It’s getting more difficult to picture life before banking apps. To think we used to make an actual phone call — or (gasp) go to a branch and use an ATM just to check our balance.
How primitive it all seems now. Thank goodness we live here in the future, flying on AI-controlled jetpacks to our connected economy cloud condos, banking wherever we like — that is, as long as we’ve got an internet connection — using any of the following wonder-apps.
This edition of PYMNTS’ Digital Banking App Provider Ranking is chock full of changes — mostly small moves that can signify big goings-on elsewhere in the ecosystem. This is the world of international app-based banking, after all. The money is big, and the possibilities endless.
However, this ranking is not. Endless, we mean. In fact, let’s start now and see how fast it goes.
The Top Five
Were you wondering (as we were) how long a three-way tie for first place would last?
You can stop wondering, because it has narrowed to a two-way tie for No. 1, between the Chime app (where it’s been for many months) and, gaining a spot since last month, the challenger Nubank, moving up a spot to become an official No. 1 app. Nice.
The Revolut app stands resolute at No. 2. No change there.
Dropping one chart position to No. 3 this cycle is the Current app, now a fixture of the top five.
Monzo also falls a spot to No. 4 as it goes on its way to a possible $4.1 billion valuation.
Tumbling a spot but keeping that No. 5 position it’s Starling Bank, now expanding into Europe.
So, what about the top five hopefuls below the line?
The Top 10
Falling one spot and out of the top five is the Dave banking app. They can “bear” it.
Another one-spot drop finds Germany’s N26 app at No. 7. With the $800 million it raised in October we see this as one to watch, and we’re rarely wrong. (Except when we’re totally wrong.)
We play to win around here.
Enough with the ties already. Pick an app and stick with it, people.
Smushing together at No. 10 this cycle, we’ve got the Liv. UAE app sticking to the same chart position as last month, now met by a contender that’s been app-sent from this ranking lately. That would be the U.K.’s Monese, making a triumphant return to the top 10 at No. 10.
It’s been a thrill ride, but we don’t have to tell you that. Catch your breath, check your balance and know that the Digital Banking App Provider Ranking is here when you need it.