The use of mobile banking apps has grown by 4% in the last year
MADRID, 8 Nov. (EUROPA PRESS) -
BBVA leads the classification of the five mobile banking applications with the best performance in Spain, with a score of 85.87 out of 100, while CaixaBank follows closely with 83.67 points, according to the MPIx index (Mobile Performance Index) carried out by Smartme Analytics, which measures the performance of the most used apps in the mobile channel.
In addition, this financial institution has the largest market share in the sector (27%), closely followed by the CaixaBank app (26%), while Imagin (a subsidiary of CaixaBank) is the preferred one among users between 18 and 24 years old (10.4%), a group of users that continues to increase the use of financial applications.
The MPIx index monitors more than 90 financial applications in real time to compile a quarterly list of the best applications for traditional banking, neobanking, consumer loans, fintechs and mobile payments.
Furthermore, in this edition the company places special focus on the use of the applications of the main neobanks (digital or virtual bank) to deepen and extract relevant data on the behavioral profile of its users, as well as their preferences by age group or gender. .
In the analysis of the third quarter of 2023, BBVA obtains the best performance score compared to its competitors, with 85.87 out of 100.
In second position is CaixaBank, with a score of 83.67; in third, Banco Santander, with 69.24 points; in fourth place, ING (58.89) and in fifth, Imagin (58.13).
Looking strictly at the market share of these mobile applications, the positions are practically repeated with BBVA and CaixaBank once again leading the top 5, with 27% and 26% respectively.
In this case, ING rises to third place, with 19%, and Santander falls to fourth place, with 15%. The Imagin table closes again with 13%.
The general penetration of financial applications in Spain has maintained an upward trend since the summer of 2022, with an accumulated growth of 4%, but has suffered a slight decrease of 0.7% in the third quarter of 2023 because in the months of July, August and September usually reduce the use of finance apps.
Smartme Analytics data also reveals that Spanish users prefer to check their banking details at the beginning of the week, with Tuesdays, Mondays and Wednesdays being the most common days in descending order.
Regarding the hours, Spaniards normally prefer the morning until well after noon. The hours between 10 a.m. and 2 p.m. are preferred to concentrate on personal finance management.
Furthermore, Spaniards invest 68 minutes of average monthly time using this type of application, divided between three different banking applications per user.
The report reveals parity in the percentage of penetration of banking apps between female users (51%) and male users (49%), an equality that is repeated in terms of the average age, which is 41 years in both cases, as well as by the preference of use among the five applications that lead the classification.
By age groups, the entity preferred by the youngest (18-24 years old) is Banco Santander, with 20.4% penetration, while other entities with a shorter history in the financial world are the favorites of the rest of the age groups. Revolut is the choice of millennials (20.2%) and ING is the choice of generation X.
Among customers of mobile banking applications, there is also a generational bias regarding the use of social networks, since there is greater activity on platforms such as Facebook (89%) or Instagram (80%) and the use of TikTok is lower (56%). %) or Twitch (8%).
Smartme Analytics also has usage data from applications in the neobanking subsector, the new generation of financial entities that offer banking services exclusively in a 100% digital manner.
In this sector, the applications that have the highest penetration are Imagin (10.4%), Revolut (9.4%), Openbank (8%), N26 (4.2%), Rebellion (3.6%) and Bnext (1.1%), with a slight growth trend in Revolut and Openbank compared to the rest.
Imagin is well above the rest of the applications among those age groups under 35, although it is growing in all groups. Its percentage of use is 34.8% among generation Z and 24.3% among millennials. For its part, Revolut competes for generation X (10.8%), while Openbank triumphs among those over 45 years of age (10.1%).
Taking into account the crossover audiences of these six applications with other digital banking entities, the fact that Imagin shares an audience mainly with CaixaBank stands out, followed with considerable advantage by BBVA and Google Pay, the latter being the preferred payment system over the of the group itself.
In the case of Revolut, Google Pay is the application with which it shares the most users as it is conditioned by mobile payments