Methodology:

• The listing is not exhaustive. The focus was on the top tier players in key market and region and for those where data were publicly available.
• The period under observation for each institution varies but overlap with the core period between 2017 and 2018.
• Data reflect gross onboarding and acquisition figures, but does not account for net growth, which discounts for attrition
• Digital users per month are based on the growth of registered digital users, which includes internet and mobile only, regardless whether these were directly digitally acquired, in the case of neo banks, platforms or digital banks, or digitally onboarded into mobile and internet banking, which often is the case for commercial banks.
• ‰ of total population is defined as the growth of digital users per month divided by total country population and measured in per mille = 1/1000.
• To determine ‰ for multi-regional FIs, the aggregated number of country populations were taken into account.
• The data do not reflect the quality of those digital accounts in regards to active accounts.
• As for digital-only banks, the data do not tell how many of those onboarded were sourced from the parent bank.
• The cause for the large differences in client acquisition per month between digital FIs in the same market is not performance but different market positioning. For instance, WeBank in China focuses on individual clients and consumer financing, while Mybank’s target segment is serving micro and small enterprise (MSEs), hence the smaller numbers.