SensorTower: Financial Applications Report 2024

Global downloads of financial services apps have grown from 4.6 billion in 2020 to 7.7 billion in 2024, with India seeing the fastest growth in downloads, from 1.5 billion in 2022 to 1.7 billion in 2024.

Financial Application Trends 2024: Cryptocurrency and Digital Payment Adoption Rise

Financial services app downloads showed a variety of trends in the first three quarters of 2024. Digital wallet and P2P payment downloads grew 7.9% to 1.5 billion, while cryptocurrency downloads soared 133% to 400 million. Lending app downloads fell 7.7%. Total spend on digital wallet apps grew 35% to 61.5 billion, while total spend on cryptocurrency grew 30% to 1.6 billion, highlighting the growing shift toward digital payments and cryptocurrencies.

Cryptocurrency app downloads nearly double in the U.S., bucking a trend of decline for major financial apps

In the U.S., digital wallets and P2P payments led the pack in terms of downloads, though they fell 4.7% from 112.7 million to 107.4 million, but remain popular. Consumer banking apps also experienced a small decline of 4.3%.

Downloads of cryptocurrency apps, however, grew 95.2%, from 19.1 million to 37.3 million.

Changing trends in Japan’s financial app market: Consumer banking and cryptocurrencies grow significantly

In Japan, downloads of digital wallets and P2P payments fell 29.7 percent, from 61.4 million to 43.2 million. Downloads of consumer banking apps grew 10.1 percent, from 37.5 million to 41.3 million.

Investment and financial management apps in Japan saw a small increase of 4.3%, with downloads rising from 7 million to 7.3 million. In addition, cryptocurrency apps saw a significant increase of 30.8%.

Diversification of financial applications in Southeast Asia: Cryptocurrency leads growth

In Southeast Asia, the diversity of top financial apps varies by country, with consumer banking apps dominating in Thailand and Malaysia, while digital wallets and P2P payment apps dominate in Indonesia; notably, cryptocurrency apps have seen the most significant growth, especially in Indonesia and the Philippines.

Digital ad spend and impressions for financial services brands are rising year-over-year in many key markets and will reach new heights by 2024.

The United States remains the largest market for digital ad spending by financial services brands worldwide. From January to October 2024, spending reached $6.47 billion, up 33% year-on-year, and the country's total digital ad spending is expected to be close to $7.7 billion by the end of the year.

Binance sees strong global growth in downloads and active users, driven by India’s relaunch

In 2024, Binance leads in global cryptocurrency app downloads and ranks in the top ten in cryptocurrency app downloads in the United States and Japan.

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