How to leverage AI in marketing to boost retention and revenue for your fintech app
- Only 3.1% of users who download a finance app are retained by day 30.
- Finance apps account for 87% of all app install ad spend in Africa.
- Fintechs face a leaking funnel with little Return on Ad Spend (ROAS) due to low retention rates.
The low retention rate of finance apps is a significant concern for the fintech industry, indicating a need for innovative strategies to enhance user engagement. While Generative AI presents promising solutions for personalization, companies must navigate ethical and legal challenges to avoid potential pitfalls. A balanced approach that prioritizes user experience while adhering to regulations will be crucial for sustainable growth in this sector.
