The mobile channel is increasingly important to retail financial services firms. This is driven by a variety of factors, including the widespread adoption of smartphones, more powerful phone operating systems and, crucially, the rise of Millennial customers. In our February 2016 survey of online investors, 71% of Millennials indicated that they had logged into their brokerage account using a mobile device in the past 12 months, compared to 44% of Baby Boomers. Further, 51% of Millennials said that their brokerage firm’s mobile capabilities were “very important” or “extremely important” to them, versus 23% of Baby Boomers. Our recent surveys of retirement plan participants and bank customers show similar generational differences. Collectively, these surveys suggest mobile will increasingly define the digital experience for financial services as Millennials become the industry’s core customer base. To accommodate changing customer demographics and the growing significance of the mobile experience, we expect financial services firms to continue to enhance their apps this year. Developments may include 3D Touch and leveraging such cutting edge capabilities as artificial intelligence (AI), voice technology and expanded biometric authentication techniques. Some will likely introduce more personalized content and offer easier access to key account information (e.g., pre-login), making it simpler for clients to interact with them. In this annual mobile trends review, we explore these and other trends and innovations that are likely to shape the mobile experience this year and beyond.

1. 1

2.  Introduction
 Recent Trends & Innovations
 2017 and Beyond
 About Us
Table of Contents
• Biometric Authentication
• 3D Touch
• Card Management
• Customization &
Personalization
• Voice Technology
• Siri Integration
• DC Plan Mobile Access
• Corporate Insight
• Mobile Monitor
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• Artificial Intelligence
• iOS Optimization
• Social Media Influence
• Key Takeaways

3. Introduction

4. The mobile channel is increasingly important to retail financial services firms. This is driven by a variety of
factors, including the widespread adoption of smartphones, more powerful phone operating systems and,
crucially, the rise of Millennial customers.
In our February 2016 survey of online investors, 71% of Millennials indicated that they had logged into their
brokerage account using a mobile device in the past 12 months, compared to 44% of Baby Boomers. Further,
51% of Millennials said that their brokerage firm’s mobile capabilities were “very important” or “extremely
important” to them, versus 23% of Baby Boomers. Our recent surveys of retirement plan participants and bank
customers show similar generational differences. Collectively, these surveys suggest mobile will increasingly
define the digital experience for financial services as Millennials become the industry’s core customer base.
To accommodate changing customer demographics and the growing significance of the mobile
experience, we expect financial services firms to continue to enhance their apps this year.
Developments may include 3D Touch and leveraging such cutting edge capabilities as artificial
intelligence (AI), voice technology and expanded biometric authentication techniques. Some will
likely introduce more personalized content and offer easier access to key account information
(e.g., pre-login), making it simpler for clients to interact with them. In this annual mobile trends
review, we explore these and other trends and innovations that are likely to shape the mobile
experience this year and beyond.
4
2017 Should See Mobile Finance Apps Grow in Importance and Sophistication

5. Recent Trends &
Innovations
• Biometric Authentication
• 3D Touch
• Card Management
• Customization & Personalization
• Voice Technology
• Siri Integration
• DC Plan Mobile Access

6. 6
• All 27 firms in our Mobile Monitor coverage set now include support for Touch ID on their iOS devices, up from
just 44% in January 2016
• Additionally, 41% of the firms we track also use fingerprint recognition for expedited login on Android devices
• USAA stands out for offering alternative biometric login options that include face and voice recognition, which
is consistent with the firm’s long track record as a mobile innovator
• Other firms are liable to embrace similar biometric-based security practices in 2017
Firms focus on security, with biometric authentication taking center stage
Biometric Authentication
Merrill Lynch Touch ID Chase Android Fingerprint USAA Voice Authentication

7. 7
• 3D Touch allows for different interactions depending
on how hard the user presses on the screen, including
what Apple calls “Quick Actions” and “Peek and Pop”
 Quick Actions: Trigger a menu on the device Home screen to
expedite navigation
 Peek and Pop: Reveals additional details without directing
users to a new screen
• Of the 27 firms covered in Mobile Monitor, 63%
include Quick Actions menu options that appear when
the user presses firmly on app icons from the
iPhone’s Home screen
• Peek and Pop actions are less common among firms,
with only USAA, Capital One Wallet and Vanguard
offering this feature
• Vanguard’s Peek and Pop feature allows clients to preview
content while remaining in their current view and then pop it into
full view
Most firms utilize 3D Touch, allowing clients with a 6s iPhone or newer to
accomplish tasks faster and in fewer steps
3D Touch
Fidelity 3D Touch Quick Actions Vanguard 3D Touch Peek and Pop

8. 8
• Capital One Mobile, Capital One
Wallet, Discover and USAA’s
apps include the option to
temporarily freeze or lock a
credit card if it’s lost or stolen
• Bank of America and BB&T offer
the ability to lock a card as well,
but only for debit cards
• Bank of America, BB&T,
Discover, USAA and Wells Fargo
customers can order and
replace debit and credit cards
via the app
• Capital One Mobile, Citi,
Discover, Fifth Third and USAA
allow users to activate new cards
within their apps
Card issuers are empowering customers with greater card management capabilities
Card Management
Capital One Lock Card
Discover Freeze Account
Bank of America Card Settings

9. 9
• Fidelity offers a unique
personalized Feed that
delivers news and market
information based on clients’
holdings, watch lists, recent
research and their preferred
investing topics
• Fidelity also allows clients to
customize the tabs displayed
on the menu
• Other firms, including BB&T,
E*TRADE, Merrill Edge/Lynch
and Scottrade, allow clients to
customize and arrange the
information that appears on
their app dashboard
Firms are experimenting with greater customization and personalization
Customization & Personalization
Fidelity Feed Preferences
Fidelity Feed Fidelity Feed Topics

10. 10
• E*TRADE provides VoiceOver
support for login, settings, stock
trading and account balances
allowing customers make voice
commands in these sections of
the app
• USAA’s Virtual Mobile Assistant
supports voice commands to help
clients navigate the app
• Ally and Fidelity’s Android apps
include voice-assisted technology,
allowing clients to ask questions
• Santander UK’s app currently
supports simple spoken questions
but soon clients will be able to
fully service their accounts using
the voice assistant*
In-app Virtual Assistants are emerging as AI technology improves
Santander’s SmartBank App Store
Preview
E*TRADE VoiceOver
Voice Technology
USAA Virtual Mobile Assistant
* Santander Launches ‘Voice Banking” Technology. Finextra.

11. 11
• After Apple’s last software update, devices
running iOS 10 now have greater integration
between third-party apps and Siri
• Discover is one of the first card issuers to allow
clients to make a payment using the Siri
function on iOS devices
 Users can now say a phrase like “pay my Discover
card,” and the virtual assistant will collect the
amount to be paid and submit the payment
 This process allows clients to bypass the Discover
app when setting up a payment
Integration with Siri allows clients to make card payments through the virtual
assistant
Siri Integration
Discover Siri Integration

12. 12
• DC plan providers were slower to embrace mobile than banks and
brokerage firms, but this began to change in the last 24 months
• Providers now recognize that mobile account access is crucial to
effectively engage young participants
• In line with this, 70% of firms tracked by our Retirement Plan
Monitor service now offer an iPhone app while 80% offer a mobile-
optimized site
• 13 out of 20 retirement plan providers in our coverage set offer at
least one transaction capability via mobile, an increase from only
two firms in 2013
• We expect the breadth of retirement plan mobile capabilities to
increase in 2017 as Millennials become the majority of the
workforce
• Providers that only offer mobile-optimized sites will feel increasing
pressure to develop apps as consumers generally prefer these over
browser-based platforms
 Our 2016 survey found that 54% of plan participants reported accessing their
retirement account via an iPhone app while only 16% used a mobile site
Mobile access is increasingly important to DC plan participants
DC Plan Mobile Access
Empower iPhone app Voya iPhone app

13. 2017 and Beyond
• Artificial Intelligence
• iOS Optimization
• Social Media Influence
• Key Takeaways

14. 14
• AI and chatbots simplify the financial services customer experience by
providing timely assistance at a low cost to the firm
• Bank of America recently announced its plans to introduce a new digital
assistant in 2017
 The digital assistant, named Erica, will be available on the bank’s mobile app
 Customers will be able to interact with Erica through text or voice technology
 Erica will use artificial intelligence, predictive analytics and cognitive
messaging to help complete tasks (e.g., make payments, view balances, save
money and reduce debt)*
• We expect other firms to unveil similar capabilities in 2017 and beyond
More firms will incorporate AI into their customer service offerings
Artificial Intelligence
Bank of America “Erica” Preview
*Meet Erica, Bank of America’s New Voice AI Banking System. Forbes 2016.

15. 15
• We expect cutting edge firms to take advantage
of new iOS features that allow clients to access
features of their platform without opening the app
(e.g., Siri)
• Discover, Square Cash and Venmo now work with
the iPhone’s Siri feature, allowing users to send
money via a simple voice command without
needing to open the apps (e.g., “Send one dollar
to Pat using Venmo”)
• Apple allows users to send money through
iPhone’s iMessage feature as a text message
Firms will take advantage of iOS improvements to empower clients to complete
simple tasks without having to log into the mobile app
iOS Optimization
Venmo Siri Integration iPhone Send Money

16. 16
• In the last year, Fidelity redesigned its phone app,
introducing a personalized and visually appealing Feed
that resembles a social media news feed
• We expect other firms to borrow design and experience
elements from non-financial apps to enhance these
platforms with more interesting and visually stimulating
features
Firms will look to introduce elements into their apps that are outside the traditional
norm of financial services mobile offerings
Social Media Influence
Fidelity Feed

17. 17
Most financial services firms have mastered the basics of mobile account information and
transaction capabilities. Firms are now shifting their efforts toward exploring ways to differentiate
their mobile offerings, leveraging new technology to make it easier for clients to interact with them.
Looking ahead, we expect to see the following developments in 2017:
• Firms will leverage the emergence of improved AI technology to offer more self-service features within their
apps, including voice command capabilities and virtual assistants
• Financial institutions will accelerate efforts to integrate personalization capabilities into their apps to meet
customers’ growing expectations for a tailored mobile experience
• Firms will offer more useful functionality and information pre-login, taking advantage of new iOS capabilities
like integration with Siri and 3D Force Touch
• More firms will adopt biometric authentication techniques in order to provide a more secure and convenient
mobile experience for logging in and conducting high-risk activities
Key Takeaways
Key Takeaways

18. About Us • Corporate Insight
• Mobile Monitor

19. • Corporate Insight is a New York-based research and consulting firm that helps financial institutions improve
their customer experience and establish a compelling competitive advantage
• Our Monitor research offers ongoing competitive intelligence by industry vertical, reporting on the customer
experience from a unique firsthand perspective
• Our Consulting Services team provides a range of strategic and tactical research services, with a focus on
emerging technology and disruptive forces. Our services include:
 Custom research, including mobile-focused engagements
 Survey research, including investor, retirement plan participant and bank customer surveys
 Industry-wide studies on key topics (e.g., Next-Generation Investing, Millennials, fintech startups, etc.)
 Website and Mobile Audits
• For more information on Corporate Insight, please contact us at 212-832-2002 or by email here
19
About Corporate Insight

20. • Mobile Monitor is Corporate Insight’s subscription research
service that tracks mobile development across the bank,
brokerage, credit card and asset management industry
segments
• We provide our subscribers with:
 Bi-weekly Updates reporting on mobile platform developments
at over 100 firms
 In-depth Quarterly Reports on such topics as:
 Mobile Leaders
 Mobile Sites
 Alerts
 Authentication & Security
 Menu Design and Navigation
 Quarterly capabilities matrix and films
 Analyst support
20
Mobile Monitor’s Cross-Industry Coverage Set
About Mobile Monitor

21. 21
Recent Syndicated Studies
Satisfying Today’s Retirement Plan Participant
This study shares the results of our September 2016 survey of close
to 1,500 DC plan participants, shedding light on participant
satisfaction with providers and examining such key aspects of the
relationship as advice and planning offerings, communication,
mobile apps and websites. The study also reviews how participant
behaviors and preferences have changed since 2013 and identify
the web and mobile features that matter most to users.
Download study preview
Millennials Revisited: Financial Services and the
Digital Generation
This report, a follow-up to our 2014 study on Generation Y, helps
financial services marketers, product managers and strategists
better understand Millennials and identify effective tactics for
serving this demographic. The study addresses key topics such as
how Millennials’ financial attitudes and behaviors differ from
earlier generations, what financial product features Millennials
value most and how financial services firms can effectively use
technology and social media to engage this group.
Download study preview
Next-Generation Investing: The Incumbents Arrive
In our annual review of the digital advice space, we explore key
trends and opportunities in the market, examine digital advice
platforms from incumbent firms and leading fintech firms, and
discuss the implications these technologies have for the financial
services industry. We also provide survey-based insights into the
investors who are most likely to embrace digital advice and analyze
how digital advice is shaping markets beyond retail investing,
including the defined contribution and life insurance markets.
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Blockchain Solutions and the Future of Finance
Our first in-depth study on blockchain explores the technology’s
potential short-term and long-term impact on the financial services
industry, helping readers understand how blockchain could simplify
financial processes, maximize efficiency and improve the end-user
experience. The study identifies the major trends affecting
blockchain implementation and profiles 14 organizations that are
creating blockchain solutions for financial services. It also illustrates
seven potential blockchain use cases, including loyalty programs,
digital identity management and cross-border payments.
Download study preview