Keynote Competitive Research, the industry analysis group of Keynote Systems (News - Alert), has recently revealed the expanded 2012 Keynote Mobile Banking Scorecard results.

Officials said that the Scorecard was first launched in 2011, as a benchmarking standard for the financial and mobile banking industry. 

The latest Scorecard measures and ranks 15 large retail banks in the United States based on an expanded list of more than 100 criteria in four main categories: functionality, ease of use, privacy and security and quality and availability.

In order to collect vital Scorecard data, a team of Keynote analysts follow a rigorous research process that includes interviewing and surveying Scorecard companies, opening accounts with firms for direct website examination, and conducting automated site analysis.

Bank of America, BB&T, Capital One, Chase, Citibank, Citizens, Fifth Third, ING Direct, KeyBank, PNC (News - Alert) Bank, Regions, SunTrust, TD Bank, U.S. Bank and Wells Fargo are some of the banks that have been evaluated for the 2012 Keynote Mobile Banking Scorecard.

As per the Q1 2012 Scorecard, Chase took the top honors in six categories, including first for overall score. Wells Fargo (News - Alert) placed second overall, with Bank of America coming in third.

The research also indicated that there are critical improvements that are still needed within the mobile banking industry.

Among other findings, 14 of the banks offer banking on iPhone (News - Alert) apps, while only 13 offer mobile Web banking. In addition, only seven banks offer mobile banking through SMS, mobile Web and apps for the full range of iPhone, Android and BlackBerry (News - Alert) operating systems.

"As we continue expanding the scorecard to reflect a greater population of mobile users it remains clear that mobile banking is still in its infancy," said Chris Musto, general manager of Keynote’s competitive research group, in a press release.

He further added, "Several key elements desired by consumers—from mobile check deposit to interactive alerts—are still on the drawing board at most banks, along with efforts to realize the potential of smartphones to facilitate payments.”