Bank of the West’s Quick Mobile app won the Monarch Innovation Award for 2014 Most Innovative Product/Feature. The award was presented by Barlow Research Associates during a Webcast held earlier. The annual award is presented to financial institutions and industry partners in recognition of business to business innovations.
Available on the iPhone®, iPad® and Android™ devices, Quick Balance is a mobile banking app that provides customers with an unmatched user experience to better manage their finances. Through Quick Balance, Bank of the West has revolutionized the way mobile banking is done, allowing customers to easily access the information that matters to them the most : the ability to view up to five account balances at once without logging in, or an in-app messaging tool that allows customers to receive personalized and contextual messages from the bank such as a product promotion or link to an educational video on the bank's YouTube channel.
Although Quick Balance has only been available to customers for about a year, user activity demonstrates the value of the platform. Active Quick Balance customers perform an average of 14.5 transactions per month and more than 10 percent of mobile banking users have opted in for the service.
"Small business owners are among our most time-starved customers, and we're constantly innovating to provide them with services that add real value and best meet their needs. No other North American bank enables small business owners to view up to five accounts without logging in to their mobile app, and we appreciate Barlow Research Associates for recognizing this unique and in-demand feature, which delights our customers and makes us stand out among our peers," said Michelle Di Gangi, executive vice president of small & medium enterprise banking at Bank of the West.