Top 10 mobile banking apps in 2022 by number of downloads
1. Nubank (Brazil)
Downloads: 50 minutes
By far the most downloaded banking app on this list, with more than twice as many downloads as Revolut, is Nubank. It was founded in 2013 by founders David Vélez, Edward Wible and Cristina Junqueira – who were named FinTech Magazine’s top leaders for 2022.
In less than a decade, Nubank has established itself as a banking behemoth – the world’s seventh most downloaded financial app, mixed with the likes of PayPal and Alipay. Its easy-to-use features include personal loans, credit cards and a free digital account.
2. Revolut (UK)
Downloads: 21.1 minutes
The undisputed king of European fintechs – founded in 2015 by Nik Storonsky and based in London – Revolut’s position has been cemented in recent months by even more features and a glossy TV campaign.
Often called a super app, it is worthy of its place on this list. More than 21 million customers have downloaded the app in the past year, discovering features such as instant payments, global transfers, virtual cards, crypto trading and cashback on some of their favorite brands.
3. PicPay (Brazil)
Downloads: 20 minutes
PicPay is one of those fintechs that flies under the radar, with a modest reputation that belies the fact that it was downloaded 20 million times in 12 months – one of only three apps on our list to pass that milestone. Despite its name, PicPay is undoubtedly an all-digital banking app. With their free digital account, users can send and receive money, pay bills (including in installments), earn cashback on purchases, top up their mobile phone or public transport card and buy credit for digital services such as Uber or pay TV.
4. C6 Bank (Brazil)
Downloads: 17.9 minutes
A household name, digital bank C6 uses lean, pared-down branding to make an impact among young Brazilians. It must be working: the app was downloaded almost 18 minutes in the last 12 months. It offers credit and debit cards with personalization options; accounts and money transfers; investments and multi-currency accounts; plus insurance and even dental plans.
C6 Bank was founded in 2018 by Carlos Fonseca, Marcelo Kalim and Leandro Torres and today employs almost 4,000 people.
5. Tinkoff (Russia)
Downloads: 15.8 minutes
The Russian digital bank Tinkoff was formed in 2006 and named after its founder, Oleg Tinkov. The app combines functions familiar to banking – such as savings accounts and transfers – with some that are not. You can pay electricity bills, traffic fines and tolls; withdraw money from ATMs using a QR code; and scan receipts with your smartphone’s built-in camera. Fortunately, Tinkov’s vocal opposition to Vladimir Putin doesn’t seem to have dampened his namesake’s popularity: the app was downloaded 15 million times in the past year.
6. Inter (Brazil)
Downloads: 15.2 minutes
Inter describes itself as “much more than a digital bank”, which is an existential problem for this list – but we’ve decided to include it anyway! The popular super app combines a number of digital features without fees. It offers a virtual credit and debit card, personal loans and payday loans, an investment platform, fee-free transfers, insurance and a free children’s account that allows parents to engage their children in important life skills such as saving and budgeting.
7. iti (Brazil)
Downloads: 14.4 minutes
Another South American challenger created by established Brazilian digital bank iti was born out of banking conglomerate Itaú Unibanco, which was formed in 2008 from the merger of two of the country’s largest banks.
One of the standout features is the relatively low age requirement: teenagers as young as 14 can register for iti, helping to engage them in financial literacy from an early age. The app also offers credit cards, savings targets, loans and fee-free transfers.
8. Carillon (USA)
Downloads: 13.9 minutes
The only American representative on our list, digital bank Chime, was founded in 2013 by Chris Britt and Ryan King. Like many apps, it initially struggled to build an audience: it took Chime five years to attract its first million customers, but only another 12 months to reach four million. Today, it offers a number of features that appeal to users, including a fee-free overdraft of up to $200, seamless peer-to-peer transfers and access to direct deposits up to two days earlier.
9. PagBank (Brazil)
Downloads: 12.8 minutes
PagBank – from the payments company PagSeguro – describes itself as “the complete bank” that offers free digital accounts, and has established itself as one of Brazil’s most popular banking apps. In fact, almost 13 million users downloaded PagBank in the past year – an impressive feat for such a competitive banking landscape. One of six Brazilian apps in our top 10, PagBank offers all the usual features you’d expect from a bank, including money transfers, credit and debit cards, mobile top-up, insurance and investments.
10. Nequi (Colombia)
Downloads: 11.9 minutes
The battle for 10th place was close, with only 50,000 downloads separating Colombian digital bank Nequi and its nearest competitor.
Nequi shows a common trend within the South American banking sector: established banking institutions launching completely new, fully digital brands. This offering from Bancolombia was founded in 2016, but has risen to prominence in a relatively short time, amassing over 11 million downloads in the past year alone.
It has definitely earned its place in our top 10.
