The adoption of FinTech solutions in Asia-Pacific is growing at a staggering rate, with apps leading the charge in a region where many are mobile-first and often mobile-only users.
This report seeks to capture the key trends and benchmarks you don’t want to miss.
Governments across the region are embracing change to meet the needs of two massive sectors of the population: The ‘unbanked’ (those who don’t have a bank account) and the ‘underbanked’ (those who have a bank account but use other financial services outside the bank).
In Indonesia, it is estimated that two thirds of the population is ‘unbanked’; in India, a government effort led to a sharp increase in the share of bank account owners, but hundreds of millions remain ‘underbanked’ largely because of below average financial literacy scores.
The sheer number of Finance apps in the region is by the far the highest globally, with significant year-over-year growth in the share of apps in the region, as the following chart shows:
The competition for installs in APAC is therefore higher, which leads to more aggressive marketing in an effort to draw attention to an app among many alternatives.
As a result, the share of non-organic installs of Finance apps in the region is high; for example, nearly 60% of installs in India and Indonesia driven by marketing (among apps with a marketing budget).
The fact that a significant percentage of the population lacks the knowledge needed to maneuver through the bureaucratic pipes makes money management a daunting task. Therefore, we can see that in 2019 almost half of all Finance apps in APAC were money-lending apps, a 50% increase compared to 2018.
The 2020 State of Finance App Marketing in APAC is the most comprehensive data insights report in the region covering 3.5 billion app installs of 1,800 apps.
- Global trends and regional comparisons: How APAC compares to other parts of the world
- Deep-dive into 5 key markets: India, Indonesia, South Korea, Vietnam, and the Philippines
- Retention and engagement rates
- Install-to-registration conversion rate per sub-category in each country
- Fraud benchmarks and trends