Any digital banking app fans out there? Rhetorical question. We know for a fact there are millions. Based on our tireless tracking of the apps powering this sector, everyone’s getting in.
The latest PYMNTS Provider Ranking of Digital Banking Apps shows a field crackling with the kinesis of digital anywhere/anytime banking as it moves deeper into our new digital-first lives.
Bankers like it when you get to the point, so, in that businesslike spirit, here’s the new ranking.
The Top 5
Last time we met at in this space there was a two-way tie at the tip-top. That’s enlarged to a three-way race at No. 1 between the Chime app, the Nubank app, and now, rising a spot from last month, the No. 1 throne is also shared by Revolut and its new invoicing feature.
It gets better.
Blasting up three chart positions to crack the Top 5 this cycle is the Current app, which recently raised another $220 million. Welcome to the Top 5. There are snacks in the VIP lounge.
We hardly let one of these rankings go by without noting the cuteness of the Dave app logo. How’s this for cute: Dave rises one spot to land at No. 5, entering the Top 5 for the first time.
Welcome to the Top 5, Dave. Nothing bearish about that performance.
The Top 10
Continuing along, the N26 app elevates two chart positions to alight at No. 6 as it steadily rises.
Now for someone completely different, we welcome the KOHO Financial app which comes out of the wild blue yonder to snap up the No. 7 chart position. Bet nobody saw that coming.
Another gainer, up two spots to No. 8 from last cycle, is the Mashreq Neo app hailing from the United Arab Emirates and popular through the region.
Now for a tie at No. 9 as Empower holds its position from last month, to be joined this time at No. 9 by U.K.-based Wirex rising two spots, boosted no doubt by its new multicurrency Mastercard debit card for the U.K. and EEA, and a new rewards program to go with it.
Taking us out at No. 10 is Canada’s Tangerine app, down two spot from last cycle but still in the Top 10. Considering the fierce competition among them, all apps are to be congratulated.