Most popular mobile banking apps in select European countries 2018

As of March 2018, the UK headquartered Barclays mobile banking app had the highest traffic of banking apps in Europe with 7 million unique visitors. On a wider scale the Russian bank Sberbank reportedly had over 30 million individuals using their mobile app. In Germany, approximately 33 million individuals use online banking, with a digital population of around 60 percent using online banking services.

Rise of online only banks

Online only banks otherwise known as disruptor banks have been making a big splash over the last few years in what was once an incumbent and stagnant market. The UK founded online only bank Revolut, which was launched in July 2015 is estimated to have approximately 9 million customers by the end of 2020. Investors are also showing huge confidence in disruptors with the German bank N26 receiving over half a billion U.S. dollars in funding as of January 2019.

Some banks embrace disruptors

Compared to several other European banks, Banco Santander Group have been preparing themselves for the digital revolution. Through acquisition, investment and mergers the Spanish bank have embraced FinTech companies more than any other of Europe’s leading banks. To find out more about the European banking sector and the rise of online only banks you can read the DossierPlus report.