The economic benefits of shifting consumers to a mobile banking platform are obvious and in an ever-changing environment the best strategy to achieve this is shifting. We have benchmarked Australian Banks Mobile App against global counterparts with some surprising results. One Australian bank leads the world with their mobile app, with high engagement, user retention and installation rates. They have a deep understanding of consumer behaviours and have transformed this to become a part of their customers daily life.

1. Australian Mobile Banking Zafty Intelligence 1
AUSTRALIAN MOBILE BANKING
The economic benefits of shifting consumers to a mobile banking platform are obvious and in an
ever-changing environment the best strategy to achieve this is moving.
Understanding what drives consumer behaviour and how people use their phones is paramount,
and through benchmarking global markets true performance can be measured.

2. Australian Mobile Banking Zafty Intelligence 2
MARKET SIZE – FINANCE APPS
Looking at Finance apps only we examined the market size and compared usage patterns around
the world. This helps set realistic expectations on usage and session times. In Australia the average
usage time of finance apps is just 2:29 per day for males and females, a relatively small market.
Providers need to understand that this is just 1.7% of total phone usage time is spent in finance
apps, this is your playing field.
Note that India jumped straight to mobile phone usage and skipped desktop computers, therefore
adoption rates have been higher.
Other Reports: Heavy finance app users demographics and locations, what makes them different are available.

3. Australian Mobile Banking Zafty Intelligence 3
FINANCE APP USAGE
In the finance app category how do the banks perform? And can we find some opportunities for
service expansion in non-core business.
Australia
The following is a daily index for Finance App usage, in the chart we have highlighted the big four
and used light grey for other AU banks.
The dominant app used is a Blockchain app (albeit with not large user numbers). CBA dominates
usage with Commsec and Commbank app, which is interesting, but in isolation does not provide a
great insight without global comparisons.

4. Australian Mobile Banking Zafty Intelligence 4
Canada
In Canada the situation with the banks in finance app usage is similar to Australia, the domination
of Yahoo Finance was a surprise as it really does not show up on the radar anywhere else in the
world.
Note that the top bank app in Canada, CIBC has a similar score to Commbank.

5. Australian Mobile Banking Zafty Intelligence 5
UK
The UK market starts to show something interesting; banking apps are down the list with
blockchain and cryptocurrency apps being the top 3 most used apps. The banking apps lag in their
score compared to Australia and Canada.

6. Australian Mobile Banking Zafty Intelligence 6
United States
Personal finance apps are making inroads in the US with budgeting apps doing well. Banking apps
are well down the list.
Mint has achieved a 14% installation base, does this present an opportunity for AU banks?
Looking at the domination of non-banking apps in the finance sector we must ask the question, is
the US market leading and showing the future? Or it is a purely different market? Cryptocurrencies
are not going anywhere; will they continue to rule finance apps and will this spread across the
globe?
ADDITIONAL REPORT: We offer detailed insight reports into global finance apps, installation bases, usage rates, demographics
and potential cross selling opportunities. Tracking crypto apps installation rates, usage patterns and demographics.

7. Australian Mobile Banking Zafty Intelligence 7
AUSTRALIAN MARKET - THE BIG FOUR
Now we know the market size and where the banks usage sits in their category, we can look at the
installation base that banks have secured. Having your app installed is the first goal, usage and
engagement come next.
In Australia CBA leads the way with installation on almost 40% of all male phones. They are well
ahead of the other 3 who all have similar installation bases.
This is amazing market penetration for a bank more than double second place, but how does it
compare to overseas markets?

8. Australian Mobile Banking Zafty Intelligence 8
BENCHMARKING – GLOBAL INSTALLATION BASES
To gain an understanding of AU bank performance we can benchmark them across similar global
markets.
Canada
Toronto Dominion leads the way with a dominance in the male demographic. Overall installation
rates are lower than the AU market and no bank has a commanding base like CBA.

9. Australian Mobile Banking Zafty Intelligence 9
UK
The UK shows a slower adoption of mobile banking with no clear leader and banks having broadly
the same installation bases. Note that again the market leader Barclays has a higher male adoption
rate, same as CBA in Australia, or TD in Canada.

10. Australian Mobile Banking Zafty Intelligence 10
International Ranking
When put into a global scale we can see that CBA is a global leader on the move to mobile banking
and installation in their home markets.
The other Australian banks are pushing hard and leading their global peers. Is this a result of the
bank’s strategy? Or the early banking technology adoption by Australians?
Anyway we look at it CBA is a clear global leader in mobile banking (these are Don Bradman like
numbers). Overall the Australian market is leading in the shift to mobile banking.

11. Australian Mobile Banking Zafty Intelligence 11
Commbank (CBA)
With the Commbank App doing so well it is important to go deeper to see how and why.
We ran an age profile across the installation bases of the big 4 banks to identify differences (we
included ING Direct as comparison):
CBA has a dominant market share with young people, capturing the youth market and holding
them all the way through to adults. Is this a clear strategy (dollarmites?) as their installation base in
14-17yo is between 2 and 4 times higher than competitors.
Why? Is CBA seen to be more tech savvy and innovative with tools like Albert? Why are Millennials
and younger demographics flocking to them. Does the dominance of Commsec (see following
pages) help secure customers?

12. Australian Mobile Banking Zafty Intelligence 12
UK Bank InstallationProfile
Is CBA an outlier? To test we compared the CBA installation base with the leading UK Bank age
profiles (Barclays and Halifax). It is clear, CBA is different within the ages it operates, it is clearly
skewed to the younger demographic.

13. Australian Mobile Banking Zafty Intelligence 13
BIG FOUR - SECONDARY APPS
The larger banks have also made many secondary apps with some niche plays. We examined the
installation bases of these and the most successful is ANZ Mobile Pay.
However ANZ will face a problem as it is directly competing against preinstalled phone software,
either Apple Pay or Google Pay. Could the effort to secure users, and the resources deployed be
reallocated where there is less competition? Do ANZ really believe they will outdo Apple and
Google?
Overall the secondary app market (aside from the top 3) is not achieving great market penetration
however does this provide large cross selling opportunities?
Note we have excluded trading apps and will look at these separately.

14. Australian Mobile Banking Zafty Intelligence 14
AUSTRALIA – DIRECT AND SMALLER BANKS
DIRECT BANKING
ING Direct has been successful in Australia for a long period and has shifted their user base to
mobile platforms with a 10% installation base. As a direct product is a very impressive feat and
worth looking deeper into.
We must note that RaboDirect is having very little success in the mobile space and is not of any
concern.
DIRECT BANKING: We offer reports on open rates, usage rates, demographics on ING users, and examine the direct banking
around the world and benchmark. Importantly what banks are leaking clients to ING?

15. Australian Mobile Banking Zafty Intelligence 15
SECONDARY BANKS
As expected the secondary Australian banks (because of a smaller customer base) have lower
installation rates. However, they are all performing well given their customer bases.

16. Australian Mobile Banking Zafty Intelligence 16
TRADING APPS
Trading app usage is a male dominated domain, and again we find CBA is the dominant player with
Commsec. Is this driving the Commbank app base? Or vice versa?
Westpac and NAB trail, perhaps an opportunity exists for them in this space.

17. Australian Mobile Banking Zafty Intelligence 17
MARKET SHARES
A large installation base is a start, but you need to have users opening and using your app. The CBA
dominance of installation flows straight through to their share of usage time.
Astoundingly CBA has over 50% of app usage when compared to the other 3 big banks.

18. Australian Mobile Banking Zafty Intelligence 18
The Others
We can also look at the usage time market share for the smaller banks including ING Direct which is
the leader.

19. Australian Mobile Banking Zafty Intelligence 19
INACTIVE CUSTOMERS
We have examined users that have an app installed but have not opened it for the last 30 days, an
inactive user.
Benchmarking Australian banks shows ME Bank has close to 50% inactive users which should be a
major concern. While looking at the big 4, ANZ is clearly lagging the field and CBA leading the pack,
once again.
ANZ need to think about getting customers re-engaged with their app 36% of users have not
opened it in the last 30 days.

20. Australian Mobile Banking Zafty Intelligence 20
On a global scale the Australian banks show a similar story, ANZ is not actively engaging with
mobile banking users and should be looking to improve its mobile banking experience and
features. Westpac and CBA are performing extremely well.

21. Australian Mobile Banking Zafty Intelligence 21
LEARNINGS
Australia is leading the way in mobile banking in market penetration and usage. The big banks are
more dominant in the finance category, and this can be taken in two ways:
1. Australian banks have successfully shifted customers to mobile banking,
OR:
2. Secondary finance apps (budgeting etc) are yet to seriously enter the Australian market (e.g.
Mint) and they will shake things up when they do.
Global Leader
The standout performer is CBA, not just on a local level but they are a global leader in mobile
banking. They have successfully migrated users to their app with high levels of engagement and a
dominant market share of younger people across banking, trading and a property app. The have
created secondary apps (Commsec, Property) to supplement core banking functions and drive
customer numbers.
The other banks, rather than looking overseas to improve their performance need only study CBA
and their strategy in a more in-depth manner.
CONCLUSION
Local and Global benchmarking allows companies to determine their true performance.
Our ability to provide deep market intelligence provides an opportunity to discover actionable
insights and improvements.
This report is a summary, for detailed reports examining your market please get in touch.

22. Australian Mobile Banking Zafty Intelligence 22
About Zafty
Zafty provides mobile habit and usage insights through a worldwide database of users. This report
was created through analysis of over 14,000,000 data points of over 150,000 mobile phone users
around the world.
We work closely with research companies, advertising agencies, app developers and large
organisations to provide unique insights.
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