Lloyds Bank is at the forefront of mobile banking functionality, according to a Forrester Research analyst report – ahead of the like of Barclays and Natwest.

Forrester’s Global Mobile Banking Benchmark review ranks 41 banks across the world – including Europe, US and Asia Pacific – in terms of the functionality of their mobile apps.


Banks were ranked on a range of criteria in seven categories: number of touchpoints, enrolment and login, account information, transactional functionality, service features, cross-channel guidance, and marketing and sales. Each was given a score out of 100, with a global average of 61.

Spain’s Caixa Bank was awarded the top spot overall, with a score of 86. However, the report claims that a further seven banks stand out from their peers – Westpac (79), Canadian Imperial Bank of Commerce (75), Scotiabank (75), Bank Zachondi WBK (75), Commonwealth Bank of Australia (74), mBank (74), and, in the UK, Lloyds Bank (73).

UK banks further down in the rankings were Barclays (58), Natwest (53), HSBC (51), and Nationwide, which ranked second from bottom with a score of 41.

The authors of the report, Forrester analysts Peter Wannemacher and Aurélie L’Hostis, said that while mobile banking has matured in recent years, there is clear room for improvement.

“Digital teams at banks have spent the past few years ramping up transactional features such as P2P money transfers and mobile bill pay," the report states.

“But too few banks provide valuable service tools like fraud reporting and app-wide search or help mobile users shop for additional products and services.”

Mobile apps have become an increasingly important method of delivering banking services in recent years, as high street lenders reduce their branch networks in favour of digital channels. According to a recent Fiserv report, mobile banking is expected to double in the UK from 17.8 million to 32.6 million by 2020.

Established banks in the UK are set to come under increasing pressure with regards to delivery of mobile services as a range of digital-first competitors prepare to enter the market. New lenders awaiting banking licences - such as Mondo, Atom and Starling - expect to transact predominantly via mobile devices, and have the advantage of not being tied to legacy technology platforms.