Find Out How Your Financial Services Site Measures Up To Competitors

Find Out How Your Financial Services Site Measures Up To Competitors

Jamie Drayton

Jamie Drayton

Head of Financial Services at SimilarWeb

The world of financial services is undergoing rapid changes. Whether it’s new regulation, fintech disruptors, or a shift from physical banks to online – today’s financial services consumers want something different, are more informed and are less loyal than their predecessors.

Creating an online presence that is memorable and resonates with consumers’ needs is incredibly complicated, as people need to be able to easily find answers to their most pressing financial questions. For FinServ companies, this means putting a greater emphasis on making a good that is timely and relevant, overcomes , and beats what the competition is offering. 

To help you be more effective, we created this compilation of website benchmarks that compares the Finance category against all other categories on and highlights the usage differences between the various finance segments. 

Financial Services Benchmarks

Top 10 Finance Sites in the World

PayPal was the most viewed financial services website in the world in July 2020 with 565M visits and 205M unique users. The average time that visitors spend on the site is just over 5 minutes, and on average, they view 5.92 pages per visit. 

Chase (an American bank) and Investing.com (a leading financial portal) are next on the list with 190M and 167M monthly visits, respectively. Wells Fargo, another top bank, ranks in 4th place. On average, visitors remain on Well Fargo’s site for five and a half minutes and 18% of those visits bounce after viewing just one page. 

Other sites rounding out the top 10 are Bank of America (with 143M visits in July), Intuit (123M), Capital One (107M), Market Watch (104M), TradingView (96M), and Fidelity (87M).

Top 10 Sites by Finance Segment

When looking at subcategories within Finance, the Financial Planning and Management segment stands out with an average of 105M monthly visits and 34M unique users. As seen below, the top domains in this segment include third-party payment services such as PayPal, AliPay, and Rakuten Card, as well as human resources and financial information software like ADP and Experian

Other notable finance subcategories are Banking Credit and Lending (which comprises top banks and credit card issuers), and Investing (which includes investing and stock market information sites). The average monthly visits for these two segments are 97M and 78M, respectively. Chase is the #1 domain for banking sites with 190M monthly visits and 41M unique users, and Investing.com tops the list for investing sites with 167M visits and 25M unique users. 


Top Countries Responsible for Traffic

Which countries receive the most FinServ visitors? Unsurprisingly, the United States, where , tops the list with close to 25% of traffic and 1.7B monthly visits. Next in line are France (4.5% traffic share, 317M monthly visits), India (4.2%, 299M), Russia (3.7%, 264M), Japan (3.6%, 256M), Canada (3.6%, 252M), and Brazil (3.4%, 242M).

Top 5 Countries by Financial Services Segments

  • Accounting and Auditing – includes sites like deloitte.com and kontur.ru:
    • Russia – 25.0%
    • U.S. – 17.7%
    • India – 13.0%
    • Poland – 12.4%
    • Ukraine – 4.7%
  • Banking Credit and Lending – includes sites like chase.com and capitalone.com:
    • U.S. – 48.1%
    • Canada – 7.3%
    • Russia – 5.5%
    • Poland – 5.4%
    • India – 5.2%
  • Financial Planning and Management – includes sites like paypal.com and alipay.com:
    • U.S. – 18.5%
    • France – 15.3%
    • Venezuela – 9.0%
    • Japan – 5.8%
    • Argentina – 5.6%
  • Investing – includes sites like investing.com and tradingview.com:
    • U.S. – 30.0%
    • Japan – 10.8%
    • India – 9.2%
    • China – 8.6%
    • Brazil – 5.5%
  • Insurance – includes sites like progressive.com and ameli.fr:
    • U.S. – 65.6%
    • France – 10.9%
    • India – 6.5%
    • U.K. – 6.4%
    • Germany – 3.6%

As shown above, the U.S. is also the top country for most subcategories, excluding Accounting and Auditing. America’s dominance is most prominent in the Banking Credit and Lending (45%) and Investing (34%) segments. Russia, France, and India are three additional markets with large numbers of online financial users. 

To be able to target global markets effectively, you need to formulate a clear and localized keyword strategy for each country. For a more detailed guide on how to develop content that attracts a global audience, download our recent report, Creating an International SEO Strategy.

Device Distribution

  • Average for all categories on the internet (July 2020): Desktop – 48.92%; Mobile Web – 51.08%   
  • Top 100 sites in the Finance category: Desktop – 54.59%; Mobile Web – 45.41%   
  • Top 25 sites in the Finance category: Desktop – 53.93%; Mobile Web – 46.07%   

Financial Services Benchmarks

Finance sites get most search queries from desktop devices such as laptops and personal computers – and desktop is the largest source of traffic (by a margin) to nearly all of the subcategories. This is interesting, given the fact that for the overall internet average, there is a slight advantage for mobile web usage (51.08%) over desktop (48.92%).

What this means if you’re a FinServ provider is that you need to make sure your services and products are easily accessible on both desktop and mobile devices in order to ensure success.

Device Distribution by Segments

  • Accounting and Auditing: Desktop – 66.58%; Mobile Web – 33.42%
  • Banking Credit and Lending: Desktop – 59.80%; Mobile Web – 40.20%
  • Financial Planning and Management: Desktop – 51.63%; Mobile Web – 48.37%
  • Investing: Desktop – 58.37%; Mobile Web – 41.63%
  • Insurance – Desktop – 44.84%; Mobile Web – 55.16%

Traffic Channels

Direct was the top source of desktop traffic to finance sites in the past 12 months (58.4%), followed by organic search (19.4%), and referrals (14.7%).

在线视频Comparing these figures to the average for all categories on the internet reveals two interesting trends:

    • Direct vs. paid acquisition: on the one hand, direct traffic to financial sites to relatively high (58.4%) – this is largely driven by existing customers for many of these sites. Yet, on the other hand, the percentage of paid acquisition is above-average for this category, indicating there is intense competition for relevant audiences through paid channels such as partner sites, PPC, and display ads.
    • Affiliates are key to FinServs: leveraging the power of affiliate marketing is important for all site owners and marketers, regardless if you’re in the finance industry or not. But for financial services this channel of acquiring customers is very effective as people often don’t know what and where to manage their money and savings, and turn to personal finance and product review sites for answers.

If you’re running a FinServ website, make sure you’re taking full advantage of understanding the strengths of your competitors vs. your performance. Compare the average marketing mix for the industry with your own website and digital strategy to see how you stack up against your peers. 

Search Traffic: SEO & PPC

The SEO-to-PPC ratio for FinServ companies is another indication of strong brand awareness and the high competitiveness of finance-related keywords. 4.27% of traffic to the top 100 sites in the category comes from paid search, and branded keywords make up approximately 30% of the 370K search terms driving traffic to the category. 

The average price that finance sites pay for a click on their ads in , also known as CPC, or Cost-Per-Click, is $2.34, which is almost 3x the internet average of $0.85 CPC. 

Financial Services Benchmarks

Demographics

Age Groups

Having access to your visitors’ demographics is crucial for your content strategy. It can give you valuable insights into how your company’s content is working, and where you need to double down on marketing. For example, and as seen in the graph below, if you aren’t already targeting younger consumers – you should be. At an average of 29%, 23-34 year-olds are the heaviest FinServ users in the world. 

Gen Zers and 34-44 year-olds are also major age groups, representing on average 24% and 20% of FinServ users in the last 12 months, respectively. Not surprisingly, these three age groups make up the majority of users at 73%, indicating companies need to make sure their marketing efforts are optimized for younger audiences. However, each age group needs to be targeted differently. SEO keyword research and are particularly important in those efforts.

Financial Services Benchmarks

This trend is relevant for all FinServ subcategories as well, and especially Investing, which has a total of 72% of users that fall in the first three age groups.

Gender Ratio

  • Average for all categories: Male – 57%, Female – 43%
  • Finance category: Male – 56%, Female – 44%

Gender Ratio by Subcategories

In line with the internet average, men make up the majority of viewers in the finance category and subcategories. The Investing subcategory has a significantly high number of male users (66%), followed by Financial Planning and Management (54%). On the other hand, Accounting and Auditing enjoys a female majority of 52%.

  • Accounting and Auditing: Male – 48%, Female – 52%
  • Banking Credit and Lending: Desktop – Male– 53%, Female – 47%
  • Financial Planning and Management: Male– 54%, Female – 46%
  • Investing: Desktop – Male– 66%, Female – 34%
  • Insurance – Male– 52%, Female – 48%

Key Engagement Metrics

Your visitors’ on-site experience plays a crucial role in determining if they will continue their browsing session. Does your site load quickly? Is your conversion funnel based on multiple pageviews? How relevant is your offering to people’s financial needs?

  • Average visit duration – 6m 52s (vs. 11m 57s for internet average)
  • Average pages per visit – 7.2 (vs. 8.3 for internet average)
  • Average bounce rate – 47.28% (vs. 37.36% for internet average)

Financial Services Benchmarks

The average duration of a visit to a financial site is 06:52, which is 42% less when compared to the average on the internet (11:57). However, focusing on the top 25 sites, we see a much higher visit duration (08:40), suggesting that the leading players in the market are creating engaging content that is relevant to readers (or alternatively, that they are delivering frustrating user experiences).

The outlier subcategory is Investing with an average visit duration of 11:42. The graph below shows that four of the top ten investing sites have average visit durations of over nine minutes, with two – Money Control and Easy Money – enjoying over 20 minutes. 

Financial Services Benchmarks

In terms of bounce rate, FinServ companies fall behind other internet companies meaning there is an opportunity to improve digital content and decrease the average number of users who leave after viewing just one page. Accounting and Auditing’s and Investing’s exceptionally high bounce rates of 56% and 46%, respectively, highlight a problem these sites are having at attracting new customers.

Below is a breakdown of these engagement metrics according to subcategory: 

Accounting and Auditing

  • Average visit duration – 5m 19s 
  • Average pages per visit – 5.7 
  • Average bounce rate – 56.35%

Banking Credit and Lending 

  • Average visit duration – 5m 40s 
  • Average pages per visit – 7.4 
  • Average bounce rate – 25.60%

Financial Planning and Management

  • Average visit duration – 5m 20s 
  • Average pages per visit – 6.4 
  • Average bounce rate – 28.49%

Investing

  • Average visit duration – 11m 42s 
  • Average pages per visit – 5.7 
  • Average bounce rate – 46.03%

Insurance

  • Average visit duration – 6m 49s 
  • Average pages per visit – 6.2 
  • Average bounce rate – 38.03%

Top Finance Apps in the U.S.

While traditional banking and payment services continue to dominate the landscape, the recent years have brought some significant changes in terms of how people manage their finances on the go. Disruptive fintechs, trading apps, and neobanks such as Monzo and Revolut have become the preferred form of payment and investing for millions of users across the world.

Android: Top 10 Free Finance Apps in the U.S.

Chase Mobile was the top-ranking financial services app on Android in August 2020, followed by Wells Fargo, Bank of America Mobile Banking, Samsung Pay, Robinhood, and Chime. The average monthly downloads and monthly active users across the set were 1.2M and 4.2M, respectively. These numbers give you an indication of where you compare to the best players in the market.

App Store: Top 10 Free Finance Apps in the U.S.

On Apple’s App Store, Cash App comes on top with an average of 2M downloads a month and 15.7M active monthly users. Cash App is followed by three mobile payment apps Venmo, PayPal, and Zelle, as well as Robinhood and Credit Karma. The leading traditional banks – Chase Mobile, Bank of America Mobile Banking, Wells Fargo Mobile, and Capital One Mobile – close the top 10.

Mobile App Engagement

App Usage – Time of Day

Knowing when your users log into and use your financial app helps you prepare the technical infrastructure to support a smooth user experience (UX) and, more importantly, it also lets you efforts. As seen below, the majority of app usage in the finance category takes place between 11 AM to 2 PM (in the user’s time zone).

App Usage – Day of the Week

Of equal importance is the days of the week in which users typically use finance apps. Tuesday through Friday is when most of this activity takes place. Unsurprisingly, the weekend has the smallest percentage of weekly usage: 12% on Saturday and 11% on Sunday.

5 Tips for Financial Services Companies

Watch this video to learn about emerging trends in the financial services industry. The video explains what banks, credit card providers, and affiliates can do to create an effective marketing strategy. 

This blog was written in collaboration with Daniel Schneider, Content Marketing Manager at SimilarWeb.

Want to discover more industry benchmarks on how your FinServ site stacks up against the competition in conversions? Fill in your details below to download our two-pager on “5 Conversion Rate Benchmarks for the Financial Services Industry”.

Jamie Drayton

Jamie Drayton

在线视频 Head of Financial Services at SimilarWeb

Jamie Drayton is Lead Financial Services and Retail Consultant at SimilarWeb. He has a background in eCommerce consulting services for business development and growth. He covers emerging consumer trends in eCommerce, finance, and more.


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