World’s Top 100 Digital Banks Rankings

Over the past decade, since the start of the fintech boom, the financial services sector has witnessed the emergence of hundreds of stand-alone digital banks globally. These banks have revolutionised how digitally inclined consumers save, borrow, transact, and invest.

To monitor this growing array of digital contenders, TABInsights has been assessing the performance of more than 150 leading digital banks globally since 2021, ranking them based on a balanced scorecard. This scorecard evaluates capabilities across five key dimensions: customers, market/product coverage, profitability, asset and deposit growth, and funding. Scale and size aren't the primary determinants; instead, they're weighed against factors like profitability, operational efficiencies, the ability to secure funding, and the manner in which these digital banks maintain a robust loan book and balance sheet.

We will be releasing the next 2024/2025 ranking by October 2024.

Rank Digital-Only Bank Country/Headquarter Year of launch Customer Coverage Financials Balance Sheet Funding Final Score
# of users Growth /month Users /staff Total Score # of markets # of products Total Score ROE Gross revenue Revenue growth Revenue/ user CIR Total Score Assets Deposits LDR Total Score Funding Total Score
Score Score Score 30% Score Score 10% Score Score Score Score Score 30% Score Score Score 20% Score 10%
6 10 10 30.0 10 10 10.0 10 6 10 10 10 30.0 6 6 10 20.0 10 10.0 100.0
1 Nubank Brazil 2014 6 9 4 21.9 3 10 6.5 8 4 3 3 7 16.3 4 3 4 10.0 7 7.0 61.7
2 ING (Global) Netherlands 1991 4 1 1 6.9 10 10 10.0 7 5 1 8 5 17 6 6 9 19.1 7 7.0 60.0
3 WeBank China 2015 6 4 7 19.6 1 9 5.0 9 4 1 1 8 15 5 4 8 15.5 2 2.0 57.1
4 KakaoBank South Korea 2017 4 8 4 18.5 1 9 5.0 3 2 1 2 7 9.8 4 4 10 16.4 6 6.0 55.6
5 Tinkoff Bank Russia 2007 4 10 3 19.6 1 8 4.5 10 3 2 5 5 16.3 3 3 9 13.6 1 1.0 55.1
6 Ally Bank US 2009 3 1 1 5.8 1 10 5.5 6 4 0 10 5 16.3 6 6 10 20.0 7 7.0 54.6
7 ING Germany 2000 2 1 1 4.6 1 10 5.5 9 3 2 8 7 18.9 6 6 8 18.2 4 4.0 51.2
8 Toss Bank South Korea 2021 2 10 4 18.5 1 5 3.0 0 1 10 2 7 13 3 3 6 10.9 4 4.0 49.4
9 Suning Bank China 2017 5 2 7 16.2 1 7 4.0 6 2 1 1 10 13 3 3 9 13.6 2 2.0 48.8
10 MYBank China 2015 5 1 5 12.7 1 5 3.0 6 3 1 2 9 13.7 5 4 9 16.4 2 2.0 47.8

Notes:

  • As of March 2024
  • Scores for ING Global are based on group retail banking.
  • Under the assessment dimension 'coverage,' we mapped the product scope of digital banks across 12 top-line products, including mortgage, personal loan, car loan, credit card, CASA account, time deposit, debit card, e-wallet, international remittances, mutual fund/fixed income, life insurance, and non-life insurance.

Source: TABInsights

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