A comprehensive report has been published that examines the status of mobile banking apps in the UK, and establishes a view of which ones are pulling ahead. It’s comprehensive in that it looks at everything, from time to open an account to features, security, pace of development/release cycles, etc. It also looks ahead at what customers can expect in future:
I won’t spoil the surprise, except to say that Monzo come out looking very good - though the report was compiled before Apple Pay was launched, and this has impacted their ranking. Those who have less time or only want the summary can read the executive summary on pages 4-6 and conclusions on page 41.
Key features already considered MVP include TouchID logon, real-time balances, transaction data insights, card control and wallet pay solutions
Based on app ratings and feedback, Optima predict the following features are the next to become de-facto MVP: instant chat, budget management solutions, saving pot, marketplace and personal voice assistants.
Here’s an example of the level of detail into which the report goes: