New Digital Banking App Provider Ranking Shows Who’s Boss — and Who’s Tossed

Monzo App

We meet regularly in this space to sort out the rising and falling of digital banking apps, because it’s important to global commerce — and besides, it’s our job. We like getting paid.

And isn’t that at the heart of PYMNTS’ Provider Ranking of Digital Banking Apps? Getting paid, then enjoying all manner of experiences that only digital banking delivers? And this ranking never fails to put us in a tizzy, either because of no changes or rampant changes.

Good thing it’s all digital. Makes the job a tad bit easier. Not that it’s easy.

Read on and you’ll see what we mean.

The Top Five

People have a hard time deciding which banking apps they like best, which helps explain the tied scores that make this ranking unlike any other we produce. And we produce a lot of them.

We’ll get to the ties in a minute. First (and we do mean first), we’ve got a clear No. 1 this time out, and it’s Chime, breaking from the pack and taking the top spot for itself.

Now we can start with the tied scores. All coming in at No. 2 this cycle (and each dropping one chart position in the process) are Current, Nubank and Revolut, crowding up near the top.

That’s what a difference of two points will do to an otherwise stellar grouping.

At No. 3, it’s Monzo, moving into household budgeting and bill pay of late.

The Starling Bank app takes No. 4, and drops one spot to do so. They’re expanding into Europe.

With claws dug in at No. 5, it’s the Dave app — also down a spot, but being a total bear.

The Top 10

Moving below the top five, we encounter another three-way tie.

All jammed up at No. 6 this cycle are Mashreq Neo (no change…they were already there), along with Germany’s N26 app (down a spot) wedged in there with Tangerine — rising to the occasion, you might say, by climbing a spot since last cycle.

But are they happy? Most likely, yes. Digital banking is a great business.

Up a spot since the last cycle to No. 7, it’s the Empower app. Feel all the empowerment?

Another gainer at No. 8 is the Pepper app from Leumi Group. This app only entered the rankings a month or two ago, and now there’s no stopping them.

Tumbling three chart positions since last we met, it’s KOHO taking No. 9. They’ve been up and down, but never out. That’s the sure sign of a winner.

Taking us out of this Provider Ranking of Digital Banking Apps at No. 10, it’s the Liv. UAE app, falling one spot but staying very much in the running.

Whoever said “banking is dull” clearly lived before the age of apps.