• Nearly a quarter of Brits admit to only ‘ somewhat trusting ’ the finance apps on their phone

• Over half of Brits have at least one finance app on their phone

• Barclays crowned the easiest to use mobile app

New research undertaken by leading UK mobile specialists , Apadmi , has revealed that a quarter of Brits believe finance apps are in ‘ need of improvement ’.

Surveying 1,000 users , the mobile specialists have compiled The Apadmi Finance App Report 2024 , which uncovers how we interact with finance apps and the ways in which such platforms can be improved .

Despite finance apps being incredibly popular , almost one in four ( 23 %) users only somewhat trust their finance apps , indicating a need for better trustbuilding measures .

According to the findings , nearly three in ten ( 28 %) cite security concerns as the primary reason for not using finance apps .

Additionally , two in five ( 40 %) of nonusers still prefer visiting branches or post offices , highlighting a preference for traditional banking methods .

Aside from the drawbacks , the report also unveils that finance apps have become central to personal finance management , with over half of users ( 52 %) having at least one finance app on their phone .

What ’ s more , almost two-thirds ( 58 %) engage with their finance apps daily , showing that finance apps have seamlessly integrated into users ’ routines .

When it comes to the easiest-to-use mobile banking apps , Barclays is crowned the winner , with respondents favouring its intuitive design and comprehensive features .

Commenting on the overall findings , Marcus Hadfield , Chief Strategy Officer at Apadmi , said : Our findings highlight key areas for improvement , particularly in enhancing security and building trust . Users seek more robust security measures , better design , and personalised features . Addressing these needs will significantly improve user experience and satisfaction .

Monzo has also been named the best mobile app for budgeting and tracking money , along with Moneybox as the most popular app for investing .

Please find the full findings here .

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