Acorns acquired the youth-focused bank app to enter the European market and address customers’ full financial life cycles.

This fourth annual study ranks the four largest US neobanks by customers based on their support of 47 emerging mobile banking features, weighted by consumer demand for each feature.

Neobanks face a widening gulf with incumbents on digital trust. These disruptors must prioritize ways to build up this key commodity amid unprecedently difficult market conditions.

US banks are facing a consumer crisis of faith amid market turmoil. The trust-building actions banks take now will determine how their customer relationships fare in the future.

A looming recession and economic turmoil will hinder neobanks’ ability to get in the black. They’ll have to fight to create profitable and sustainable growth—and put investors’ and customers’ minds at ease.

In 2022, US consumers will collectively open 13.1 million new bank accounts via digital channels, per our estimates. We stack up the mobile account opening experiences of the 10 largest US banks (by domestic asset size) and the four largest US neobanks (by users) based on our analysis of 35 emerging features.

The US challenger’s plan to mix decentralized finance with traditional banking in a “hybrid finance” approach could shore up its appeal to younger users.

Data from the FDIC, NCUA, and the Office of the Comptroller of the Currency (OCC) on outcomes of initiatives targeting the underserved would also have value for banks.

The dominoes may already have fallen, based on the regulator’s conclusions about the controversial practice and the CFPB’s plans for “regulatory interventions.”

This benchmark evaluates four US neobanks across seven categories and weights their scores according to the results from a survey of US mobile banking users. It highlights the most in-demand mobile banking features that an incumbent, fintech, or neobank can offer to attract, retain, or monetize users.

In this report, we explore how digitization is reshaping the banking CMO’s role, responsibilities, and priorities through exclusive interviews with 10 banking industry CMOs in the US and Canada.

A financial planning platform for students will offer valuable tools to 17- to 24-year-olds and may win their long-term loyalty and retention.

Digital-only banks—and neobanks in particular—have emerged as potent threats to incumbents, and many disruptors that could further shake up the US banking market loom large. But incumbents can still secure digital account holders by adopting digital best practices championed by challengers.

Through our exclusive interviews with heads of digital at 12 of the largest financial institutions and three top neobanks across the US, UK, and Canada, this report illuminates the biggest challenges and opportunities these executives are facing. 

This latest funding round adds to its war chest, providing ample gunpowder to deploy as it looks to expand its products’ breadth and geographic reach.

Coming in at No.1 confirms that it’s the preeminent neobank in the US—but it still could use a national banking charter to help build trust and hang onto its growing customer base.

The US regional bank joins other incumbents that have recently added a feature which used to be a differentiator for neobanks—and broadens its safety net for customers in need of short-term financing.