The emergence of the ravaging Covid-19 pandemic has accelerated the growth of digital offerings as the financial technology apps indicate 61percent year-on-year usage.
According to deVere Group, one of the world’s largest independent financial advisory and fintech organisations, financial technology apps show further evidence that the way we manage our finances further shifted in light of the coronavirus pandemic.
“Pre-coronavirus, we were already in an exciting new era driven by the lightning pace of the digitalisation of our everyday lives. But like so many areas of our lives, the pandemic has accelerated this trend,” said James Green, deVere Group’s Divisional Manager of Europe.
He added that the jump in usage of fintech apps from existing clients, and a sharp increase in inquiries from potential ones, underscores that people are becoming more tech-savvy than ever.
“Like never before, people are embracing the convenience of immediate, low-cost access to, use and management of their money,” Green explained further.
The trend, he believes will further increase with far-reaching shifts in client expectations as the world moves towards an ever-more digitalised and globalised future – which is increasingly influenced by those who’ve grown up with ‘on-the go’ tech – this phenomenon can only be expected to gain momentum.