Marketing measurement company, AppsFlyer, has released its 2021 edition of The State of Finance App Marketing. According to the report, Financial Technology (FinTech) apps are in high demand, experiencing a 132% leap globally in downloads since 2019, with the UK having seen a 129% increase in the last year alone.
-FinTech apps are in high demand, increasing significantly over the last two years with a 132% leap in global downloads between Q1 2019 to Q1 2021. The UK specifically has seen a 131% rise in downloads between 2019 and 2020, and a 129% increase between Q1 2020 and Q1 2021.
-Marketing driven installs soared by 300% in the UK between Q1 2020 and Q1 2021, leading the charge in Western Europe with Germany following at 230%. The average rise across the region was 170%, which is the result of marketers running aggressive acquisition campaigns in the last year.
-Demand for investment apps has surged, with installs climbing by 61.4% in the UK in the last year alone. This was followed by financial services apps (24.8%) and digital banking apps (13.8%). Investment apps are a fast-growing vertical because of the rise of the stock markets with the biggest growth in demand seen in the UK, Germany, Russia and Turkey.
-App spend grew over two thirds in the UK, with the average spend per app between Q2 2020 and Q3 2020 climbing 70%, as the CPI increased by 57%. By Q1 2021, the high CPI led marketers to reduce spend, dropping by 26% with the CPI following suit with a 24% decline.
-Fraud rate dropped by 77% in EMEA between Q1 2020 and Q1 2021, and decreased by a significant 88% in Russia and 81% in the UK. With greater awareness of fraud among marketers and stronger anti-fraud solutions, finance apps have made great headway in tackling app install fraud.
-Digital banking installs up 45%, while traditional banks gain 22% in 2021. Finance app installs increased 20% overall, but financial services and traditional banking app installs saw only a 15% increase between Q1 2020 and Q1 2021. However, only in the first quarter of 2021, traditional banks picked up speed with a 22% rise in installs.
-3.3x growth in the number of remarketing conversions between Q1 2020 and Q1 2021. Following a 32% drop in spend in Q2 of 2020, efforts rebounded in Q3 and with rising user acquisition costs, marketers increased activity in remarketing, which soared 3x by Q1 2021. Overall, the growth path of non-organic installs continued upward, hitting 172% growth between 2019 and now.
-Demand for Finance apps is rising across the globe. 29 of the top 40 finance markets (by app installs) enjoyed a growth of at least 20% YoY, however it was the developing markets that dominated the number of installs. The average number of downloads in developing markets was 70% higher than the average in developed markets, with India, Brazil and Indonesia making up almost half of the global number of downloads.
Shani Rosenfelder, Head of Content & Mobile Insight, AppsFlyer