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1
THE BANKING & FINTECH APP MARKET
IN THE UNITED STATES
BENCHMARKS & ANALYSES – JULY 2016
In partnership with
2
INTRODUCTION
Rankings and trends in the US banking & FinTech app market
According to a Federal Reserve Board report (wit...
3
TOP 10 BANKING & FINTECH APPS (ANDROID)
Ranking by number of ratings (USA - July 2016)
To better understand each perform...
4
TOP 10 BANKING & FINTECH APPS (IOS)
Ranking by number of ratings (USA - July 2016)
To better understand each performance...
5
TOP 10 IN TERMS OF NUMBER OF RATINGS
The Chase Mobile app dominates on Android
Sitting at #1 of the top 10 apps for Andr...
6
APP INSIGHTS: FOCUS ON
CHASE MOBILE
Chase Mobile
With more than 700,000 ratings in July 2016 on Android, the Chase Mobil...
7
TOP 10 BANKING & FINTECH APPS (ANDROID)
Ranking by change in number of ratings, in % (USA - July 2016)
To better underst...
8
TOP 10 BANKING & FINTECH APPS (IOS)
Ranking by change in number of ratings, in % (USA - July 2016)
To better understand ...
9
TOP 10 IN TERMS OF CHANGE IN NUMBER OF RATINGS
Strong upward movement for Venmo, mobile payment/P2P app, in July 2016
On...
10
APP INSIGHTS: FOCUS ON VENMO
Venmo, a PayPal service
With the greatest change in app NPS in July for both Android and I...
11
METHODOLOGY
Tracking methods and explanation of main
analysis indicators
12
SOURCE OF BENCHMARK DATA
Decode Apps monitors the banking app market worldwide
1
2
stores
56
countries
7,063
banking
ap...
13
BENCHMARK AND ANALYSIS METHODOLOGY
We track all apps in the US banking sector
355
banking apps
in the US
KPI
categoriza...
14
KEY INDICATORS ON TREND REPORTS
Presentation of main data and analysis metrics
App Name
Rating
#1
Country
Evol ratings
...
15
OUR APP ANALYTICS SERVICES
Discover our “all-in-one“ offer
16
ALL-IN-ONE OFFER
ALL IN ONE
Manage performance of all your apps
in a single dashboard
Store data
In-app analytics
Bench...
Request a demo at www.atinternet.com
READY TO DISCOVER YOUR DATA’S TRUE POTENTIAL?
BORDEAUX - HAMBURG - LONDON - MOSCOW - ...
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The banking & Fintech app market in the United States

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Discover who's leading the banking & FinTech mobile app market in the US. This free benchmark report from AT Internet outlines the top 10 banking apps in the US market.

For more benchmarks and studies from AT Internet, visit: http://www.atinternet.com/en/resources/surveys/

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The banking & Fintech app market in the United States

  1. 1. 1 THE BANKING & FINTECH APP MARKET IN THE UNITED STATES BENCHMARKS & ANALYSES – JULY 2016 In partnership with
  2. 2. 2 INTRODUCTION Rankings and trends in the US banking & FinTech app market According to a Federal Reserve Board report (with GfK’s KnowledgePanel®)*, 53% of US smartphone owners with a bank account used mobile banking in 2015. The most common use of mobile banking is to check account balances or recent transactions (94% of mobile banking users). Among mobile banking users, transferring money between an individual’s own accounts (61%) and receiving an alert (e.g., a text message, push notification, or e-mail) from their bank (57%) are the second- and third-most common uses of mobile banking. Online banking is still America’s most popular banking method, but mobile banking continues to grow, according to a recent survey by the American Bankers Association**. Mobile banking is now preferred by 12% of consumers, up from 3% just five years ago. AT Internet, a global leader in digital analytics, has partnered with Decode Apps, a specialist in app benchmarking and monitoring, in order to create a series of reports providing unique insights and key stats about market trends per business vertical. For this report, we’ve benchmarked 355 applications published by major banks and FinTech groups in the United States for the two predominant operating systems (iOS, Android) in July 2016. * http://www.federalreserve.gov/econresdata/consumers-and-mobile-financial-services-report-201603.pdf  ** http://www.aba.com/Press/Pages/081115MobileBankingSurvey.aspx The Mobile & Multi-device R&D project has been co-financed in part by the European Union with funds from the ERDF, and in part by the Region of Aquitaine
  3. 3. 3 TOP 10 BANKING & FINTECH APPS (ANDROID) Ranking by number of ratings (USA - July 2016) To better understand each performance indicator, please refer to the Methodology section on page 11.
  4. 4. 4 TOP 10 BANKING & FINTECH APPS (IOS) Ranking by number of ratings (USA - July 2016) To better understand each performance indicator, please refer to the Methodology section on page 11.
  5. 5. 5 TOP 10 IN TERMS OF NUMBER OF RATINGS The Chase Mobile app dominates on Android Sitting at #1 of the top 10 apps for Android, the Chase Mobile app is the most-rated mobile banking app in the United States on this OS. On iOS, Mint’s personal finance app, Money Manager, is in first place, right in front of the Chase Mobile app, in terms of number of ratings in July 2016. Banking apps are multiplying and becoming more specialized: bank account management apps – the large majority – are found alongside apps for personal wealth management, online payments, credit monitoring, bill payments, and more… Among account management apps, we see some of the US’ major banking groups, notably JPMorgan Chase, Bank of America, Capital One, and Wells Fargo... Summary of the top 10 banking and FinTech apps on Android: The best Decode Apps score: Chase Mobile, Capital One Mobile, PayPal and Credit Karma all received the same score: 16.9/20 Greatest growth in number of ratings: Chase Mobile’s account management app, with 8.5% growth in July 2016 Greatest change in app NPS: the Credit Karma credit monitoring app, with a 71.7% increase, followed closely by Chase Mobile (increase of 69.8%) Summary of the top 10 banking and FinTech apps on iOS: The best Decode Apps score: the Capital One Mobile banking app, with a score of 16.9/20 Greatest growth in number of ratings: Chase Mobile (iPad) with 6.6% growth in July 2016 Greatest change in app NPS: Credit Karma with an increase of 80.2% FOCUS on app insights >> Chase Mobile, bank account management app, is #1 in terms of number of ratings on Android in July 2016, and #1 in terms of growth in number of ratings on both OS.
  6. 6. 6 APP INSIGHTS: FOCUS ON CHASE MOBILE Chase Mobile With more than 700,000 ratings in July 2016 on Android, the Chase Mobile app is by far the most popular bank account management app in the US. Main features available: account monitoring, banking transactions, contact the bank, alerts and credit card management. OBSERVED INNOVATIONS Pay bills and credit cards Send and request money with Chase Person-to-Person QuickPaySM Deposit checks with Chase QuickDepositSM : camera permissions are needed Secure Message Center
  7. 7. 7 TOP 10 BANKING & FINTECH APPS (ANDROID) Ranking by change in number of ratings, in % (USA - July 2016) To better understand each performance indicator, please refer to the Methodology section on page 11.
  8. 8. 8 TOP 10 BANKING & FINTECH APPS (IOS) Ranking by change in number of ratings, in % (USA - July 2016) To better understand each performance indicator, please refer to the Methodology section on page 11.
  9. 9. 9 TOP 10 IN TERMS OF CHANGE IN NUMBER OF RATINGS Strong upward movement for Venmo, mobile payment/P2P app, in July 2016 On both Android and iOS, the applications with the strongest growth in terms of number of ratings in July 2016 are personal finance management apps: QuickBooks Self-Employed on Android and Schwab Mobile on iOS. A summary of the Top 10 banking and FinTech apps for Android: Greatest change in number of ratings: QuickBooks Self-Employed with 14.2% growth in July 2016 Best DA score: Venmo and Capital One Wallet, mobile payment/P2P apps, with scores of 17.5/20 Greatest change in app NPS: Venmo with an increase of 73.3% A summary of the Top 10 banking and FinTech apps for iOS: Greatest change in number of ratings: Schwab Mobile with 50.5% growth in July 2016 Best DA score: Venmo with an excellent score of 18.1/20 Greatest change in app NPS: Venmo with an increase of 65.5% FOCUS on app insights >> Venmo, best-rated app (in terms of Decode Apps Score), which also saw the greatest change in app NPS on both Android and iOS.
  10. 10. 10 APP INSIGHTS: FOCUS ON VENMO Venmo, a PayPal service With the greatest change in app NPS in July for both Android and IOS, and an excellent DA score (18.1 on iOS), the Venmo app has burst onto the mobile payment/P2P scene. Created in 2009, and purchased by PayPal in 2013, Venmo allows for payments to be made between individuals, without additional fees and restrictions, in a social network format. The app has become so popular in the US that its name has even become a verb: “Just Venmo me” OBSERVED INNOVATIONS True differentiation: works like a social network (ex: add emo- jis when thanking and paying a friend for lunch, and sharing the message with a group) Launching a payment service for e-commerce apps Make and share payments Request money from multiple people at once See payments your friends share Have fun with friends on Venmo
  11. 11. 11 METHODOLOGY Tracking methods and explanation of main analysis indicators
  12. 12. 12 SOURCE OF BENCHMARK DATA Decode Apps monitors the banking app market worldwide 1 2 stores 56 countries 7,063 banking apps Custom benchmarking and monitoring solution for app markets in each business vertical
  13. 13. 13 BENCHMARK AND ANALYSIS METHODOLOGY We track all apps in the US banking sector 355 banking apps in the US KPI categorization & analysis Top 10 apps Analyses Our consultants identify apps and key players in the US sector Automatic retrieval and aggregation of all market data Selection of one innovative app per top 10 Analysis of app and selection of key features Writing of App Insights analysis notes Number of ratings Change in number of ratings over 1 month (expressed as a %)
  14. 14. 14 KEY INDICATORS ON TREND REPORTS Presentation of main data and analysis metrics App Name Rating #1 Country Evol ratings (value) Evol ratings (%) Apps NPS Nb of ratings OS Group Type App ranking, based on the selected criteria App name and publisher name data is retrieved from app stores Cross-store unification with our meta-app-name procedure Cross-OS aggregation of apps into “Groups“ of companies, and granular functional segmenta- tion by “Type“, done by our consultants Evolution of ratings (value) = number of ratings obtained over 1 month Evolution of ratings (%) = growth rate of number of ratings obtained over 1 month, 3 months, or 6 months App NPS = Net Promoter Score applied to apps Average rating and total number of ratings obtained by the app worldwide, or by country #1 country of distribution DA SCORE A proprietary scoring algorithm combining nu- merous KPIs, including: Number of ratings, average ratings, growth trends in terms of value and % around the world Ranking of apps in stores App NPS (App Net Promoter Score) Plus update rate, user sentiment score… Rank da score
  15. 15. 15 OUR APP ANALYTICS SERVICES Discover our “all-in-one“ offer
  16. 16. 16 ALL-IN-ONE OFFER ALL IN ONE Manage performance of all your apps in a single dashboard Store data In-app analytics Benchmarking App Store Optimization (ASO) Top app trends by country and OS Track competitors’ apps worldwide USER QUALITY Identify risk points and areas for improvement Continuous monitoring of perceived quality (ratings and reviews) & competitive positioning User sentiment analysis (available in beta) Mobile multi-KPIs BENCHMARKING Adopt best practices from the market – and from your competitors Benchmarking per industry 3M+ applications continuously audited, across more than 60 countries MOBILE EXPERTS Receive analysis and continuous assistance from mobile experts 15+ years of experience in mobile (multi-industry)
  17. 17. Request a demo at www.atinternet.com READY TO DISCOVER YOUR DATA’S TRUE POTENTIAL? BORDEAUX - HAMBURG - LONDON - MOSCOW - MUNICH - NEW YORK - PARIS - SÃO PAULO - SINGAPORE Follow us on TWITTER Follow us on YOUTUBE Follow us on DA BLOG Follow us on SLIDESHARE Follow us on LINKEDIN About AT Internet One of the world’s major players in digital intelligence since 1996, AT Internet helps companies measure their audience and optimise their digital performance across all channels. AT Internet’s expertise extends from collecting raw data to processing it in real time and delivering it for analysis and the sharing of insights. AT Internet’s analytics solution is used on more than 20,000 sites and applica- tions around the world, across all industries. With more than 200 employees, the company is present in 32 countries via its customers, subsidiaries and partners. About Decode Consulting With data coverage on more than 3 million apps worldwide, Decode provides custom and essential market insights to empower your mobile strategy. Founded in 2010 by two start-up experts turned consultants,withmorethan15yearsofpureplayerexperience,Decode is an innovative B2B software editor and consulting firm specialized in mobile channels. When working on custom benchmarks and studies for our clients, we realized that the fantastic success of the mobile applications market was making its permanent watch compulsory, but that it was extremely complex and time consuming to do that manually! Decode apps now makes it simple, being the first app intelligence platform to search cross-store/worldwide, benchmark and monitor the global Apps market the exact way YOU want! www.decodeapps.com

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