Bank of the West Breaks New Ground in Mobile Banking with Quick Balance, the Fastest and Easiest Way to Check Account Balances Responding to Customer Demand, Bank of the West Launches New Mobile App PR Newswire SAN FRANCISCO, April 3, 2013 SAN FRANCISCO, April 3, 2013 /PRNewswire/ --Bank of the West today announced the launch of its new, free mobile banking app, featuring Quick Balance – the fastest and easiest way to check account balances and the first of its kind for a North American bank. The opt-in feature, available to Bank of the West online customers, allows users to check their balance with just the slide of a finger, without logging into their account. Beyond Quick Balance, the launch includes new apps for iPhone®, Android® and iPad®, all of which now support bill payment and mobile deposit. To view the multimedia assets associated with this release, please click: http://www.multivu.com/mnr/54578-bank-of-the-west-new-mobile-banking-app-featuring-quick-balance (Logo: http://photos.prnewswire.com/prnh/20120418/MM90603LOGO) With the new app, customers can: oUse Quick Balance to get balances in seconds oDeposit checks by taking a picture oPay bills in seconds oMonitor account activity oTransfer funds between their Bank of the West accounts oFind the nearest ATM or branch "Our own customer feedback indicated that more than eighty percent want to check their balances quickly and easily from their device whenever, wherever they are," said Jamie Armistead, Senior Vice President of Multi-Channel Banking at Bank of the West. "Since our soft launch last month, usage and feedback has been overwhelmingly positive. We've doubled our active mobile banking users and had a three-fold increase in log-ins per day. Consumers vote with their apps, and the new Bank of the West mobile app is clearly a winner," he said. For those who have opted-in to Quick Balance, Bank of the West research reveals that three of four customers are using it at least once per day. "Whether they are multi-tasking moms, on-the-go college students or wealthy business owners, one thing is for certain – our mobile banking customers want to have their finger on the pulse of their accounts," continued Armistead. Well respected industry research supports Bank of the West's own data and customer feedback. According to findings released last week by the Federal Reserve Board and its 2012 Survey of Consumers' Use of Mobile Financial Services, "checking account balances and transaction inquiries" was the most frequent mobile banking activity cited by respondents; in fact, nearly nine in ten (87 percent) of mobile banking users surveyed said they had performed this function within the past twelve months. In commenting on the Quick Balance feature, Daniel Lattimore, CFA and Senior Vice President of Celent, a research and consulting firm focused on the application of information technology in the global financial services industry, said, "In making one of the most common mobile banking tasks as simple as possible, you nailed it." Bank of the West's mobile banking platform gives its customers yet another convenient way to manage their finances, dovetailing with a network of nearly 700 ATMs and more than 650 branches, where friendly, tech-savvy staff is available for help and guidance. Several of the bank's newest branches also include Quick Response (QR) bars and tablet access. "I couldn't be more proud of how customers have responded to our new mobile platform," said Maura Markus, President and Chief Operating Officer of Bank of the West. She added, "And while we've broken new ground with Quick Balance, it's truly just the start; we're laser focused on finding new ways to delight our customers and better meet their needs by providing great digital experiences with a best-in-class branch experience." Beyond providing secure access via the industry's standard encryption technology, Bank of the West is reinforcing its commitment to safeguarding customer information by taking additional privacy and security measures. Among its policies, the Bank never stores account numbers, account balances, check images or other confidential data on devices. According to global advisory firm AlixPartners and its recently released Q4 2012 Mobile Financial Services Tracking Study: o44% of smartphone/tablet owners who switched primary banks in the past year said that mobile banking was important or extremely important in their decision to switch banks oThe ability to check balances with a mobile device is the single most important mobile banking feature influencing the switching decision, selected as a key mobile feature by 37% of consumers who switched banks for mobile banking oSmartphone/tablet owners who adopt mobile banking are more affluent, and have a stronger relationship with their primary bank (e.g., higher number of products and share of wallet), than non-mobile banking adopters. "Bank of the West's Quick Balance application is a great example of a mobile innovation that focuses on addressing a specific consumer need – quickly and efficiently getting balance information," said Bob Hedges, Managing Director at AlixPartners. "Quick Balance also demonstrates how new mobile innovations can be aimed at specific consumer needs and seek to deliver real competitive advantage in the marketplace," he continued. The new app is available for download on iTunes and Google Play. About Bank of the West Founded in 1874, $63 billion-asset Bank of the West (www.bankofthewest.com), member FDIC and equal housing lender, offers a wide range of personal, commercial, wealth management and international banking services. The bank operates more than 700 retail and commercial banking locations in 19 Western and Midwestern states. Bank of the West is a subsidiary of BNP Paribas, which has a presence in 80 countries with nearly 200,000 employees. SOURCE Bank of the West Website: http://www.bankofthewest.com Contact: Debra Jack, Bank of the West Corporate Communications, +1-415-399-7202, firstname.lastname@example.org; Jon Diaz, +1-415-694-6708, email@example.com, or Morgan O'Leary, +1-415-694-6707, firstname.lastname@example.org, both of Racepoint Group for Bank of the West
Bank of the West Breaks New Ground in Mobile Banking with Quick Balance, the Fastest and Easiest Way to Check Account Balances
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