Leading Financial Services Brands in the UK: Q3 2024 Analysis

In the dynamic landscape of the UK’s financial services, several brands have emerged as leaders in terms of audience reach and engagement across digital platforms. In Q3 2024, PayPal, Monzo Bank Ltd, and Lloyds Bank have shown significant trends in their online presence. Sensor Tower’s comprehensive data provides insights into these trends, covering web and app interactions, advertising spend, and user engagement.

PayPal

PayPal is renowned for its robust digital ecosystem, which includes its website, paypal.com, and the PayPal - Pay, Send, Save app.

• Audience Trends: From Q2 to Q3 2024, PayPal’s website maintained a stable monthly visitor count, with visits hovering above 50M. Unique monthly visits showed a slight increase, reaching over 8M in September. The monthly true audience remained steady above 13M, with a balanced distribution between web-only and app-only visitors.

• App Engagement: The app’s monthly active user base was consistent, averaging around 8.5M. This indicates a strong preference for mobile transactions among users.

• Ad Spend & Channels: PayPal’s monthly advertising spend varied, peaking in June at approximately $177K, with notable impressions on Instagram and YouTube. Facebook remained a consistent channel, despite a decrease in spend.

Monzo Bank Ltd

Monzo is a digital-first bank known for its innovative approach to personal finance, anchored by its website, monzo.com, and the Monzo Bank - Mobile Banking app.

• Audience Trends: Monzo.com experienced growth in monthly visits, peaking at 6.9M in July. The monthly true audience surpassed 11M, with app-only users forming the majority, reflecting a strong mobile-first strategy.

• App Engagement: The app showed a steady increase in monthly active users, reaching nearly 11M in September, highlighting growing user reliance on mobile banking.

• Ad Spend & Channels: Monzo’s advertising efforts were robust, with monthly spend exceeding $6M in August. YouTube and TikTok were major channels, delivering substantial impressions.

Lloyds Bank

Lloyds Bank, a staple in UK banking, offers comprehensive digital services through its website, lloydsbank.com, and the Lloyds Mobile Banking app.

• Audience Trends: The website showed fluctuating monthly visits, reaching over 42M in July. The monthly true audience remained around 10M, with a significant portion using both web and app platforms.

• App Engagement: The app maintained a stable monthly active user base, averaging over 9M, indicating consistent user engagement.

• Ad Spend & Channels: Lloyds Bank’s monthly ad spend saw a peak in June at approximately $1.7M, with significant impressions across Instagram and Facebook.

Conclusion

In Q3 2024, PayPal, Monzo Bank Ltd, and Lloyds Bank demonstrated strong digital engagement in the UK financial services sector. Sensor Tower’s unparalleled data, encompassing web, app, and advertising insights, reveals distinct strategies and audience interactions. By leveraging Sensor Tower’s Web Insights, App Performance Insights, and Pathmatics, businesses can gain critical insights into cross-platform user behavior, ensuring they remain competitive in this evolving market.

Sensor Tower’s data-driven approach offers unique advantages for decision-makers, providing a strategic edge in understanding and capitalizing on market trends.