Forget low fees, friendly services and convenient location—what really gets some bank customers going these days is a great app.
In fact, a majority of the 4,371 respondents to a recent survey said a better app than the one their current bank offers would convince them to switch. The sentiment is particularly acute among millennials.
Over the past year, 26 percent of those responding to questions from SNL Financial said they switched based on a better app. Looking ahead, the importance of apps to the banking experience becomes even clearer.
SNL asked respondents whether they found their app lacking; 53 percent said they did. Of that group, 54 percent said they would switch banks based simply on one offering better services from the applications they access through smartphones and other mobile devices.