Global finance apps see 119% revenue surge in Q1 2024

Adjust has released a comprehensive Finance app insights report revealing a remarkable 119% year-over-year (YoY) revenue increase for finance apps globally in the first quarter of 2024. This surge underscores a robust growth trajectory fueled by technological innovations, increased user spending and engagement, and strategic market expansions.

The report highlights several key trends shaping the finance app landscape. Notably, Europe and Latin America (LATAM) have seen significant success through effective user engagement and monetization strategies. Additionally, there is a resurgence in cryptocurrency trading and management, evidenced by a 196% YoY increase in global crypto app installs from 2022 to 2023.

Tiahn Wetzler, Director of Content & Insights at Adjust, emphasized the optimistic outlook despite recent economic challenges. “The finance app sector shows resilient growth potential through 2024 and beyond. By integrating advanced measurement methodologies like incrementality and media mix modeling with traditional attribution, finance app marketers can uncover new growth opportunities. Prioritizing secure, user-friendly, and personalized experiences will be key to retaining users and maximizing lifetime value,” Wetzler noted.

Key insights from the report for finance app marketers and developers include:

1. Substantial Global Growth: The finance app sector has experienced a 36% YoY increase in Q1 2024 installs and a 23% rise in user sessions, indicating robust engagement and expansion.
2. Shift Toward Digital Financial Solutions: Mobile payments and banking apps have become essential tools for daily transactions. Bank app installs surged by 111% YoY in Q1 2024, while payment app sessions rose by 27% YoY in 2023. Session lengths for these apps increased by 12% YoY in Q1, highlighting their growing role in users’ financial routines.
3. Promising Growth in APAC: The Asia-Pacific (APAC) region stands out with the lowest median effective cost per install (eCPI) for finance apps at $0.63, compared to the global average of $1.21. This indicates a favorable environment for growth and expansion in the region.
4. Increasing App Tracking Transparency (ATT) Opt-Ins: Global opt-in rates for ATT in finance apps climbed from 18% in Q1 2023 to 25% in Q1 2024, reflecting a growing acceptance of data privacy measures among users.

These findings suggest that finance apps are well-positioned for continued growth and innovation. The renewed interest in cryptocurrency, coupled with advancements in mobile payment technologies and strategic regional expansions, are driving the sector forward.

For more detailed analysis and additional insights, the full Finance app insights report by Adjust is available for download.