TABInsights

Global Top 100 Digital Bank Ranking 2022

Over the last decade since the start of the fintech boom, the financial services sector has seen the rise of more than a hundred stand-alone digital banks globally. They have transformed the way digitally inclined consumers save, borrow, transact and invest.

To track this increasing array of mobile based virtual contenders, TABInsights has launched the world’s first comprehensive assessment of global digital banks that ranks them according to a balanced scorecard derived from an objective and transparent set of evaluation criteria. The scorecard assessment covers capabilities mapped across five key dimensions: customer, market/product coverage, profitability, asset and deposit growth and funding. Scale and size are not the main determinant, and are balanced with profitability, operational efficiencies, the ability to raise funds and the way these digital banks grow a healthy loan book and balance sheet. The global top 100 digital bank ranking covers digital banks from 36 countries across all major world regions.

Rank FI Country Launched 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%
10 10 10 30.0 10 10 10.0 10 10 10 10 10 30.0 10 10 10 20.0 10 10.0 100.0
1 WeBank China 2015 10 10 7 27.0 1 5 3.0 8 5 2 1 8 14.4 9 6 10 16.7 2 2.0 63.1
2 ING (Global) Netherland 1991 7 0 1 8.0 10 9 9.5 6 7 1 8 3 15.0 10 10 9 19.3 9 9.0 60.8
3 Ally Bank US 2009 4 4 1 9.0 1 10 5.5 7 6 1 10 6 18.0 10 10 10 20.0 8 8.0 60.5
4 MYBank China 2015 8 7 5 20.0 1 3 2.0 4 5 3 2 8 13.2 9 5 10 16.0 3 3.0 54.2
5 Klarna Sweden 2017 10 10 5 25.0 10 2 6.0 0 5 2 1 0 4.8 4 2 7 8.7 6 6.0 50.5
6 Tinkoff Bank Russia 2007 5 7 3 15.0 1 8 4.5 10 5 2 5 9 18.6 4 3 10 11.3 1 1.0 50.4
7 Suning Bank China 2017 8 8 7 23.0 1 4 2.5 5 4 1 1 10 12.6 4 3 8 10.0 2 2.0 50.1
8 KakaoBank South Korea 2017 5 6 4 15.0 1 8 4.5 2 4 3 2 6 10.2 5 4 10 12.7 6 6.0 48.4
9 ING Germany <2000 3 1 1 5.0 1 6 3.5 6 5 0 6 4 12.6 10 10 9 19.3 6 6.0 46.4
10 Nubank Brazil 2014 8 9 3 20.0 3 6 4.5 0 5 4 1 3 7.8 4 3 2 6.0 6 6.0 44.3
11 Rakuten Bank Japan 2001 4 5 4 13.0 3 10 6.5 4 4 1 2 4 9.0 10 8 4 14.7 1 1.0 44.2
12 aiBank China 2017 10 9 6 25.0 1 5 3.0 1 3 3 1 7 9.0 4 2 1 4.7 2 2.0 43.7
13 K-Bank South Korea 2017 3 6 4 13.0 1 9 5.0 1 3 10 1 3 10.8 4 3 9 10.7 4 4.0 43.5
14 XW Bank China 2016 9 9 6 24.0 1 4 2.5 5 3 1 1 8 10.8 3 2 1 4.0 1 1.0 42.3
15 SBI Sumishin Japan 2007 2 3 3 8.0 1 10 5.5 5 3 1 5 4 10.8 9 7 9 16.7 1 1.0 42.0
16 NBKC US 1999 1 1 1 3.0 1 9 5.0 8 3 0 8 2 12.6 1 1 8 6.7 10 10.0 37.3
17 Marcus US 2016 4 5 2 11.0 1 5 3.0 0 5 1 5 0 6.6 10 10 2 14.7 1 1.0 36.3
18 Sony Bank Japan 2001 2 1 2 5.0 1 10 5.5 4 3 1 6 3 10.2 6 4 10 13.3 2 2.0 36.0
19 Wise UK 2011 4 5 2 11.0 10 2 6.0 5 4 2 3 6 12.0 3 1 1 3.3 3 3.0 35.3
20 C6 Brazil 2019 3 5 2 10.0 1 7 4.0 0 3 10 1 0 8.4 2 2 8 8.0 4 4.0 34.4
21 au Jibun Bank Japan 2008 2 3 4 9.0 1 9 5.0 1 3 1 3 1 5.4 5 4 10 12.7 2 2.0 34.1
22 Revolut UK 2015 5 5 3 13.0 10 9 9.5 0 3 2 1 0 3.6 3 1 1 3.3 4 4.0 33.4
23 SoFi US 2011 2 5 1 8.0 2 10 6.0 0 4 3 7 0 8.4 3 1 1 3.3 5 5.0 30.7
24 Air Bank Czech Republic 2011 1 2 1 4.0 2 8 5.0 5 3 1 6 6 12.6 3 2 7 8.0 1 1.0 30.6
25 N26 Germany 2015 3 4 2 9.0 10 8 9.0 0 2 1 1 0 2.4 3 2 4 6.0 4 4.0 30.4
26 ING Australia 1999 2 1 1 4.0 1 7 4.0 4 4 1 7 4 12.0 6 5 3 9.3 1 1.0 30.3
27 UBank Australia 2008 1 1 1 3.0 1 6 3.5 4 3 1 8 5 12.6 4 3 8 10.0 1 1.0 30.1
28 Chime US 2014 4 5 3 12.0 2 5 3.5 0 4 7 3 0 8.4 1 1 1 2.0 4 4.0 29.9
29 Paytm P Bank India 2017 9 6 5 20.0 1 6 3.5 1 3 0 1 0 3.0 1 1 1 2.0 1 1.0 29.5
30 imaginBank Spain 2016 2 4 6 12.0 1 5 3.0 6 1 1 1 7 9.6 1 1 3 3.3 1 1.0 28.9
31 Tangerine Canada 2012 2 1 1 4.0 1 6 3.5 4 3 1 6 3 10.2 6 5 3 9.3 1 1.0 28.0
32 PayPay Bank Japan 2018 3 3 4 10.0 1 6 3.5 3 3 1 2 2 6.6 4 3 3 6.7 1 1.0 27.8
33 OakNorth UK 2015 1 0 1 2.0 1 5 3.0 6 3 1 10 9 17.4 2 2 1 3.3 2 2.0 27.7
34 Seven Bank Japan 2001 2 2 2 6.0 1 4 2.5 5 4 0 8 3 12.0 4 2 1 4.7 2 2.0 27.2
35 Boursorama France 1995 2 4 2 8.0 1 10 5.5 0 3 1 2 0 3.6 8 4 1 8.7 1 1.0 26.8
36 knab Netherland 2012 1 0 1 2.0 1 10 5.5 0 3 1 8 1 7.8 4 3 7 9.3 2 2.0 26.6
37 Hello Bank! France 2013 2 3 2 7.0 5 10 7.5 0 2 1 2 0 3.0 6 5 1 8.0 1 1.0 26.5
38 Airtel P Bank India 2017 6 5 6 17.0 1 5 3.0 0 2 2 1 0 3.0 1 1 1 2.0 1 1.0 26.0
39 Judo Bank Australia 2018 1 1 1 3.0 1 4 2.5 0 2 8 10 0 12.0 3 1 1 3.3 4 4.0 24.8
40 bunq Netherland 2015 2 1 3 6.0 10 7 8.5 0 1 10 1 0 7.2 1 1 1 2.0 1 1.0 24.7
41 Neon Brazil 2016 5 6 3 14.0 1 6 3.5 0 1 5 1 0 4.2 1 1 1 2.0 1 1.0 24.7
42 Papara Turkey 2016 4 6 5 15.0 1 4 2.5 1 1 2 1 1 3.6 1 1 1 2.0 1 1.0 24.1
43 Starling UK 2015 2 4 1 7.0 1 5 3.0 0 3 1 3 0 4.2 3 3 5 7.3 2 2.0 23.5
44 LINE BK Thailand 2020 2 5 4 11.0 1 4 2.5 0 2 5 1 0 4.8 1 2 2 3.3 1 1.0 22.6
45 PAObank Hong Kong 2020 1 1 1 3.0 1 3 2.0 0 1 10 3 0 8.4 1 1 10 8.0 1 1.0 22.4
46 Curve UK 2018 2 4 3 9.0 10 4 7.0 0 1 3 1 0 3.0 1 1 1 2.0 1 1.0 22.0
47 Monzo UK 2015 2 4 2 8.0 2 7 4.5 0 2 1 1 0 2.4 3 2 1 4.0 3 3.0 21.9
48 Monese UK 2015 2 3 3 8.0 10 6 8.0 0 1 2 1 0 2.4 1 1 1 2.0 1 1.0 21.4
49 TymeBank South Africa 2019 2 5 3 10.0 2 4 3.0 0 1 6 1 0 4.8 1 1 1 2.0 1 1.0 20.8
50 Neo UAE 2017 1 2 6 9.0 1 7 4.0 0 1 3 3 0 4.2 1 1 1 2.0 1 1.0 20.2
51 Liv. UAE 2017 1 1 4 6.0 2 7 4.5 1 1 2 2 5 6.6 1 1 1 2.0 1 1.0 20.1
52 ZA Bank Hong Kong 2020 1 2 1 4.0 1 8 4.5 0 1 8 2 0 6.6 1 1 4 4.0 1 1.0 20.1
53 Uala Argentina 2017 2 4 2 8.0 3 3 3.0 0 1 6 1 0 4.8 1 1 1 2.0 2 2.0 19.8
54 Carbon Kenya 2012 2 5 5 12.0 3 3 3.0 0 1 1 1 0 1.8 1 1 1 2.0 1 1.0 19.8
55 Fino P Bank India 2017 2 4 1 7.0 1 5 3.0 5 3 1 2 0 6.6 1 1 1 2.0 1 1.0 19.6
56 Simplii Canada 2017 2 2 5 9.0 1 6 3.5 0 2 1 1 0 2.4 2 2 1 3.3 1 1.0 19.2
57 CIMB Philippines 2018 2 5 4 11.0 1 4 2.5 0 1 1 1 0 1.8 1 1 2 2.7 1 1.0 19.0
58 Varo US 2017 2 5 2 9.0 1 5 3.0 0 2 1 2 0 3.0 1 1 1 2.0 2 2.0 19.0
59 Toss Bank South Korea 2022 1 4 3 8.0 1 4 2.5 0 0 0 0 0 0.0 4 3 4 7.3 1 1.0 18.8
60 Kuda Nigeria 2019 2 5 4 11.0 1 3 2.0 0 1 2 1 0 2.4 1 1 1 2.0 1 1.0 18.4
61 Monobank Ukraine 2017 2 5 2 9.0 1 8 4.5 0 1 1 1 0 1.8 1 1 1 2.0 1 1.0 18.3
62 Mach Chile 2017 2 3 4 9.0 1 3 2.0 0 1 5 1 0 4.2 1 1 1 2.0 1 1.0 18.2
63 Atom Bank UK 2015 1 1 1 3.0 1 4 2.5 0 1 1 1 0 1.8 2 2 9 8.7 2 2.0 18.0
64 Zopa Bank UK 2020 1 2 1 4.0 1 5 3.0 0 2 5 3 0 6.0 2 1 1 2.7 2 2.0 17.7
65 blu Indonesia 2021 1 4 2 7.0 1 4 2.5 0 1 0 1 0 1.2 1 1 7 6.0 1 1.0 17.7
66 Airstar Bank Hong Kong 2020 1 1 1 3.0 1 4 2.5 0 1 6 2 0 5.4 1 1 5 4.7 1 1.0 16.6
67 ING Bank Philippines 2018 2 4 3 9.0 1 4 2.5 0 1 1 1 0 1.8 1 1 1 2.0 1 1.0 16.3
68 NSDL P Bank India 2017 1 1 1 3.0 1 4 2.5 0 1 10 1 0 7.2 1 1 1 2.0 1 1.0 15.7
69 EQ Bank Canada 2016 1 1 3 5.0 1 5 3.0 0 2 1 1 0 2.4 3 2 1 4.0 1 1.0 15.4
70 Discovery Bank South Africa 2018 1 1 2 4.0 1 4 2.5 0 1 2 1 0 2.4 1 1 6 5.3 1 1.0 15.2
71 Allica Bank UK 2020 1 1 1 3.0 1 3 2.0 0 1 1 1 0 1.8 1 1 9 7.3 1 1.0 15.1
72 Lunar Denmark 2015 1 2 1 4.0 3 8 5.5 0 1 1 1 0 1.8 1 1 2 2.7 1 1.0 15.0
73 LINE Bank Taiwan 2021 1 4 1 6.0 3 4 3.5 0 1 1 1 0 1.8 1 1 2 2.7 1 1.0 15.0
74 Jenius Indonesia 2016 2 4 1 7.0 1 5 3.0 0 1 1 1 0 1.8 1 1 1 2.0 1 1.0 14.8
75 Flowe Italy 2020 1 3 3 7.0 1 5 3.0 0 1 1 1 0 1.8 1 1 1 2.0 1 1.0 14.8
76 Marcus UK 2018 1 3 1 5.0 1 2 1.5 0 2 1 1 0 2.4 1 4 1 4.0 1 1.0 13.9
77 Up Australia 2018 1 1 4 6.0 1 4 2.5 0 1 1 1 0 1.8 1 1 1 2.0 1 1.0 13.3
78 TNEX Vietnam 2020 1 3 2 6.0 1 4 2.5 0 1 1 1 0 1.8 1 1 1 2.0 1 1.0 13.3
79 Ligo Peru 2019 1 3 2 6.0 1 3 2.0 0 1 1 1 0 1.8 1 1 1 2.0 1 1.0 12.8
80 TMWR Indonesia 2020 1 3 1 5.0 1 4 2.5 0 1 1 1 0 1.8 1 1 1 2.0 1 1.0 12.3
81 TIMO Vietnam 2016 1 1 2 4.0 1 6 3.5 0 1 1 1 0 1.8 1 1 1 2.0 1 1.0 12.3
82 TMWR Thailand 2019 1 1 2 4.0 1 4 2.5 0 1 2 1 0 2.4 1 1 1 2.0 1 1.0 11.9
83 meem KSA 2014 1 1 1 3.0 2 6 4.0 0 1 1 1 0 1.8 1 1 1 2.0 1 1.0 11.8
84 KEPT Thailand 2020 1 1 2 4.0 1 3 2.0 0 1 2 1 0 2.4 1 1 1 2.0 1 1.0 11.4
85 Rakuten Bank Taiwan 2021 1 1 1 3.0 3 4 3.5 0 1 1 1 0 1.8 1 1 1 2.0 1 1.0 11.3
86 LINE Bank Indonesia 2021 1 3 1 5.0 1 3 2.0 0 0 1 1 0 1.2 1 1 1 2.0 1 1.0 11.2
87 ila Bahrain 2019 1 1 1 3.0 1 3 2.0 0 1 2 2 0 3.0 1 1 1 2.0 1 1.0 11.0
88 Hala KSA 2018 1 1 1 3.0 1 4 2.5 0 1 2 1 0 2.4 1 1 1 2.0 1 1.0 10.9
89 Pepper Israel 2017 1 1 1 3.0 1 5 3.0 0 1 1 1 0 1.8 1 1 1 2.0 1 1.0 10.8
90 MOX Bank Hong Kong 2020 1 2 1 4.0 1 5 3.0 0 0 0 0 0 0.0 1 1 2 2.7 1 1.0 10.7
91 KOHO Canada 2015 1 2 1 4.0 1 2 1.5 0 1 1 1 0 1.8 1 1 1 2.0 1 1.0 10.3
92 WeLab Bank Hong Kong 2020 1 1 1 3.0 1 5 3.0 0 0 0 0 0 0.0 1 1 3 3.3 1 1.0 10.3
93 YAP UAE 2021 1 1 1 3.0 1 5 3.0 0 0 1 1 0 1.2 1 1 1 2.0 1 1.0 10.2
94 Tonik Bank Philippines 2021 1 2 1 4.0 1 4 2.5 0 0 1 0 0 0.6 1 1 1 2.0 1 1.0 10.1
95 Alex Bank Australia 2021 1 1 1 3.0 1 3 2.0 0 1 1 1 0 1.8 1 1 1 2.0 1 1.0 9.8
96 BruBank Argentina 2019 1 1 1 3.0 1 4 2.5 0 0 1 1 0 1.2 1 1 1 2.0 1 1.0 9.7
97 livi Bank Hong Kong 2020 1 2 1 4.0 1 4 2.5 0 0 0 0 0 0.0 1 1 1 2.0 1 1.0 9.5
98 Bank Zero South Africa 2021 1 1 1 3.0 1 3 2.0 0 0 1 1 0 1.2 1 1 1 2.0 1 1.0 9.2
99 Fusion Bank Hong Kong 2020 1 1 1 3.0 1 5 3.0 0 0 0 0 0 0.0 1 1 1 2.0 1 1.0 9.0
100 Bankiom UAE 2020 1 1 1 3.0 1 2 1.5 0 1 0 1 0 1.2 1 1 1 2.0 1 1.0 8.7

Notes: Scores for ING Global are based on group retail banking. • Scores for ING Australia were adjusted for retail banking. • Scores for digital banks in Japan and payment banks in India reflect FY March 2021 performance data, except for Rakuten Bank, Sony Bank and au Jibun Bank from Japan where scores are based on full calendar year 2021. • User scores for Indian payments banks are based on deposit account holders. • blu by BCA Indonesia is based on data from BCA Digital. • 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