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Spotlight

UK Neobank Emerging Features Benchmark 2022

How the Top 4 UK Neobanks Rank on Key Mobile Banking Features

Report by Tiffani Montez  |  Nov 16, 2022
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Spotlight: UK Neobank Emerging Features Benchmark 2022: How the Top 4 UK Neobanks Rank on Key Mobile Banking Features
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Table of Contents
Executive Summary
Neobanks Need Innovative Mobile Features to Drive Profitable Relationships
Leading UK Neobanks in 2022
How Neobanks Performed in Key Mobile Banking Categories
Glossary
Read Next
Sources
Media Gallery
About This Report
This third annual study ranks the four largest UK neobanks by customers based on their support of 49 emerging mobile banking features, weighted by consumer demand for each feature.
Topics
Financial Services
Banking
United Kingdom
Table of Contents
Executive Summary
Neobanks Need Innovative Mobile Features to Drive Profitable Relationships
Leading UK Neobanks in 2022
How Neobanks Performed in Key Mobile Banking Categories
Glossary
Read Next
Sources
Media Gallery

Executive Summary

UK neobanks desperate to drive deposits as funding plummets must offer a superior experience on mobile—their customers’ primary channel. This third annual study analyzes 49 emerging mobile features across the top four UK neobanks’ apps to uncover which players are best aligned with consumer demand.

Key Question: What drives UK neobanks’ performance across each of the key categories of mobile banking emerging features?

The Top 5 Most In-Demand Mobile Banking Emerging Features in the UK, Aug 2022 (% of respondents calling the feature
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KEY STAT: For the first time, three of consumers’ five most in-demand features were in the Account Management category. Consumers want more transparency about account activity and more accessible debit card settings.

Here’s what’s in the full report

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Table of Contents

  1. Executive Summary
  2. Neobanks Need Innovative Mobile Features to Drive Profitable Relationships
  3. Leading UK Neobanks in 2022
  1. How Neobanks Performed in Key Mobile Banking Categories
  2. Glossary
  3. Read Next
  1. Sources
  2. Media Gallery

Charts in This Report

The Top 5 Most In-Demand Mobile Banking Emerging Features in the UK, Aug 2022 (% of respondents calling the feature "extremely valuable")UK Digital-Only Bank Account Holders, by Company, 2022-2026 (millions)
Overall Mobile App Rank and Score of the Top 4 UK Neobanks (rank out of 10, score out of 100*)Mobile App Rank of the Top 4 UK Neobanks, by Category (rank out of 10)
Security and Control Mobile Feature Rank and Score of the Top 4 UK Neobanks (rank out of 10, score out of 100*)Security and Control Mobile Features of the Top 4 UK Neobanks (% of respondents who called feature "extremely valuable")
Alerts Mobile Feature Rank and Score of the Top 4 UK Neobanks (rank out of 10, score out of 100*)Alerts Features of the Top 4 UK Neobanks (% of respondents who called feature "extremely valuable")
Account Management Mobile Feature Rank and Score of the Top 4 UK Neobanks (rank out of 10, score out of 100*)Account Management Features of the Top 4 UK Neobanks (% of respondents who called each feature "extremely valuable")
Digital Money Management Mobile Feature Rank and Score of the Top 4 UK Neobanks (rank out of 10, score out of 100*)Digital Money Management Features of the Top 4 UK Neobanks (% of respondents who called each feature "extremely valuable)
Customer Service Mobile Feature Rank and Score of the Top 4 UK Neobanks (rank out of 10, score out of 100*)Customer Service Features of the Top 4 UK Neobanks (% of respondents who called each feature "extremely valuable")
Transfers Mobile Feature Rank and Score of the Top 4 UK Neobanks (rank out of 10, score out of 100*)Transfers Features of the Top 4 UK Neobanks (% of respondents who called each feature "extremely valuable")
Neobank Specialties Mobile Feature Rank and Score of the Top 4 UK Neobanks (rank out of 10, score out of 100*)Neobank Specialty Features of the Top 4 UK Neobanks (% of respondents who called each feature "extremely valuable")
Glossary: UK Neobank Mobile Banking Emerging Features Benchmark 2022

authors

Tiffani Montez

Contributors

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