Mobile banking applications were rated according to the following criteria:
- Google play store rating
- Application update cycle (when was the application last updated)
- Number of downloads
- Current application version
- Number of reviews
- Application bundle size
- Minimum supported version of android
The above criteria were given weights based on how important they are in the financial services sector, for example how frequently the application is updated carries more weight than the number of reviews the application has received since a more frequently updated application means there is less risky for bugs and security flaws.
All data on reviews and downloads are based on the google play store. The android operating system has more than 85% market share worldwide according to IDC in Zimbabwe the Android OS has 85.26% market share according to StatCounter and should therefore a reflective of the trends in the mobile banking space.
Stanbic Bank, Ecobank and Standard Chartered bank do not have applications specific for the Zimbabwean market, their applications serve other countries as well and this has resulted in some skewed data since the number of reviews and downloads includes data from other countries that they operate in.
|Banking Application||Points Scored|
|First Capital Bank||42|