Finance investment apps grew 88% between Jan and June 2020

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The company Adjust has released a report on mobile finance apps which shows a growth of 88% for finance investment apps.

Finance investment apps are the second-fastest-growing vertical globally in 2020, with Apptopia’s data also showing massive growth across the board.

The report that collected and analyzed data from Brazil, Great Britain, Germany, Japan, Russia, Turkey, Ukraine and the United States represents regional trends and global tendencies.

According to the report, the global crisis triggered by Covid 19 has had an impact on finance mobile tendencies and thus contributed to the growth of finance investment apps.

The growth was driven by emerging markets.

This is due to the limited options of solutions on offer, a pool of unbanked and under-banked users, where Fintech is seen less disruptors, but rather the factors to fill in the needs that many traditional banks do not supply.

The Covid 19 has accelerated the transformation and given opportunities and access to the millions of unbanked and under-banked consumers around the globe through digital financial services.

The number of sessions in payment apps increased by almost half

It was increased by 49% on average across the countries in our survey. The highest growth rates were seen in:

  • Japan (75%)
  • Germany (45%)
  • Turkey (39%)
  • The US (33%)
  • Great Britain (29%).

Users are increasingly using mobile to carry out transactions while conducting social distancing.

Super-apps is one of the top trend in mobile

Asia gave birth to the super popular super-app with big names such as WeChat and KakaoTalk. In Europe, Revolut is following a similar strategy. A report by KPMG4 suggests that super- apps could
be one of the most disruptive forces in the financial sector, with WeChat
and Alipay having exceeded one billion users, and Zalo (a super-app catering to the Vietnamese market) surpassing the 100 million mark.

Source: Blocks99.com

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