Javelin Strategy & Research announces 2022 Digital Banking Scorecard Award winners

Bank of America earns Best in Class in mobile and online banking for the sixth consecutive year

SAN FRANCISCO, CA (July 12, 2022) — Javelin Strategy & Research today announced the winners of its 2022 digital banking scorecards, which rank 20 of the top U.S. financial institutions for their digital capabilities.

Javelin’s Mobile Banking Scorecard and Online Banking Scorecard evaluated more than 440 digital banking capabilities across six evaluation categories–Ease of Use, Security Empowerment, Financial Fitness, Money Movement, Customer Service, and Account Opening. The rankings for each scorecard recognized a top finisher—the Best in Class designee—and two Overall Leaders. For the sixth consecutive year, Bank of America was named Best in Class in both channels. Chase and Wells Fargo ranked as Overall Leaders in the Online Banking Scorecard, and U.S. Bank and Truist earned Overall Leader recognition in the Mobile Banking Scorecard.

The 2022 digital banking scorecards provide strategic and tactical insights, including how to maximize engagement and sales from the homepage, create partnerships with customers to fight fraud, and strengthen enduring and profitable banking relationships. For example, the scorecards underscore the importance of simplifying experiences with search functionality, plugging gaps in the digital customer service continuum, and helping customers improve their financial fitness with aggregation, saving, investing, and credit-building features.

Mobile Banking Scorecard: Top-Ranked Banks Widen Their Lead

Bank of America (Best in Class), U.S. Bank and Truist (Overall Leaders) topped the leaderboard for Mobile Banking Scorecard awards. Bank of America and U.S. Bank widened their lead over the rest of the pack by finishing as leaders in all categories but one. Truist debuted in third place, showcasing an all-new app that emerged from the merger of BB&T and SunTrust. Four other banks–Navy Federal, Chase, USAA, and Wells Fargo–were recognized as leaders in at least one evaluation category.

“This consolidation of leadership at the top banks partly reflected budget-driven innovation—bigger banks have bigger budgets and tend to release more new functionality each year,” said Emmett Higdon, Director of Digital Banking at Javelin Strategy & Research. “This has dramatically increased pressure on smaller institutions to keep pace, both with the leaders and with customer expectations.”

Online Banking Scorecard: FIs Can Make a Mark with Focused Investments

This year, Bank of America (Best in Class), Chase and Wells Fargo (Overall Leaders) earned the top three spots in the online banking scorecard. Six other institutions—Citi, Huntington, Regions, Truist, USAA, and U.S. Bank—were recognized as leaders in at least one evaluation category.

“This broad range of online leadership reflects the choices that individual FIs made to target their budgets at the aspects of online banking they feel customers will value the most,” said Mark Schwanhausser, Director of Digital Banking at Javelin Strategy & Research. “Leading banks also benefited from innovative upgrades and industry consolidation that eliminated rivals.”

Javelin’s Mobile and Online Banking Scorecards are powerful tools for financial institutions of all sizes to benchmark and assess their acumen and performance against peers and competitors. To learn how Javelin’s scorecards and benchmarking programs can help elevate your organization’s digital expertise, contact:

About Javelin Strategy & Research

Javelin Strategy & Research, part of the Escalent family, helps its clients make informed decisions in a digital financial world. It provides strategic insights to financial institutions including banks, credit unions, brokerages and insurers, as well as payments companies, technology providers, fintechs and government agencies. Javelin’s independent insights result from a rigorous research process that assesses consumers, businesses, providers, and the transactions ecosystem. It conducts in-depth primary research studies to pinpoint dynamic risks and opportunities in digital banking, payments, fraud & security, lending, and wealth management. Learn more at


Teddy Wingert

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