Leading Brands in Canada’s Credit & Lending Sector: Q3 2023 Analysis

In the ever-evolving landscape of credit and lending in Canada, several brands have emerged as leaders in Q3 2023. With a significant number of monthly deduplicated audiences across websites and apps, these brands have shown remarkable performance. This article delves into the trends and data of Credit Karma, Borrowell, and MBNA Canada, highlighting their digital presence and advertising strategies.

Credit Karma, Inc.

Credit Karma's digital presence is robust, featuring its website, creditkarma.com, and the Intuit Credit Karma app.

• Audience Trends: From Q2 to Q3 2023, creditkarma.com exhibited fluctuations in visits, peaking in July with over 5M visits and stabilizing above 4M through September. The monthly deduplicated audience remained stable, exceeding 1.5M throughout the quarter.

• App Engagement: The app's monthly active users hovered around 350K, indicating consistent engagement.

• Ad Spend & Channels: Minimal advertising activity was noted, with a brief spike in July on Instagram, spending under $100 and gaining over 21K impressions.

Borrowell

Borrowell maintains a notable digital footprint with its website, borrowell.com, and the Borrowell: Credit Score Canada app.

• Audience Trends: Borrowell.com saw a peak in June with visits surpassing 1.8M, followed by a stable trend above 1.3M visits through September. The monthly deduplicated audience consistently exceeded 500K.

• App Engagement: The app's monthly active user base showed a steady increase, maintaining above 150K from June onwards.

• Ad Spend & Channels: Borrowell ramped up its advertising efforts in August and September, with significant spends on Instagram and Facebook, resulting in impressions exceeding 500K in September alone.

MBNA Canada

MBNA Canada's digital reach is anchored by its website, mbna.ca, and the MBNA Canada app.

• Audience Trends: The website maintained a strong presence with visits consistently over 3M from July to September. The monthly deduplicated audience remained stable, with figures above 450K throughout the quarter.

• App Engagement: The app's monthly active users slightly declined from 30K in April to around 26K by September.

• Ad Spend & Channels: MBNA's monthly advertising spend peaked in July, with over $220K spent primarily on Facebook and Instagram, generating impressions in the tens of millions.

Conclusion

The Q3 2023 data underscores the dynamic nature of the credit and lending sector in Canada, with Credit Karma, Borrowell, and MBNA Canada leading the charge. Sensor Tower's unparalleled insights into web, app, and advertising data provide a comprehensive view of user behavior across platforms. For detailed insights into cross-platform user engagement, Sensor Tower's offerings, including Web Insights, Pathmatics, and App Performance Insights, remain indispensable tools for market analysis.