App Annie reports on the state of finance apps in 2017 –– in an age where mobile is disrupting traditional banking and financial services.

1. — R E T R O S P E C T I V E —

2. Finance Apps:
Mobile Disrupts Traditional Banking
& Financial Services
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3. Indonesia
Brazil
Russia
China**
Germany
Japan
Spain
UnitedStates
SouthKorea
France
United
Kingdom
Finance App Adoption Is Gaining Momentum
More Financial Interactions Are Happening on Mobile Platforms,
Significantly Outpacing Growth in Apps Overall in the Markets Below
*iOS App Store and Google Play combined
**China is iOS App Store only
Mobile apps have accelerated the digital
transformation of the personal finance
space. Instant person-to-person
payments, aggregators and the
emergence of digital wallets/payments
have already made traditional services
less relevant for many consumers. The
convenience delivered by apps further
raises consumer expectations for
instant, innovative and effortless service
available 24/7.
Vast investment in banking technology
in Brazil has resulted in exceptionally
rapid growth in mobile banking.
Percentage Growth in Finance App Downloads*
in Select Markets, 2017 vs 2015
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4. ONLINE PAYMENTS AND
PERSON-TO-PERSON TRANSFERS
BANKS
LOCAL PAYMENTS & POS
SERVICE CONSOLIDATION AND
BUDGETING
INVESTMENT MANAGEMENT /
TRADING PLATFORMS
INSURANCE
CREDIT CHECKING
A Full Range of Financial Services Are Available to App Users
The Traditional Full-Service Retail Banking Model Is at Risk
Google
Wallet
PayPal Samsung PayAlipay
Apple
Pay
WeChat
Pay
Lloyds
Bank
China
Construction
Bank
Sparkasse
Atom
Bank
HSBC Wells Fargo Sberbank of
Russia
Starling
Bank
Monzo Credit
Agricole
BBVA
Bank of
Tokyo-Mitsubishi UFJ
Chase
Barclays
Digibank
by DBS
KB kookmin
bank
N26
Commonwealth
Bank of Australia
KakaoPay LINE Pay
Android
Pay
Zelle Venmo Revolut
Lydia Square
iZettle PayPal Here
Credit Sesame Credit Karma
Experian ClearScore
Zaim
Bankin’
Linxo
Money
Forward
Centralway
Numbrs
51 Keeper
HSBC MyMoney
Haitong
Ant
Finance
DaZhiHui HuaTai
Nutmeg Acorn JD
Finance
Credit
Ease
Lu.com
Pingan Life Insurance DB Insurance
Hyundai Marine
Insurance
Samsung Direct
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5. “For Lloyds, the app is a strategic asset to
meet our customers’ changing needs, enabling
us to provide a more personalised and relevant
banking experience. We want everything we
do going forward to be mobile-first.”
Quote provided to App Annie by
Martin Rowbotham
Head of Mobile Insight and Strategy
Lloyds Banking Group
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6. Booming Cryptocurrency Prices Have Created a New
Category of Cryptocurrency Management Apps
Cryptocurrency management apps
have seen a significant boost in the
face of growing market excitement.
By allowing users to monitor, store and
trade currency at any time or place,
these apps have become a critical tool
for currency traders.
The performance of cryptocurrency
management apps is tied closely to
currency values and consumer
excitement. Peaks and troughs in
trading values will continue to be
reflected in app usage.
Smartphone Monthly Active Users for Leading Cryptocurrency
App* and Average Bitcoin Value
Worldwide
* By MAU, App Name Anonymized
** Produced from http://www.coindesk.com/price/
Jan
2016
Jul
2016
Jan
2017
Jul
2017
MAU
(Millions)
Average Monthly Bitcoin Value
(USD)**
Jan
2016
Jul
2016
Jan
2017
Jul
2017
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7. Our Full Report Offers:
● Further In-Depth Insights on mobile’s disruption in finance
● Rankings: See the year's top apps across markets and categories
● Video Streaming: How consumer spend is exploding in video
streaming apps
● China: The staggering growth of the app economy in China
● Ride-Sharing: Local variations within the extremely competitive
ride-sharing space
● Much more...
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8. About App Annie
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to succeed in the global app economy. Over 1 million registered users rely on App
Annie to better understand the app market, their businesses and the opportunities
around them. The company is headquartered in San Francisco with 450 employees
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Partners, e.ventures, Greenspring Associates, and Greycroft Partners.
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methodology and updates are available here.
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