Consumers Rate the Best and Worst U.K Mobile Banking Apps in New Report from Xtreme Labs

Consumers Rank Santander UK Bank Highest While Several Banks Need to Improve on Two Critical Issues

Marketwired

PALO ALTO, CALIF. and TORONTO, ONTARIO--(Marketwired - Aug 21, 2013) - Xtreme Labs, the leader in mobile strategy and product development, today released a new report on the best and worst mobile banking apps in the U.K. as rated by customers themselves. The U.K. Banking Apps Report: Customer Reviews by Xtreme Labs analyzed customer reviews from the Apple App Store and the Google Play Store between May 18 and June 11, 2013 for the top 12 banks as ranked by total assets in the U.K.

The report includes platform coverage, highest and lowest rankings, and common customer complaints, with solutions for banks to improve their mobile offering. To view the complete U.S. Banking Apps Report, please visit: http://www.xtremelabs.com/uk-banking-apps-report-customer-reviews.

Highlights from the Banking Apps Report include:

  • The average rating on iOS is 2.7 stars for the current version of the app and 3.1 for all versions; the average rating on Android is 3.3 stars for all versions
  • Platform coverage is weak, as only 58% of banks have developed an app on iOS, Android or both platforms
  • Royal Bank of Scotland Group has developed the most apps, with a total of 7 across both platforms
  • Seven banks have one to three apps each, while two consumer banks - Clydesdale and Yorkshire Bank and Northern Rock plc - have no apps at all
  • Santander UK's Personal Banking app is the only app rated highly on both Android (3.2 stars) and iOS (3.5 stars)
  • The top issues found across both platforms include: bugs and login/logoff issues

"Customers expect a great user experience, intuitive design and everyday banking functionality from their bank's mobile offering. It's surprising to see the majority of U.K. banks are miss the mark on mobile and almost half of the banks don't have an app at all," said Mike Stern, Director of Financial Services, Business Development at Xtreme Labs. "Mobile is here to stay. These banks need put mobile first to succeed in the long-term."

Top 2 Highest-rated iOS Apps(1)

  1. Personal Banking, Santander UK - 3.5 stars, 77% favorable
  2. Isle of Man Bank, Royal Bank of Scotland Group - 3.5 stars, 69% favorable

Top 3 Highest-rated Android Apps(2)

  1. NatWest, National Westminster - 3.9 stars, 79% favorable
  2. RBS, Royal Bank of Scotland Group - 3.8 stars, 76% favorable
  3. Ulster Bank ROI, Royal Bank of Scotland Group - 3.6 stars, 73% favorable

Common accolades for top ranking apps are that they are easy to use, well designed and convenient as they have all the functionality needed to perform everyday banking 'on the go'.

Bottom 3 Lowest-rated iOS Apps(3)

  1. The Co-Operative Bank, Co-Operative Banking Group- 1.5 stars, 88% negative
  2. Royal Bank of Scotland, Royal Bank of Scotland Group- 2.0 stars, 71% negative
  3. Lloyds TSB Mobile Banking, Lloyds Banking Group - 2.0 stars, 69% negative

Lowest-rated Android Apps(4)

  1. HSBC Fast Balance, HSBC Holdings - 2.4 stars, 61% negative

Common complaints for low-ranking apps include lack of basic functionality, bugs including login/log off issues, poor design and updates that don't improve the app at all.

Research for the U.K. Banking Apps Report: Customer Reviews by Xtreme Labs was conducted from May 18 to June 11, 2013 and is based on the list "Top Banks in the U.K." on www.relbanks.com. The report aggregated publicly available consumer ratings in both the Apple App Store and Google Play Store and listed those results, as well as top complaints based on consumer comments. Data for the current version of each app was used for iOS if there were reviews and ratings available for the current version; otherwise data from all versions was used.

About Xtreme Labs

Located in Toronto, Palo Alto and New York City, Xtreme Labs is a mobile strategy and product development firm which designs and engineers the best mobile experiences across all platforms. We are a full-service mobile solutions provider with unmatched expertise that is trusted by the world's most important brands. We help bring products to life and ultimately help our clients become mobile first companies leveraging a proven methodology - discovery, product and performance. Our service offering is powered by our Responsive Mobile Platform - the same platform used today by some of the world's biggest brands in Financial Services, Retail, Media, Automotive and others.

(1) based on a combination of average star rating (out of 5) and percentage of favorable ratings (at least 60 percent favorable ratings of 3+ stars) in the App Store for apps with 25 or more reviews

(2) based on a combination of average star rating (out of 5) and percentage of favorable ratings (at least 60 percent favorable ratings of 3+ stars) in Google Play for apps with 25 or more reviews

(3) based on a combination of average star rating (out of 5) and percentage of negative ratings (at least 60 percent negative ratings of less than 3 stars) in the App Store, for apps with 25 or more reviews

(4) only one app met criteria - based on a combination of average star rating (out of 5) and percentage of negative ratings (at least 60 percent negative ratings of less than 3 stars) in Google Play, for apps with 25 or more reviews

Contact:
Xtreme Labs
Charmaine D'Silva
Sr. PR Manager
647-963-7113
charmaine.dsilva@xtremelabs.com
www.xtremelabs.com

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