Leading Brands in Consumer Finance: Q4 2024 Overview

In the rapidly evolving landscape of consumer finance, certain brands have emerged as leaders by leveraging both web and mobile platforms to engage with a broad audience. In this article, we explore the performance and trends of three leading brands in Canada during Q4 2024: CIBC Mobile App, Scotiabank Mobile App, and Remitly. Our analysis draws on comprehensive data provided by Sensor Tower, showcasing the unique cross-platform insights available through our services.

CIBC Mobile App

CIBC is recognized for its comprehensive banking solutions, accessible through the cibc.com website and the CIBC Mobile Banking app.

• Audience Trends: From Q3 to Q4 2024, the monthly deduplicated audience for CIBC remained stable above 5.4M. The website received consistent traffic, with visits slightly decreasing from 30M in September to 29M in December.

• App Engagement: The app maintained strong engagement, with monthly active users hovering around 3.6M throughout the quarter.

• Ad Spend & Channels: Notably, CIBC did not allocate any monthly advertising spend in this period, indicating a focus on organic engagement.

Scotiabank Mobile App

Scotiabank is a key player in the financial sector, with its digital presence anchored by scotiabank.com and the Scotiabank app.

• Audience Trends: The monthly deduplicated audience remained strong, consistently above 4.4M. Web visits were stable, averaging around 29M in Q4.

• App Engagement: The app's monthly active user base remained steady, with a slight peak to 1.9M active users in October.

• Ad Spend & Channels: Scotiabank ramped up its advertising efforts in Q4, with a notable monthly spend on Instagram and Facebook, reaching over 2M impressions in October alone.

Remitly

Remitly, known for its international money transfer services, extends its reach through remitly.com and the Remitly: Send Money & Transfer app.

• Audience Trends: The monthly deduplicated audience for Remitly saw a gradual increase, surpassing 880K by December. Website visits also climbed, reaching over 1.3M in December.

• App Engagement: The app maintained a consistent monthly active user base, around 420K throughout the quarter.

• Ad Spend & Channels: Remitly's advertising strategy was robust, with significant monthly spending across multiple platforms, including YouTube and Facebook, achieving over 200M impressions in September.

Conclusion

The data from Q4 2024 highlights how leading brands in the consumer finance category are effectively leveraging both web and mobile platforms to maintain strong engagement with their audiences. Sensor Tower's comprehensive data offerings, including Web Insights, App Performance Insights, and Pathmatics, provide unparalleled insights into these cross-platform dynamics, allowing brands to optimize their digital presence effectively. These insights empower decision-makers to strategically enhance their digital strategies, ensuring sustained growth and engagement.