Citibank Tops Online Bank Scorecard

For the second consecutive quarter, Citibank tops Watchfire GomezPro's ranking of online banks.

Topping the Q2 2004 scorecard for online banks in Watchfire GómezPros rating scheme is Citibank for the second consecutive quarter.

Thanks to a recent redesign, Charter One came in second overall with Bank of America and Wells Fargos online banking sites ranking third and fourth.

Released twice a year, the Watchfire GómezPro Internet Banker Scorecard evaluates U.S. retail banks on the value their online offerings provide consumer-banking customers. The scorecards measure the quality of online financial services offerings, evaluating factors such as ease of use, customer confidence, onsite resources, relationship services, and overall cost.

"What sets Citibank apart is the wealth of content and services available to customers online," said Chris Musto, vice president of research, Watchfire GómezPro. "As well, improved online help and demonstration features make it more convenient and easier for customers to use the site. But the Scorecard results also suggest that other banks, such as E*Trade, Charter One and Bank of America, may have an edge on Citibank in offering an easy-to-use site. As these and other banks continue to enhance their sites content and functionality, it will be challenging for Citibank to maintain its number one position."

Key highlights of the Q2 2004 Banker Scorecard include evaluations of site re-designs and enhancements as banks continue to differentiate according to their business models. In addition, banks are making it easier to apply online.

Read the Watchfire GomezPro scorecard and reviews of 30 online banks.