S-Net Mobile awarded best mobile banking application in the country

A recent independent study, conducted by SIA Partners, named S-Net Mobile the best mobile banking application in Luxembourg. We took the opportunity to speak to Daniel Madariaga, Deputy Head of Business Innovation Office, and Christophe Medinger, Deputy Head of Digitalisation, at Spuerkeess, to find out more about how the teams in charge of S-Net achieved this success for the third year running.

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Daniel, can you tell us briefly about the benchmarking study in which S-Net Mobile emerged as the best mobile banking application in the country?

The benchmark is in fact an evaluation of different banking applications from an end-customer perspective. As this benchmark is carried out at regular intervals, it allows banks to compare the development of their application with the direct competition and the overall market development.

It is important to note that this exercise is not commissioned by the banks and there is no charge for participation, which allows for an objective and unbiased judgement.

In practice, the consultant analysed our S-Net Mobile application and evaluated it according to his own criteria. The focus was on general feedback from users via the Apple and Google stores, the range of different features on offer, ease of use and love of detail, all of which ultimately make the difference in the day-to-day use of an App.

To define each bank's final score, the results were weighted according to different factors, and this year the focus was on AI, ESG and Accessibility.

We are proud to announce that in the SIA Partners study, S-Net obtains the best result in Luxembourg. On a global level, S-Net is ranked among the digital challengers.
Daniel Madariaga

Considering the colossal resources available to large foreign banking groups and the degree of innovation attributed to neo-banks, we can be extremely proud of this result. The study showed us how quickly the market is evolving and the extent to which this pace is being imposed by neo-banks such as Revolut, which are increasingly finding themselves in a position of direct competition with us.

Of course, we hope to further improve our position in the benchmarks of the various studies, but what matters most to us is the satisfaction and trust that our customers place in us every day.

Our ambition is to be among the best. That's why we're focusing on the user experience, listening to our customers and continuing to innovate.

Daniel, what do you think is the recipe for S-Net Mobile's success?

At Spuerkeess, we have put in place a co-creation approach with our customers and we regularly organise interviews with them to identify their needs and expectations. For me, the success of S-Net is the fruit of this long process of co-creation with our customers and a passion shared by our teams.

In fact, the proof that the application meets our customers' needs and expectations is the trust and loyalty shown by our 315,000 S-Net users.

We are proud to see that this benchmark honours the efforts made by Spuerkeess in recent years in terms of investment in digitalisation and innovation. Our agents in our branch network play a crucial role in helping our customers adopt these new digital services.

As a team, this ranking motivates us even more to surpass ourselves every day to best meet the growing needs of our customers.

According to SIA Partners, S-Net Mobile offers many more features than competing applications and the gap between the 2023 and 2024 studies has widened significantly. Christophe, can you tell us more about these innovations that made the difference?

It is undeniable that S-Net offers the most complete range of services in Luxembourg, not only in terms of basic functionalities, but also in terms of more advanced functionalities such as our Personal Finance Manager (MIA), our digital lending solutions and our SpeedInvest robo adviser.

We were the first bank in the market to offer the aggregation of accounts held with other banks such as BIL, BGL, Raiffeisen and many others. Since then, we have been continuously expanding our offer. For example, we have recently integrated French, German and Belgian banks.

Spuerkeess is also the only bank to offer a relationship that is 100% digital. Last year we also added home loan applications and Google Pay to our App.

You and your teams certainly have other innovative ideas and projects in store. Christophe, can you give us an overview of the features and innovations that users can expect in the coming months and years?

In response to requests and suggestions from our customers, and inspired by the best applications on the market, this year we launched our project to completely overhaul our application. From its update to its ‘look and feel’, our project will be carried out over a number of years, including production roll-outs in stages.

At the same time, we will continue to extend our ‘beyond banking’ services by working with partners to make new services and products available in the S-Net application. We are also keeping a very close eye on developments in WERO (the European initiative for digital payments) and are actively participating in European digital identity projects (EIDAS 2) with the Ministry for Digitalisation. Our aim is to offer our customers services that we believe will represent the future of the digital financial world.

We will continue to extend our ‘beyond banking’ services by working with partners to make new services and products available in the S-Net application.
Christophe Medinger