Optima Consultancy, in partnership with Visa, publishes its inaugural “Mobile Banking App Review” at Money 2020 Europe and crowns Starling Bank the best banking app.
The study includes;
Mark O’Keefe, Optima’s founder, said:
“The findings of our study highlight the widening gap between incumbent providers and new challengers, laying out best practice and delivering lessons learned along the way”
Barry Porter, Executive Director at Visa said:
“We're delighted to lend our support to Optima's comprehensive study into the UK mobile banking app landscape in 2018. It provides a great insight into the evolving ecosystem and valuable lessons for both established and new players.”
Julian Sawyer, chief operating officer of Starling Bank, said:
“We built the Starling Bank app from scratch, unburdened by legacy IT. We designed it around user needs. The result is an app that delivers a superior experience and is a delight for customers to use, as this report shows.”
About Optima Consultancy
Established in 2007, Optima Consultancy has grown as a specialist payments consultancy practice, based in Manchester, UK but working across the globe. They have a deep understanding of the payment ecosystem and are fortunate to work with some of the biggest brands in the value chain, including: Issuers, Acquirers, Payment networks, PSPs, Retailers and Mobile operators.
For more information, and to download the full report visit;
Visa Inc. (NYSE:V) is the world’s leader in digital payments. Our mission is to connect the world through the most innovative, reliable and secure payment network - enabling individuals, businesses and economies to thrive. Our advanced global processing network, VisaNet, provides secure and reliable payments around the world, and is capable of handling more than 65,000 transaction messages a second. The company’s relentless focus on innovation is a catalyst for the rapid growth of connected commerce on any device, and a driving force behind the dream of a cashless future for everyone, everywhere. As the world moves from analog to digital, Visa is applying our brand, products, people, network and scale to reshape the future of commerce. For more information, visit our website (www.visaeurope.com), the Visa Vision blog (vision.visaeurope.com), and @VisaNewsEurope.
About Starling Bank
Starling is a completely different kind of bank disrupting the financial services industry. Founded in 2014 by Anne Boden, former chief operating officer of Allied Irish Banks, it was granted a banking licence by the Bank of England in July 2016 and launched its first mobile-only personal current account in May 2017 available as a mobile app for both iOS and Android phones. It followed this with the UK’s first digital-only business bank account in March 2018. Based in London, Starling received £48 million ($70 million) of investment at the beginning of 2016.
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Having shared with industry leaders highlights of the study in Amsterdam, Optima has today announced the full publication of the mobile bank app study, available free to download.
The top three mobile banking apps are dominated by the challenger brands with Starling Bank rated number one. Upper quartile performance in each of the six categories assessed, it leads the market for app interaction, technology supported and security features.
In today’s fast-moving world banking customers want, and expect, the best possible service and functionality from their banks quite literally in the palm of their hand. The motivation behind Optima’s study is to track and measure digital transformation in UK banking and understand how innovations in technology are being utilised by providers to present a more exciting and seamless banking experience for customers, as well as acting as a barometer for market success.
It provides a realistic assessment of the UK mobile banking app landscape by scoring and ranking apps based on quantitative data, user testing and overall evaluation of mobile apps. This includes an assessment of the customers’ ability to open an account, manage their account, make payments, interact with their bank and manage their day-to-day spending.
Manchester, United Kingdom – 12th June 2018 – Optima Consultancy today announces the full publication of its Mobile Banking App Review 2018, a comprehensive benchmark study of UK mobile banking apps, in partnership with Visa.