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The Rise of Super-Apps: Are Banks Losing Ground?

Super-apps are changing the way people pay and access services in their daily lives. The integration of payments, investments, and other services in one single app is becoming increasingly popular, making banks question their place in the financial market.

In this blog, we’ll explore the capabilities of super-apps, their impact on traditional banks, and whether banks should be worried about their competition or embrace it as an opportunity for growth.

What are Super-Apps?

Super-apps are multi-functional platforms that allow users to perform multiple tasks in one app, such as paying bills, ordering food, and more.

In Asia, platforms like Alipay and WeChat have revolutionized the way people pay, with a seamless and user-friendly interface.

Meanwhile, in India, Paytm is leading the way with bill payment services, QR-code payments, and other useful features. In Southeast Asia, Grab is helping users by integrating package delivery services, food ordering, and financial services such as forex investing and loans.

Super-Apps and the Unbanked

Super-apps are also a solution for the unbanked population, providing them with access to financial services that conventional banks often cannot offer.

By solving a wide range of needs in users’ lives, it’s only natural for super-apps to provide financial solutions even for those without a bank.

Banks Worried About Competition

The branching out into payment systems, loans, and investments is what has banks concerned about super-apps entering their territory.

Super-apps can easily gather data and patterns about their users and provide customized financial services, something that banks often struggle to do.

This makes them a competitive threat to traditional banks.

From Bank Apps to Banks in Super-Apps

Banks are considering providing “banking as a service” within the super-app ecosystem, recognizing that super-apps can deliver financial services with unparalleled reach and efficiency.

Open-banking could power the super-app ecosystem and empower users with personalized experiences, AI technology, and traditional banking operations without ever having to leave the app.

Super-Apps and Banks: Friend or Foe?

The question remains whether banks should see super-apps as a threat or as an opportunity for growth. Given the multiple products and services offered in super-apps, banks may struggle to incentivize users to use their proprietary app.

The best solution for banks may be to bolster their reach through partnerships and collaborations within the financial service industry, modernizing themselves and exploring new technologies like machine learning and AI.


Super-apps are changing the way people pay and access services in their daily lives, posing a competitive threat to traditional banks.

However, banks have the opportunity to embrace this change and collaborate with super-apps to enhance their reach and relevance in the financial market.

Time will tell whether banks and super-apps can work together to create a better financial future.

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