Okta’s latest [email protected] report, highlighting how businesses are exploring workforces, customers, and the applications they use to be productive. The results from over 7,400 Okta customers reveal a shakeup of new apps dominating the workforce, revealing the top 10 banking and finance apps businesses are using:
· Growth of banking and finance apps: It’s a pain to switch banks. There’s the paperwork, and the hassle of reconfiguring direct deposits and automatic payments. The friction in changing financial institutions gives established banks an edge for retaining customers. So it’s no surprise that banking and finance apps continue to grow along steady trajectories. PayPal’s growth remained parallel with major banking institutions, keeping the lead in the Okta app ecosystem for over three years. And while the growing flock of disruptive financial technology (“fintech”) companies beyond PayPal have shown growth in Okta’s network, Okta does yet see them on its top banking and finance apps. Venmo currently is growing at 93% year over year (when including personal adoption in addition to corporate).
Convenience and efficiency applications are thriving: Employees want low cost, flexible education opportunities they can fit into their busy schedules, and LinkedIn Learning and Grammarly led the way. Okta also found consumers prefer frictionless banking and finance apps that take the hassle out of managing money, like PayPal and Venmo. And when it comes to travel, Airbnb’s user-friendly platform still snags a reservation on the top hotel and lodging apps list.
The massive growth of data management apps: Data tools that empowered organisations to make informed decisions faster soared to the top this year, with Snowflake landing the #1 spot on the fastest-growing list with a whopping 273% growth year over year. Data focussed apps such as Atlassian Opsgenie, Google Cloud Platform, Splunk, Looker, and Envoy also seeing rapid growth. The report revealed that the fastest growing apps go on to achieve big success. The previous fastest growing apps over the past five years — Slack (a double winner), Zoom, Jamf, and KnowBe4 — have all gone on to secure growth equity or go public.
Find out more about the growth in the use of apps in other sectors by consulting the full report.