Financial institution BBVA Compass has revamped its Android application with features such as graphs and charts that let clients break down their bank accounts.

The updated BBVA Compass app is available for free download in Google Play. In addition to the Android version, the app is also available for iPad, iPhone and BlackBerry devices.

“Mobile is a key strategic channel for BBVA Compass, and as such, we have an ambitious plan to have the best mobile apps for our customers,” said Alex Carriles, director of mobile banking strategy and retail innovation BBVA Compass, Birmingham, AL.

“We have listened to our customers and added features and functionality they have requested, and some other things that have not been seen in the market before,” he said.

Charting growth
The updated BBVA Compass Android app follows similar updates that were made to the company’s iPhone app in March.

Via the updated BBVA Compass Android app, users can view pie charts and graphs to view balances and bill payments. The charts show users how their accounts are split up.

Additionally, clients can view check images and enroll for BBVA Compass mobile services from inside the app.

According to the company, the app will be frequently updated in the next year with new services. Keeping an app fresh is an especially important feature for a banking app that consumers are most likely using frequently to access information.

Users can also still view their accounts, transfer money, pay bills and find a BBVA Compass branch location.

Bank on mobile
Many banks have recently been rolling out features similar to BBVA Compass to give users a more sophisticated, comprehensive mobile banking experience.

For instance, Wells Fargo launched person-to-person transfers to all of its mobile and Web banking services in May to help clients connect with each other (see story).

As mobile banking becomes more mainstream with consumers, users have growing expectations for what they can do via their handsets – simply being able to only view account history is a thing of the past.

The challenge for financial institutions will be finding a way to continually keep adding new features and content that will eventually put online and mobile banking on the same level.

“One of our goals is to improve the customer experience – for that reason, we have redesigned our apps to make them easier to use, provide useful functionality, with a simple to use app and with a beautiful, even fun interface,” Mr. Carriles said.

“Also the need of our users are evolving, and therefore the mobile apps should be evolving too,” he said.

“It comes down to this:  When customers enjoy using an app, they will use it more frequently and make it their own.”

Final Take
Lauren Johnson is editorial assistant on Mobile Commerce Daily, New York