Expense managing app Spending Tracker is the best-rated finance app, according to the new report, “How Consumers Rate Their Finance Apps,” released today from research group Application Resource Center by Applause App Quality Inc.

With about 6,500 finance apps between Google Play and the Apple App Store, the research group analyzed 45 of the most popular finance apps, which it selected based on the number of consumer reviews the apps had between the two app stores. It included apps that had at least 5,000 reviews. It then rated finance apps in the following categories: banks, expense managers, payments, personal finance and taxes.

ARC assigned a numerical score 0-100, which determines the app’s rank, to each of the apps based on factors it analyzed, including ratings in the store, content, elegance, interoperability, performance, pricing, privacy, satisfaction, security, stability and usability, says Ben Gray, digital experience analyst at Application Resource Center and the author of the report. The scale weighs elegance, stability, security and satisfaction heavily in app scoring, Gray adds.

Overall, the best-rated apps across all the categories were Spending Tracker (86.5), Credit Karma (84), Goodbudget Budget Planner (83), Redfin (80) and Capital One Wallet (80).

These apps are rated highly because they serve customers in their moments of need, and thus create loyal and passionate fans to their brand who leave good reviews, Gray says. In fact, many of the top-rated apps have well over the study’s 5,000 review minimum. Personal Finance app Credit Karma app has 91,961 Android reviews and 54,074 iOS reviews, and money managing app Mint has 23,435 Android reviews and 71,507 iOS reviews.

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“Having the ability to check balances and activities, transfer funds, pay bills, deposit checks and locate ATMs and branches goes a long way to keeping your brand and apps essential and integrated into every customer’s everyday lives,” he says.

The high score for Credit Karma, which provides free access to credit scores and reports with context and education, such as guiding a consumer through the report, is likely because of its ease of use, such as a pre-filled application information to reduce manual entry, Gray says. Credit Karma also highlights its security measures to put consumers at ease.

The top three apps in the banks category were Citizens Bank Mobile Banking (66.5), Chase Mobile (62.5) and Discover Mobile (62.5). These apps are fast to open and to navigate between app pages, so performance is rarely an issue, Gray says.

Overall, the worst-rated finance apps across all the categories were Ally Mobile Banking (32.5), HSBC Mobile Banking (29), Citi Mobile (28.5), PNC Mobile Banking (27) and Money Network Mobile App (25).

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While conducting usability audits with customers and experts and fixing bugs is important, brands need to think more long term in their app strategy approach, Gray says. Citibank, Gray adds, may rank low now, but its recent iOS app update looks promising, as the update supports the Apple Watch, has security finger print Touch ID access and a redesigned navigation.

Application Resource Center regularly measures mobile apps based on app store ratings, consumer reviews and other metrics relevant to industry verticals. ARC recently rated Booking.com, Alaska Airlines, Kayak, TripAdvisor and TripIt as the top travel apps and Fanatics, Domino’s Pizza Inc., Groupon Inc., HauteLook and Overstock.com as the top retail apps.

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