• WealthTech apps accounted for half of the most downloaded FinTech apps on the list as Australian consumers switch to mobile solutions to manage their finances. In 2021 63.6% of Australians used mobile banking, up 7 percentage points (pp) from 2020 whilst online/internet banking usage reduced 9 pp in the same period. Mobile banking also proved to be the banking channel with the highest customer satisfaction in 2021.
• Commonwealth Bank (CommBank), Australia’s largest bank that provides a variety of financial services, was the most downloaded FinTech app in the first quarter of 2022 with 334k downloads in total. CommBank have over 6.4 million customers actively using their app and have the highest customer satisfaction rating out of the top four banks in Australia at 90.8%.
The data for this research was taken from the FinTech Global database. More in-depth data and analytics on investments and companies across all FinTech sectors and regions around the world are available to subscribers of FinTech Global. ©2022 FinTech Global
