Market intelligence company, Sensor Tower has revealed which apps Australians are downloading to help get their finances in check ahead of the end of the financial year.
The data has revealed it appears a new era of fintech is starting to shape Aussies’ personal finance management with crypto apps and Buy Now, Pay Later, (BNPL) apps consistently featuring in the top 10.
This captures first time app downloads only
Data analysed from May 2022 revealed crypto apps continue to rise in popularity, with Binance downloads increasing by 38% compared to April, as Aussies look beyond more traditional means of investing.
Buy Now Pay Later (BNPL) apps have increased in popularity since the start of the year, however as EOFY approaches, downloads have decreased with the likes of Klarna seeing a decline of 11% in the past month.
Additionally, The big four banks still consistently place in the top ten with NAB, Westpac and ANZ all seeing an increase in downloads in the past month. CommBank consistently places in the top two for most downloaded finance apps.
Eugene Du Plessis, regional director of Sensor Tower said, “We’ve come a long way from the days where Aussies had to desperately search through their crumpled receipts to manage their finances. Whilst banking app useage has been increasing for a while, it’s interesting to see Aussies tapping into the BNPL and crypto trends that are sweeping our nation.
“Despite new fintech players consistently entering the market, the big four legacy banks continue to play a vital part in Aussie’s personal finance management, with CommBank consistently placing in the top two for most downloaded. At SensorTower, we’ll continue to keep a watchful eye on new entrants – perhaps this time next year we’ll even see tax return-specific apps making the cut.”
Founded in 2013 and based in San Francisco, CA, Sensor Tower provides enterprise-level data on mobile apps and publishers.