MRID Member Research &

Intelligence Division

July 20, 2011

Presented By

Brand Engagement As the Payoff of

Mobile Apps (A Case Study)

Maritza DiSciullo Vice President,

Member Research & Intelligence

Elaine Offley Member Research Strategist

Property of Navy Federal Credit Union

MRID Member Research &

Intelligence Division

ABOUT NAVY FEDERAL

• World’s Largest Credit Union

- 78 years in business

- Over 3.5 million members

- $44 billion in assets

- 214 branches worldwide

- 454 proprietary ATMs worldwide

• Vision

“Perform with such excellence that all present and potential members will

choose Navy Federal as the preferred source for their primary, lifetime financial

services.”

2

Property of Navy Federal Credit Union

MRID Member Research &

Intelligence Division

• Our Members

– Army, Air Force, Navy, Marine Corps, DoD Personnel and their families

• 31% Military/DoD affiliated

– Highly mobile – literally and figuratively

– Over 40% of our adult membership are

between the ages of 18-34

ABOUT NAVY FEDERAL (cont’d)

3

Property of Navy Federal Credit Union

MRID Member Research &

Intelligence Division

MOBILE BANKING USERS BY GENERATION

4

Property of Navy Federal Credit Union

MRID Member Research &

Intelligence Division

5

What are our current

challenges?

Property of Navy Federal Credit Union

MRID Member Research &

Intelligence Division

6

What did we do about

it?

Property of Navy Federal Credit Union

MRID Member Research &

Intelligence Division

TYPES OF DEVICES BEING USED

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www.navyfederal.org

Property of Navy Federal Credit Union

MRID Member Research &

Intelligence Division

RESEARCH EVOLVED AS TECHNOLOGY EVOLVED

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SMS/Alerts (Text only)

Mobile Web (m.navyfederal.org)

iPhone App Android App Future…

May 2010 Late Summer 2011 January 2010

Mobile Banking

Launch to members

Usability Testing Yes! IDIs/Exploratory

Concept Testing Wireframes/Beta

Post Launch Refinement

Usability Testing No. Some employee

feedback

Launched to members

Usability Testing Yes! IDIs/Exploratory (plus concept refinement

IDIs/Exploratory)

Usability Testing No. Some employee

feedback

Launched to members

iPad/Tablet?

BlackBerry App?

Mobile Deposit?

Bill Pay?

Surveys?

Property of Navy Federal Credit Union

MRID Member Research &

Intelligence Division

OVERALL MOBILE APP KEY FINDINGS

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•Primary purpose for apps – to access their accounts

•Consistency is key

•Keep it simple; finger sizes vary

•Be cognizant of colorblindness

•Don’t copy and paste findings from one smartphone to another

•No advertising on the apps is preferred by our members

•Don’t replicate website in mobile

Property of Navy Federal Credit Union

MRID Member Research &

Intelligence Division

KEY IPHONE APP FINDING

10

iPhone users have certain expectations for what an App

should look like; don’t cram Windows into an iPhone App.

―Has everything I need to manage and locate.

Connection is easy. I’m sure more is to come in

future updates so I’m patient and hopeful but for

now I’m happy.‖

―It does what I want…The ability to check my account

on the go, but would like to see a couple of extra

things. 1) Web BillPay…Would be nice to have this

feature on the go. 2) iPad App…This was only built for

the iPhone…Please create an iPad version.‖

―Simple – just like mobile banking!‖

―sweeeeeeeeeeeet!!! bout d—n

time they got one!‖

Property of Navy Federal Credit Union

MRID Member Research &

Intelligence Division

KEY ANDROID APP FINDING

11

Screen sizes and phones vary; don’t assume that

everyone has the largest/latest version.

―This is a long time coming.‖

―This is very clean looking and easy

to use.‖

―This app offers more than what I

expected.‖

―The blue icon and background

makes me think of Navy Federal.‖

Property of Navy Federal Credit Union

MRID Member Research &

Intelligence Division

RESULTS: WHO ARE NAVY FEDERAL’S MOBILE BANKERS?

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Age Ranges Employment Status

Length of Membership

35-44 yr

22%

23-34 yr

38%

45-54 yr

11%

18-23 yr

26%

Non Wage Earner

7%

Active Duty

43%

Emp. Outside of Government

36%

Active DoD US Gov.

6%

Retired Still Emp

4%

Retired recv. annuity

2%

Reservist

1%

5-9 yr

25%

< 5 yr

38%

10-11 yr

14%

15-19 yr

11%

20-24 yr

7%

25 > yr

5%

12% of our members are signed up for Mobile Banking

Property of Navy Federal Credit Union

MRID Member Research &

Intelligence Division

RESULTS: IMPACT OF MOBILE BANKING ON ENGAGEMENT

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Description Online Only Mobile Member

Average # of Products 2 4

Average # of Accounts 3 5

Average Contribution $311.00 $620.00

Average # of Loans 1 2

Active Duty 25% 43%

Have DDNP 39% 86%

Have VISA Check Card 52% 95%

POS Usage 28% 81%

ATM Usage 14% 37%

Calls 5.5 avg per month 2.5 avg per month

Description Online Only Mobile Member

Average # of NFO Logins 5 24

Avg. POS $ amt per Member $308 $1236

Web Bill Pay User 10% 42%

4-5x’s

2-3x’s

Property of Navy Federal Credit Union

MRID Member Research &

Intelligence Division

IN CONCLUSION…

• Direct Consumer Input is An Absolute Requirement – Breaking the App Early is A Good Thing

– Opportunity to Learn/Add to Product to Make It Better

– Confirms The Good and The Bad

• Keeping Up With Our Competitors – Measured Adoption Pros and Cons

– Ensure Product Meets Consumer Needs/Demands

• Using Mobile for More

• Maturing Our Channel Strategy – Monitor Impact of Mobile on Brand Impression

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Property of Navy Federal Credit Union

MRID Member Research &

Intelligence Division

QUESTIONS

15

Presented at:

Market Research in the Mobile World 2nd International Conference | July 19 & 20, 2011 Atlanta

Organized by: Thank you to sponsors:

LinkedIn Group: Mobile MR

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