US Neobank Emerging Features Benchmark 2021

How the Top 4 Neobanks’ Mobile Apps Meet Customer Demand

Executive Summary

Neobanks’ breakneck customer growth poses an unavoidable threat for incumbents: The four largest US neobanks by user count will together boast approximately 34.0 million customers by 2025. This second annual study stacks up Aspiration, Chime, Current, and Varo, evaluating their mobile app capabilities based on consumer demand for 45 emerging features.


  1. What are the most important emerging mobile banking features that US neobanks and incumbents can offer?
  2. Which features do US consumers value most, both overall and within key customer segments?
  3. How do the top four US neobanks compare based on support for features that mobile banking users value most?

WHAT’S IN THIS REPORT? This benchmark highlights the most in-demand mobile banking features that an incumbent, fintech, or neobank can offer to attract, retain, or monetize users. It evaluates neobanks across seven categories and weights their scores according to the results from a survey of US mobile banking users. The findings pinpoint product development priorities for mobile banking.

KEY STAT: Three of the five most valuable features among the US mobile banking users we surveyed in September 2021 fall under the Security and Control category, underscoring the critical need for banks to offer safety-related tools.

Here’s what’s in the full report


Exportable files for easy reading, analysis and sharing.


Reliable data in simple displays for presentations and quick decision making.

Table of Contents

  1. Executive Summary
  2. Key Findings
  3. Introduction
  4. Leading US Neobanks in 2021
  5. Consumers' Most Valued Features in 2021
  6. No. 1: Security and Control
  1. No. 2: Account Management
  2. No. 3: Alerts
  3. No. 4: Transfers
  4. No. 5: Digital Money Management
  5. No. 6: Neobank Specialties
  6. No. 7: Customer Service
  1. Methodology
  2. Survey Demographics
  3. Appendix
  4. Read Next
  5. Sources
  6. Media Gallery

Charts in This Report

Access All Charts and Data

Gain access to reliable data presented in clear and intelligible displays for quick understanding and decision making on the most important topics related to your industry, included at no extra cost.


Tyler Brown, and Eleni Digalaki


Caitlin Cahalan
Researcher, Financial Services
Matthew Gaughan
Analyst Banking
Ona Koehler
Senior Director, Benchmarking
Na Li
Director, Primary Research
Greg Magana
Daniel Van Dyke
VP, Content

"Behind the Numbers" Podcast