Mobile Marketing Experts Show How Fintech Apps Will Emerge Fighting Fit From The Covid-19 Crisis
By Peggy Anne Salz
Rattled by unemployment numbers and wracked by the economic fallout of Covid-19, people everywhere are forced to re-evaluate how they will make and save money. Keenly aware of where their paycheck is going and eager to improve financial wellness, record numbers of consumers are looking to mobile finance apps for advice and answers.
Interest in and comfort with mobile finance was strong ahead of the crisis, with the sector showing an impressive growth trajectory that started last year. According to the Mobile Finance Apps Report—published by mobile app marketing and retargeting platform Liftoff in partnership with app market intelligence provider App Annie—mobile money management saw massive uptake in 2019. (Fellow Forbes contributor John Koetsier analyzed the April report in detail here.) Globally, consumers accessed finance apps over a trillion times in 2019. The flurry of activity had a positive impact where it counts. Conversion costs dropped by over 76% and registration rates rose by more than 71% compared to the previous year.
Photo courtesy of Ava Systems.