CLIENT STORY

Banking anytime, anywhere

KPMG developed a customer-centric mobile app that empowered regional FirstBank to compete with national banking and financial services institutions.

Client
First Bank
Sector
Banking
Project
Mobile app
  • Client challenge
  • Benefits to client
  • Approach
  • KPMG insights

Client challenge

FirstBank, which serves individual and small business customers in Colorado, Arizona, and California, is a particularly innovative regional bank. In a proactive initiative, it was looking to augment its acclaimed local feel with technological capabilities to create a banking experience that would rival those of national banking institutions. Its goals were to:
  • maintain its more than 50-year strong commitment to the ideal customer experience, bring the convenience of user-friendly, device-independent mobile banking to its individual and commercial customers
  • solidify its competitive position against other regional and national banks.

Benefits to client

This initiative has led to happier customers, lower costs, and a solid competitive position against regional and national banking institutions. Bank customers have embraced the new FirstBank mobile app, which has led to higher customer satisfaction.  Banking on their phones means they rarely need to visit a local branch, which reduces the bank's cost per customer.  
 
The app received an aggregate four-star rating on Google Play, as compared to regional competitors’ two- to three-star ratings.
 
Benefits to the bank include:
  • enhanced customer satisfaction due to decreased need to visit local banking branches
  • reduced costs per diminished in-person customer volume
  • improved ability to compete against national banks.

 

Approach

KPMG led the initiative to develop mobile apps for FirstBank’s retail and commercial customers. To help the bank maintain its more than 50-year commitment to the ideal customer experience, we used a people-centric approach to offer its retail and commercial customers the convenience of an easy-to-use, device-independent mobile banking app.

KPMG insights

Balance cost of ownership and customer experience when developing mobile apps 

Consider developing a hybrid native application. This will enable you to leverage your existing web development team’s skill sets for your mobile apps, instead of hiring additional resources with specific skills applicable only to mobile app development.

Create a single mobile banking interface 

Use the same interface for customers accessing their account information via their laptop, iPhone or Android device, or even Apple Watch, to ensure correct and consistent queries and results.

Don’t treat Apple Watch like a wrist-sized phone 

Customers using their Apple Watch to access their bank account data need speed and at-a-glance capabilities. Trying to do too much, or treating it like a small phone, will significantly dissatisfy your customers.

This app makes what was already easy banking even better!
FirstBank customer

 

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