A comprehensive new study by DECTA reveals that the vast majority of digital banking users are reluctantly maintaining multiple financial apps due to feature gaps in their primary platform, with 91% stating they would consolidate to a single app if it met all their needs.
The "Wallet Fatigue 2025" study, based on survey responses from over 1,500 users across the UK and Europe plus analysis of 50,000+ app reviews, reveals that having multiple financial apps is predominantly a forced necessity rather than personal choice. The research found that 60% of users add a second finance app specifically because their primary app lacks essential features, while an overwhelming 91% would gladly consolidate to a single solution if it offered all needed functionality.
Key Study Findings
Feature Gaps Drive Multi-App Adoption
60% cite missing features as the primary reason for adding additional finance apps
Security, integration, and budgeting tools are the most commonly missing features, each cited by over 45% of users
52% of users who supplement their main app say budgeting and spending analysis features are lacking
Multiple Apps: Necessity, Not Choice
The study's most striking finding addresses a fundamental assumption about consumer behavior in digital banking. When asked if they would stop using multiple apps if their primary app added all needed features at no extra cost, an overwhelming 91% answered "yes" - revealing that multi-app usage is predominantly driven by necessity rather than preference.
91% would switch to one comprehensive app if it offered all needed features
Only 2% prefer maintaining multiple apps by choice
Nearly all multi-app users are maintaining multiple services reluctantly
Tech Proficiency Impacts Satisfaction
Advanced tech users are most satisfied with single-app solutions, with 85% reporting high satisfaction
Intermediate tech users average the highest number of apps at 2.1 per person
Basic tech users stick to simpler setups, averaging just 1.1 apps
Reliability Concerns Fuel Backup App Usage
39% of negative app reviews cite poor customer support, account freezes, or verification issues
Many users maintain secondary apps as "insurance" against primary app failures
54% of all reviews for major digital banks reflect negative experiences
The Hidden Cost of Feature Fragmentation
The research reveals that multi-app usage creates significant friction in users' daily financial management, with 80%+ reporting at least occasional confusion about where key information is stored across different platforms. This fragmentation isn't driven by consumer preference - it's a forced necessity created by incomplete feature sets in individual apps.
The study found that daily spending users - those who rely on finance apps for everyday transactions - still struggle with this fragmentation. While 57.5% manage with one app, 42.5% use multiple apps, with 74% citing missing features as the primary driver.
Industry Implications
The findings suggest significant opportunities for financial service providers to capture market share by addressing feature gaps that currently force users to maintain multiple apps.
The most in-demand missing features include:
Integration capabilities (cited by 60% of advanced users)
Advanced security tools (mentioned by over 50% across all user types)
Comprehensive budgeting and analytics (the #1 feature gap overall)
Better rewards and cashback programs
Reliable customer support and account stability
About the Study
The "Wallet Fatigue 2025" study was conducted over six weeks between April and May 2025, combining quantitative survey data from 1,539 qualified respondents across the UK and Europe with qualitative analysis of over 50,000 user reviews from the top five digital banking apps by user base (Revolut, N26, Wise, Monzo, and Monese).