The Nedbank Private Wealth app takes second place in the 2018 Mobile Apps for Wealth Management benchmarking report

Previously ranked seventh, we have been continuously expanding and improving our app, adding and streamlining features that contributed to the app’s leap to a joint second position in the 2018 edition of the Mobile Apps for Wealth Management benchmarking report. This report, conducted by international research firm Cutter Associates, is the outcome of in-depth research of 22 leading global wealth manager and private bank apps against 34 criteria. The criteria are divided into nine categories, including:

• core functions for clients;
• security and privacy;
• content and research;
• contact features;
• digital strategy and innovation;
• platform integration;
• exclusive features; and
• best practices.

Our strategy of continuously enhancing our app for clients has paid off

‘The essential characteristic shared by the top three wealth manager apps was the investment in implementing new technologies into their app suites − not simply reacting or following already-out-there trends, but constantly developing new features and solutions for their clients. Our work on continuously expanding our app’s set of features contributed to our leap into the top three this year,’ said Nedbank Private Wealth Head of Business Innovation, Andrew Westaway.

The Nedbank Private Wealth app received two best practice points in this year’s evaluation − the total possible

The first was for its unique take on client log-in and authentication and the second for the use of augmented reality (AR) features.

1. Single-sign-on authentication is an emerging trend in web and mobile development and by adopting it, ‘we have shown we can identify and adopt trends in these areas that will contribute to a more seamless customer experience,’ said Westaway.
2. The app has ATM/branch locators in the form of a list, a GPS-powered map and an AR feature. It uses the rear camera to show available ATMs and branches in the vicinity and further afield.

Both these features show that we are willing to push the envelope when it comes to trying out cutting edge technologies − a mark of an innovation leader.

Our app also received top points for platform integration

One feature that stood out in the evaluation was the demo version of the Nedbank Private Wealth app. Including this demo was considered an excellent choice on Nedbank’s part as it allows potential users to access and explore the main wealth and portfolio functions of the app.

The evolution of the Nedbank Private Wealth app since 2017 has been swift and client-centric by design

‘As you know, our app has already earned us praise due to its sleek design and wealth-specific features. But our changes to the app between 2017 and 2018 showed that we were able to provide constant client-centric innovation within our digital and mobile strategy − something considered necessary for a true digital leader,’ said Westaway in conclusion. 

Find out more about our app’s award-winning features and how to download it.