In a global survey which assessed more than 100 financial institutions across 26 key markets on how well they performed in regards to the growth of digital users per month, Asian Banker Research compared top-tier financial institutions: commercial banks, ecommerce/payments/marketplace platforms, neo-banks and digital-only banks set up by commercial banks. For a full explanation of the survey methodology you may want to go to the end of this page.
FI Category | Country | Financial Institution |
Growth in digital users per month |
‰ of total population | Period of Observation | Ranking |
---|---|---|---|---|---|---|
Platform | Global | Alipay | 22,916,700¹³ | 2.98 | January 2017 - December 2018 | |
Platform | Global | WeChat Pay | 20,833,300¹³ | 2.71 | January 2017 - December 2018 | |
Platform | Global | Apple Pay | 12,518,600 | 1.63 | January 2017 - March 2019 | |
Platform | India | Paytm Payments Bank | 10,000,000³ | 7.47 | June 2018 - May 2019 | |
Financial Group | China | Ping An Group | 8,000,000 | 5.77 | January 2017 - December 2018 | |
Platform | Global | Mastercard | 3,800,000 | 0.51 | January 2017 - December 2018 | |
Commercial Bank | China | Agricultural Bank of China | 3,666,700³ | 2.65 | January 2017 - December 2018 | |
Commercial Bank | China | China Construction Bank | 3,625,000³ | 2.62 | January 2017 - December 2018 | |
Neo-Bank | China | Webank | 3,375,000 | 2.41 | January 2017 - December 2018 | |
Commercial Bank | China | ICBC | 3,014,700³ | 2.17 | January 2017 - December 2018 | |
Platform | Global | PayPal | 2,963,000¹ | 0.38 | January 2017 - March 2019 | |
Platform | India | Google Pay | 2,438,000 | 1.83 | September 2017 - December 2018 | |
Platform | Japan | LINE Pay | 2,000,000¹ | 15.87 | June 2017 - June 2019 | |
Commercial Bank | China | Bank of China | 1,916,700³ | 0.72 | January 2017 - December 2018 | |
Platform | Global | VISA | 1,500,000 | 0.19 | January 2017 - December 2018 | |
Platform | Global | Samsung Pay | 1,375,000² | 0.18 | January 2017 - December 2018 | |
Commercial Bank | China | China Merchants Bank | 1,166,700³ | 0.84 | January 2017 - December 2018 | |
Platform | ASEAN | Go Jek Pay | 1,100,000 | 2.51 | April 2016 - December 2018 | |
Platform | China/Hong Kong | Welab | 1,083,000 | 0.78 | July 2017 - December 2018 | |
Platform | Multi Regional | LINE Pay | 1,050,000²³ | 0.65 | January 2015 - December 2018 | |
Platform | Global | Coinbase | 1,041,700 | 0.14 | January 2017 - June 2019 | |
Neo-Bank | China | BaixinBank by Baidu | 1,000,000 | 0.72 | January 2018 - December 2018 | |
Commercial Bank | India | State Bank of India | 992,600 | 0.74 | January 2017 - March 2019 | |
Commercial Bank | China | Ping An Bank | 833,300³ | 0.77 | January 2017 - July 2018 | |
Commercial Bank | China | China CITIC Bank | 695,800² | 0.50 | January 2017 - December 2018 | |
Platform | Philippiners | Gcash | 586,200 | 5.43 | January 2017 - May 2019 | |
Neo-Bank | Brazil | NU Bank | 550,000 | 2.59 | September 2018 - July 2019 | |
Commercial Bank | Multi Regional | Santander | 470,400 | n/a | January 2017 - March 2019 | |
Platform | China | Lufax | 444,400 | 0.32 | January 2017 - March 2019 | |
Neo-Bank | Korea | Kakao Bank | 423,800 | 8.31 | July 2017 - March 2019 | |
Neo-Bank | China | Mybank | 395,800 | 0.28 | January 2017 - December 2018 | |
Platform | Thailand | TrueMoney | 388,900 | 5.62 | January 2016 - July 2018 | |
Commercial Bank | Multi Regional | BBVA | 381,500 | na | January 2017 - March 2019 | |
Platform | Vietnam | MoMo | 359,100³ | 3.76 | January 2017 - October 2018 | |
Commercial Bank | Global | Citibank | 318,500¹ | 0.41 | January 2017 - March 2019 | |
Commercial Bank | India | ICICI | 291,700 | 0.22 | January 2017 - December 2018 | |
Platform | Taiwan | LINE Pay | 283,300¹ | 11.90 | July 2018 - June 2019 | |
Commercial Bank | Africa | Ecobank | 241,700³ | 0.18 | January 2016 -December 2018 | |
Commercial Bank | Brazil | Santander | 233,300 | 1.10 | January 2017 - March 2019 | |
Commercial Bank | US | JP Morgan Chase | 229,200¹ | 0.70 | January 2017 - December 2018 | |
Commercial Bank | Thailand | Kasikornbank | 225,000³ | 3.26 | January 2017 - December 2018 | |
Neo-Bank | Multi Regional | Revolut | 214,300 | n/a | January 2018 - Febuary 2019 | |
Neo-Bank | Eurozone | N26 | 187,500 | 2.84 | July 2018 - February 2019 | |
Neo-Bank | US | Chime | 180,600 | 0.55 | January 2018 - June 2019 | |
Neo-Bank | UK | Monzo | 167,000² | 0.49 | April 2018 - December 2018 | |
Platform | Multi Regional | M-PESA | 154,200³ | n/a | January 2017 - December 2018 | |
Commercial Bank | US/Canada | Citibank | 148,100¹ | 0.45 | January 2017 - March 2019 | |
Commercial Bank | Brazil | Bradesco Group | 147,800 | 0.69 | July 2017 - June 2019 | |
Commercial Bank | US | Bank of America | 147,600¹ | 0.45 | January 2017 - June 2019 | |
Commercial Bank | Korea | Shinhan Bank | 141,700³ | 2.78 | January 2017 - December 2018 | |
Commercial Bank | Korea | Hana KEB | 137,500³ | 2.71 | January 2017 - December 2018 | |
Commercial Bank | UK | Loyds Banking Group | 137,500¹ | 2.10 | January 2017- December 2018 | |
Platform | Multi Regional | WorldRemit | 133,300 | n/a | July 2016 - December 2018 | |
Commercial Bank | Spain | Santander | 126,700 | 2.76 | January 2018 - March 2019 | |
Commercial Bank | Global | Standard Chartered | 125,000² | 0.02 | March 2014 - March 2017 | |
Commercial Bank | Nigeria | Guaranty Trust Bank | 112,500² | 0.56 | January 2017 - December 2018 | |
Commercial Bank | Thailand | Siam Commercial Bank | 108,700 | 1.57 | July 2017 - June 2019 | |
Commercial Bank | Vietnam | Vietcombank | 108,300 | 1.11 | January 2017- December 2018 | |
Digital-only Bank | Global | ING Group | 108,300 | 0.02 | January 2017 - December 2018 | |
Commercial Bank | Indonesia | BNI | 102,900 | 0.38 | January 2017 - December 2018 | |
Commercial Bank | Turkey | Garanti Bank | 102,500 | 1.24 | January 2017- December 2018 | |
Neo-Bank | US | Aspiration | 100,000 | 0.30 | June 2018 - June 2019 | |
Platform | Thailand | Rabbit LINE Pay | 100,000¹ | 1.45 | January 2018 - June 2019 | |
Platform | Multi Regional | Transferwise | 95,000³ | 0.01 | January 2017 - September 2018 | |
Platform | India | WhatsUp Pay | 90,000 | 0.07 | February 2018 - November 2018 | |
Commercial Bank | Italy | Intesa Sanpaolo | 87,500 | 1.49 | January 2017 - December 2018 | |
Commercial Bank | US | Wells Fargo | 86,700¹ | 0.26 | January 2017 - June 2019 | |
Commercial Bank | South Africa | First National Bank | 83,300³ | 1.43 | January 2018 - December 2018 | |
Neo-Bank | US | Marcus by Goldman Sachs | 76,900 | 0.24 | October 2016 - November 2018 | |
Commercial Bank | Africa | GT Bank(USSD only) | 75,000 | n/a | January 2017 - December 2018 | |
Digital-only Bank | India | Digibank by DBS | 71,900 | 0.05 | May 2016 - December 2018 | |
Commercial Bank | Malaysia | Maybank | 66,700³ | 2.10 | January 2017 - March 2019 | |
Commercial Bank | UK | Barclays | 62,500¹ | 0.94 | January 2017 - December 2018 | |
Commercial Bank | Vietnam | Vietinbank | 65,200² | 0.68 | Jan 2017 -November 2018 | |
Neo-Bank | Eurozone | Monese | 65,000² | 0.91 | January 2016 - April 2019 | |
Commercial Bank | Spain | Caixa Group | 62,500 | 1.37 | January 2016- December 2018 | |
Commercial Bank | UK | Santander | 62,500 | 0.91 | July 2018 - March 2019 | |
Commercial Bank | Vietnam | BIDV | 47,900³ | 0.49 | January 2017-December2018 | |
Digital-only Bank | Indonesia | Digibank by DBS | 47,600 | 0.09 | August 2017 - May 2019 | |
Digital-only Bank | US | BankMobile | 47,200 | 0.14 | January 2016 - December 2018 | |
Neo-Bank | Japan | Rakuten Bank | 45,200 | 0.36 | January 2015 - December 2018 | |
Platform | China | Yirendai (CreditEase) | 42,900 | 0.03 | January 2017 - December 2018 | |
Commercial Bank | Vietnam | VPBank | 41,700 | 0.43 | January 2017 - December 2018 | |
Commercial Bank | UK | RBS | 41,700¹ | 0.61 | January 2018 - December 2018 | |
Commercial Bank | Global | HSBC | 41,700 | 0.01 | April 2015 - April 2018 | |
Platform | Saudi Arabia | STC Pay | 40,000 | 1.22 | October 2018 - February 2019 | |
Commercial Bank | Canada | Royal Bank of Canada | 40,000¹ | 1.08 | June 2017 - June 2018 | |
Commercial-Bank | Australia | Suncorp | 38,333 | 1.53 | July 2017 - December 2018 | |
Commercial Bank | Nigeria | First Bank of Nigeria | 38,100³ | 0.19 | January 2017 - March 2019 | |
Commercial Bank | Australia/NZ | CBA | 37,500¹ | 1.52 | January 2017 - December 2018 | |
Digital-only Bank | Spain | imaginBank by CaixaBank | 33,300 | 0.72 | January 2016 - December 2018 | |
Neo-Bank | Indonesia | Jenius | 32,000 | 0.12 | August 2016 - August 2018 | |
Digital-only Bank | Japan | Jibun Bank | 30,630 | 0.24 | January 2015 - December 2018 | |
Neo-Bank | Brazil | Banco Inter Brazil | 30,300 | 0.14 | January 2016 - September 2018 | |
Platform | UK | Curve | 30,000 | 0.45 | February 2018 - November 2018 | |
Commercial Bank | Australia | ANZ | 29,600¹ | 1.18 | January 2017 - December 2018 | |
Digital-only Bank | Australia | ING Direct | 29,200¹ | 1.19 | January 2017 - December 2018 | |
Commercial Bank | Singapore/Hong Kong | DBS | 29,200 | 2.24 | December 2016 - December 2018 | |
Digital-only Bank | France | Boursorama by Societe General | 29,200 | 0.45 | January 2016 - December 2018 | |
Neo-Bank | UK | Atom Bank | 28,600 | 0.42 | April 2016 - March 2019 | |
Neo-Bank | UK | Starling Bank | 27,500 | 0.39 | March 2017- July 2019 | |
Neo-Bank | France | Nickel by BNP Paribas | 27,000 | 0.42 | June 2016 - June 2019 | |
Commercial Bank | Australia | Westpac | 26,300¹ | 1.04 | January 2017 - December 2018 | |
Neo-Bank | Brazil | Banco Original | 25,800 | 0.12 | April 2016 - December 2017 | |
Digital-only Bank | Germany/Austria | ING DIBA | 25,000² | 0.30 | January 2016 - December 2018 | |
Neo-Bank | Vietnam | TIMO | 21,900 | 0.22 | January 2017 - June 2019 | |
Digital-only Bank | Taiwan | Richart! by Taishin International | 21,700 | 0.92 | January 2018 - December 2018 | |
Digital-only Bank | Japan | SBI Sumishin Net Bank | 21,100 | 0.16 | January 2015 - December 2018 | |
Commercial Bank | Japan | MUFJ | 20,800 | 0.22 | January 2017 - December 2018 | |
Digital-only Bank | Nigeria | ALAT by Wema | 16,500 | 0.09 | May 2017 - September 2018 | |
Digital-only Bank | US | Ally Bank | 15,300 | 0.05 | January 2016 - December 2018 | |
Digital-only Bank | Canada | EQ Bank by Equitable Bank | 10,700 | 0.06 | January 2016 - February 2019 | |
Digital-only Bank | UAE | Liv by Emirates NBD | 10,000 | 1.06 | May 2017 - May 2018 | |
Commercial Bank | Indonesia | Mandiri | 8,300 | 0.03 | January 2017 - December 2018 | |
Commercial Bank | Sweden | SwedBank | 8,300 | 0.52 | January 2017 - December 2018 | |
Digital-only Bank | Europe | Hello Bank! by BNP Paribas | 8,300 | 0.01 | January 2018 - December 2018 | |
Digital-only Bank | Australia | Up by Bendigo | 6,700 | 0.27 | October 2018 - December 2018 | |
Digital-only Bank | Australia | UBank | 5,583 | 0.23 | October 2017 - September 2018 | |
Neo-Bank | Canada | KOHO | 4,600 | 0.12 | March 2017 - May 2019 |
Notes:
(1) active digital users as defined by the FI
(2) estimated based on indirect data such as active ratios, total customer, growth, or retail digital user base
(3) mobile banking users only
(4) According to Citibank reports active digital consumer banking users grew by 337,500 per month between July
2016 and June 2018. Asian Banker Research applied an 85% digital active rate to determine total registered
digital consumer banking base.
(5) ‰ of total population is defined as the growth of digital users per month divided by total country
population and measured in per mille = 1/1000
(6) To determine ‰ for multi-regional FIs we aggregated the number of population by country.
Source: Asian Banker Research