Finance apps generated over 500 million downloads in the US in 2021

According to Insider Intelligence, mobile finance apps reached 573.1 million installs in the United States in 2021, an increase of nearly 19 percent from 481.9 million in 2020. 

Per the analysis, Gen Z are more likely to use money transfer services, cryptocurrency trading platforms and neobanks, while Gen X and baby boomers have gravitated towards the apps from traditional brokerage firms, banks and insurance companies.

In general, young consumers prefer apps that move money quickly and easily and that offer them financial flexibility when investing.

According to a recent analysis, the number of interacted Finance apps in the United States increased by 32.5%.