Building PFMs for the Next Generation

Article Summary

  • Gen Z’s bring new meaning to the term “digital natives”
  • Strategies for Product Teams need to take into account the dynamic nature of consumer trends
  • Hyper-engagement is no longer a side feature- it should take center stage
  • Changes in the digital ecosystem (both global and GCC specific) will change user expectations and lifestyles
  • Spire can enhance value and improve financial well-being in a changing digital ecosystem
  • An incredibly tech-savvy generation
  • Access to a vast breadth of information
  • They love novelty and new experiences
  • Innovative when it comes to generating earnings

Product and Design

  • Emma, a major PFM player from the UK, announced the transition to the “super-app” model, which has gained a lot of traction and success in certain markets like South Asia.
  • Twine, like many players, have also added investment tracking and crypto-currency features.
  • Apple Watch, Samsung Gear, also known as “wearable tech,” is already in full flow. With trials underway for technologies such as advanced biometric payments, product teams should actively monitor and be prepared for changes at any given point in time.

Social Ecosystem

  • Meniga launched a peer comparison solution to enable users to track and compare their progress on financial goals with others.
  • Spirr.io gives an open invitation to users to send in their requests for what “rewards” they want, and the most popular ones are then incorporated.
  • YouTuber reviews are also increasingly becoming the preferred go-to source. YouTube channel Logical Finance amassed a cumulative 85,000 views on PFM apps alone, while one of the most popular tech reviewers, Marques Brownlee or MKBHD, has a cumulative following of 14.6 million subscribers garnering an average of 2.5 million views per video.

Context,Context,Context

Conclusion

--

--

--

Aion is a financial technology company specializing in digital banking platforms. It is headquartered in Bahrain with business presence across the GCC.

Love podcasts or audiobooks? Learn on the go with our new app.

Recommended from Medium

Eligibility Verification for Healthcare: Process, Priority, and Optimization

Eligibility Verification for Healthcare: Process, Priority, and Optimization

Excellence in Demand: The Importance of Nonwoven Melt-Blown Material in N95 Mask Manufacturing

chart of increasing face mask production in 2020–21 due to coronavirus

Five Ways CEOs Are Rethinking Accounts Receivable

Insilico Medicine is Hiring Key Business Development Executives

Digital Transformation in Finance

Retailers Offer Delayed Shipping Options to Avoid Peak Charges

THE QUESTION IS NOT “IF”, BUT “WHEN” AND “AT WHAT COST” WE WILL HAVE THE SELF-PILOTING AIRPLANES…

How Corporate Social Enterprises May Help Amazon Ignore its Mistreatment of Frontline Workers

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
Aion Digital

Aion Digital

Aion is a financial technology company specializing in digital banking platforms. It is headquartered in Bahrain with business presence across the GCC.

More from Medium

Customer Spotlight — Hiring With Checkly

The Reasons We are Building a Customer Support Infrastructure for Africa

Business Case Study | Amul’s Strategy during the COVID Pandemic | Dr.

Embedded finance will help fill the life insurance coverage gap