A growing numbers Canadian smartphone users swapped to mobile banking during the early months of the pandemic in March and April 2020. Lockdowns prompted a spike in utility apps and financial apps saw massive spikes in adoption globally.
And while the pace of adoption has slowed somewhat, usage of banking apps in Canada remains up 40% compared to January 2018.
That’s according to new data from Sensor Tower.
TD Canada was the most downloaded mobile banking app on both leading app stores During the first quarter 2021, the app also scored highest for weekly time spent in app at an average 8 minutes per user.
Other top banking apps were RBC and Scotiabank at six and eight minutes weekly time, respectively.
Asset management apps also broke their own records in 2021 in the US and Canada. This may be due to consumers looking for ways to reallocate their funds and arguably having the time to do so.
The post Use of banking apps in Canada up 40% appeared first on Business of Apps.
source https://www.businessofapps.com/news/use-of-banking-apps-in-canada-up-40/
