A new analysis of finance, fintech and crypto apps on the Google Play Store by SplitMetrics, has found that UK neobanks have surpassed UK legacy banks in terms of app downloads for the very first time ahead of the festive season, according to Finextra.
As it stands, UK neobanks have an estimated 71.78m Android users, 200k ahead of UK legacy banks with 71.58m users. In 2024 so far, UK neobanks have added an estimated 18.6m users, UK legacy banks 7.5m, European neobanks 2.9m and European legacy 8.4m.
The top five UK challenger bank apps in 2024 were Revolut (15.6m), Monzo (1.8m), Starling (463k), Virgin Money (242k) and First Direct (194k). The top five UK banks that added the most users in 2024 are Lloyds (1.2m), Barclays (1.1m), Halifax (1.0m), NatWest (912k) and HSBC (792k).
SplitMetrics’ study also found that trading apps have added almost 11m new Android users globally in 2024, surpassing the sector’s record year in 2022 with 7.5m. Collectively, the apps have reached 86m lifetime users, with UK headquartered apps at 22.8m, European apps at 9m and the rest of the world at 54.6m.
Banking 4.0 – „how was the experience for you”
„So many people are coming here to Bucharest, people that I see and interact on linkedin and now I get the change to meet them in person. It was like being to the Football World Cup but this was the World Cup on linkedin in payments and open banking.”
Many more interesting quotes in the video below:
