Last updated on April 20, 2014 at 21:20 EDT

Banks that offer money management tools may have advantage over startups and software companies

July 16, 2013

Chase and PNC are more trusted and likely to convert than firms like Mint

NEW YORK, July 16, 2013 /PRNewswire-iReach/ — Today leading web researchers Change Sciences Group (www.changesciences.com) released new research showing that banks may have an advantage over startups and software companies like Mint when it comes to providing financial tools which help consumers take control of their finances online. The research shows that the money management offerings of two banks, PNC and Chase, are more trusted by consumers by a wide margin. Consumers also report that they are more likely to become users of the money management services of the two banks compared to other services, after interacting with the marketing web sites of the services.

Photo: http://photos.prnewswire.com/prnh/20130716/MN47345

In 2012, the National Foundation for Credit Counseling and the Network Branded Prepaid Card Association issued a report stating that 56% of consumers admitted to having no budget for expenses, and 42% gave themselves a rating of C, D, or F when asked how knowledgeable they were of personal finances, demonstrating a clear need for consumer help. “It may come as a surprise to some that being a bank appears to be an advantage. It’s the banks’ opportunity to lose, considering how few banks have made consumer-oriented personal financial management a true priority,” said Steve Ellis, a Change Sciences founder.

To learn more about the research visit https://www.changesciences.com/trending/personal-finance-web-site-user-experience-2013 and download a free report. The user experience of the following sites is covered in the free report: PNC Virtual Wallet, Pageonce, Mint, Chase Blueprint, Pocketbook, Credit Sesame, MoneyStrands, BillShrink, HelloWallet, Expenditure, Manilla, Personal Capital.

The research is based on Change Sciences’ Experience Cloud platform, which compares how people experience sites with competitors and with the best sites on the web.

The Experience Cloud platform makes it possible to identify patterns that engender trust and compel people to act. Without the Experience Cloud decision-makers are often limited to their own internal data about how people experience their web sites, which will not reveal whether a competitor’s site is easier to use or more engaging, and, perhaps most importantly, will not say why. The Experience Cloud measures web sites more accurately than traditional surveys since it captures what people do while using sites, not just what they say.

About Change Sciences

Change Sciences is a group of qualitative researchers, data scientists, and programmers dedicated to helping organizations improve usability, engagement, and conversion. It counts 18 Fortune 100 companies as clients and has completed more than 700 projects in the last five years for clients in financial services, healthcare, entertainment, travel, government, and e-commerce, and e-learning.

Media Contact: Kelly Nolan, Change Sciences, 888-864-1160 ext 730, kelly@changesciences.com

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SOURCE Change Sciences

Source: PR Newswire