Android phones have skyrocketed market share in the
smartphone market. In the US, Android boosted its market share from
36.4% to 41.8% in only 3 months until July 2011, compared with 26%
to 27% for iPhone, according to data from Comscore. Asian and
European banks seem to have realised this trend ahead of their US
counterparts.
Go deeper with GlobalData
Mobile banking is growing fast and banks are slowly looking
beyond the iPhone to serve more customers through new mobile
applications. State Bank of India makes the top of the list in
terms of application downloads, with an unspecified number
somewhere between 100,000 and 500,000 downloads in just30 days.
SBI offers a comprehensive array of
services such as fund transfers, enquiry services, account
services, bill payment, mobile top-up and m-commerce. With an
average rating of 3.7 out of 956 reviews, it is not the best
application out there, but of reasonable quality.
NatWest makes the second rank,
offering balance enquiry, money transfers between own accounts, ATM
and branch locator, and mobile phone top-up.
Maybank comes in as third, offering
the most comprehensive suite of services, spanning account
management, including balance enquiries for savings, current,
credit/debit cards, online banking history, card payment history.
Moreover, fund transfers to own accounts, registered third party
accounts and interbank GIRO; bill payment to registered accounts,
own cards, and registered third party cards; mobile top-up as well
as forex rates, a loan calculator and contacts.
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By GlobalDataAsian and European Banks clearly
lead the field in terms of Android adoption. 11 out of 25 banks
come from Asia-Pacific, with two making it into the top three.
Europe follows with nine banks in the top 25, spearheaded by UK
banks. Three UK banks make it into the top five. US banks score
very low for Android phones, with only JP Morgan Chase and Amex
making it into the top 25.
UK and Singapore have the most
banks in the top 25 with five and four representatives
respectively. Given that this is by number of downloads, it is
interesting that Singapore with only a population of 5m and the
highest iPhone market share in world, scores that high in the
Android ranking.
Not a bank, but payments provider
and therefore not included in our ranking, PayPal comes second
right after State Bank of India’s tool when looking at all Android
financial tools.
The PayPal tool allows to send
money as a gift, split the bill, or repay a friend for free.
Moreover it offers free check scanning by taking a picture with the
phone to add money directly from the app. With NFC enabled phones
customers can even request money.
Users can type in a specific amount
of money and tap their phones together. Both will instantly receive
a notification about the transfer, at which point they just need to
enter their PayPal password to finalise the transaction.
Only one banking app was to be found in the paid category, while
all other banks offer their app for free. Germany’s Sparkasse, a
public bank, was able to charge $0.9, and still achieve 50,000 to
100,000 downloads in the last 30 days. Public banks in Germany are
represented through the Association of German Public Sector Banks
and account for 40% of German assets.
