Report: Fintech daily active users increase by 337%

According to a new report by Amplitude, the number of daily active users of fintech products has grown 337% since January 2020.

Digital is a massive opportunity for organizations, but what kinds of applications and products are people using the most? Amplitude identified the top 20 next hottest products based on user growth, and found that many of them — such as SmartRecruiters, CloudApp, Productiv, and Stoplight — offer B2B solutions for enterprise companies. The exponential growth in usage of these products indicates just how much today’s businesses need solutions that facilitate remote work at scale as hybrid work continues for the foreseeable future.

Every industry is experiencing digital expansion, with some expanding more than others. In particular, the fintech industry has seen exponential growth thanks to the rise in digital usage. Ecommerce activity and retail solutions have also taken off. At the start of the pandemic, from March 22 to April 17, 2020 ecommerce activity surged by 60%. A year later, the industry is holding steady at a growth rate of 56% as compared to January 2020.

The data also shows interesting cultural trends: AllTrails — a hiking app — is most popular in mountainous states like Alaska, Colorado, Maine, and New Hampshire, while OnXMaps, a hunting app, is the top product in seven states, including Idaho and Montana.

Amplitude has access to data from more than 6,000 digital products across over 1,200 companies, and its Behavioral Graph tracks 900 billion+ data points monthly. Leveraging this expansive dataset, the Digital Product Report analyzes event data from January 1, 2020, to August 31, 2021, to showcase trends that are representative of the state of digital products across regions and industries. Data about global trends were based on anonymized, aggregated data sent to Amplitude.

Read the full report by Amplitude.

Originally appeared on: TheSpuzz