Financial Services Nov 21: Battleground App


Banks, insurance companies, SOFOMs and other financial institutions in Mexico are undergoing a digital transformation to improve their offerings and win a very competitive market. More and more people have access to digital transactions: from making online payments to applying for credit in minutes. To improve these applications, application teams must have a clear idea of where they stand in their market.

Status of financial services applications in Mexico, November 21.

This is why we conducted a first analysis of the supply in Mexico and obtained very interesting results. Not surprisingly, categories such as digital banking and traditional banking top the charts. After all, banks are the oldest applications in the sector, with BBVA Mexico being the oldest application.

Digital banks or digitalized banking?

On the one hand, digital banks and fintechs seek to position themselves with disruptive offers aligned to the new generations. On the other hand, Covid accelerated the digitalization of the teller window for traditional banks and many of them renewed their channels. We have also seen the birth of the famous “Super Apps” that integrate the entire offer from a single point of contact.

In the digital world, Nubank (4.73⭐) leads in downloads and Stori (4.74⭐) holds the best rating in both categories. Meanwhile, BBVA (4.54⭐) leads a fierce battle against Citibanamex (4.49⭐) and Banco Azteca (4.43⭐) to be the best traditional banking application.

Save or borrow? Therein lies the dilemma

In addition, there is a wide range of apps and online lending solutions at the top of the ranking. This is the case of Tala ( 4.88⭐) and Konfío (4.73⭐) which are ranked 1 and 5 in the analysis. It is worth noting that most of the loan applications are above the average rating.

However, other categories are not as fortunate; such is the case of the afores that are below the average rating.

For investments Bitso(4.41⭐), GBM+(4.24⭐) and Actinver’s DINN (4.27⭐) are the clear leaders with downloads and score, although it is worth noting the work that Skandia (4.67⭐) has done to keep its user base happy, although smaller.

Not so safe insurance

With a category rating of 2.82⭐, insurers have a lot to sort out in terms of their digital offering. The only application with a score above 4 is Chubb (4.04⭐). Collectively this is the oldest category in the analysis but also one of those where the most days pass between updates.

Mature digital services

In the digital services category, Mercado Pago ( 4.66⭐) is positioned as the leader in downloads; meanwhile, Clip (4.8⭐) is ahead of the Argentine company in score.


Some of these applications are the product of well-coordinated efforts and planning. These are rewarded by users not only in ratings, but also in downloads, reviews and other indicators. Other apps seem to be hasty responses to trends that almost always bring lousy results: a negative score, a bad experience and losing market share to the competition.

As managers of this digital offering, we must ask ourselves: how can we design more satisfying user experiences? Are we taking advantage of all the information available to us? And more importantly, are we really listening to users?

At enacment we can help you identify these gaps and design better application strategies.

Complete board

In order to interact with the board and navigate between the different sections, we recommend using a computer or tablet:

About Battleground App

App battleground are dashboards and indicators to compare applications and understand their user acceptance. A comparison of the apps in the stores, but with a business sense.

You can read more about the project in this link: App Battleground – Enacment

To read more about the metrics that impact apps the most, you can read The most important metrics of your web or mobile app.

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