In the wake of the pandemic, Auckland-based fintech Invsta has released the top financial services and fintech trends likely to stick over the next couple of years. Building on the success of their last report back in 2020, their latest whitepaper outlines how these trends can position businesses to unlock new areas of growth within their businesses.
“After months of pouring over the latest research, and leaning into what industry strategists had to say, we hope that this piece of research will become an invaluable tool as you embark on your strategy sessions for the coming year,” explains Rachel Strevens, Invsta founder and CEO.
Since the onset of the pandemic, financial service providers have been forced to relook at their business models and processes. While some providers have made some progressive steps, Strevens believes that more can be done to improve online experiences for investors.
“The investment space is becoming more competitive every day, with new digital platforms constantly taking away market share from incumbents. A new standard in digital communication and interaction has been set by the likes of Robinhood and Sharesies, and incumbents need to start prioritising their online experiences to attract and retain modern investors.”
And the statistics show that incumbents are losing the battle, with data indicating that 63% of investors feel neutral or dissatisfied with the digital interface of their providers.
The whitepaper also highlights the next generation of investors that providers should put on their radar. Generation Investor is a relatively new segment to emerge as a result of the pandemic. Interestingly, they are more bullish than the pre-2020 generation and are planning to invest more in the future.
From FOMO and social investing to leaner operating models, the whitepaper provides strategies and tactics for financial service providers to explore how to leverage these trends and drive higher levels of growth. Tapping into these trends and embracing fintech more holistically throughout the business has the potential to open up access to new markets while optimising processes to drive a leaner, more agile business model.
To access the report, visit: https://www.invsta.com/financial-services-whitepaper-download-2022