MagnifyMoney To Release Its First Annual Mobile Banking Satisfaction Study

Posted on Friday, December 12, 2014 by RICHARD HARRIS, Executive Editor

MagnifyMoney is planning to release its first annual Mobile Banking Satisfaction Study. The founders of the company are former bankers turned consumer advocates. The study is a compilation of ratings of both Android and iOS banking apps.

The study featured over 100 banks and credit unions. This also included  50 largest credit unions and 50 largest banks along with some select online direct banks.  There were 8 of the 10 highest ranked apps that were from credit unions. Banking apps ranked as needing improvement. The average rating was 3.8 out of 5.0, with traditional banks averaging 3.7, online direct banks best at 4.0, and credit unions at 3.9.

Key findings include:
  • Best Big Bank App: Capital One (4.1)
  • Best Credit Union: Eastman Credit Union, ESL Credit Union, Redstone Federal, SEFCU, Vystar (4.7)
  • Best Regional Bank App: East West Bank (4.5)
  • Best Online Direct Bank App: Simple (4.6)
  • Worst Big Bank App: Citibank (3.1)
  • Worst App Overall: UMB Bank (2.5)
Overall, online direct institutions, banks and credit unions had results of Android users being more satisfied than with iOS. This comparison resulted in an average 4.0 rating versus 3.1 for iOS users. More app complaints were resulted from iOS users that the apps were not leveraging the latest hardware capabilities.

Being able to bank entirely through our smartphone devices can results in outstanding apps that users can use and as primary ways that businesses can communicate with its customers. The app quality is an important element to how customers are selecting which banks to use. Many of the best apps will deliver user reviews, customer experiences and convenience for the user.
 
Click here to view the Mobile Banking Satisfaction Study.

More App Developer News

Tether QVAC SDK Powers AI Across Devices and Platforms



APAC 5G expansion to fuel 347B mobile market by 2030



How AI is causing app litter everywhere



The App Economy Is Thriving



NIKKE 3.5 anniversary update livestream coming soon



New AI tool targets early dementia detection



Jentic launch gives AI agents api access



Experts warn ai-generated health content risks misinterpretation without human oversight



Ludo.ai Unveils API and MCP Beta to Power AI Game Asset Pipelines



AccuWeather Launches ChatGPT Integration for Live Weather Updates



Stop Using Business Jargon: 5 Ways Buzzwords Damage Job Performance



IT spending rises as banks balance legacy and innovation



Tech hiring slumps as Software Developer job postings fall



AI is becoming more widespread in collaboration tools



FCC prohibits new foreign router models citing critical infrastructure risks



ChatGPT Carbon Footprint Matches 1.3 Million Cars Report Finds



Lens Launches MCP Server to Connect AI Coding Assistants with Kubernetes



Accelerating corporate ai investment returns



Enviromates tech startup launches global participation platform



Private Repository Secures the AI-driven Development Boom



UK Fintech Platform Enviromates Connects Projects Brands and Consumers



Env Zero and CloudQuery Announce Merger



How Industrial AI Is Transforming Operations in 2026



AI generated work from managers is damaging trust among employees



Foresight Secures $25M to Bridge Infrastructure Execution Gap



Copyright © 2026 by Moonbeam

Address:
1855 S Ingram Mill Rd
STE# 201
Springfield, Mo 65804

Phone: 1-844-277-3386

Fax:417-429-2935

E-Mail: contact@appdevelopermagazine.com