Finance apps see 20% coronavirus surge with PayPal, Monzo and Barclays taking the lead

By Oliver Smith on Thursday 2 April 2020

Digital BankingSavings and Investment

Stock trading apps have also seen "strong growth amid continued market uncertainty".

Finance apps see 20% coronavirus surge with PayPal, Monzo and Barclays taking the lead
Image source: Photo by RUN 4 FFWPU from Pexels.

Since the world has entered this period of global lockdown many things have changed, including the most downloaded apps in the App Store.

Zoom, Houseparty and Microsoft Teams have all benefited from the surge, but so too have personal finance and share trading apps.

According to data from App Annie, average weekly app downloads for finance apps jumped 20 per cent in March compared to Q4 2019.

“This is expected, as banks advise consumers to access online banking where possible,” the mobile data and analytics group told AltFi.

In particular, PayPal, Monzo and Barclays Mobile Banking were the most downloaded finance apps in March 2020.

Another spike came from trading apps which “have also seen strong growth amid continued market uncertainty,” said App Annie.

In March Trading 212 was the top breakout finance app by change in the number of downloads, while Plus500 and Hargreaves Lansdown also performed strongly.

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