Executive Summary

In 2022, US consumers will collectively open 13.1 million new bank accounts via digital channels, per our estimates. This study reveals which of the 14 largest US banks and neobanks are best positioned to capture this influx of new business, based on the strength of their mobile account opening features.

3 KEY QUESTIONS THIS REPORT WILL ANSWER

1. What features do consumers value most when opening a new checking account?
2. What features do top banks and neobanks offer at the account opening stage, and how do they stack up against each other in key feature categories?
3. How do banks and neobanks rank based on what account opening features they offer and how valuable those features are to consumers?

WHAT’S IN THIS REPORT? An analysis of the most in-demand account opening features that an incumbent or neobank can offer via mobile web to attract and upsell users. The findings pinpoint account opening optimization opportunities on mobile.

KEY STAT: Funding a new checking account is top of mind for consumers, with two of the five most in-demand features falling into the category. Nearly 40% of US checking account openers called setting up direct deposit “extremely valuable,” while 30% said the same of using a payment app to make a first deposit.