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.
3 KEY QUESTIONS THIS REPORT WILL ANSWER
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.
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