If we take a look at the evolution of FinTech, financial inclusion was a major theme in the early part of the last decade. FinTech was meant to help serve the unserved/underserved, and examples like M-Pesa showcased the potential of how FinTech can influence the lives of millions of people. As FinTech developed and with much wider adoption across segments, we have seen the focus shift to the mainstream with solutions ranging from payments to wealth management.
With the advent of Open Banking and API-driven integration, one has also seen the proliferation of personal finance management FinTechs & solutions mushroom globally. Combined with wealth management solutions, the target segment is usually the upper-middle class to the creamy layer of the market. |
