Mobile banking and payment apps are experiencing massive global growth. In this report, we turn our attention to Europe where users aren’t just checking their bank balances — they’re making membership decisions based on a bank’s mobile experience. With £2.9 billion in wire transfers a week taking place in the UK alone, there’s a lot at stake — but also massive potential for retail banks investing in mobile development. Our latest report, Mobile Banking Apps in Europe: What Consumers Want, is a must-read for European banks considering launching apps in new European markets. Below is what you can learn from our free report: -The top retail banking apps in the United Kingdom, France and Germany -‘Must-have’ app features for key European markets (e.g., in-app messaging with advisors) -Strategies top retail banks are using to target and retain new users (particularly younger demographics who are most likely to switch banks)

1. Mobile Banking Apps
in Europe:
What Consumers Want
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2.
Table of Contents
1. Introduction
2. The UK Sets the Pace for European Mobile Banking
3. Barclays Leads UK Mobile Banking
4. Apps Drive Customer Relationships in France
5. Security Tops Germany’s Banking Criteria
6. Summary
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3.
Mobile Banking Apps in Europe: What Consumers Want
1. Introduction
Mobile devices are transforming the banking and payments landscape. In March 2015, banking
apps in the United Kingdom saw ​almost 10% more daily logins​ than online banking according to
the British Bankers’ Association. With Apple’s WWDC 2015 announcement that Apple Pay is
coming to the UK in July, mobile payments have become a key focus for the industry in Europe.
Banking apps already account for​ ​£2.9 billion in transfers a week​ in the​ UK​ alone, though as
new opportunities grow, new competitors are also rising. In particular, messaging apps are
making a play for millennials, with Facebook’s ​addition of payments to ​Facebook Messenger
and Snapchat’s ​introduction of Snapcash​ likely to move outside the United States soon. Mobile
payments are shaping up to be huge, and everyone wants a piece of the action. Retail banks
are no exception, and many have partnered with these new technologies or introduced payment
apps of their own.
For retail banks, however, the importance of apps extends beyond facilitating mobile payments.
Providing a positive mobile experience is key to retaining and building a customer base,
particularly in younger age demographics. A ​recent survey​ showed that more than a quarter of
customers who changed banks in the previous 12 months did so for a better mobile banking
experience. As mobile has become the latest front in the battle for bank customers, we took a
close look at retail banking apps across Western Europe’s three biggest app markets – the UK,
Germany and France.
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4.
Mobile Banking Apps in Europe: What Consumers Want
2. The UK Sets the Pace in European
Mobile Banking
In Q1 2015, downloads of the top 10 retail banking apps in the UK were almost twice as high as
those in France and approximately three times as high as downloads of Germany’s leading
retail banking apps. In comparison, the overall market for combined iOS and Google Play
downloads in Germany was around 10% larger than France and around 15% behind the UK in
the same period. The UK, therefore, sees a relatively high rate of banking app downloads for its
market size, while Germany trails in this sector. Assuming the success of UK banks can be
replicated, there is a sizeable opportunity for those that win the battle for app users in France
and Germany.
Demand for top consumer banking apps in the UK was considerably higher than in its European
neighbors.
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5.
Mobile Banking Apps in Europe: What Consumers Want
A number of cross­company innovations indicate that UK banks have embraced mobile as a key
component of their retail strategies. ​Paym​, launched in April 2014, simplifies P2P payments by
allowing account holders from most of the UK’s biggest banks to link their mobile phone
numbers to bank accounts. Payments can then be made to contacts or phone numbers from
within each bank’s app. ​Zapp​, set to launch later this year with the backing of a number of major
UK banks, will allow real­time consumer­to­merchant payments at the point of sale without
revealing credit card details. As payments will occur directly through bank apps, it is also vital for
UK banks to continue to drive app installs in the short term.
In all three markets we looked at, the iOS App Store accounted for a higher proportion of
downloads of the top 10 retail banking apps than in the overall combined market, which may
stem from the user demographics of the different operating systems, or possibly a result of the
perception of higher security on iOS devices.
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6.
Mobile Banking Apps in Europe: What Consumers Want
3. Barclays Leads UK Mobile Banking
Barclays published three of the top 10 retail banking apps in the UK in Q1 2015, and has been
responsible for a number of innovations in the UK mobile banking market. In 2012, it introduced
Pingit​, allowing P2P payments through mobile devices years before the Paym standard was
introduced. In March 2015, ​Pingit​ broke further ground by adding payment functionality through
linked Twitter accounts​. It also remains the only app in the top 10 UK retail banking apps to
support customers who are not existing customers of the bank. Outside of ​Pingit​, ​Barclays
Mobile Banking​ adds innovative features on top of standard banking app tasks, including free
and easily accessible secure document storage through Barclays Cloudit, and allowing users to
connect with customer service directly through the app.
Innovative app features have been a key component of customer retention strategies for many
top UK banks. The need for a frictionless mobile experience has led to a drive for simple yet
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