March 18, 2020
In a country like India, where the investments in gold and land are still considered the best options, the wealth & personal finance management ecosystem is gradually evolving. This evolution is partly because of the availability of more diverse investment options in the equity market and also due to the changing investment habits of the Gen Y and Gen Z cohort of consumers. With rapid innovation, people are now able to invest their savings online through apps driven by artificial intelligence and advanced algorithms. As these younger consumers gravitate towards the best user experience, best value for money, and intuitive financial tools that help them reach their goals, several FinTech players are seizing the opportunity.
Moreover, favorable regulations are bringing new traders to the market and new players to the table, with FinTech startups giving tough competition to the traditional brokers and banks. Several FinTech startups around the globe (such as Stash, Acorns, and Clink) and Indian FinTech companies (such as Cube Wealth, Zerodha’s Coin, Kuvera, Sqrrl, Groww, and Kristal.AI) are eyeing to take a pie of this investment market with their innovative business models and technology.
For instance, Cube Wealth, found in 2018, is a Mumbai-based FinTech for financial planning and wealth management. Unlike its competitors Paytm Money and ETMONEY, which focus ...