We like the action, of which there is no shortage in the digital banking space. Legacy names and newcomers alike are ranging freely across the forming digital banking landscape, with digital anywhere access portals in their pockets — the smartphone.
Looking to the latest PYMNTS Provider Ranking of Digital Banking Apps we find certain names getting chummy with certain chart positions, but will it last? That’s up to the increasingly digital-first consumers pouring their financial lives into apps for the magic they can perform.
The Top 5
From the top it’s challenger bank Chime at No. 1 where it’s been for months, followed by LATAM mobile card app sensation Nubank at No. 2, and winner of most adorable logo Dave settling into the No. 3 spot, at least for now. So far, no change, right? Patience, app folk.
At No. 4 this month is Monzo, gaining one chart position and boasting a new $1.6 billion valuation. Dropping one spot and remaining in the Top 5 of our Provider Ranking of Digital Banking Apps is digital platform and app Revolut grabbing the No. 5 spot.
The Top 10
We often see a bit more jockeying in the second half of the Top 10, but not so this time.
At No. 6 is the Current mobile banking app, with Starling Bank steady at No. 7 as the digital bank considers an IPO of its own. No change either at No. 8 with the N26 app, which just added subscription management tools. Staying put for now at No. 9 is the Empower with its focus on millennials.
Ready for the only change? It’s the app of U.K.-based IBAN specialist Monese, entering PYMNTS Provider Ranking of Digital Banking Apps Top 10 at No. 10.
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