May 15, 2025 — The finance app market is thriving, with mobile banking and investment platforms leading the charge, according to Similarweb’s “2025 The State of Finance Apps” report. Released today, the report highlights how Americans are increasingly managing their money on the go, reshaping the financial landscape.
The State of Finance Apps 2O25.
Mobile banking apps are at the forefront, with 67% of U.S. consumers using them in 2024, up from 61% the previous year. Big names like Chase Mobile (12% user growth) and Bank of America Mobile (9% growth) remain dominant, but digital banks are stealing the spotlight. Chime’s monthly active users (MAUs) jumped 28%, and SoFi’s rose 19%, appealing to millennials and Gen Z with sleek, app-first experiences.
Investment apps are also surging, driven by retail trading and crypto enthusiasm. Robinhood’s MAUs climbed 34%, while Webull soared 41%, boosted by its cryptocurrency features. Even traditional players like Fidelity (8% growth) and Charles Schwab (7% growth) are seeing steady gains as investors diversify.
Personal finance apps are another bright spot. Monarch Money, a budgeting app, saw a staggering 724% increase in downloads, making it a standout in 2024. Crypto wallets like Solflare also exploded, with MAUs up 513%, signaling strong interest in decentralized finance despite market volatility.
“Consumers are demanding real-time control over their finances, and apps are delivering,” said Marta Sułkiewicz, VP of Global Research Solutions at Similarweb. “The competition between legacy banks and fintech startups is creating a richer, more accessible financial ecosystem.”
However, challenges remain. Nearly a quarter of users (23%) ditch finance apps within 30 days, highlighting retention issues. Privacy concerns also loom large, with 31% of users wary of data security.
Urban areas like New York and San Francisco lead in app usage, with 78% of residents checking finance apps daily. Younger users are driving the trend, with 82% of 18–34-year-olds relying on at least one finance app.
For businesses, the report offers a roadmap to capitalize on this digital shift. With finance app downloads up 15% in 2024, the market is ripe for innovation—but only for those who can build trust and keep users engaged.
Read the full report at Similarweb.
Source: Similarweb’s 2025 The State of Finance Apps report, based on data from over 100 million websites and apps.
