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AppsFlyer report finds almost one-third of finance installs in the United States are digital banking apps that provide an alternative to traditional banks
SAN FRANCISCO–(BUSINESS WIRE)–AppsFlyer, the global leader in mobile attribution, today released the 2020 edition of The State of Finance App Marketing: 2020 Global & US Trends. According to the report, globally, finance apps accounted for 5% of app downloads in 2019. Finance apps topped the charts as the second largest category for number of apps and sixth largest for total installs, providing fertile ground for innovation of traditional players and rise of mobile-first competitors.
“The finance app industry is in the midst of staggering growth in global adoption, from 16% in 2015 to 64% in 2019, which is putting pressure on marketers to uplevel and digitize user acquisition and experience,” said Shani Rosenfelder, Head of Content & Mobile Insights, AppsFlyer. “Our latest analysis finds several key trends, including that digital banking alternatives are steadfast rivals to traditional legacy options, install and post-install fraud are rampant detractors of marketing ROI and user experience is paramount to immediate action.”
Notable US Insights
“The financial services industry is in a critical stage of innovation, and it’s up to marketers to beat the array of competition,” said Doug McMillen, Vice President Enterprise Strategy, AppsFlyer. “There is more pressure than ever for this innovation to be mobile-first to meet the ubiquity of mobile payments and global consumer demands for on-the-go access. With this report, marketers have insight into how to direct their app marketing spend, prioritize user acquisition and measure success so they can stay competitive.”
The Coronavirus Effect
The State of Finance App Marketing’s 2020 edition is based on data that preceded the global outbreak of COVID-19. As response to the pandemic requires many people across the globe to stay at home, app usage in many verticals is currently on the rise. In finance, AppsFlyer anticipates several scenarios that could play out:
For more information on the impact Coronavirus is having on the app market, visit AppsFlyer’s regularly-updated report: The Coronavirus Impact on App Installs and Marketing Budgets.
The State of Finance App Marketing: 2020 Global & US Trends is available at: https://www.appsflyer.com/resources/finance-app-marketing-us/.
Methodology
The State of Finance App Marketing in the United States from AppsFlyer is an anonymous aggregate of proprietary global data from 4.6 billion app installs across 3,000 apps. Of this, 180 million non-organic app installs across 600 apps were specific to the US. For the purposes of analysis, apps were grouped into the following sub-categories:
About AppsFlyer
AppsFlyer, the global attribution leader, empowers marketers to grow their business and innovate with a suite of comprehensive measurement and analytics solutions. Built around privacy by design, AppsFlyer takes a customer-centric approach to help 12,000+ brands and 6,000+ technology partners make better business decisions every day. To learn more, visit www.appsflyer.com.
Contacts
Kenya Hayes
kenya.hayes@appsflyer.com
(703) 589-7595
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