Santander in the UK had 3.6 million mobile banking users in 2019, over double what it had in 2015.
The Spanish-headquartered bank had 3.6 million mobile banking users in 2019, a 112% increase from 2015. This is higher than some of its incumbent banking peers such as Barclays (68%) and Lloyds (48%).
Speaking to RBI, this rise has come to no surprise for the bank.
Anthony Flack, head of digital transformation at Santander says: “The adoption of our app has been very much in line with our expectations and customer feedback has been really positive, which is reflected by the high ratings we have received on both the App Store (4.8) and on Google Play (4.6). At the same time we remain conscious of the requirements of customers who use other digital channels and we continue to ensure that we are appropriately supporting our online bank.”
According to Flack, Santander is in no risk of hitting a ceiling and the numbers are set to keep increasing.
“The way our customers are choosing to bank with us has changed dramatically in recent years, with more and more customers using online and mobile channels. As such, we expect the numbers of people using our mobile app to continue to rise,” he adds.
In addition, transactions in mobile banking have increased 24% for Santander for the past year and 99% in the past three years.
Santander mobile banking
As with all mobile banking apps, there are a variety of features on Santander’s app but what keeps customers coming back?
Flack says: “The intuitive design of our app means customers are able to use it for a variety of purposes when on-the-go, from viewing their balances to checking the latest Retailer Offers.
“Alongside using the app for more straightforward purposes as you would imagine, we’re also seeing a clear trend among customers using the more complex functions, such as setting up standing orders and payees, as well as making faster payments. These are all in addition to the more sophisticated features customers are adopting, such as Quick Balance, WhatsApp and PayM.”
In terms of what features the bank is most proud of, simplicity is a crucial aspect.
“We’re really proud of our login journey and the security measures we have in place to protect our customers from falling victim to fraud and scams,” Flack continues.
“We were the first bank to introduce enhanced fraud controls to confirm payees, which has since been widely adopted across the industry. We are always looking for new ways to improve the app and spend time listening to our customers and conducting testing and research. Personalisation of the experience is high on our agenda and we are looking at new ways to make it easier for customers to manage their money for example, such as through encouraging people to save.”
And what next?
He concludes: “We have a lot planned for our mobile app that we’re really excited about, from the introduction of pending transactions that will provide customers in real time with an accurate reflection of their most recent transactions whether they’re pending or settled, to Card Controls that will introduce the ability to temporarily freeze cards, which will help customers at the moment of truth when they think they may have mislaid a card.
“As customer appetite changes, we will continue to evolve our app, ensuring our customers benefit from a seamless experience wherever they wish to manage their money.”
For more on UK banking numbers, including rankings, click here.