⚡️ Neobanks in the UK 🇬🇧: record app downloads surpass traditional banks

⚡️ Neobanks in the UK 🇬🇧: record app downloads surpass traditional banks

Traditional banks are falling behind. According to SplitMetrics, a recent analysis of financial, fintech, and cryptocurrency apps on Google Play reveals that neobanks are continuing to dominate, especially as the holiday season approaches 🧑‍🎄.

➡️ Neobanks in the UK now have approximately 71.78 million Android users, 200,000 more than traditional banks.

➡️ In 2024, UK neobanks gained approximately 18.6 million users, compared to just 7.5 million for traditional banks — a significant gap.

➡️ Top 5 apps in 2024:

1️⃣ Revolut (15.6 million users).
2️⃣ Monzo (1.8 million).
3️⃣ Starling (463,000).
4️⃣ Virgin Money (242,000).
5️⃣ First Direct (194,000).

➡️ In comparison: The top 5 traditional banks in the UK by new users in 2024 were:

1️⃣ Lloyds (1.2 million).
2️⃣ Barclays (1.1 million).
3️⃣ Halifax (1.0 million).
4️⃣ NatWest (912,000).
5️⃣ HSBC (792,000).

➡️e Additionally, SplitMetrics reported that in 2024, global trading apps gained nearly 11 million new Android users, surpassing the previous record of 7.5 million set in 2022.

➡️ In the financial management category, the UK gained 1.1 million new Android users, with leading apps such as:

🔵 Plum (357,000)
🔵 Moneybox (299,000)
🔵 Snoop (171,000)
🔵 HypeJar (133,000)
🔵 Emma (83,000)

#news #Europe #fintech

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