Commonwealth Bank has provided some insights in to their v5 app:
- More than 300,000 additional customers have started using the app, taking total unique users from 7.8m (in June 2023) to 8.1m (in October 2023);
- Daily log-ins to the app have increased to more than 11m per day – annualised this equates to 4bn log-ins per year, which is 1bn (33%) more than the number of log-ins seen over the prior year;
-The average app customer now logs in 41 times a month, with 20-29 year olds doing so almost twice a day (51 log-ins per month), and over 65s using the app almost every day (24 log-ins per month);
- Customers now use the app to process around $2.5bn in payments a day (up 23% year-on-year)