In the fast-paced world of Australian fintech, data is the currency—and few metrics are as closely watched as Monthly Active Users (MAU). As 2025 ushers in tighter competition, new regulatory oversight, and higher consumer expectations, understanding and optimising MAU has become more than a vanity metric; it’s a make-or-break KPI for banks, neobanks, and every digital finance player in between.
What is MAU and Why Does It Matter in 2025?
Monthly Active Users (MAU) tracks the unique number of individuals who engage with your product or service over a 30-day period. In fintech, this typically means people logging in, transacting, or using a digital feature at least once a month. For ASX-listed financial platforms, MAU is often reported in quarterly results to demonstrate traction and market relevance.
- Market Validation: MAU reflects real-world demand. A surging MAU signals product-market fit, while a plateau could indicate stagnant growth or competitive threats.
- Investor Magnet: Venture capital and institutional investors prioritise MAU growth when assessing fintech startups and scale-ups. In 2025, with funding tightening, MAU is more critical than ever for securing capital.
- Regulatory Benchmark: As ASIC and APRA increase scrutiny on digital banking and payments providers, MAU is often used in compliance reporting to demonstrate operational scale and customer engagement.
Measuring MAU: Best Practices and Pitfalls
On paper, MAU seems simple—but the devil is in the detail. Accurate tracking in 2025 means more than just counting logins. Here’s what leading Australian fintechs are doing:
- Define ‘Active’ Carefully: Does a user count if they merely open the app, or must they complete a transaction? The definition can materially change your MAU figures and affect investor perception.
- De-duplicate Users: With multi-device usage rampant, ensure your analytics stack recognises the same user across platforms (mobile, web, wearable) to avoid inflation.
- Segment by Cohort: Break down MAU by age, region, or product line. In 2025, platforms like Afterpay and Up Bank are reporting segmented MAU to showcase growth in high-value demographics.
- Beware of Bots: ASIC’s 2025 digital compliance guidelines specifically warn against including non-human traffic in MAU disclosures, following several high-profile enforcement actions in 2024.
For example, Xero’s most recent quarterly update separated “active business subscribers” from one-time users, providing clearer insight for shareholders and regulators alike.
Driving MAU Growth: Strategies That Work in 2025
So how do top fintechs keep MAU climbing, especially in a market where customer acquisition costs have risen by 18% year-on-year (according to Fintech Australia’s 2025 Benchmarking Report)?
- Personalisation: Platforms like CommBank are leveraging AI-driven insights to deliver tailored financial nudges and offers, boosting monthly engagement rates.
- Embedded Finance: Partnerships with retailers and service providers (think: buy-now-pay-later at checkout) are bringing financial products to where users already spend time, expanding MAU organically.
- Regulatory Tech (RegTech): New APRA requirements on digital identity mean platforms with seamless eKYC and fraud prevention are winning user trust—and repeat visits.
- Retention Campaigns: The most successful 2025 fintechs focus as much on retaining users as acquiring them, using targeted re-engagement push notifications and loyalty programs.
Take the example of Zip, which boosted MAU by 22% in 2025 Q1 after launching a cross-platform rewards program and streamlining its onboarding process in line with new AUSTRAC guidelines.
Beyond the Numbers: The Future of MAU in Australian Finance
In 2025, MAU is no longer just a growth vanity metric. With open banking APIs and Consumer Data Right (CDR) reforms expanding, MAU is evolving to reflect genuine financial participation and ecosystem health. Real-time MAU dashboards are now standard in boardrooms, influencing everything from product roadmaps to compliance audits.
As digital wallets, superannuation apps, and lending platforms proliferate, MAU will continue to separate the serious contenders from the also-rans. In a world where every user counts, those who understand and act on MAU insights will shape the next chapter of Australian finance.
