Apple tweaked its propriety algorithm that ranks apps in terms of popularity (Cnet article). Evidently the changes had an impact on overall rankings, but little or no effect on intra-category ranks.
That holds true with my casual observations within the finance category. Regardless, it seemed like a good time to visit the App Store and document which financial iPad apps are currently most popular (see Table below).
Note: The first column below is the rank among all financial institutions (as defined below). The second column in the app’s rank within the entire App Store “finance” category.
- The highest rated bank is Chase at number 9 in the finance category
- There are only two banks (Chase & USAA) in the top 20
- There are only seven consumer banks in the top 200 (Chase, USAA, Bank of Oklahoma, Trustmark, BB&T, BBVA, Bank of Texas)
- There are more credit unions (8) than banks (7) in top 200 in the finance category
- Still missing some huge banking names (Amex, BofA, Capital One, Citi, Discover, Mint, PayPal, US Bank)
My methodology: Using an iPad and iPhone, I accessed the finance category of the App Store and sorted by “Most Popular.” I am including only apps from any U.S. financial institution or from third parties that tap directly into financial institution data using account aggregation (e.g., from Yodlee, CashEdge, etc.). Pure content apps, like Schwab’s On Investing magazine, were not included even if from a financial institution.
|FI Rank||Finance Rank||Company||App Name
|1||1||Pageonce||Money & Bills (free)|
|3||3||Maximo Cavazzani (works with
|5||10||Pageonce||Pro – Money & Bills|
|10||22||Thinkorswim (TD Ameritrade)|
|12||49||Mercedes-Benz Financial||My MBFS|
|13||50||Wescom Central Credit Union||Mobile|
|15||67||BofAML (BofA Merrill Lynch)||MyMerrill|
|16||68||Bank of Oklahoma||Mobile|
|17||74||MACU (Mountain America)||Mobile Banking|
|18||88||Trustmark National Bank|
|19||96||thinkMoney (TD Ameritrade)|
|20||97||BofAML (BofA Merrill Lynch)||Merrill Edge|
|23||114||thinkorswim (TD Ameritrade)||VEO Mobile|
|24||131||BBVA Compass||Mobile Banking|
|25||169||NASA FCU||Mobile Banking|
|26||170||DATCU Credit Union||Mobile Banking|
|27||182||SCU (Scott Credit Union)||Mobile Banking|
|28||188||Bank of Texas||Mobile Banking|
|29||193||GWCU (Goldenwest Credit Union)||Mobile Banking|
|30||194||American Eagle FCU||Mobile Banking|
Note: For more info on mobile banking, see our previous Online Banking Reports.