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Invest in success with finance app marketing data and insights
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Alix Carman, Content Writer, Adjust, Sep 10, 2024.
As the finance and fintech app industry continues to expand globally, it offers both significant challenges and opportunities for app marketers and developers. The key to scalable growth and success in this competitive space lies in navigating the complexities of user acquisition, enhancing security measures, and leveraging next-generation technologies like AI, machine learning, and even blockchain.
For finance apps, maintaining usability, stability, and security is crucial to avoid losing users and market share. Moreover, crafting a robust marketing mix and personalizing user experiences, can significantly impact your app's growth trajectory. So too can taking a leaf out of other app verticals’ books by diversifying monetization models (and revenue streams).
The finance app insights report: Deep-dive into scalable user acquisition provides an in-depth analysis of these critical areas. Coupling Adjust data with expert insights, this report equips you with strategies to master finance app marketing in 2024 and beyond. Download the full report or continue reading for our top level look at the trends, best-performing regions, and leading finance app categories.
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Key growth areas for finance apps
The past few years have been transformative for the finance app industry. After a challenging period in 2022 and early 2023, the sector began to recover, with global finance app installs increasing by 45% YoY from 2022 to 2023. The momentum continued into 2024, with Q1 installs up 36% YoY and sessions increasing by 23% globally.
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Specific finance app subverticals stood out in 2023. Bank app installs, for example, jumped by 82% YoY, reflecting increased trust in digital banking, while crypto app installs climbed by an impressive 196% YoY. Regionally, MENA led the way with 79% YoY growth in installs, driven by local development and AI integration. Despite a previous downturn in North America, the region is showing promise in 2024, with bank app installs rising by 11% YoY and stock trading apps seeing a 44% increase.
These trends reflect the diverse mobile usage patterns and user preferences across different regions and underscore the importance of tailoring app experiences to meet these varying needs.
Finance app retention and engagement
Retention remains a crucial metric for evaluating the success of finance app marketing. In 2023, the global median day 1 retention rate for finance apps was 20%, dropping to 9% by day 30. Stock trading and bank apps performed better, starting at 23% and 22% on day 1, respectively, and ending at 12% and 10% by day 30.
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Regionally, North America showed lower retention rates, highlighting the need for targeted strategies to improve long-term engagement. In contrast, regions like Europe and APAC, despite a sharper drop by day 30, started strong.
Sunkyu Lee
CEO, Martinee
For app marketers and developers, enhancing user experiences through personalization, improving onboarding processes, and using gamification can help boost retention rates and keep users engaged for longer.
Read more about powering up fintech app performance with gamification.
Revenue is on the rise for finance apps
Despite the challenges faced in 2023, the finance app industry saw a significant increase in in-app revenue (IAR), which grew by 119% YoY in Q1 2024. Europe led with the highest average revenue per monthly active user (ARPMAU) at $3.06, followed closely by MENA at $2.96. North America had the lowest ARPMAU at $2.39, indicating potential areas for improvement in user monetization.
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For finance app marketers, focusing on effective monetization strategies tailored to user behavior and preferences in different regions—and among different cohorts and segments—is essential. Leveraging data analytics for targeted monetization, optimizing for in-app purchases, and even exploring subscription models can all help maximize marketing performance and ensure the success of your finance app.
To learn more about growth opportunities in the finance app space and how you can scale your app in 2024, secure your copy of The finance app insights report today.
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