{"id":63094,"date":"2021-03-12T17:59:59","date_gmt":"2021-03-12T17:59:59","guid":{"rendered":"https:\/\/www.similarweb.com\/corp\/?p=63094"},"modified":"2025-03-27T12:08:26","modified_gmt":"2025-03-27T12:08:26","slug":"finance-digital-strategies","status":"publish","type":"post","link":"https:\/\/www.similarweb.com\/blog\/research\/market-research\/finance-digital-strategies\/","title":{"rendered":"Top 3 Digital Strategies For Financial Services Companies"},"content":{"rendered":"

The COVID-19 pandemic prompted the greatest acceleration of digital banking in history. According to Fidelity National Informations Services, mobile banking registrations jumped 200% in April<\/a>. Bankers like Mike Mayo, a Wells Fargo analyst, explains, <\/i>\u00a0\u201cWhat\u2019s taken place over the last few months may have taken place over two to 10 years if the pandemic had not come along.” The result: All eyes are on financial services trends and strategies for the top players.<\/p>\n

To better understand the modern banking landscape and improve your company’s performance, we highlight top digital strategies<\/a> for financial services providers based on insights from Jamie Drayton, our lead finance industry<\/a> consultant:<\/p>\n

Traffic to mortgage sites soared<\/h2>\n

Traffic to mortgage sites grew 71% year-over-year (YoY) \u2013 triple the rate of overall financial services (+25%) in 2020.<\/p>\n

Why?<\/h3>\n

A powerful combination of low-interest rates and surging interest in homeownership due to the pandemic. The growing number of people looking to buy homes in less crowded suburbs generated web traffic<\/a> to lenders.<\/p>\n

What were the top mortgage websites?<\/h3>\n

In the mortgage websites<\/a> space, Rocket mortgage won the highest share of voice (SOV)<\/a> \u2013 nearly a third by year\u2019s end. It also had the highest traffic share<\/a> (92%), nearly doubling from June, and widening gaps between competitors.<\/p>\n

Of its competitors, Loan Depot experienced the most digital growth, +173% (YoY). It also doubled its SOV to 9.17%<\/p>\n

Among more traditional banks, Chase\u2019s mortgage segment grew 97%, exceeding the industry average. Wells Fargo experienced the least growth among competitors pictured.<\/p>\n

Traffic to financial services sites<\/a>: Rocket Mortgage had the highest traffic share; Chase’s mortgage segment exceeded industry growth<\/p>\n

\"Financial<\/p>\n

Direct and organic traffic propel banking’s digital strategy<\/h2>\n

Direct channels drove Chase\u2019s traffic growth with more than half of its clicks coming through chase.com<\/a>. This also indicates the highest brand awareness<\/a> among banks.<\/p>\n

Organic search helped boost runners-up Bank of America and Wells Fargo, which received 66% and 80% of traffic through organic search, respectively.<\/p>\n

Which organic search campaigns highlight the bank’s digital strategy?<\/h3>\n

Bank of America focused website content on financial literacy, which attracted traffic. Among the top five banks in the U.S.<\/a> (which also includes Chase, Citi, Wells Fargo, and U.S. Bank), bankofamerica.com<\/a> received 45% of all clicks from educational-related queries.<\/p>\n

\"Financial<\/a>

Bank of America’s Better Money Habits blog answers finance questions\u00a0<\/em><\/p><\/div>\n

The top questions<\/a> driving traffic to Bank of America\u2019s site relate to budgeting, saving money, mortgages, and taxes.<\/p>\n

Want to learn more about the impact of financial literacy on banks’ web traffic?<\/strong>

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\n <\/div>\n <\/div>\n<\/div>\n\n<\/p>\n

How mortgage industry disruptors are gaining<\/h2>\n

Own Up,<\/a> which saw a 154% traffic surge in 2020, outpaced the growth of the mortgage industry by targeting consumers who are just beginning to think about purchasing a home. Through focusing on consumers this early in the funnel and providing helpful educational content, Own Up is dedicated to establishing a brand synonymous with an easy home buying process.<\/p>\n

Instead of going up directly against the big banks by purely focusing on content and keyword related to mortgages, Own Up invests in long-tail<\/a> question queries.<\/p>\n

Want more details on Own Up and other industry disruptors’ strategies?\u00a0<\/strong>

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\n <\/div>\n <\/div>\n<\/div>\n\n<\/p>\n

Looking for more financial services insights?<\/h2>\n

Although this is just a quick snapshot of mortgage and banking industry insights, we invite you to watch Jamie Drayton\u2019s webinar, \u201cBanking & Mortgage Disruptors: Performance and Predictions<\/a>\u201d for more learnings.<\/p>\n

See you there.<\/p>\n

\"Understand<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The COVID-19 pandemic prompted the greatest acceleration of digital banking in history. According to Fidelity National Informations Services, mobile banking registrations jumped 200% in April. Bankers like Mike Mayo, a Wells Fargo analyst, explains, \u00a0\u201cWhat\u2019s taken place over the last few months may have taken place over two to 10 years if the pandemic had […]<\/p>\n","protected":false},"author":314,"featured_media":65665,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[6467,2809],"tags":[],"class_list":["post-63094","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-market-research","category-research"],"acf":[],"yoast_head":"\nBanking Digital Strategies & Mortgages Online Growth | Similarweb<\/title>\n<meta name=\"description\" content=\"Uncover winning banking digital strategy for and learn from banking and mortgage providers, both traditional and disruptors in financial services\" \/>\n<meta name=\"robots\" content=\"max-snippet:-1, max-image-preview:large, max-video-preview:-1\" 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