement reflects the industry's successful efforts to align pricing with risk and implement effective loss control measures. Historical Context: The personal auto line has outperformed the net combined ratio of the overall U.S. P/C industry in 10 of the past 20 years since 2005. Ongoing Challenges and Emerging Risks Despite 2024's improved financial performance, the industry continues to face significant headwinds which could impact future results: Legal System Abuse: Increased billboard attorney involvement in claims and larger jury awards drove auto liability losses and defense and cost containment expenses up by a range of $76.3 billion to $81.3 billion from 2014 to 2023, according to a 2024 Triple-I/Casualty Actuarial Society study. Regulatory Environment: State regulatory processes have become increasingly challenging, with approval timeframes for rate filings growing 40% longer from 2010 to 2023. Additionally, the percentage of filings receiving less rate impact than requested by carriers has increased by 10 percentage points, potentially limiting market availability and competitive pricing. Frequency vs. Severity Trends: While claim frequency remains below pre-pandemic levels, severity continues to rise year-over-year, with pure premium trends increasing cumulatively by 25.0 points from 2019 to 2024. About the Insurance Information Institute (Triple-I) Since 1960, the Insurance Information Institute (Triple-I) has been the trusted voice of risk and insurance, delivering unique, data-driven insights to educate, elevate and connect consumers, industry professionals, policymakers and the media. An affiliate of The Institutes, Triple-I represents a diverse membership accounting for nearly 50% of all U.S. property/casualty premiums written. Our members include mutual and stock companies, personal and commercial lines, primary insurers and reinsurers – serving regional, national and global markets. About The Institutes The Institutes® are a not-for-profit comprised of diverse affiliates that educate, elevate, and connect people in the essential disciplines of risk management and insurance. Through products and services offered by The Institutes and nearly 20 affiliated business units, people and organizations are empowered to help those in need with a focus on understanding, predicting, and preventing losses to create a more resilient world. The Institutes is a registered trademark of The Institutes. All rights reserved.

Specialities Inc. Introducing All Natural Bellentani Products
Specialities Inc. Introducing All Natural Bellentani Products

Business Wire

time37 minutes ago

  • Business Wire

Specialities Inc. Introducing All Natural Bellentani Products

MILLINGTON, N.J.--(BUSINESS WIRE)-- Specialities, Inc. is thrilled to announce the arrival of the All-Natural line of Bellentani cured meat products, a premium Italian delicacy crafted with tradition and authenticity. Beginning July 2025, these exceptional items will be available to consumers nationwide, offering an unparalleled taste experience at an affordable retail price of $6.99 for a 3-oz package (price may vary by variety and location). Our Handcrafted Prosciutto is made with simple ingredients -- Bellentani Prosciutto is minimally processed, free from artificial ingredients, and delivers the rich, savory flavor that has made Italian prosciutto a beloved staple. Produced by Bellentani, a family-owned Company, a heritage brand dating back to 1821 in Modena, Italy, this prosciutto represents centuries of expertise and a commitment to excellence. We are proud to introduce this all-natural prosciutto that stays true to traditional Italian methods, ensuring the highest quality and purity in every slice. Whether enjoyed on a charcuterie board, layered in a sandwich, or paired with fresh fruit and cheese, All Natural Bellentani Prosciutto delivers an unmatched flavor experience for every occasion. Exclusively distributed by Specialities, Inc., All Natural Bellentani Prosciutto has the highest standards of safety and quality. To learn more about this exciting launch, visit or contact Specialities, Inc. at 1-908-647-6485. About Specialities, Inc. Based in Millington, NJ, Specialities, Inc. is a trusted distributor dedicated to bringing high-quality, authentic food products to consumers. With a focus on excellence and tradition, the company continues to deliver premium selections from renowned brands worldwide. Please join us on June 29 – July 1st, 2025, at the Summer Fancy Food Show in the JAVITS CENTER, NYC, to learn more about this and other innovative products.

Specialities Inc. Partnership with Fromagerie Milleret
Specialities Inc. Partnership with Fromagerie Milleret

Business Wire

time37 minutes ago

  • Business Wire

Specialities Inc. Partnership with Fromagerie Milleret

MILLINGTON, N.J.--(BUSINESS WIRE)--Specialities ®, Inc. is thrilled to announce our new partnership with Fromagerie Milleret of France. Founded in 1921 in Franche-Comté by Henri Milleret, the cheese factory continues to be family-owned and has been dedicated to cheese production for three generations. One of the standout features of Fromagerie Milleret is its commitment to quality milk. All the milk used in their cheeses is sourced from local farms within an average radius of 40 km from the dairy and is processed within 48 hours of collection. The predominant Montbéliarde breed of cows, recognized for their distinctive white coats with brown spots, contributes to the exceptional quality of their milk. Fromagerie Milleret specializes in fine cheeses, particularly their signature tender, soft-ripened cheese made with summer truffles from Italy. Their creamy Brie cheese, which is free from colors, preservatives, or additives, exemplifies the excellence of cheese produced by Fromagerie Milleret. With Milleret Fromagerie as a valued partner, Specialities, Inc. will continue to provide U.S. consumers with wonderful opportunities to discover new and exciting products. Founded in 1991, Specialities, Inc. is a respected importer, distributor, and category builder of specialty, value-added food products for the U.S. deli and specialty markets, as well as select quality-driven food service distributors. Our best-in-class products are sourced from both domestic and international origins. Please join us on June 28 – July 1st, 2025, at the Summer Fancy Food Show in the JAVITS CENTER, NYC, to learn more about this and other innovative products.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store