Latest app market numbers highlight the monumental growth of mobile finance apps, suggesting more people in more countries are reaching to mobile and apps to do more than spend and send money. But not every bank is destined to win big. Smart, mobile-first fintech companies are stealing the lead on bricks-and-mortar retail banks that have been slow to introduce apps that make money management a no-brainer and inspire females to take control of their financial future. In fact, new data from Apptopia, which provides services in app analytics, data mining, and business intelligence for the mobile industry, reviews the user data produced by several leading mobile investment apps to argue “lopsided demographics” (more male users than female) represents both “a challenge and opportunity” for the industry.
The stakes are high now that mobile apps are becoming what app market data provider App Annie calls the “channel of choice” for a global audience of consumers united in their desire for apps that demystify personal finance and investing. What’s more, a recent Google-Ipsos study finds that 4 in 10 smartphone owners are using their devices to conduct finance activities, thus driving a significant amount of traffic to mobile finance apps.
The outcome is what Morgan Stanley calls an app “battleground,” a fiercely competitive landscape where marketers armed with data to understand and engage their customers have the best chances of growing their app and their audience. The Liftoff 2018 Mobile Finance Apps Report covers the bases to do both. Drawing from internal data spanning 8.7 billion ad impressions across 2.6 million app installs, 102 million clicks and 1 million activations and registrations, the report helps marketers make data-informed decisions about their campaigns.