The mobile channel has become a strategic priority for financial services firms looking to attract and retain younger clients. Nearly all large and mid-sized financial intuitions allocate sizeable budgets devoted to improving their mobile properties, focusing on mobile app enhancements. In 2018, Corporate Insight’s Mobile Monitor service saw banks, card providers, brokerages and asset management firms update their app capabilities at a rapid pace.

1. MOBILE FINANCE
2019 TRENDS & INNOVATIONS

2. CONTENTS
CORPORATE INSIGHT 2
INTRODUCTION
2018 Trends & Innovations
2019 & Beyond
About Us
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3. The mobile channel has become a strategic priority for financial services firms looking to attract and retain younger
clients. Nearly all large and mid-sized financial intuitions allocate sizeable budgets devoted to improving their mobile
properties, focusing on mobile app enhancements. In 2018, Corporate Insight’s Mobile Monitor service saw banks, card
providers, brokerages and asset management firms update their app capabilities at a rapid pace.
In our August 2018 survey of consumer bank customers, 92% of Millennials who downloaded their bank’s mobile app
indicated that they logged into their accounts at least once a week using the app, with 25% logging in daily. Further, 83%
of people who use their firm’s banking app said that mobile capabilities were Very Important or Extremely Important. Our
recent surveys of retail investors and retirement plan participants show similar mobile preferences. Collectively, these
surveys suggest mobile will continue to play an expanding role in shaping how users interact with their financial services
providers this year and beyond.
2019 will see mobile platforms become more intelligent and useful
to financial services consumers
CORPORATE INSIGHT 3
To accommodate changing customer preferences and the growing
significance of the mobile experience, we expect financial services firms
to continue to enhance their apps in 2019. Developments may include
leveraging such cutting edge capabilities as artificial intelligence (AI) to
provide predictive banking, expanded biometric authentication
techniques and offering increased access to live CSRs from the mobile
channel. Integration and aggregation of accounts is likely to continue to
expand in order to provide clients with a holistic view of their financial
situations from their mobile phones. 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. CONTENTS
CORPORATE INSIGHT 4
Introduction
2018 TRENDS & INNOVATIONS
Virtual Assistant Improvements
Increased Digital Wallet Usage
iOS Platform Enhancements
Mobile-Based Customer Service
Enhanced Mobile Education
Integration & Aggregation
Challenging Challenger Banks
Simplified App Navigation
2019 & Beyond
About Us
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5. As of January 2019, eight firms in the Mobile Monitor coverage group offer a proprietary virtual assistant
within their mobile apps, while several more support third-party platforms like Amazon Alexa, Siri or Google
Assistant. Our 2018 Consumer Banking Survey found that 31% of respondents rated the availability of a
virtual assistant as Very Important or Extremely Important.
Virtual assistants are becoming smarter and more effective
CORPORATE INSIGHT 5Bank of America Erica Funds Transfer
Ally Assist Transaction History
• Ally Assist and Bank of America’s Erica are the most
sophisticated in-app virtual assistants
o Both tools allow clients to filter results when they retrieve key
account information, transfer funds, pay bills and filter recent
transaction results
o Erica, new in 2018, allows clients to activate new cards via the
tool and learns more with each app update
• E*TRADE’s voice assist can provide pre-filled trade tickets,
while virtual assistants from USAA and U.S. Bank respond
to commands by providing links to the related app sections
• More basic virtual assistants available from American
Express and Citi use the tool as a way to inform live
customer service representatives about client inquiries
before transferring users directly to them for a live chat
session

6. Digital wallets add convenience and ease of use to the traditional payment process, eliminating the need to
manually type in card details when making purchases online and in apps. To date, consumer adoption of
major digital wallet platforms (e.g., Apple Play, Google Pay and Samsung Pay) has been low, but improved
technology and increased merchant availability could lead to a significant rise in usage.
Firms allow users to activate digital wallets directly from apps
CORPORATE INSIGHT
6Bank of America App Card Settings PNC Card Settings PNC Device Management
• 56% of the firms in Mobile Monitor offer
direct enrollment in Apple Pay, the most
common option
o These numbers drop for Samsung Pay
(38%), Google Pay (31%), Visa Checkout
(19%) and Masterpass (6%)
• Bank of America offers the widest
variety of wallet types and includes direct
links for Apple Pay, Google Pay, Samsung
Pay, PayPal, Masterpass and Visa
Checkout
• PNC Bank also stands out for providing
the ability to view, suspend and
reactivate digital wallets across operating
systems and platforms

7. Several banks and brokerage firms now leverage iOS device enhancements, including more advanced app
integration with Siri and Business Chat. Additionally, with the release of the iPhone X, Face ID authentication
is now ubiquitous.
Firms expand support for Siri commands and native iOS features
CORPORATE INSIGHT 7
BB&T Siri-Based P2P Payment TD Ameritrade iOS Business Chat
• Siri updates include the following:
o Bank of America, Citi, U.S. Bank and USAA all
added the ability to retrieve account details using
Siri
o BB&T clients gained the ability to initiate Zelle
P2P payments using Siri
o USAA and E*TRADE are the first in the Mobile
Monitor coverage set to add Siri Shortcuts
• Discover and TD Ameritrade added iOS
Business Chat to help users expedite the
process of contacting companies using
Spotlight, Maps and Siri
• TD Ameritrade extended iMessage capabilities
to allow users to share U.S. markets overview
or security quote data with contacts via
iMessage

8. • Firms added new capabilities to
improve access and engagement
with CSRs, specialists and
advisors
o Bank of America and Citi both
added the ability to schedule an
appointment with a banker
through the app
o Ally added a message center to
its app, along with the ability to
attach files to messages
o Merrill Lynch added the ability
to scan and send documents to
advisors
• Firms also made documents
available via the mobile app
o TIAA added access to tax
statements
o Merrill Edge/Lynch and
Ameriprise added access to
statements and additional
account documents
Improving customer service capabilities was an area of focus
CORPORATE INSIGHT 8
Citi Appointment Scheduling Ameriprise Account
Document Archive
Ally Message Center

9. Personal finance and educational content are increasing in value on the mobile platform. Over a quarter
(27%) of mobile users from our 2018 Consumer Bank Survey stated that having access to educational
content that covers a wide variety of financial topics within their bank’s mobile app was Very Important or
Extremely important.
Brokerage firms build out in-app educational resources
CORPORATE INSIGHT 9
TDA Mobile Education Section Fidelity Learning Center TDA Mobile Trader
Trader Education Section
• Multiple firms updated the educational
resources available within their mobile
apps in 2018
o TD Ameritrade added educational
videos to its primary mobile app.
The firm also added Trader
Education videos to its secondary
Mobile Trader app, designed for
active traders
o Fidelity increased the number of
Learning Center modules

10. Providing a holistic view of clients’ entire financial lives became a primary focus for firms this year. Multiple
banks and brokerages improved integration of different account types within the mobile platform, with
leading firms offering aggregation of external accounts as well.
• Notable changes related to account aggregation came from Charles Schwab and Citi
o Citi implemented a new platform on its mobile app that leverages aggregated data for spending analysis and budgeting tools, which are
available to non-Citi customers who create profiles and link external accounts
o Charles Schwab added existing external account management—from the desktop site—to its app
Firms improved account aggregation and integration
CORPORATE INSIGHT 10Citi External Account Aggregation and Analysis Charles Schwab External Account Linking
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11. Improved integration came in many forms, from consolidating features to integrating account applications
o Ally and Citi both added deposit account applications to their apps, available to both new and existing clients
o Ally also improved CD account management by adding related functionality to its app
o Capital One discontinued its separate Wallet app and added card-locking functionality to the main app
o Bank of America and Merrill Edge added cross links that open the other app and automatically authenticate users
Firms improved account aggregation and integration
CORPORATE INSIGHT 11Ally App Account Application Citi App Account Application Bank of America App with Link
to Merrill Edge App
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12. Challenger banks made ripples in 2017, eating into the core client-base of incumbent banks by offering
innovative digital platforms and tools; 2018 saw incumbents fight back by launching their own standalone
mobile-first platforms
Incumbents begin to challenge Challenger Banks
CORPORATE INSIGHT 12Chase Finn App Wells Fargo Greenhouse App
• Chase and Wells Fargo both launched
mobile-first banks in 2018
o Chase introduced Finn in June 2018 as a
standalone mobile bank
o Wells Fargo announced its mobile
checking account, Greenhouse, in late
2017 and rolled out a beta offering
throughout 2018
• Like other innovators, these offerings carry
no fees and cannot be overdrawn
• Both apps employ minimalist designs while
offering robust PFM tools
o Finn users indicate transactions as wants or
needs and rate them with emojis to power
Autosave Rules
o Greenhouse transfers money from the Set
Aside to the Spending account every week
for budgeted spending

13. • Prudential, VALIC and Fidelity
redesigned app navigation for
retirement plan participants,
implementing horizontal tab menus
• Ally streamlined its extensive
vertical slideout menu by
introducing a four-tabbed horizontal
menu, including a customizable
Tasks option
• Robinhood removed the
hamburger menu and organized its
app into four main tabs to
incorporate the new—and short-
lived—Checking & Savings service
More apps are employing horizontal tabbed menus for navigation
CORPORATE INSIGHT 13Fidelity App Robinhood AppAlly App
Several firms made navigation enhancements to simplify the ease of use for their mobile apps. Firms shifted
their design techniques to provide a tabbed menu at the bottom of the app interface instead of the
previously popular hamburger flyout menu. In a 2016 Corporate Insight usability test, participants
overwhelmingly preferred horizontal tab menus over vertical slideout menus.

14. CONTENTS
CORPORATE INSIGHT 14
Introduction
2018 Trends & Innovations
2019 & Beyond
Real-Time Payments to Appear
Direct Access to CSRs via Apps
Advanced iOS Capabilities
Re-Bundling Platforms
Predict Banking Enhancements
About Us
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15. The Clearing House does not expect most banks to provide real-time
payments until 2020, despite the push for this function beginning in 2015.
While firms hesitate due to potential profit loss, we anticipate this function
growing in importance to consumers and becoming an expectation,
especially from younger customers.
• PNC Bank is one of the only major banks with real-time payments and is doing so
with a 2% fee for instant transfers
o It is likely other will join PNC in 2019
• Other competitors within and outside of the financial services industry are exploring
instant fund access options
o Uber partnered with GoBank (Green Dot) and charges a $5 flat fee for drivers to have same-
day access to funds
– Instant Pay allows users to transfer funds to the Uber Debit Card from GoBank up to five times
per day with no fee
o Square also charges a flat fee for instant access to funds via Square Cash
o Venmo allows for instant transfers to its own branded debit card with a 1% fee (with a $0.25
minimum and $10 maximum)
– This fee monetized Venmo for PayPal
o Walmart employees can access funds from their paychecks before their payday with Even
Challengers may succeed in providing real-time payments
CORPORATE INSIGHT 15
Venmo App Transfer Balance

16. Many banks and brokerages will begin providing access
to CSRs via Live Chat or messaging interfaces in order
to resolve account issues
• Live Chat and secure messaging are effective communication
tools to simplify the user experience by providing timely
assistance at a low cost to the firm
o For Millennials and subsequent generations that came of age in
the era of texting, email and messenger apps, picking up a
phone to place a call for assistance is a last resort
• American Express, Citi, Discover, E*TRADE, Merrill
Lynch/Merrill Edge and USAA already provide in-app live
chat or instant messaging; more firms will join them in 2019
Firms will provide access to CSR directly within apps
CORPORATE INSIGHT 16
E*TRADE ChatAmerican Express Message Us

17. There has been considerable emphasis on integration with
device-based virtual assistants like Siri and Google
Assistant in order to streamline mobile usage. Going
forward, we anticipate that integration with these device-
based assistants will become increasingly common as well
as more sophisticated, allowing clients to perform a wider
variety of functions without opening the app.
• Such interactions may include:
o Locking a card
o Scheduling recurring payments
o Setting travel notices
o Placing a trade
o Researching investments
Firms will further integrate with third-party virtual assistants
CORPORATE INSIGHT 17
Discover Card Siri Interactions

18. • In 2019, apps will seek to create hubs for users’
entire financial lives, through integration of new
product types or aggregation platforms
o In 2018, several firms implemented these
solutions (slides 11–12)
• Innovators like Acorns, Qapital and Stash—
covered in our Q4 Mobile Innovators report—are
already expanding beyond initial offerings with
suites of investment, retirement and checking
products
o Robinhood indicated similar moves with the
Checking & Savings product, announced
December 2018—though it retracted the product
after criticism from the SIPC
• In addition to a robust suite of products, firms
can create a consolidated platform by
aggregating account information from other
firms
o APIs—such as those Wells Fargo plans to
embrace—will play a large role in sharing this data
Comprehensive platforms will cover users’ entire financial lives
CORPORATE INSIGHT 18
Stash Banking and Retirement
Promotions
Robinhood Checking & Savings
Promotion

19. Wells Fargo made headlines in 2018 when it announced it would
integrate predictive analytics into its mobile banking platform to
provide customers with a better understanding of their spending
habits. The tool allows users to receive proactive alerts based on
expected upcoming expenses and makes suggestion based on
financial activity. Incorporating predictive analytics into the mobile
experience was expected to take off in the financial services industry
in 2018, however, there was a bit of a learning curve that prevented
many firms from launching similar features.
• We believe that predictive analytics will see many enhancements in 2019,
especially from smaller, more nimble startups that are not saddled by
incredibly large data sets
• Predictive banking is likely to become more proactive as well. Possible
advancements could include:
o Automatically completing transfers on the user’s behalf to accommodate for an
unforeseen expense or upcoming bill
o Creating tailored payment plans for loans and mortgages based on spending habits
o Helping to make recommendations for future purchases and include examples of
cheaper alternatives
Predictive banking will increase in sophistication
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20. CONTENTS
CORPORATE INSIGHT 20
Introduction
2018 Trends & Innovations
2019 & Beyond
ABOUT US
About Corporate Insight
About Mobile Monitor
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21. • Corporate Insight is a New York-based research and
consulting firm that helps financial institutions improve their
customer experience and establish a competitive advantage
• Our Monitor research offers ongoing competitive intelligence
by industry vertical, reporting on the customer experience
from a unique firsthand perspective
• Our Consulting solutions include a range of strategic and
tactical research services, with a focus on emerging
technology and disruptive forces. Our services include:
o Custom research, including mobile-focused engagements
o Survey research, including investor, retirement plan participant
and bank customer surveys
o Industry-wide studies on key topics (e.g., Next-Generation
Investing, Millennials, Financial Wellness, etc.)
o Website and Mobile Audits
• For more information on Corporate Insight, please contact
us at 212-832-2002 or by email
About Corporate Insight
CORPORATE INSIGHT 21

22. • 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 the following:
o Bi-weekly Updates reporting on mobile platform
developments at 25 financial services firms
o In-depth quarterly Reports on such topics as:
– Mobile Innovators
– Digital Wallets
– Virtual Assistants
– Account Information
– Account Opening
o Quarterly capabilities matrices and films
o Analyst support
About Mobile Monitor
CORPORATE INSIGHT 22
Mobile Monitor’s Cross-Industry Coverage Set