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The Great British Bank Off: UK's Top Mobile Banking Apps Revealed


Posted Mar 24, 2015 by prping
A year is a long time in banking, so we've taken a look at how the top personal UK banking apps have fared in the last 12 months by assessing their customer reviews across Android and iPhone.
 

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Pressnews.biz (Press Release) Mar 24, 2015 -- Berkshire, UK, March 24, 2015 /PressReleasePing/ - A year is a long time in banking, so we've taken a look at how the top personal UK banking apps have fared in the last 12 months by assessing their customer reviews across Android and iPhone. We've looked at the total volume of reviews, the volume of 1,2,3,4 and 5 star reviews, what they represent as a percentage of total reviews as well as how this places them compared to the competition.

We have previously reviewed the FTSE 100 apps using feedback as an indication of customer satisfaction however we only reviewed iPhone apps. This time the assessment also includes Android and much like the previous report, we've looked at customers who have been prepared to say something, rather than those who have simply rated the app. It's much easier to rate an app, therefore it's also much easier to encourage (pay) someone to rate it so reviews are a far better indication of how customers genuinely feel.

The best UK Banking app is Lloyds Bank Mobile Banking

This isn't just a fluke on Lloyds' behalf however, as they also have the second best reviewed iPhone app which is an impressive feat. Android customers are a less happy bunch in general and getting it right across both platforms is a strong measure of how good an app is. If you add that Lloyds managed to garner reviews from over 10,000 Android customers in the last 12 months, nearly twice as many as from iPhone customers this adds more weight to their justified position as the best liked UK banking app.

The second best liked app across both platforms is the Bank of Scotland

This itself shouldn't be a surprise. It might have more than 12 times fewer reviews than the Lloyds app but it's published from the same Lloyds Banking Group account, and for all intents and purposes is the same app. This on its own is very interesting because with very little technical difference between the apps, only brand perception, customer engagement and service related issues could result in customers reviewing it less favourably. The Bank of Scotland Android app has the second highest percentage of 5 star reviews overall, however, it still more than 6,000 less than Lloyds.

Third place on our list, completing the Lloyds Banking Group hat-trick, is Halifax Mobile Banking

It's fair to say that the top three apps on this list are all basically the same app but painted with different colours. The Halifax Android app only came out 5th in this review but this can be explained by closer analysis of some of the reviews, it's likely that some of the negativity has come from customers who have rated the app without updating to the latest version

What else did we discover?

First Direct has the most disliked iPhone app

First Direct, despite being awarded best banking brand 2014 by Which Magazine, has the most disliked iPhone app. Nearly 60% of its reviews are just 1 star. The Android app isn't especially well liked either coming 4th place in the worst reviewed Android apps. To add to the iPhone app's misery it also has the fewest 5 star reviews, not only making it the most disliked, but the least liked as well. The FD Android app has the lowest current star rating of all the Android & iPhone apps further justifying its place at the bottom of the list.

Barclays has the most disliked Android app

Narrowly avoiding the accolade of having the least liked Android and iPhone apps by virtue of the iPhone app finishing second last, Barclays customers are a dissatisfied bunch indeed. Despite having the second most reviews overall, this still represents just 34% of the total reviews received across both the Lloyds apps. Over 2,600 Barclays customers felt the need to review the app with a 1 star rating.

Tesco is the real 2nd place app

The top three apps in this review are all built by the same company, it's great that they are consistently good across the brands but it should be pointed out that Tesco could well be considered to be the 2nd best liked app across Android and iPhone. 4th place in the review, 2nd in terms of it being a different app with different features and capability.

TSB has the least liked Android app

The TSB Android app comes second place in the highest percentage of 1 star assessment but sadly it also comes top (or bottom depending on your perspective) in the least 5 star reviews rating. Not only does the Android app have the lowest percentage of 5 star reviews it also has the lowest total 5 star reviews.

Royal Bank of Scotland has the fewest iPhone 5 star reviews

Very much stuck in middle ground, the RBS app has the unwanted accolade of having received the fewest 5 star reviews in total. The Tesco Banking app, which has only been on the market since last June has received three times as many 5 star reviews as RBS over a time period that is three months shorter.

The three Lloyds Banking Group apps are the only ones with over 50% 5 stars

Tesco and The Co-Operative Bank come quite close as they both have over 50% 5 star iPhone reviews but the Lloyds Banking Group apps are the only ones to achieve over 50% across both Android and iPhone. A word of warning though, this is largely because of the sheer volume of iPhone 5 star reviews, only the Lloyds Mobile Banking app on Android achieves over 50% 5 stars on its own.

Conclusion:

There is a lot of choice for UK customers, which is a good thing but what is clear is that banks with great reputations for customer services as well as strong brand perception don't necessarily have great apps. If their Apps are anything to go by; and thinking with a mobile first head on; I can see a bright future for the Lloyds Banking Group, Tesco Bank and The Co-Operative Bank.

The apps that trail this leading pack have quite a lot to make up where turning customer reviews into product actions is concerned. Reviews analysis is a critical part of App Store Optimisation and getting the right improvements into the product backlog isn't always always an obvious choice. We can help you make your apps brilliant by applying our industry and mobile expertise into strong roadmap improvements. For more on App Store Optimisation and Reviews Insights contact David Copeland [email protected]

Press Contact:
David Copeland
Connected Digital
1 Oxford Road
07730128666
http://www.connecteddigital.com
-- EOF ---
Contact Email : rame...@gmail.com
Issued By : David Copeland
Country : United Kingdom
Categories : Business
Last Updated : Mar 24, 2015

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