Challenger Bank UX: Mercury Shines with Startup Focused Website

Challenger Bank UX: Mercury Shines with Startup Focused Website

It takes just seconds to see that Mercury is not a typical small-business bank. Here are its top-10 differentiating features from Wells Fargo, Bank of America, and thousands of other traditional banks and credit unions. Here are nine things on its homepage that you won’t find at the vast majority of business banks.

  1. Clear market message to growing businesses (not even mentioning small, instead saying “startups of all sizes”)
  2. Distances itself from being thought of as a bank (“we are a financial technology company, not a bank”)
  3. Asks for just an email to get started
  4. Calls the sales department “sales” instead of the less understandable “new accounts” or “business bankers”
  5. Top nav has “product” instead of financial terms like “checking”
  6. Has a great product demo, which is the first item on the Product menu
  7. Transparent pricing, the second item on the Product menu
  8. Offers Venture Debt and is easily tracked through a specialized dashboard (see previous post)
  9. Includes built-in API access to your account

Mercury was started in 2017 in the SF Bay area and has seen rapid growth in both website visitors and customers. According to Similarweb estimates the site attracted 1.4 million visits in September (2022), an increase of 5x in the past 18 months (ref: 280,000 in December 2020). The company has been #1 on our SMB challenger bank list since becoming a unicorn with a $120M round in July 2021 (see note 1 below).

Company Vitals

Mercury Technologies
FAB Score = 347 (as of 15 Nov 2022; see notes below)
Rank = 1
– HQ: San Francisco Bay Area
– Founded: 2017
– Banking services partners: Choice Financial Group; Evolve Bank & Trust
– Raised $152M (Crunchbase) including $120M in 2021
– Valuation: $1.7B (based on July 2021 round)
– Website visits: 1.4 million (Sep 2022; SimilarWeb)
– Employees: 383 (Pitchbook)
– Articles: 14 (Crunchbase)
– Linkedin: 15,300 followers (750 employees)
– iOS app: 4.8 (872 reviews)
– Trustpilot: 3.9 (486 reviews)

  1. How the FAB Score is calculated: As nerds do, we are developing a proprietary score measuring the adoption of private digital financial services companies. Since most do not release traditional metrics (# customers, deposits, AUM, etc) we rely on third-party estimates of website traffic, app downloads, as well as publically reported funding (equity + debt). We call it the FAB score, standing for Fintech Attention Barometer. It’s a work in progress, so expect changes in the formula.
  2. Disclaimer: We personally write and stand by everything published here. We receive referral revenues from certain companies which can impact their positioning on the site. At the time of publication, Mercury is one of our partners.
Graphic ad

FAB Score*FoundedFunding $M
http://fintechlabs.com/wp-content/uploads/2021/12/Murcury-logo-square.jpg307SF2017$152
http://fintechlabs.com/wp-content/uploads/2022/01/Novo-logo-square.jpg297NYC2016$136
http://fintechlabs.com/wp-content/uploads/2021/12/Found-logo-square.jpg185San Francisco2019$75
http://fintechlabs.com/wp-content/uploads/2021/12/Relay-logo-square.jpg57Toronto2018$19
http://fintechlabs.com/wp-content/uploads/2021/12/Northone-logo-square.jpg44NYC2016$23
See Full List
FAB Score*FoundedFunding $M
National_Funding_logoAd1999105San Diego
Clearco logo3642015682Toronto
Nav2302012$92Utah
Fundera Logo93201318.9NYC
Capchase-logo-square4812020$945NYC
See Full List
Last Updated: August 2021
CompanyFAB Score*FoundedFunding ($M)
Divvy1802016$418Utah
Ramp8642019$1,360NYC
Brex6492017$1,457SF
Expensify5202008$401SF
Jeeves-Logo2142019$368NYC
See Full List
Updated June 2021
FAB Score*FoundedFunding ($M)
2302016$881SF
1222017$520SF
802017$306Wash DC
632005$0London
392015$142SF
See Full List
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