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• Open Banking Security 101 : Is open banking safe ?

  3 décembre 2024, par Daniel Crough — Banking and Financial Services

  Open banking is changing the financial industry. Statista reports that open banking transactions hit $57 billion worldwide in 2023 and will likely reach $330 billion by 2027. According to ACI, global real-time payment (RTP) transactions are expected to exceed $575 billion by 2028.

  Open banking is changing how banking works, but is it safe ? And what are the data privacy and security implications for global financial service providers ?

  This post explains the essentials of open banking security and addresses critical data protection and compliance questions. We’ll explore how a privacy-first approach to data analytics can help you meet regulatory requirements, build customer trust and ultimately thrive in the open banking market while offering innovative financial products.

   

  

  

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  What is open banking ?

  Open banking is a system that connects banks, authorised third-party providers and technology, empowering customers to securely share their financial data with other companies. At the same time, it unlocks access to more innovative and personalised financial products and services like spend management solutions, tailored budgeting apps and more convenient payment gateways. 

  With open banking, consumers have greater choice and control over their financial data, ultimately fostering a more competitive financial industry, supporting technological innovation and paving the way for a more customer-centric financial future.

  Imagine offering your clients a service that analyses spending habits across all accounts — no matter the institution — and automatically finds ways to save them money. Envision providing personalised financial advice tailored to individual needs or enabling customers to apply for a mortgage with just a few taps on their phone. That’s the power of open banking.

  Embracing this technology is an opportunity for banks and fintech companies to build new solutions for customers who are eager for a more transparent and personalised digital experience.

  How is open banking different from traditional banking ?

  In traditional banking, consumers’ financial data is locked away and siloed within each bank’s systems, accessible only to the bank and the account holder. While account holders could manually aggregate and share this data, the process is cumbersome and prone to errors.

  With open banking, users can choose what data to share and with whom, allowing trusted third-party providers to access their financial information directly from the source. 

  

  How does open banking work ?

  The technology that makes open banking possible is the application programming interface (API). Think of banking APIs as digital translators for different software systems ; instead of translating languages, they translate data and code.

  The bank creates and publishes APIs that provide secure access to specific types of customer data, like credit card transaction history and account balances. The open banking API acts like a friendly librarian, ready to assist apps in accessing the information they need in a secure and organised way.

  Third-party providers, like fintech companies, use these APIs to build their applications and services. Some tech companies also act as intermediaries between fintechs and banks to simplify connections to multiple APIs simultaneously.

  For example, banks like BBVA (Spain) and Capital One (USA) offer secure API platforms. Fintechs like Plaid and TrueLayer use those banking APIs as a bridge to users’ financial data. This bridge gives other service providers like Venmo, Robinhood and Coinbase access to customer data, allowing them to offer new payment gateways and investment tools that traditional banks don’t provide.

  Is open banking safe for global financial services ?

  Yes, open banking is designed from the ground up to be safe for global financial services.

  Open banking doesn’t make customer financial data publicly available. Instead, it uses a secure, regulated framework for sharing information. This framework relies on strong security measures and regulatory oversight to protect user data and ensure responsible access by authorised third-party providers.

  In the following sections, we’ll explore the key security features and banking regulations that make this technology safe and reliable.

  Regulatory compliance in open banking

  Regulatory oversight is a cornerstone of open banking security.

  In the UK and the EU, strict regulations govern how companies access and use customer data. The revised Payment Services Directive (PSD2) in Europe mandates strong customer authentication and secure communication, promoting a high level of security for open banking services.

  To offer open banking services, companies must register with their respective regulatory bodies and comply with all applicable data protection laws.

  For example, third-party service providers in the UK must be authorised by the Financial Conduct Authority (FCA) and listed on the Financial Services Register. Depending on the service they provide, they must get an Account Information Service Provider (AISP) or a Payment Initiation Service Provider (PISP) license.

  Similar regulations and registries exist across Europe, enforced by the European National Competent Authority, like BaFin in Germany and the ACPR in France.

  In the United States, open banking providers don’t require a special federal license. However, this will soon change, as the U.S. Consumer Financial Protection Bureau (CFPB) unveiled a series of rules on 22 October 2024 to establish a regulatory framework for open banking.

  These regulations ensure that only trusted providers can participate in the open banking ecosystem. Anyone can check if a company is a trusted provider on public databases like the Regulated Providers registry on openbanking.org.uk. While being registered doesn’t guarantee fair play, it adds a layer of safety for consumers and banks.

  Key open banking security features that make it safe for global financial services

  Open banking is built on a foundation of solid security measures. Let’s explore five key features that make it safe and reliable for financial institutions and their customers.

  

  Strong Customer Authentication (SCA)

  Strong Customer Authentication (SCA) is a security principle that protects against unauthorised access to user financial data. It’s a regulated and legally required form of multi-factor authentication (MFA) within the European Economic Area.

  SCA mandates that users verify their identity using at least two of the following three factors :

  • Something they know (a password, PIN, security question, etc.)
  • Something they have (a mobile phone, a hardware token or a bank card)
  • Something they are (a fingerprint, facial recognition or voice recognition)

  This type of authentication helps reduce the risk of fraud and unauthorised transactions.

  API security

  PSD2 regulations mandate that banks provide open APIs, giving consumers the right to use any third-party service provider for their online banking services. According to McKinsey research, this has led to a surge in API adoption within the banking sector, with the largest banks allocating 14% of their IT budget to APIs. 

  To ensure API security, banks and financial service providers implement several measures, including :

  • API gateways, which act as a central point of control for all API traffic, enforcing security policies and preventing unauthorised access
  • API keys and tokens to authenticate and authorise API requests (the equivalent of a library card for apps)
  • Rate limiting to prevent denial-of-service attacks by limiting the number of requests a third-party application can make within a specific timeframe
  • Regular security audits and penetration testing to identify and address potential vulnerabilities in the API infrastructure

  Data minimisation and purpose limitation

  Data minimisation and purpose limitation are fundamental principles of data protection that contribute significantly to open banking safety.

  Data minimisation means third parties will collect and process only the data necessary to provide their service. Purpose limitation requires them to use the collected data only for its original purpose.

  For example, a budgeting app that helps users track their spending only needs access to transaction history and account balances. It doesn’t need access to the user’s full transaction details, investment portfolio or loan applications.

  Limiting the data collected from individual banks significantly reduces the risk of potential misuse or exposure in a data breach.

  Encryption

  Encryption is a security method that protects data in transit and at rest. It scrambles data into an unreadable format, making it useless to anyone without the decryption key.

  In open banking, encryption protects users’ data as it travels between the bank and the third-party provider’s systems via the API. It also protects data stored on the bank’s and the provider’s servers. Encryption ensures that even if a breach occurs, user data remains confidential.

  Explicit consent

  In open banking, before a third-party provider can access user data, it must first inform the user what data it will pull and why. The customer must then give their explicit consent to the third party collecting and processing that data.

  This transparency and control are essential for building trust and ensuring customers feel safe using third-party services.

  But beyond that, from the bank’s perspective, explicit customer consent is also vital for compliance with GDPR and other data protection regulations. It can also help limit the bank’s liability in case of a data breach.

  Explicit consent goes beyond sharing financial data. It’s also part of new data privacy regulations around tracking user behaviour online. This is where an ethical web analytics solution like Matomo can be invaluable. Matomo fully complies with some of the world’s strictest privacy regulations, like GDPR, lGPD and HIPAA. With Matomo, you get peace of mind knowing you can continue gathering valuable insights to improve your services and user experience while respecting user privacy and adhering to regulations.

  Risks of open banking for global financial services

  While open banking offers significant benefits, it’s crucial to acknowledge the associated risks. Understanding these risks allows financial institutions to implement safeguards and protect themselves and their customers.

  

  Risk of data breaches

  By its nature, open banking is like adding more doors and windows to your house. It’s convenient but also gives burglars more ways to break in.

  Open banking increases what cybersecurity professionals call the “attack surface,” or the number of potential points of vulnerability for hackers to steal financial data.

  Data breaches are a serious threat to banks and financial institutions. According to IBM’s 2024 Cost of a Data Breach Report, each breach costs companies in the US an average of $4.88 million. Therefore, banks and fintechs must prioritise strong security measures and data protection protocols to mitigate these risks.

  Risk of third-party access

  By definition, open banking involves granting third-party providers access to customer financial information. This introduces a level of risk outside the bank’s direct control.

  Financial institutions must carefully vet third-party providers, ensuring they meet stringent security standards and comply with all relevant data protection regulations.

  Risk of user account takeover

  Open banking can increase the risk of user account takeover if adequate security measures are not in place. For example, if a malicious third-party provider gains unauthorised access to a user’s bank login details, they could take control of the user’s account and make fraudulent bank transactions.

  A proactive approach to security, continuous monitoring and a commitment to evolving best practices and security protocols are crucial for navigating the open banking landscape.

  Open banking and data analytics : A balancing act for financial institutions

  The additional data exchanged through open banking unveils deeper insights into customer behaviour and preferences. This data can fuel innovation, enabling the development of personalised products and services and improved risk management strategies.

  However, using this data responsibly requires a careful balancing act.

  Too much reliance on data without proper safeguards can erode trust and invite regulatory issues. The opposite can stifle innovation and limit the technology’s potential.

  Matomo Analytics derisks web and app environments by giving full control over what data is tracked and how it is stored. The platform prioritises user data privacy and security while providing valuable data and analytics that will be familiar to anyone who has used Google Analytics.

  Open banking, data privacy and AI

  The future of open banking is entangled with emerging technologies like artificial intelligence (AI) and machine learning. These technologies significantly enhance open banking analytics, personalise services, and automate financial tasks.

  Several banks, credit unions and financial service providers are already exploring AI’s potential in open banking. For example, HSBC developed the AI-enabled FX Prompt in 2023 to improve forex trading. The bank processed 823 million client API calls, many of which were open banking.

  However, using AI in open banking raises important data privacy considerations. As the American Bar Association highlights, balancing personalisation with responsible AI use is crucial for open banking’s future. Financial institutions must ensure that AI-driven solutions are developed and implemented ethically, respecting customer privacy and data protection.

  Conclusion

  Open banking presents a significant opportunity for innovation and growth in the financial services industry. While it’s important to acknowledge the associated risks, security measures like explicit customer consent, encryption and regulatory frameworks make open banking a safe and reliable system for banks and their clients.

  Financial service providers must adopt a multifaceted approach to data privacy, implementing privacy-centred solutions across all aspects of their business, from open banking to online services and web analytics.

  By prioritising data privacy and security, financial institutions can build customer trust, unlock the full potential of open banking and thrive in today’s changing financial environment.

• How to Check Website Traffic : A Complete Guide

  26 février, par Daniel Crough — Analytics Tips, Marketing

  If you want to learn about the health of your website and the success of your digital marketing initiatives, there are few better ways than checking your website traffic.

  Checking website traffic is a great way to get a dopamine hit when things are up. And it’s a great way to troubleshoot problems when things go down. It’s also a critical data source for marketing and web teams. But to get the most out of it, you need reliable data sources, the ability to track them over time and a way to monitor the competition.

  This article explains how to check website traffic (for your site and your competitors), explores nine tools that can help and discusses why some methods are better than others.

  Why check website traffic ?

  Dopamine hits aside, monitoring website traffic is crucial to a business — even for a primarily brick-and-mortar operation. In this internet age, customers and prospects are far more likely to research a company online before buying anything.

  SOCi’s 2024 Consumer Behavior Index found that 8 in 10 US consumers use the internet to search for local businesses at least once a week. And Statista found that 55% of UK shoppers always do some online research before making a major purchase.

  And trend lines suggest these numbers are likely to continue climbing. Businesses need to know what’s happening on their sites, and that’s difficult to achieve without traffic data.

  Indeed, website data allows companies to better understand their target audiences, measure the effectiveness of marketing efforts and channels, and identify areas of the website that need work.

  Let’s dig into those ideas in a little more detail.

  

  Benchmark site performance

  Keeping regular tabs on traffic levels is a great way to track a website’s performance over time. It can help with planning for the future and identifying current problems.

  For instance, rising traffic levels may mean expanding the business’s offering or investing in more inventory. On the flip side, decreasing traffic levels may suggest it’s time to revamp marketing strategies or look into issues impacting SEO.

  Analyse user behaviour

  Checking website traffic, user behaviour, and other metrics shows marketing managers how users interact with the website. These traffic stats can help answer questions like :

  • Which pages are users visiting ?
  • Which CTAs are they clicking on ?
  • Which page elements encourage users to take the desired actions ?

  It can also identify issues contributing to high bounce rates or declines in search rankings.

  The better user behaviour is understood, the easier it is to give visitors what they want. For example, the data could reveal that users spend more time on landing pages than blogs. These valuable insights can be used to optimise blog content and improve performance.

  Improve the user experience

  Once user behaviour is well understood, it’s easier to make adjustments, update content and improve the overall user experience. This also allows companies to create more personalised customer experiences, which can lead to growth. Research shows companies that get personalisation right generate 40% more revenue from those activities than average players.

  That could take the form of sweeping changes like rearranging a website’s navigation bar based on user behaviour. It could also be personalisation that uses analytics to transform sections or entire pages based on individual user behaviour.

  Optimise digital marketing strategies

  Knowing current traffic levels and how they trend over time helps teams set benchmarks and prioritise marketing efforts.

  Monthly traffic reports can inform SEO efforts and benefit marketing attribution. For example, they could indicate when the time is right to double down on organic traffic or when the better strategy would be to invest more in PPC advertising.

  Increasing organic traffic levels from other countries can help businesses identify new marketing opportunities. If traffic levels from a neighbouring country or a growing market increase significantly, it could be time for a cross-border campaign.

  Filter unwanted traffic

  A significant chunk of every website’s traffic comes from bots and other unwanted sources. This can compromise the quality of website data and make it harder to draw useful insights. While it’s nearly impossible to get rid of this traffic completely, many analytics tools have features to filter it out of the stats.

  Why check competitors’ website traffic

  Websites are windows into businesses and their strategies. That’s why monitoring traffic and other metrics drawn from competitors is essential.

  There’s a lot to learn from the competition, both good and bad. What competitors do well can be replicated, and learning from the elements they get wrong can help you avoid making the same mistakes.

  • Strategic planning : Looking at traffic on specific pages can offer insight into potential marketing campaigns and highlight gaps in the market that may be worth attacking. Looking at their organic, paid, social and referral traffic levels can highlight opportunities for growth or pinpoint the reasons for success in a particular area.
  • Benchmarking : Looking at website traffic in isolation can lack context. Monitoring other sites’ engagement metrics, like bounce rate and average session duration, can give you an inside look at the competition, which can help you set realistic performance goals and benchmarks.
  • Product Development : Significant traffic volume on certain pages can indicate shifts in demand and market trends, which may inform the development of new products or services. For example, if a competitive dog food supplier ranks well for the term “organic dog food”, that might be something to consider when formulating new products.
  • Audience demographics : Comparing audience demographics between competitors can highlight opportunities and help a business narrow down its target audience. This guides messaging and campaign strategies to capture specific audience segments.
  • Keyword opportunities : Examining the keywords driving the most traffic to a competitor’s website can help you uncover untapped SEO potential for your website. Analysing top-performing content on competing sites can help identify content improvement strategies to pull traffic away from competitors.
  • Partnerships : Referrals are an often overlooked traffic metric. High volumes of such traffic indicate successful partnerships between competitors and third parties, which is a model worth emulating.

  7 key website traffic metrics to track

  Traffic metrics are not a case of one-size-fits-all. Those that are important today may not be tomorrow. It all depends on the priorities and goals at any one moment. That said, there are a few traffic metrics that always matter to some degree.

  • New visitors : These are users who have never visited the website before. They are a great sign that marketing efforts are working and the website is reaching more people. But it’s also important to track how they behave on the website to ensure the site caters effectively to the needs of new visitors.
  • Returning visitors : Returning visitors are coming back to the website for a reason : either they like the content they find or want to buy something. Either way, it’s excellent news. The more returning visitors, the better.
  • Bounce rate : This measures how many users leave the website without taking action. Different analytics tools measure this metric differently.
  • Session duration : This is the time users spend on the website, which can reveal whether they find the site engaging. And when considered alongside the next metric, it can be especially insightful.
  • Pages per session : This measures the average number of pages users visit on a website. The more pages they visit and the longer users spend on the website, the more engaging it is.
  • Traffic source : Traffic can come from various sources (organic, direct, social media, referral, etc.). Knowing the highest sources of referral traffic can help analyse and prioritise marketing efforts.
  • User demographics : This shows who visits a website, what device they use, what country they come from, etc. While most website traffic will come from the countries targeted by marketing, an influx of new users from other countries can open the door to new opportunities.

  9 tools to check website traffic

  There are thousands of different web analytics tools that can provide decent website traffic analysis and functionality checks. They all use a similar combination of sophisticated algorithms, data collection techniques, statistical analysis and machine learning to deliver insights into visitor behaviour and site performance.

  Most web analytics tools work by embedding bits of JavaScript or other tracking codes into a website. When users land on a website, it gathers data such as page views, session duration, and specific interactions. Many also use cookies to identify returning visitors, which lets them monitor user behaviour over time.

  Many tools offer advanced event-tracking functionality. This captures specific actions, like clicks or form submissions, and provides a more granular view of engagement. The data is then statistically analysed to spot trends and calculate key metrics like bounce rates and conversion rates.

  Some web analytics tools use machine learning to predict future user behaviour based on historical patterns. Others aggregate data to provide insights via charts comparing website performance with selected competitors’ websites.

  This section explores nine popular tools for checking website traffic and highlights their unique features and benefits.

  1. Checking website traffic with Google Analytics

  Google Analytics is usually the first place to start for anyone looking to check their website traffic. It’s free to use, incredibly popular and offers a wide range of traffic reports.

  It breaks down historical traffic data in many different ways. It can split traffic by acquisition channel (organic, social media, direct, etc.), by country, device or demographic. It also provides real-time traffic reports that offer a snapshot of users on the site right now and over the last 30 minutes.

  

  Google Analytics may be one of the most popular ways to check website traffic, but it could be better. Google Analytics 4 (GA4) is difficult to use compared to its predecessor, and it also imposes data tracking limits in accordance with privacy laws. If users refuse cookie consent, Google Analytics won’t record those visits. In other words, using Google Analytics alone doesn’t provide a complete view of the traffic.

  

  Also, GA4 relies on sampling when processing large datasets or complex queries. When the volume of data exceeds certain thresholds, it only considers a subset of the data to generate reports instead of processing every single data point.

  There are pros and cons to this approach. While it speeds up analysis and reduces the load on the system, it can also lead to inaccuracies in insights delivered. When analysing traffic patterns over a busy period, GA4 may only use a portion of the data to calculate and then extrapolate metrics.

  As a result, trends or anomalies might be overlooked or misconstrued, which could mean missed opportunities or poor decisions. That’s why it’s important to use Google Analytics alongside other web analytics tools (like Matomo) that don’t suffer from the same privacy issues. That way, it’s possible to track every single user who visits the website.

  2. Checking website traffic with Google Search Console

  Google Search Console is a free tool that analyses a website’s Google search traffic. The top-line report shows how many times the website has appeared in Google Search, how many clicks it has received, the average clickthrough rate and its average position in the search results.

  

  It’s a great way to understand what the website ranks for and how much traffic organic rankings generate. It will also show which pages are indexed in Google and whether there are any crawling errors.

  Unfortunately, Google Search Console is limited if a complete view of traffic is needed. While the search traffic can be analysed in great detail, it will not report how users who access the website behave on it.

  3. Checking website traffic with Similarweb

  Similarweb is a website analysis tool that estimates the total traffic of any site on the internet. It is one of the best traffic checker tools for estimating how much web traffic competitors receive.

  What’s great about Similarweb is that it estimates total traffic, not just traffic from search engines like many SEO tools. It even breaks down traffic by different channels for easy comparison.

  

  Similarweb provides an estimate of total visits, bounce rate, the average number of pages users view per visit and the average duration on the site. The company also has a free browser extension that continues checking website traffic estimates while the user is browsing the web.

  Similarweb is free to use, up to a point. However, to get the most out of this tool, you must upgrade to the premium plan, which starts at $125 per user per month.

  The price isn’t Similarweb’s only downside. Ultimately, it provides reasonably accurate estimates but is no match for a comprehensive traffic analytics tool.

  4. Checking website traffic with Semrush

  Semrush is a collection of marketing solutions for online businesses. Its Traffic Analytics tool checks the website traffic of up to 100 sites and compares that data side-by-side. For each site, it reveals the top pages, the regions from which most of the traffic comes, and the locations from which the most referrals come.

  Semrush also gathers insights into competitors’ audiences and their activity, especially activity that overlaps between the sites being checked. It extracts and analyses comprehensive data on organic and paid search, social media, and backlinks.

  

  However, there are notable downsides. Semrush can be pricey, with plans starting at about $119.95 per month or $1,199.40 annually. This cost may be prohibitive for smaller businesses or freelancers. Still, a free version offers most of the functionality but with a limited number of daily reports.

  5. Checking website traffic with Ahrefs

  Ahrefs‘s biggest strength is its organic traffic estimation capabilities. It estimates monthly visits from Google worldwide, Google keywords in the top 100 that a website ranks for, and traffic value via equivalence to PPC.

  

  Ahrefs bases its estimates on ranking data from a database of 12 billion keywords, which is why it is so powerful. It generates a detailed report that includes organic traffic estimates, backlink data, and top-performing keywords.

  However, the numbers produced by Ahrefs are estimates based on the available data and won’t always be 100% accurate. This is particularly true for smaller or newer websites that lack the data volumes needed for accuracy.

  It’s a great SEO marketing tool that’s free to use within certain limits, but there is some value in registering for a paid plan. There are several options, beginning with the $129 per month Lite plan and extending to the Enterprise Plan for $1,499 monthly.

  6. Checking website traffic with Serpstat

  Serpstat is an SEO solution that grew from a simple keyword research tool. It offers more comprehensive features to help businesses understand their website’s performance. It helps improve a site’s visibility through tools for rank tracking, keyword research, traffic checking, backlink analysis, and site auditing.

  

  It provides metrics like estimated monthly visits, traffic sources (organic, paid, and referral), and insights into top-performing pages. Serpstat also offers competitor analysis features that help to identify market trends and refine growth strategies. However, like Ahrefs, the numbers provided are estimates, which are only as good as the depth of data from which they are derived.

  The free version is fine for basic analysis, but signing up for one of the paid plans is advisable for commercial use. Pricing ranges from $59 per month to a monthly fee of $479 for the Agency plan. There is an option to pay annually at a discount.

  7. Checking website traffic with SEO PowerSuite

  SEO PowerSuite also goes some distance beyond just website traffic checking. As the name implies, it’s a suite of tools to improve website rankings.

  

  There are four tools in the suite :

  • Rank Tracker enables tracking a website’s search engine rankings across multiple keywords and search engines.
  • WebSite Auditor offers SEO analysis of website pages and recommends actions to boost performance.
  • SEO SpyGlass analyses a website’s backlink profile to highlight link-building possibilities that’d help improve performance.
  • LinkAssistant helps identify websites suitable for link-building and recommends viable outreach opportunities.

  SEO PowerSuite has a free plan and two premium plans with varying functionality. The monthly cost could be as much as $139.67, depending on the features needed. Annual pricing options are also available.

  8. Checking website traffic with Ubersuggest

  Ubersuggest is also an SEO-focused tool. It offers website traffic analysis, keyword rankings, backlink profiles, and competitor insights. These are packaged in reports that provide an overview of website traffic, including monthly organic traffic totals and the number of organic keywords the site ranks for. Ubersuggest also offers content suggestions.

  

  Like other tools in this category, Ubersuggest doesn’t collect comprehensive data, so its numbers are estimates. This means the accuracy can vary. However, it remains a solid choice for providing great insights and enhancing a website’s online presence.

  Like many tools in this category, there is a free version to give potential customers a taste, which is restricted by volume more than features. The paid plans range from around $29 per month for one website on the individual plan to about $99 per month for 8-15 websites on the Enterprise plan. Discounted annual pricing is also an option.

  9. Checking website traffic with MonsterInsights

  MonsterInsights is a tool worth considering for websites built on WordPress because it’s not a website checking tool in the usual sense. It’s a WordPress plugin that simplifies the task by integrating Google Analytics directly into a website.

  MonsterInsights then uses the raw data provided by GA4 to extract actionable insights based on audience preferences and activity. This makes it easier to focus on the relevant metrics for different types of websites. For example, the metrics used to measure a blog site would not be the same as those for an ecommerce site.

  But there are some downsides, too. While the basic version is free, it has limited features, and the most potent functionality requires a premium subscription. Those start at $249 per year for a single site, or the Pro plan at $499 for up to five sites. Agencies looking to work with up to 25 sites are in for $999.

  

  There’s another option

  Although many of these tools have free versions, those tend to be heavily restricted, and premium plans can be expensive. A website has to generate serious revenue to deliver a decent return on investment (ROI) to justify the costs.

  As more countries adopt GDPR-like privacy regulations, brands must ensure they’re using compliant, privacy-centric analytics tools.

  Matomo Analytics is one such tool. It’s an ethical, open-source solution that helps you collect accurate data about your website’s traffic and make more informed decisions. This enhances the customer experience and ensures GDPR compliance and user privacy.

  It’s completely free to install as an on-premise solution. Alternatively, there’s the subscription-based Matomo Cloud version.

  How to check website traffic on Matomo

  Apart from a better ROI picture, Matomo offers a more reliable assessment of your website’s traffic than Google Analytics 4. It also provides multiple ways to check organic search traffic :

  • Visits log report
  • Real-time visitor map
  • Visits in real-time report

  Let’s look at all of them one by one.

  The visits log report is a unique rundown of your site’s visitors. It offers a much more granular view than other traffic checker tools, which only show the total number of visitors for a given period.

  

  You can access the visits log report by clicking on the reporting menu and then clicking Visitor and Visits Log. From there, you’ll be able to scroll through every user session and see the following information :

  • The location of the user
  • The total number of actions they took
  • The length of time on site
  • How they arrived at your site
  • The device they used to access your site

  It may be overwhelming if your site receives thousands of visitors at a time. But it’s a great way to understand users at an individual level and appreciate the lifetime activity of specific users.

  The Real-time visitor map shows site visitors’ location for a given timeframe. If you have an international website, it’s a fantastic way to see exactly where your traffic comes from.

  

  You can access the Real-time Visitor Map by clicking Visitor in the main navigation menu and then Real-time Map. The map itself is colour-coded. Larger orange bubbles represent recent visits, and smaller dark orange and grey bubbles represent older visits. The map will refresh every five seconds, and new users appear with a flashing effect.

  If you run TV or radio adverts, Matomo’s Real-time Map provides an immediate read on the effectiveness of your campaign. If your map lights up in the minutes following your ad, you know it’s been effective. It can also help you identify the source of bot attacks, too.

  Finally, the Visits in Real-time report provides a snapshot of who is browsing your website. You can access this report under Visitors > Real-time and add it to your custom dashboards as a widget.

  Open the report, and you’ll see the real-time flow of your site’s users and counters for visits and pageviews over the last 30 minutes and 24 hours. The report refreshes every five seconds with new users added to the top of the report with a fade-in effect.

  

  The report provides a snapshot of each visitor, including :

  • Whether they are new or returning
  • Their country
  • Their browser
  • Their operating system
  • The number of actions they took
  • The time they spent on the site
  • The channel they came in from
  • Whether the visitor converted a goal

  Why do my traffic reports differ ?

  If you use more than one of the methods above to check your website traffic, you’ll quickly realise that every traffic report differs. In some cases, the reasons are obvious. Any tool that estimates your traffic without adding code to your website is just that : an estimate. Tools like many of those mentioned here will never offer the accuracy of analytics platforms like Matomo and Google Analytics.

  But what about the differences between these analytics platforms themselves ? While each platform records user behaviour differently, significant differences in website traffic reports between analytics platforms are usually due to how each platform handles user privacy.

  A platform like Google Analytics requires users to accept a cookie consent banner to track them. If they accept, great. Google collects all of the data that any other analytics platform does. It may even collect more. However, if users reject cookie consent banners, Google Analytics can’t track them. They simply won’t show up in your traffic reports.

  That doesn’t happen with all analytics platforms, however. A privacy-focused alternative like Matomo doesn’t require cookie consent banners (apart from in the United Kingdom and Germany). Therefore, it can continue to track visitors even after they have rejected a cookie consent screen from Google Analytics. This means virtually all website traffic will be tracked regardless of whether users accept a cookie consent banner. And it’s why traffic reports in Matomo are often much higher than in Google Analytics.

  

  Around half (47.32%) of adults in the European Union refuse to allow personal data tracking for advertising purposes, and 95% of people will reject additional cookies when it is easy to do so. So relying on cookies limits your results — and causes you to miss out on valuable user data.

  If you’re serious about using web analytics to improve your website and optimise your marketing campaigns, then it is essential to use another analytics platform alongside Google Analytics.

  What to do if website traffic levels drop

  Experiencing a drop in website traffic can be frustrating, but it happens to everyone at some point. Here’s how to address it :

  • Analyse traffic sources : Use analytics tools to pinpoint where the decline is coming from—organic search, referrals, or social media.
  • Check for technical issues : Look for broken links or slow loading times, which can deter visitors. Tools like Google Search Console can help identify errors.
  • Review recent changes : Consider any recent updates to the website. If something coincided with the drop, it might be worth reverting.
  • Evaluate content quality : Ensure the content is engaging and relevant. Update or improve underperforming posts.
  • Reassess the marketing strategy : The only constant in marketing is change. It’s wise to periodically revisit the balance between paid ads, social media and other vectors to evaluate their effectiveness and adjust the approach.

  It’s perfectly normal for website traffic volumes to fluctuate. Expect it and work with the available tools. Persistence will likely see the traffic volumes rebound.

  Get more accurate traffic reports with Matomo

  There are several methods to check website traffic. Some can provide estimates on your competitors’ traffic levels. Others, like Google Analytics, are free. But data doesn’t lie. Only privacy-focused analytics solutions like Matomo can provide accurate reports that account for every visitor.

  Join over one million organisations using Matomo to check their website traffic accurately and ethically.

  Try Matomo for Free

  Start your 21-day free trial — no credit card required.

• A Guide to App Analytics Tools that Drive Growth

  7 mars, par Daniel Crough — App Analytics

  Mobile apps are big business, generating £438 billion in global revenue between in-app purchases (38%) and ad revenue (60%). And with 96% of apps relying on in-app monetisation, the competition is fierce.

  To succeed, app developers and marketers need strong app analytics tools to understand their customers’ experiences and the effectiveness of their development efforts.

  This article discusses app analytics, how it works, the importance and benefits of mobile app analytics tools, key metrics to track, and explores five of the best app analytics tools on the market.

  What are app analytics tools ?

  Mobile app analytics tools are software solutions that provide insights into how users interact with mobile applications. They track user behaviour, engagement and in-app events to reveal what’s working well and what needs improvement.

  Insights gained from mobile app analytics help companies make more informed decisions about app development, marketing campaigns and monetisation strategies.

  What do app analytics tools do ?

  App analytics tools embed a piece of code, called a software development kit (SDK), into an app. These SDKs provide the essential infrastructure for the following functions :

  • Data collection : The SDK collects data within your app and records user actions and events, like screen views, button clicks, and in-app purchases.
  • Data filtering : SDKs often include mechanisms to filter data, ensuring that only relevant information is collected.
  • Data transmission : Once collected and filtered, the SDK securely transmits the data to an analytics server. The SDK provider can host this server (like Firebase or Amplitude), or you can host it on-premise.
  • Data processing and analysis : Servers capture, process and analyse large stores of data and turn it into useful information.
  • Visualisation and reporting : Dashboards, charts and graphs present processed data in a user-friendly format.

  

  Six ways mobile app analytics tools fuel marketing success and drive product growth

  Mobile app analytics tools are vital in driving product development, enhancing user experiences, and achieving business objectives.

  #1. Improving user understanding

  The better a business understands its customers, the more likely it is to succeed. For mobile apps, that means understanding how and why people use them.

  Mobile analytics tools provide detailed insights into user behaviours and preferences regarding apps. This knowledge helps marketing teams create more targeted messaging, detailed customer journey maps and improve user experiences.

  It also helps product teams understand the user experience and make improvements based on those insights.

  For example, ecommerce companies might discover that users in a particular area are more likely to buy certain products. This allows the company to tailor its offers and promotions to target the audience segments most likely to convert.

  #2 Optimising monetisation strategies for increased revenue and user retention

  In-app purchases and advertising make up 38% and 60% of mobile app revenue worldwide, respectively. App analytics tools provide insights companies need to optimise app monetisation by :

  • Analysing purchase patterns to identify popular products and understand pricing sensitivities.
  • Tracking in-app behaviour to identify opportunities for enhancing user engagement.

  App analytics can track key metrics like visit duration, user flow, and engagement patterns. These metrics provide critical information about user experiences and can help identify areas for improvement.

  How meaningful are the impacts ?

  Duolingo, the popular language learning app, reported revenue growth of 45% and an increase in daily active users (DAU) of 65% in its Q4 2023 financial report. The company attributed this success to its in-house app analytics platform.

  

  #3. Understanding user experiences

  Mobile app analytics tools track the performance of user interactions within your app, such as :

  • Screen views : Which screens users visit most frequently
  • User flow : How users navigate through your app
  • Session duration : How long users spend in your app
  • Interaction events : Which buttons, features, and functions users engage with most

  Knowing how users interact with your app can help refine your approach, optimise your efforts, and drive more conversions.

  #4. Personalising user experiences

  A recent McKinsey survey showed that 71% of users expect personalised app experiences. Product managers must stay on top of this since 76% of users get frustrated if they don’t receive the personalisation they expect.

  Personalisation on mobile platforms requires data capture and analysis. Mobile analytics platforms can provide the data to personalise the user onboarding process, deliver targeted messages and recommend relevant content or offers.

  Spotify is a prime example of personalisation done right. A recent case study by Pragmatic Institute attributed the company’s growth to over 500 million active daily users to its ability to capture, analyse and act on :

  • Search behaviour
  • Individual music preferences
  • Playlist data
  • Device usage
  • Geographical location

  The streaming service uses its mobile app analytics software to turn this data into personalised music recommendations for its users. Spotify also has an in-house analytics tool called Spotify Premium Analytics, which helps artists and creators better understand their audience.

  #5. Enhancing app performance

  App analytics tools can help identify performance issues that might be affecting user experience. By monitoring metrics like load time and app performance, developers can pinpoint areas that need improvement.

  Performance optimisation is crucial for user retention. According to Google research, 53% of mobile site visits are abandoned if pages take longer than three seconds to load. While this statistic refers to websites, similar principles apply to apps—users expect fast, responsive experiences.

  Analytics data can help developers prioritise performance improvements by showing which screens or features users interact with most frequently, allowing teams to focus their optimisation efforts where they’ll have the greatest impact.

  #6. Identifying growth opportunities

  App analytics tools can reveal untapped opportunities for growth by highlighting :

  • Features users engage with most
  • Underutilised app sections that might benefit from redesign
  • Common user paths that could be optimised
  • Moments where users tend to drop off

  This intelligence helps product teams make data-informed decisions about future development priorities, feature enhancements, and potential new offerings.

  For example, a streaming service might discover through analytics that users who create playlists have significantly higher retention rates. This insight could lead to development of enhanced playlist functionality to encourage more users to create them, ultimately boosting overall retention.

  Key app metrics to track

  Using mobile analytics tools, you can track dozens of key performance indicators (KPIs) that measure everything from customer engagement to app performance. This section focuses on the most important KPIs for app analytics, classified into three categories :

  • App performance KPIs
  • User engagement KPIs
  • Business impact KPIs

  While the exact metrics to track will vary based on your specific goals, these fundamental KPIs form the foundation of effective app analytics.

  

  App performance KPIs

  App performance metrics tell you whether an app is reliable and operating properly. They help product managers identify and address technical issues that may negatively impact user experiences.

  Some key metrics to assess performance include :

  • Screen load time : How quickly screens load within your app
  • App stability : How often your app crashes or experiences errors
  • Response time : How quickly your app responds to user interactions
  • Network performance : How efficiently your app handles data transfers

  User engagement KPIs

  Engagement KPIs provide insights into how users interact with an app. These metrics help you understand user behaviour and make UX improvements.

  Important engagement metrics include :

  • Returning visitors : A measure of how often users return to an app
  • Visit duration : How long users spend in your app per session
  • User flow : Visualisation of the paths users take through your app, offering insights into navigation patterns
  • Event tracking : Specific interactions users have with app elements
  • Screen views : Which screens are viewed most frequently

  Business impact KPIs

  Business impact KPIs connect app analytics to business outcomes, helping demonstrate the app’s value to the organisation.

  Key business impact metrics include :

  • Conversion events : Completion of desired actions within your app
  • Goal completions : Tracking when users complete specific objectives
  • In-app purchases : Monitoring revenue from within the app
  • Return on investment : Measuring the business value generated relative to development costs

  Privacy and app analytics : A delicate balance

  While app analytics tools can be a rich source of user data, they must be used responsibly. Tracking user in-app behaviour and collecting user data, especially without consent, can raise privacy concerns and erode user trust. It can also violate data privacy laws like the GDPR in Europe or the OCPA, FDBR and TDPSA in the US.

  With that in mind, it’s wise to choose user-tracking tools that prioritise user privacy while still collecting enough data for reliable analysis.

  Matomo is a privacy-focused web and app analytics solution that allows you to collect and analyse user data while respecting user privacy and following data protection rules like GDPR.

  The five best app analytics tools to prove marketing value

  In this section, we’ll review the five best app analytics tools based on their features, pricing and suitability for different use cases.

  Matomo — Best for privacy-compliant app analytics

  Matomo app analytics is a powerful, open-source platform that prioritises data privacy and compliance.

  

  It offers a suite of features for tracking user engagement and conversions across websites, mobile apps and intranets.

  Key features

  • Complete data ownership : Full control over your analytics data with no third-party access
  • User flow analysis : Track user journeys across different screens in your app
  • Custom event tracking : Monitor specific user interactions with customisable events
  • Ecommerce tracking : Measure purchases and product interactions
  • Goal conversion monitoring : Track completion of important user actions
  • Unified analytics : View web and app analytics in one platform for a complete digital picture

  Benefits

  • Eliminate compliance risks without sacrificing insights
  • Get accurate data with no sampling or data manipulation
  • Choose between self-hosting or cloud deployment
  • Deploy one analytics solution across your digital properties (web and app) for a single source of truth

  Pricing

  Plan	Price
  Cloud	Starts at £19/month
  On-Premise	Free

  Matomo is a smart choice for businesses that value data privacy and want complete control over their analytics data. It’s particularly well-suited for organisations in highly regulated industries, like banking.

  While Matomo’s app analytics features focus on core analytics capabilities, its privacy-first approach offers unique advantages. For organisations already using Matomo for web analytics, extending to mobile creates a unified analytics ecosystem with consistent privacy standards across all digital touchpoints, giving organisations a complete picture of the customer journey.

  Firebase — Best for Google services integration

  Firebase is the mobile app version of Google Analytics. It’s the most popular app analytics tool on the market, with over 99% of Android apps and 77% of iOS apps using Firebase.

  

  Firebase is popular because it works well with other Google services. It also has many features, like crash reporting, A/B testing and user segmentation.

  Pricing

  Plan	Price
  Spark	Free
  Blaze	Pay-as-you-go based on usage
  Custom	Bespoke pricing for high-volume enterprise users

  Adobe Analytics — Best for enterprise app analytics

  Adobe Analytics is an enterprise-grade analytics solution that provides valuable insights into user behaviour and app performance.

  

  It’s part of the Adobe Marketing Cloud and integrates easily with other Adobe products. Adobe Analytics is particularly well-suited for large organisations with complex analytics needs.

  Pricing

  Plan	Price
  Select	Pricing on quote
  Prime	Pricing on quote
  Ultimate	Pricing on quote

  While you must request a quote for pricing, Scandiweb puts Adobe Analytics at £2,000/mo–£2,500/mo for most companies, making it an expensive option.

  Apple App Analytics — Best for iOS app analysis

  Apple App Analytics is a free, built-in analytics tool for iOS app developers.

  

  This analytics platform provides basic insights into user engagement, app performance and marketing campaigns. It has fewer features than other tools on this list, but it’s a good place for iOS developers who want to learn how their apps work.

  Pricing

  Apple Analytics is free.

  Amplitude — Best for product analytics

  Amplitude is a product analytics platform that helps businesses understand user behaviour and build better products.

  

  It excels at tracking user journeys, identifying user segments and measuring the impact of product changes. Amplitude is a good choice for product managers and data analysts who want to make informed decisions about product development.

  Pricing

  Plan	Price
  Starter	Free
  Plus	From £49/mo
  Growth	Pricing on quote

  Choose Matomo’s app analytics to unlock growth

  App analytics tools help marketers and product development teams understand user experiences, improve app performance and enhance products. Some of the best app analytics tools available for 2025 include Matomo, Firebase and Amplitude.

  However, as you evaluate your options, consider taking a privacy-first approach to app data collection and analysis, especially if you’re in a highly regulated industry like banking or fintech. Matomo Analytics offers a powerful and ethical solution that allows you to gain valuable insights while respecting user privacy.

  Ready to take control of your app analytics ? Start your 21-day free trial.