The consumer-bank relationship has been changing for a very long time.
Branch proximity stopped being the top priority in 2017, replaced by digital service quality. Today, 77% of day-to-day banking takes place via digital channels.
Somewhere along the way, customer expectations have shifted, too.
The modern banking consumer is increasingly open to having a relationship with their bank that isn't purely transactional: a broader proposition that supports more of their needs. Which is why the concept of "superapps" — apps that, alongside money, enable users to also manage other aspects of their day-to-day lives — is gaining appeal.
So which digital banking apps are closest to becoming superapps? And what do the areas they've chosen to expand into tell us about their broader strategic ambitions?
Here's what the latest data from our digital banking research app FinTech Insights tells us.