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Fintech invests in branded content to reach Gen Z and millennials

Digital content around the securities market and new asset classes sees a boom.

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Mumbai: Fintech brands are looking at the massive influx of Gen Z and millennial retail investors as an opportunity to create awareness about their products. As awareness about the securities market in India remains comparatively low compared to markets like the US, brands are choosing educational content to create brand recall.

The Indian financial markets saw unprecedented retail participation between April 2020 and January 2021. The securities and exchange board of India (SEBI) reported that 1.4 crore new demat accounts were opened in FY 2020-21. The total number of demat accounts as of March stands at 5.5 crore which means that a fifth of the total demat accounts was opened in the last financial year.

“The capital markets have grown tremendously as well and retail participation has increased. According to Central Depository Services Ltd, (CDSL), in the first six months of the lockdown only, there was also a 20 per cent rise in demat accounts. So, definitely, there is a huge interest and appetite for learning about the financial markets especially given the slowdown in placements and the job market,” said iProspect India, chief executive officer, Rubeena Singh.

There was a surge in interest in all forms of wealth creation, as crores of people, lost their jobs. Unlike before, this time new investors had access to a vast trove of information on stocks, IPOs, mutual funds, cryptocurrencies, and other asset classes. Their decision-making is influenced not by a financial advisor but rather by influencers on YouTube.

“There has been a spike in the volume of content created as the consumer interest in these (fintech) products has increased. However, more video and less text content are being consumed and thus, created. So, brands are looking to create short-form video content in a scalable way that is also cost-efficient. They are also integrating with existing shows, partnering with original content and content creators,” remarked Singh.

A bevy of brands have made it their personal mission to educate these young investors about credit, securities, crypto and help them make smart decisions. This creates a halo effect around the brands, as well as drive their marketing agendas to appear as category leaders in their space. Brands like Upstox, CoinSwitch Kuber, CoinDCX, Cred, and PhonePe are investing in content creation on their own platforms as well as strategic associations with key influencers and media platforms to remain visible.

The banking and finance, mutual fund, insurance, and cryptocurrency players are the most prominent when it comes to media partnerships as they are not only trying to grow their brands but also the entire category.

For example, cryptocurrency platform WazirX partnered with business news channel CNBC TV18 to develop an education programme that lays emphasis on crypto emerging as a mainstream asset class. Similarly, competitor CoinSwitch Kuber partnered with NDTV for a similar content partnership.

“The cryptocurrency market is attracting almost everyone. While almost 50 per cent of the users on the platform are below 28 years of age, we have been witnessing a lot of traction from senior citizens and users above 45 years of age. Investors from smaller cities in India are also getting into crypto. Around 60 per cent of the investors come from Tier II and Tier III cities of India” observed CoinSwitch Kuber, chief business officer, Sharan Nair.

“CoinSwitch Kuber is actively collaborating with local newspapers, media and influencers to educate and inform investors about the new assets. Kuberverse, a free educational resource available on the platform, is also contributing to this goal. Also, the ease of usage of the platform adds to our advantage and attracts users in large numbers,” he added.

Brands are looking at content integrations and partnerships as this educational content will continue to garner views, long after it has been created by the next generation of investors. Singh admits that money being spent on digital is far less than traditional channels, however, that needs to change with the consumption pattern. “Brands are spending about Rs 75 lakh to Rs 1 crore to create educational content. Integration in a video or partnering with one episode of a large IP may cost around Rs 25 lakh to 50 lakh,” she noted.

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