This inaugural scorecard, weighted based on responses to a primary consumer survey, ranks the four largest US neobanks by user count according to their advanced mobile banking capabilities. The report presents detailed benchmarking data on the availability of 47 mobile features, selected by analysts based on the features’ propensity to help neobanks differentiate themselves from competitors. It is a companion to the 2020 US Mobile Banking Competitive Edge Report, which ranks the 25 largest US financial institutions by assets.

This annual scorecard, weighted based on responses to a consumer survey, ranks the 25 largest US financial institutions by assets by their mobile banking capabilities. The report presents detailed benchmarking data on the availability of 42 mobile features, selected by analysts based on the features’ propensity to help financial institutions differentiate themselves from competitors.

The COVID-19 outbreak undermined many of our pre-pandemic US forecasts. Insight can now be gleaned by examining the difference between what we thought would happen as of February 2020 vs. what our forecasts now show.

The pandemic has hit lower-income households especially hard. But its effects are being felt across income brackets, and not always in predictable ways—for instance, upper-income consumers are making the biggest spending cuts.

The financial services sector will continue to increase its investments in digital advertising this year despite the pandemic. Shifting consumer behavior toward digital banking services and heightened interest in personal finance has given financial services companies good reasons to continue advertising.