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Mobile finance report 2020 From Adjust&Apptopia

The following is the Mobile finance report 2020 From Adjust&Apptopia recommended by And this article belongs to the classification: online finance, research report, Mobile applications.

Today, adjust, a global application marketing platform, and apptopia, an application intelligence provider, jointly released the mobile finance report 2020, providing a global data benchmark for banking, payment, and investment and financing applications. The report shows that due to the impact of the epidemic, the development of global financial applications has accelerated. Compared with the first half of 2019, the usage of financial applications in the first half of 2020 is as follows:

For investment and financing applications that can directly trade stocks on mobile phones, user activity has increased significantly. From January to June 2020, the daily conversation volume increased by 88%. The applications provided by acorns, stash and other trading platforms reduce the threshold and difficulty of investment, so as to encourage more people to use the applications for investment and financing activities. According to the data, investment and financing applications are the second fastest growing mobile applications in the world in 2020. The growth rate is much higher than that of leisure and super leisure game applications.

The report shows that the global conversation volume of payment applications has increased by 49% on average. The highest growth rates were in Japan (75%), Germany (45%), Turkey (39%), the United States (33%) and the United Kingdom (29%). In order to maintain a safe social distance, more and more users use mobile terminals for financial transactions.

Globally, the total number of conversations between banks and payment applications increased by 26%. Among them, Japan (142%), Germany (40%), Turkey (31%) and the United States (27%) have significantly higher conversation growth rates than other countries / regions.

In the mobile industry, super apps is still one of the most popular trends. Represented by wechat and kakaotalk, super applications have set off a hot trend of global application development in Asia. But other regions are not willing to lag behind. For example, revolut, an online payment service provider in the UK, is seeking to become a “super app”.

Emerging markets promote the development of banking services

It is found that there are regional differences in the installation and use of banking applications. Among countries / regions, Japan has the largest number of downloads of banking Apps – but this is an anomaly contrary to the overall trend. Apptopia data shows that in the past 12 months, the installation volume of other developed economies has shrunk to varying degrees.  

Users spend more time in the app

In addition to the growth of session and installation, users around the world will spend more and more time on financial applications in 2020. In the first half of 2019, the average session time of users in banking and payment applications is 7.7 minutes, but by 2020, the number has increased by 8.9% to 8.35 minutes.

In addition, the data of adjust also confirmed that the growth rate of the use duration of financial applications reached the peak in the second quarter of 2020, which is the time when all parts of the world entered the period of epidemic prevention. Of all the countries / regions analyzed, Argentina’s usage in 2020 increased by 72% compared with last year, ranking first. Ukraine was followed by 62% growth, followed by Russia and Brazil, both about 50%. Japan’s growth rate was 21%.

Reduce the cost of user acquisition, seize the opportunity to build user loyalty

While COVID-19 has brought changes to the financial economy and society, the cost of acquiring users of banking and payment applications has also declined significantly. Statistics show that from February to May this year, the effective cost of a single installation (ECPI) of the application decreased by 77.49%.

COVID-19 has made more and more people choose to use mobile applications to deal with financial, investment and transaction services. Mobile maker analysis points out that with the easing of the epidemic, users who are used to using financial applications are likely to continue this behavior, which provides opportunities for the expansion of these application services.

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