Leading Brands in Credit & Lending: Q3 2023 Performance Analysis

Introduction

In the fast-evolving Credit & Lending sector, several brands have made significant strides in Q3 2023. This article delves into the performance of top brands such as Credit Karma, Experian, and Affirm, highlighting their audience trends, app engagement, and advertising efforts. Sensor Tower's comprehensive data provides unique insights into these brands' digital presence across web and app platforms.

Credit Karma, Inc.

Credit Karma is renowned for its personal finance services, offering free credit scores and financial advice through its website, creditkarma.com, and the Intuit Credit Karma app.

• Audience Trends: From Q2 to Q3 2023, creditkarma.com experienced a gradual decline in visits, dropping from over 116M in June to around 82M in September. The monthly true audience remained stable above 46M throughout the quarter, with a notable shift towards app-only users, peaking at over 30M.

• App Engagement: The app's monthly active users hovered around 32M, reflecting consistent user engagement.

• Ad Spend & Channels: Credit Karma's monthly ad spend peaked in July at over $5.7M, with OTT channels dominating impressions. A significant drop in September's ad spend to around $1.1M was observed, with OTT and Snapchat leading the impressions.

Experian

Experian is a global leader in consumer and business credit reporting, with a strong digital presence marked by its website, experian.com, and the Experian app.

• Audience Trends: Experian.com saw a decline in visits from 120M in June to approximately 85M in September. The monthly true audience remained stable, averaging around 23M, with a balanced distribution between app-only and web-only visitors.

• App Engagement: The Experian app maintained a steady monthly active user base, with users consistently around 8M.

• Ad Spend & Channels: Experian's monthly ad spend was highest in April at nearly $4M, primarily through OTT channels. The following months saw a reduction, with September's spend at approximately $1.4M.

Affirm

Affirm is known for its innovative "buy now, pay later" solutions, showcased through affirm.com and the Affirm: Buy now, pay over time app.

• Audience Trends: Affirm.com experienced fluctuating visits, peaking at approximately 35M in May before declining to 23M in September. The monthly true audience remained above 10M, with a consistent app-only user base exceeding 6M.

• App Engagement: The app's monthly active users increased steadily, reaching over 7M by September, indicating growing user interest.

• Ad Spend & Channels: Affirm's monthly ad spend was highest in May at around $115K, with Instagram leading in impressions. Subsequent months saw a decrease, with September's spend around $53K.

Conclusion

The Credit & Lending sector in Q3 2023 highlights distinctive trends for leading brands. Credit Karma, Experian, and Affirm each exhibit unique strengths and strategies, as shown by Sensor Tower's unparalleled data insights. These insights, encompassing web and app engagement along with advertising performance, are crucial for understanding cross-platform user behavior and guiding strategic decisions.

For more detailed insights, explore our Web Insights, Pathmatics, and App Performance Insights offerings.