Top 10 European Bank with the Best Digital Banking features

A Comprehensive List of the Best European Bank in Digital Banking Space

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Digital banking has been gaining momentum across the globe with the rise of millennials who are more comfortable using digital devices for their everyday needs. In fact, a recent report by Google and eMarketer revealed that ‘connected consumers’ are a segment of digital users that will continue to grow over the next few years. We have witnessed an increasing number of new digital players entering the financial services industry from all corners of the world. From fintech startups to tech giants, everyone is trying to carve out a niche in this growing market. Let’s take a look at some of the top European digital banking companies.

Nordea

Nordea is a Finnish-Swedish multinational banking and financial services company headquartered in Stockholm, Sweden. It is the largest bank in the Nordic region by market capitalization, and is one of the Top 10 banks in Europe by assets. Founded in 1892 in Finland, the company has been present in most Nordic and Baltic countries for many years, with a notable presence also in the Eastern European regions of the Czech Republic, Hungary and Poland. As of Q3 2018, Nordea had a total market cap of 36.3 billion euros, with estimated annual revenue of 13.2 billion euros. The Company currently employs approximately 28,000 people in more than 30 countries across Europe and Asia. Nordea is one of the best-ranked digital banking companies in Europe and also the leading digital bank in the Nordic region. According to a report by the consulting firm Celent, Nordea was the No. 1 bank in the Nordic region in terms of customer satisfaction in the banking industry.

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Danske Bank

The Danish Bank is one of the oldest banking companies in the world, having been founded in 1871. The bank has been expanding its presence in the Baltic region since the early 2000s, having acquired several Lithuanian and Estonian banks between 2000 and 2009, including the Estonian retail bank Panga Pank, the PVK Bank, and the Danish Baltic Holding Bank. Danske Bank currently holds a market share of about 10% in the Baltic region. The bank’s total assets as of Q3 2018 were 1.8 trillion euros, with estimated annual revenue of 6.1 billion euros. The Company currently employs approximately 43,500 people in more than 50 countries across Europe and Asia. Danske Bank is one of the most popular digital banking companies in Europe, and one of the top-ranked banks in the Nordic region. The bank has made a conscious effort to expand its digital services, especially in the Baltic region, where it has been investing in digital banking solutions for a while now.

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Barclays

Barclays is a British multinational investment banking and financial services company headquartered in London. The Company operates in four segments: Retail Banking and Wealth Management, Corporate Banking and Investing, Africa and Specialty Sectors. Barclays is one of the oldest banking companies in the UK, having been founded in 1690, but only started its digital banking services in 2005. The Company currently holds a market share of about 12% in the UK market. As of Q3 2018, Barclays had a total market cap of 51.3 billion euros, with estimated annual revenue of 23.3 billion euros. The Bank currently employs approximately 94,000 people in more than 50 countries across Europe, North America and Asia. Barclays is one of the most popular digital banking companies in Europe, and the second-ranked bank in the UK when it comes to customer satisfaction.

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German Bank / Deutsche Bank

The German Bank is one of the oldest banking companies in Germany, having been founded in 1880. Today, the bank, also known as Deutsche Bank AG, operates in all major segments of the financial services industry, and is one of the largest banks in the world. The German Bank has been present in the Baltic region since the early 2000s, when it acquired the Lithuanian retail bank Snoras, and the Estonian retail bank Baltija Pank. The Company currently holds a market share of about 12% in the Baltic region. As of Q3 2018, Deutsche Bank had a total market cap of 29.7 billion euros, with estimated annual revenue of 18.4 billion euros. The Bank currently employs approximately 97,500 people in more than 70 countries across Europe, North America and Asia.

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Santander

Santander is a Spanish multinational banking and financial services company headquartered in Madrid. It is the world’s 9th largest bank by total assets, and the largest bank in the Eurozone by market capitalization. The Company currently holds a market share of about 9% in the Baltic region. As of Q3 2018, Santander had a total market cap of 101.7 billion euros, with estimated annual revenue of 55.5 billion euros. The Bank currently employs approximately 96,000 people in more than 50 countries across Europe, North America and Asia. Santander is one of the most popular digital banking companies in Europe, and the third-ranked bank in the UK when it comes to customer satisfaction.

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BNP Paribas

BNP Paribas is a French multinational banking and financial services company headquartered in Paris. It is the world’s 6th largest bank by total assets, and one of the largest banks in Europe. BNP Paribas has been present in the Baltic region since the early 2000s, when it acquired the Lithuanian commercial bank Snoras, as well as several major retail and commercial banks in Estonia. The Company currently holds a market share of about 18% in the Baltic region. As of Q3 2018, BNP Paribas had a total market cap of 112.7 Billion euros, with estimated annual revenue of 68.9 Billion euros. The Bank currently employs approximately 115,000 people in more than 85 countries across Europe, North America and Asia.

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HSBC

HSBC is a British multinational banking and financial services company headquartered in London. It is one of the world’s largest banks by total assets, and the largest in Europe. The bank has been present in the Baltic region since the early 2000s, when it acquired the Estonian retail bank Panga Pank. The Company currently holds a market share of about 10% in the Baltic region. As of Q3 2018, HSBC had a total market cap of 111.6 billion euros, with estimated annual revenue of 78.4 billion euros. The Bank currently employs approximately 266,000 people in more than 70 countries across Europe, Asia and the Middle East. The digital banking services of HSBC are among the best in Europe, and the bank is currently ranked as the fourth-best bank in the UK.

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Credit Agricole Group

The Credit Agricole Group is a French multinational banking and financial services company headquartered in Lyon. It is the world’s 16th largest bank by total assets, and the third-largest bank in France. The company has been present in the Baltic region since the early 2000s, when it acquired the Lithuanian commercial bank Norvik, and the Estonian retail bank AS Panga Pank. The Company currently holds a market share of about 10% in the Baltic region. As of Q3 2018, Credit Agricole Group had a total market cap of 15.5 Billion euros, with estimated annual revenue of 15.2 Billion euros. The Bank currently employs approximately 129,000 people in more than 80 countries across Europe, Latin America, Africa, Asia and the Middle East.

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Summing up

Digital banking has been gaining momentum across the globe with the rise of millennials who are more comfortable using digital devices for their everyday needs. We have witnessed an increasing number of new digital players entering the financial services industry from all corners of the world. From fintech startups to tech giants, everyone is trying to carve out a niche in this growing market. 



Disclaimer: 

This article is purely my personal thoughts on the subject area and my interest based on the references that I came across with. It is my personal view and my blogging journey that I wish to share if the information makes sense and a reference. This article has no relation with my previous and current employer. Thank you for reading. 

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