Digital Banking

Digital Banks Solid In Latest Provider Rankings

mobile banking app

App-based digital challenger banks have been solidifying and expanding customer bases ever since COVID came to town. And while PYMNTS’ latest Provider Ranking of Digital Banking Apps shows consistency at the top, brands are vying for position in the new digital banking boom.

The Top 5

Endurance is a word that could describe the latest Provider Ranking of Digital Banking Apps Top Five. Connected banking brand Chime retains its No. 1 chart position, with Latin American FinTech NuBank holding fast at the No. 2 spot. One surprise in the latest ranking is the trading of chart positions by the Revolut banking platform — now at No. 3 — and U.K.-based rival Monzo, currently ranked No. 4. Completing the Top Five again is the Starling Bank digital app.

The Top 10

There’s also action outside the Top Five in the latest Provider Ranking of Digital Banking Apps, with Germany’s N26 grabbing the No. 6 spot on the chart, followed at No. 7 by Ally Bank.

Rounding out the Top 10 in the latest ranking are innovative neobank Monese at No. 8, startup Pepper at No. 9 and, at No. 10, Mashreq Neo, the mobile banking app proffered by the oldest privately-owned bank in the United Arab Emirates.

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New PYMNTS Report: The CFO’s Guide To Digitizing B2B Payments – August 2020 

The CFO’s Guide To Digitizing B2B Payments, a PYMNTS and Comdata collaboration, examines how companies are updating their AP approaches to protect their cash flows, support their vendors and enable their financial departments to operate remotely.

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