Keynote® (NASDAQ: KEYN), the global leader in Internet and
mobile cloud testing and monitoring, today announced the results of
a new study examining the business effectiveness of U.S. retail
bank marketing websites. In the latest Keynote web banking study,
BB&T took first place for Overall Customer Experience for the
second year in a row, while Citibank scored highest for
Responsiveness (Speed) and U.S. Bank took first for Reliability.
The entire study is available for immediate purchase. To request
more information please visit: http://bit.ly/BankingStudy.
The study was conducted by the Competitive Research group within
Keynote. Winners of Keynote Competitive Research studies are
eligible for Keynote’s Online Excellence Program which recognizes
the "best of the best" websites as ranked in the studies. The
rankings are based on responses from real users, who access
websites in their normal settings and are asked to perform tasks on
each of the sites studied, as well as real data collected through
Keynote website monitoring to assess the technical quality of the
sites. For each study, Keynote recognizes the companies with the
overall top ranking, as well as those exhibiting excellence in
specific categories.
According to a recent study from industry research group
Novantas LLC, the most common types of in-branch banking
transactions, from opening bank accounts to making deposits and
resolving problems, have been declining steadily every year since
2006. Some analysts are even predicting as much as a 50% reduction
in the number of U.S. branches by end of decade. With such a
precipitous decline in the number of in-person customer
transactions and interactions, the already important goal of
providing great online customer experience will become paramount as
more and more transactions occur online. With this background,
Keynote’s 2013 study of the business and technical effectiveness of
the websites of 10 of the top U.S. retail banks should hold added
significance for all those in the banking industry charged with
ensuring the health and vibrancy of their online offerings.
For the ‘Customer Experience’ portion of the study, Keynote
conducted online user testing sessions with 2,000 prospective
customers (200 per site) from across the United States as each
interacted with the website of one of 10 retail banking websites:
Bank of America, BB&T, Chase, Citibank, PNC, Regions, SunTrust,
TD Bank, U.S. Bank and Wells Fargo.
Keynote Competitive Research produces leading industry research
using the company’s commercially available Web performance
monitoring and real user experience testing products. Keynote
regularly evaluates the current state of online customer
experience, technical quality (responsiveness/reliability) and
implementation of best practices on leading websites across a wide
variety of vertical markets including financial services,
automotive, media/entertainment, retail, travel and technology. For
the ‘Customer Experience’ component of the study, Keynote sent 200
U.S. resident Internet users to each of the 10 banking websites.
Panelists were invited to evaluate a banking site where they are
not a current customer.
The online panelists were asked to evaluate the site’s home page
and think about how helpful the home page was for understanding
what they are able to do on the site, as well as which specific
aspects of the home page were helpful and/or appealing. Panelists
were then asked to use the site to find a checking or savings
account that might suit their needs. Next, panelists were asked to
proceed through the process of opening that account on the site,
going as far as possible in the process without actually submitting
the application. Finally, participants were asked to spend a few
minutes trying to answer a question they might have about the
bank’s online banking services, fees, branch location, support
hours or other services or policies that may influence their
decision to open an account with the bank.
The study revealed that when tested by actual consumers
BB&T’s website (www.bbt.com) offered the strongest Overall
Customer Experience, finishing first across the board in the Brand
Impact, Acquisition, Online Adoption and Customer Satisfaction
categories. Other key findings include:
- Design & Organization continues to
be the most important aspect of the customer experience, predicting
Brand Perceptions and Customer Acquisition;
- Customer Support and Privacy &
Security continued to increase in importance in 2013;
- Offering Interest and Other Financial
Accounts Interest declined slightly in importance;
- Ease of Opening Account, Ease of
Finding Account, and Site Performance remain influential
drivers.
“Just as you wouldn’t want to do your in-person banking in a
dingy, cramped and cluttered physical space, our quantitative
analysis revealed that when actual users visited the banking sites
in our study, having a well-designed and logically organized site
continues to be the most important predictor of a positive customer
experience. Similarly, providing good customer support along with
the level of interest in the bank’s offerings (i.e., satisfaction
with the available accounts including fees, minimum balance
requirements, interest rates, etc.) and ease of opening an account
online, were also very important to our panel of testers,” said Ben
Rushlo, senior director of performance management at Keynote. “In
the Technical Quality portion of the study,” Rushlo continued,
“U.S. Bank showed extremely good uptime, averaging 99.9 percent,
which for a banking transaction that includes authentication is
extremely hard to do. The variation in average load time was also
surprising, with the top-performing sites showing average page
download times of less than two seconds and the lower tier of sites
showing average page load times of more than three seconds. Such a
wide gap in response times is surprising for an industry that has
been and continues to be rightly focused on providing their
customers with high performing websites.”
More Information about the Technical Quality
Rankings in the 2013 Bank Marketing Study
In addition to evaluating customer experience with its panel of
actual users, the Keynote study also examined two broad aspects of
technical quality: responsiveness and reliability. Responsiveness
comprises: high speed response, DSL (midband) response, response
time consistency, geographic uniformity and load handling, while
reliability is comprised of availability and outages.
For the ‘Technical Quality’ portion of the study, using
measurement computers located in 12 locations across the US,
Keynote measured a typical transaction of searching for,
researching and applying for a bank account online. Each measured
transaction began at the site’s Home Page then followed the process
of searching for, selecting and applying for an account on the
bank’s site. Based on the thousands of transactions monitored over
the course of the study, U.S. Bank ranked first for Reliability,
while Citibank ranked first for Responsiveness (Speed).
In order to collect the Technical Quality data Keynote used its
Transaction Perspective® product, the leading real browser-based
service for measuring and monitoring website performance from the
end user perspective. With Keynote Transaction Perspective the
company examines website performance from multiple geographic
locations by simulating users clicking through transactions on a
website. Keynote collected approximately 6,000 data points that
detailed each of the sites’ technical performance in terms of page
responsiveness and reliability.
The study is available for purchase from Keynote and comes with
extensive analysis of brand impact and acquisition impact and the
customer experiences driving sites’ performance in these areas.
Clients will receive an executive presentation, extensive back-up
charts and illustrations, and online access to all clickstreams,
verbatims, question responses and panel facts for all panelists at
all sites for all tasks and can download and use this data in their
own research. To inquire about a copy view:
http://bit.ly/BankingStudy.
About Keynote
Keynote® (NASDAQ:KEYN) is the global leader in Internet and
mobile cloud testing & monitoring. The company maintains the
world’s largest on-demand performance monitoring and testing
infrastructure for Web and mobile sites comprised of over 7,000
measurement computers and mobile devices in over 275 locations
around the world that enable companies to continuously improve the
online and mobile experience. Keynote currently collects over 700
million mobile and Web performance measurements daily and in 2012
was recognized by Forbes as “One of the Best 100 Companies in
America” with under one billion in revenue. Known as ‘The Mobile
and Internet Performance Authority™,’ Keynote offers three
market-leading product platforms:
Keynote Perspective® provides on-demand performance
monitoring for enterprise Web and mobile sites including online
portals, e-commerce sites and B2B sites. Over 2,000 customers rely
on Keynote Perspective services to know precisely how their
websites, content, and applications perform on actual browsers,
networks, and mobile devices.
Keynote DeviceAnywhere® is the industry's leading
cloud-based software platform for automated QA testing and
monitoring of mobile applications and websites on real smartphones
and tablets. DeviceAnywhere is used by over 1,000 mobile
enterprises and developers to assure the highest quality experience
of their connected mobile users.
Keynote SIGOS® offers active end-to-end Quality of
Service (QoS) testing and monitoring solutions for mobile, fixed
and VoIP communications. Its SITE and Global Roamer products are
used by over 200 network operators, content providers, carriers and
regulators in over 100 countries worldwide.
Keynote's 4,000 customers represent top Internet and mobile
companies and include AT&T, Disney, eBay, E*TRADE, Expedia,
Google, Microsoft, Sony Mobile Communications AB, T-Mobile and
Vodafone. Keynote Systems, Inc. is headquartered in San Mateo,
California and can be reached at http://www.keynote.com/ or by
phone in the U.S. at 1-800-KEYNOTE (1-800-539-6683).
The trademarks or registered trademarks of Keynote Systems, Inc.
in the United States and other countries include Keynote®,
DataPulse®, Keynote Customer Experience Rankings®, Perspective®,
Keynote Red Alert®, Keynote WebEffective®, The Internet Performance
Authority®, MyKeynote®, SIGOS®, SITE®, keynote® The Mobile &
Internet Performance Authority™, Keynote FlexUse®, Keynote
DeviceAnywhere®, Keynote DeviceAnywhere Test Center®, Keynote
DemoAnywhere® and Keynote MonitorAnywhere® All related trademarks,
trade names, logos, characters, design and trade dress are
trademarks or registered trademarks of Keynote Systems, Inc. in the
United States and other countries and may not be used without
written permission. All other trademarks are the property of their
respective owners. © 2013 Keynote Systems, Inc.
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