Chase Mobile App Named #1 in J.D. Power Wealth Management Mobile App Satisfaction Study

Rhea-AI Summary

The Chase Mobile® app has been recognized as the #1 wealth management app in overall customer satisfaction, according to the J.D. Power 2020 study. Customer satisfaction increased by 18 points year-over-year, driven by enhanced features like unlimited commission-free trades and improved app navigation. Notably, account openings on J.P. Morgan's self-directed online platform surged over 400% during market volatility in March 2020. The app excelled in categories such as range of services and clarity of information, reflecting its significant impact on users' investing experiences.

Positive

• Chase Mobile app ranked #1 in wealth management app satisfaction.
• Customer satisfaction rose by 18 points YoY.
• Account openings on You Invest increased over 400% during March 2020 market volatility.
• Improvements in app navigation and features like unlimited commission-free trades.

Negative

• None.

NEW YORK--(BUSINESS WIRE)--The Chase Mobile® app was named the #1 wealth management app in overall customer satisfaction, according to the J.D. Power 2020 U.S. Wealth Management Mobile App Satisfaction Study.

The Chase Mobile app seamlessly integrates Chase banking and J.P. Morgan wealth management into one easy-to-use experience. Customers who invest with an advisor or on their own can trade, access research, and manage investments, bank accounts, credit cards, auto loans and mortgages conveniently from their mobile devices. Overall customer satisfaction jumped 18 points from the previous year, as the firm offered unlimited commission-free trades, made services like trading and transferring funds easier than ever, and improved navigation over the past year.

Customer account openings on J.P. Morgan’s self-directed online trading platform, You Invest surged more than 400% at the peak of the market volatility in March 2020 versus the daily January 2020 average, as more clients chose to take control of their investments with commission-free online trades.

In addition to overall satisfaction, the Chase Mobile app scored highest in the following categories:

1. Range of services (up 30 points Year-over-Year)
2. Clarity of information (up 19 points YoY)
3. Ease of navigating app (up 19 points YoY)
4. Appearance (up 13 points YoY)

“This is a big win to have our clients recognize that our app ranked #1 for mobile Wealth Management. Clients want investing made easy and to do it right from their phone. We think having J.P. Morgan investment capabilities and research right in your banking app is what makes us special,” said Kristin Lemkau, CEO of U.S. J.P. Morgan Wealth Management. “We are so proud of the mighty team in Digital Wealth management who worked so hard to make our clients’ mobile investing experience truly exceptional.”

Clients can see their You Invest self-directed account, robo-advised account, or accounts advised by a J.P. Morgan advisor in the same app as their banking accounts. They have access to unlimited, commission-free online stock and ETF trading, as well as options and mutual funds. Using the Chase Mobile app, both new and experienced investors have the ability to invest and grow their wealth over time. They can open an account and transfer funds in real-time. Clients have free access to J.P. Morgan’s award-winning¹ equity research, which covers over 1,200 U.S. companies to help them make informed investment decisions. Clients can also access the latest news on their portfolio companies, educational content and market commentary.

“Consumers want to manage their entire financial life from one place,” said Allison Beer, Head of Digital for Consumer & Community Banking at JPMorgan Chase. “We consistently enhance the Chase Mobile app to help our customers focus on what matters most to them. Our goal is to make it as easy as possible to bank and invest from virtually anywhere.”

In a few clicks, customers can do everything from pay bills, deposit a check using Chase QuickDeposit℠, send money swiftly with Chase QuickPay® with Zelle® or choose between managed portfolios or self-directed trades.

Serving nearly half of U.S. households, Chase is the biggest bank in the U.S. by assets, with over 40 million mobile active and roughly 55 million digitally active customers.

About J.P. Morgan Wealth Management

J.P. Morgan Wealth Management is the U.S. wealth management business of JPMorgan Chase & Co. (NYSE:JPM), a leading global financial services firm with assets of $3.2 trillion and operations worldwide. J.P. Morgan Wealth Management has ~4,000 advisors and ~$400 billion assets under supervision. Customers can choose how and where they want to invest. They can do it digitally, remotely, or in person by meeting with an advisor in one of our 3,500 Chase branches throughout the U.S., or scheduling a meeting with a J.P. Morgan Advisor in one of our 21 offices. For more information, go to www.jpmorganwealthmanagement.com.

About Chase

Chase is the U.S. consumer and commercial banking business of JPMorgan Chase & Co. (NYSE: JPM), a leading global financial services firm with assets of $3.2 trillion and operations worldwide. Chase serves nearly half of America’s households with a broad range of financial services, including personal banking, credit cards, mortgages, auto financing, investment advice, small business loans and payment processing. Customers can choose how and where they want to bank: More than 4,700 branches in 38 states and the District of Columbia, 16,000 ATMs, mobile, online and by phone. For more information, go to chase.com.

INVESTMENT AND INSURANCE PRODUCTS ARE: • NOT FDIC INSURED • NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY • NOT A DEPOSIT OR OTHER OBLIGATION OF, OR GUARANTEED BY, JPMORGAN CHASE BANK, N.A. OR ANY OF ITS AFFILIATES • SUBJECT TO INVESTMENT RISKS, INCLUDING POSSIBLE LOSS OF THE PRINCIPAL AMOUNT INVESTED

[1] Ranked #1 in Institutional Investor All-America Research Survey.