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Research Report - Mobile Apps for Banking 2016

Mobile Apps for Banking – Tech-Savvy Clients Let Down by Shortcomings

Sep. 14, 2016

The 5th Annual Report on Mobile Apps for Banking: Comprehensive, Data-Driven, Rigorous - incl. Apple Watch Apps!

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This 179-page report tells you all you need to know to develop, optimize and implement a winning banking app strategy. Our research team of technology and industry experts performed a detailed analysis of the strengths and weaknesses of the mobile apps of 35 leading retail banks worldwide, including Apple Watch apps where applicable. Six digital challenger banks were also included in the analysis. In total, 140 mobile apps were evaluated. Our report provides an assessment and recommendations for the mobile app offerings of each bank we evaluated and for the banking industry as a whole. 

>> Click here for Summary, Top 5 Ranking, Table of Contents

The report benchmarks the mobile apps offered by each bank based on 49 criteria grouped into nine main categories of evaluation: availability of mobile apps; core functions for customers; functional add-ons; security and privacy; content and features for marketing; contact options, technical features and support; strategy and navigation; and best practices. Based on this thorough, data-driven analysis, the report derives best practices and provides strategic and practical recommendations for creating mobile apps that can engage existing clients and attract new ones.

Banks, IT vendors and consultants will find answers to the following questions:

  • Which banks are at the forefront of mobile apps in retail banking and which ones are lagging behind? What are the characteristics, positive and negative, of the mobile apps offered by the world’s top 35 retail banks?

  • Which banks offer the best Apple Watch banking apps and what makes a good Apple Watch app? 

  • What does it take in 2016 to excite mobile banking clients? What content, functionality and security measures should a mobile app have?

  • How can you deal with increasing competition fueled by digital challenger banks and third-party personal financial management apps?

  • What can be learned from the best practices among the mobile apps that were analyzed?

  • How can you ensure that your core mobile banking app stands out from those of your competitors?

  • What future needs will clients have in respect of their mobile banking apps?

  • How do digital developments in other industries impact client expectations and what is required to keep pace with the latest trends? 

The report provides detailed data and analysis of the state and evolution of mobile apps for banking:

  • Benchmarking and ranking of the mobile applications of the 35 leading banks worldwide based on 49 criteria in nine main categories of evaluation

  • Assessment of the Apple Watch banking apps from 27 banks according to 11 criteria

  • 35 comprehensive profiles of app strategies and app portfolios of the world's leading banks, including recommendations for each bank

  • Six profiles of digital challenger banks’ mobile offerings

  • 16 Best Practices for the following features: payment solutions, financial knowledge, app development process, mortgage apps and tools, personal financial management tools, contact and advice ?

  • Recommendations on how a winning bank´s mobile applications strategy should look

  • Data-appendix containing 40 pages of detailed evaluations of 35 banks and six digital challenger banks according to 49 criteria (spreadsheet) plus assessments of the Apple Watch apps from 27 banks


Analysed and ranked mobile apps offerings

ANZ Citibank NAB UBS
Bank of Amercia Commerzbank Nationwide UniCredit
Credit Suisse NatWest Wells Fargo
BBVA Danske Bank PNC Westpac
Bank of Montreal DBS Bank RBC  
BNP Paribas Deutsche Bank Santander  
Caisse d'Epargne First National Bank Société Générale  
Capital One
HSBC Standard Chartered  
Chase ING TD Bank  


Analysed digital challenger banks

Monzo by Mondo N26  
digibank! by DBS  Monese Simple  


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