Smart bank growth rate in EMEA and LATAM
In its most recent Mobile Apps
Trend Report , mobile analytics platform Adjust tracked the uptake rate of smart bank mobile downloads from across the globe in 2022 .
The report detailed the highest yearly smart bank download rise in Europe , the Middle East and Africa ( EMEA ), and Latin America ( LATAM ), where download rates grew 10 % and 8 % respectively .
In fact , of all fintech applications installed worldwide , smart banking apps accounted for 40 % of all downloads across the fintech industry , with payment app downloads accounting for 52 % of all fintech app downloads , crypto apps 6 % and stock trading apps 3 %. Global sessions for fintech apps also grew 19 % year-on-year in 2022 , with worldwide installs increasing by 2 % from 2021 .
Adjust ’ s mobile app report has also tracked growth heading into January 2023 , where it found that fintech app downloads were up 6 % from January 2021 , and up 13 % on the 2022 monthly average . With these figures in mind , it ’ s clear that the uptake of fintech technology and smart banking is still in a stage of growth .
This is in addition to faster loan and funds decisions , “ smart journeys that deliver world-class digital originations and provide an automated fulfilment by leveraging intelligent underwriting and AI / ML for eligible customers to expedite loan approvals ”. AI is , in itself , another defining element , particularly conversational AI , which Kyprianidou says “ renders banking services to users through natural conversations across any channel by leveraging apps such as WhatsApp and Facebook Messenger ”.
56 July 2023