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MARKSWEBB.RUMOBILE BANKINGREVIEWEUROPE2018Study of mobile banking bestpractices in European countriesDemo reportAugust 2018

ABOUT THE STUDYMobile Banking Review Europe 2018 is anAltogether, 53 banks and all their mobileindependent study of European mobile banking forapplications for iPhone and Android smartphonesindividuals.participated in the study.Mobile banking apps in 10 countries were selectedData was acquired via agents residing in thefor the study:countries included in the study. The agents set uptheir accounts and forwarded their access to mobile 5 largest European economies: Great Britain,Germany, Spain, Italy and France. 5 European countries where more than 90% ofAs a result, the best mobile banking practices forvarious user tasks have been identified. Some ofthe population use digital banking services:these best practices can be directly implementedDenmark, the Netherlands, Norway, Finland andinto the mobile banking application, while othersSweden.serve as a benchmark or inspiration.In each country, mobile apps from the largest retailand digital banks were selected – i.e. those mostlikely to contain a high concentration of bestpractices and solutions. The study also included 5international digital banks currently operating inseveral European countries.2banking to Markswebb experts.This Mobile Banking Review Europe 2018 studytook place from February to June 2018.Learn more about methodology

CONTENTS OF THE REPORTUpper-levelKeyresults ofsectionthe studyname 5Up to 13 items andInfrastructureinclusivelegislation specifics 8Mobile banking in European countries 18Best practices 31Study methodology 405About the Markswebb consulting agency 410

MARKSWEBB.RUINFRASTRUCTUREAND LEGISLATIONSPECIFICS

INFRASTRUCTURE ANDLEGISLATION SPECIFICSName of section of new players EMD/EMD2:Entry10Up toSingle13 itemsinclusivePSD:EuroPayment Area 11PAD: Easy transition between banks 12PSD2: Open banking 13Remote account opening 14Service payments 15Transfers 16

MARKSWEBB.RUMOBILE BANKINGIN EUROPEANCOUNTRIES

MOBILE BANKING IN EUROPEANCOUNTRIESName of Europeansection banks Types20Up to 13 itemsinclusiveBankingapplications 28

MARKSWEBB.RUBEST PRACTICES

BEST PRACTICESName of section the application Learninghow to use32Up to 13 itemsinclusiveon balance and transactions Obtaininginformation44Managing expenditures 70Transfers and payments 96Request funds and top up an account 136Getting an advice or sending a complaint 158Obtaining bonuses and incentives 180Opening an account/issuing a card 196Saving and increasing the balance 221Procuring an insurance and managing it 273Obtaining a loan 309Safeguarding funds 340Find a bank’s office or an ATM 395

LEARNING HOW TO USE THEAPPLICATIONIn the majority of cases, users have to learn theIn the first case, some banks use demo versions offunctions of an application on their own, withoutthe application, presentations of the application'sany assistance from their bank.main functions when the user logs in for the firsttime and overlay tips when first going to a newFor our purpose, the task of training to use anscreen.application may be subdivided into two majorgroups:In the second case, the application uses context1. the user has no questions – in this case, thebank’s objective is to tell the user about themain functions the application offers, motivatethe client to use this channel of service, as wellas to encourage the user to carry out moretransactions.2. the user has some questions – in this case, thebank’s objective is to provide a convenient toolthat would address the user's questions. If nosuch tool is available, the user may turn to clientservice or refrain from carrying out a transactionwith the mobile bank.10Best practicestips and explanations called upon by the user andreference section of the mobile bank.

LEARNING HOW TO USE THEAPPLICATIONAfullyoffunctionalNameblock demo version 3474Anofinclusivethe application’s functionality at first entry Up overviewto 13 items3575Tips during operations 3681Guidelines and user manual 4087

OBTAINING INFORMATION ONBALANCE AND TRANSACTIONSTransactionhistoryName of block 4674transaction history search services Up toConvenient13 items inclusive4675Insightful transaction details 5481Challenging transactions 6287Integrated event feed 64Generation and export of account statements in various formats 65Finding out the account balance 67Balance in widgets 67Balance in the application 68

Transaction history CONVENIENT TRANSACTION HISTORY SEARCH SERVICESMonzoUser taskTrack out how much money was spent during a tripand on what exactlyThe problem with typical implementation byother banksTransaction history lacks tags for the countrieswhere a transaction was carried out, purchasesmade abroad are not grouped as a single event;there is no simple way to find out the amount ofexpenses during a tripMonzo's solutionAfter returning from abroad, the applicationautomatically generates a trip summary called“Your visit to *country name*”, showing the durationof the trip and the total amount of expenditures. Inthe event’s details, the user can see how manytransactions were carried out and an average bill ontransaction (both in the currency of the accountand in the currency spent), and can jump to thecomplete list of purchases made during the trip.13Obtaining information on balances and operations

MANAGING EXPENDITURESName expenseof block Clientanalytics 7274Up toAccount13 items balanceinclusiveand spending dynamics 7275Client expense data visualization 7781Personalization and customization of analytic tools 8487Limiting expenses 90Setting up and managing individual expense category budgets 90Budget notifications and statuses 93

TRANSFERS AND PAYMENTSName of blockTransfers 9974Up toUsing13 itemsinclusive number/email addressa telephoneRepeated and response transfers 99 Simplified transfer to another bank client10381 10787International transfers with currency conversion 108Transfers using special features of smartphones 110Minor enhancements for filling-in transfer forms 113

TRANSFERS AND PAYMENTSName of blockPayments 11974Up toContactless13 items inclusivepayments using a smartphone 11975Scheduled payments Simplified methods of bill payment12181 Searching for banking information of a company12987 132Accessing two accounts with a singe card 133Paying for purchases online 134Paying for fuel at gas stations 135

Transfers USING A TELEPHONE NUMBER/EMAIL ADDRESSRevolutUser taskTransfer moneyThe problem with typical implementation byother banksThe recipient’s account details have to berequested and inputtedRevolut’s solutionThe user can transfer/request funds to/from otherclients of the same bank or to/from other contacts.In the event of the latter, the recipient will receive apayment link to enter the required paymentinformation.The application’s contact list is synchronized withthe smartphone contact list. Revolut's clients areshown in a dedicated block in the upper part of thecontact list with user selected pictures.17Transfers and payments

Transfers USING A TELEPHONE NUMBER/EMAIL ADDRESSRevolutTransferring funds to the bank’s clients is verysimple. All the user one to do is select a contract,state the transfer amount and the payment will beprocessed immediately.When the recipient is not a Revolut client, apayment link will be generated which can beexported using operating system standard dialog.This means that the user will have to send thepayment link to the beneficiary. The history ofoperations will be updated with details of thetransfer to the contact.18Transfers and payments

Transfers USING A TELEPHONE NUMBER/EMAIL ADDRESSRevolutAfter opening the link, the transfer recipient wouldhave to select his/her country and input therequired payment details for subsequent creditingof funds to the account; the payment detailsdepend on the specific country. In case of a transferoutside the Eurozone, the beneficiary will have toprovide the details of the recipient’s name, accountnumber, RCBIC and address of the recipient.19Transfers and payments

Transfers SIMPLIFIED TRANSFER TO ANOTHER BANK CLIENTRevolutUser taskTransfer money to a person located nearbyThe problem with typical implementation byother banksThe user must either use a bank transfer, whichrequires the receiver's account information andtakes a long time to process, or use a third-partyapplication using a telephone numberRevolut's solutionTo transfer funds between nearby clients ofRevolut, the geolocation function is used. Detectednearby users are displayed on the search screen asa list with photos. Search results may be filtered:e.g., only people in the smartphone contact list maybe displayed. Besides that, the user's visibility mayalso be limited to his/her contacts or be visible toall the clients of the bank.20Transfers and payments

REQUEST FUNDS AND TOP UP ANACCOUNTDepositwithdrawwithout a card Name ofandblock 13874Convenientexportof account information Up to 13 itemsinclusive14075Funds request 14681Request a transfer or sharing a payment with another person 146Crowd funding 154Top up an account using a third-party bank card 156

DEPOSIT AND WITHDRAW WITHOUT A CARDN26User taskWithdraw cash or replenishing an accountThe problem with typical implementation byother banksThe user has to have a bank card on hand and findan ATMN26's solutionN26 integrates interaction with bank into routineshopping. The user can withdraw cash or replenishan account without having to use a bank card andnot only at an ATM, but also directly at a counter ofany of the 7,000 partner shops. To do this, the userhas to specify the deposit/withdrawal amount inthe application and let the check-out clerk scan thegenerated barcode along with other purchases.22Request funds and top up an account

OBTAINING AN ADVICE ORSENDING A COMPLAINTUsingreferencesection Name theof block 16074Signingfor aconsultation in a bank office or by telephone Up to 13upitemsinclusive16675Via chat 17181With a bot 171With an employee 174Using audio/video-conference 179

CLAIMING BONUSESAND INCENTIVESName of block Bonusesfor makinga purchase 182Up toSearching13 items inclusivefor discounts/cashbacks in shops using city map 182Discount coupons for goods Bonuses for regular shopping in a retail outletDigitalizing loyalty cards184 186 188Searching for discounts/cashbacks in e-shops Inviting a friend to become a client of the bank for a reward191 193

OPENING AN ACCOUNT/ISSUINGA CARDBecominga clientName of block via the application 19874Issuingcards Up to 13additionalitems inclusive20875Managing an account together 21381

BUILDING AND SAVING A BALANCEName of blockInvestmentsin securities 224Up toBuying13 itemsinclusiveandselling securities 224Information and analysis 232Investment essentials training 232Security portfolio analysis 233Information related to investment tools 235Currency/crypto currency exchange rate analysis tools 239Crypto currencies 243Buying/selling a currency at stock exchange rates 245Establishing deposits 247

BUILDING AND SAVING A BALANCEName ofsavingsblock Pension257Up toDefining13 items ainclusivepension savings strategy 257Establishing and managing a pension program Targeted savings 264266

PROCURING AN INSURANCEAND MANAGING ITName of block Purchasingan insurance 275Up toInsuring13 itemsainclusivesmartphone from damage 275Insuring a vehicle 277Insuring real estate 283Insuring life and disability 286Purchasing a travel insurance 287Insuring purchases made with a debit card 295Insurance packages 296Managing an insurance 300Claiming an insurance event 300Digitalize available insurance certificates 304

OBTAINING A LOANName of block Electronicexecutionof loans 311Up toConsumer13 items inclusiveloans 311Credit cards 320Card overdraft 325Selecting real estate property and mortgage calculator 330Deferred payment purchases 336Pre-approved loan offers 337