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Best banking app of 2021 revealed

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AccountingWEB members and business threw their weight behind the banking/accounting software hybrid Countingup in the 2021 Software Awards to ignite what will be a fascinating race over the next couple of years.

9th Feb 2022
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The transition to Making Tax Digital is predicated on digital record-keeping and an underlying assumption that small business people will enter this new world via the convenience of smartphone apps. Reconciling sales and receipts with imported bankfeed data will make life easier for businesses and their accountants. Similar growth has also been registered in the Data & Expense Management category.

The Countingup model eliminates the duplication by capturing and categorising transactions within the bank account itself. But other digital banks are available, led during the past year by the growing presence of Starling alongside Cashplus, which has quietly developed a network of accountant partners in recent years.

The most interesting feature of this category in 2021 is the appearance of several high-street banking brands, led by NatWest Group. Previous years the Big Nine were nowhere to be seen in these annual polls. With FreeAgent extending its reach considerably in AccountingWEB’s territory, NatWest has forged ahead of Barclays, Lloyds and Santander.

But there are still several million prospects for digital banking apps between now and MTD-day in 2024. The race is on to see if Countingup can build out its innovative approach, or if any of the other contenders can capture a bigger share of this emerging market.

Rank

Product

% vote

Trend

1

Countingup

44.1%

2

Starling

11.1%

3

NatWest

  9.0%

4

Barclays

  5.2%

5

Cashplus

  4.6%

6

Satago

  4.4%

7

Lloyds

  3.1%

8

Santander

  2.8%

9

Monzo

  2.6%

Awards methodology

Throughout the year AccountingWEB members are invited to nominate their favourite apps across 10 categories. Those votes are compiled into rankings on which the awards are decided. The trend indicators in the table above are based on rankings within the category, or where they haven’t changed by the number of rankings achieved compared to the previous awards.

The polls are already open for this year’s awards, so if you’d like to have your say:

Vote for your favourite software here

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