Finance brands were generally spared by the marketplace shakeup of 2020. Consumers used Finance apps for the same standard purposes, although DAU spiked as people used mobile as their primary access point to banks and finance management.
In our 2021 Mobile App Engagement Benchmark Report, a study of 1,000 apps across a billion+ app installs, we take a close look at apps in the Finance category. In this report, Finance apps are separated into three subcategories: Fintech (credit score, mortgage, stocks and bonds, loan consolidation, etc.), Banking (banks and credit unions), and Insurance (auto, home, life, renters, pets, etc.). Consumers in each subcategory have vastly different motivations and usage patterns, which we see represented in the data.