Ville Sointu Welltech focused on overall financial wellbeing is the next frontier of financial services . However , on a global scale , the year 2024 will maintain a strong emphasis on the convergence of financial inclusion and financial wellbeing . Retail investors in particular stand to reap the key benefits of the boom . The rise of robo-advisory services means customers previously unable to access human advisory services will be empowered to invest and grow their wealth . Power is being handed to the people , and participation is rising as a result .

Digital wallets and payment apps are increasingly offering a wider suite of investment services , which is attracting retail investors in emerging markets who can invest small amounts , purchase digital bonds , buy digital gold , trade shares and more .

A recent example of this in action is at MTN Uganda . The company ’ s late- 2022 m-IPO initiative in partnership with the Uganda Securities Exchange ( USE ) helped position Uganda at the forefront of digitising capital markets for Africa .

As the country ’ s first paper-free IPO platform aimed at retail investors , more than 21,000 investors were able to participate at the outset . More than 80,000 customers – a steep increase from the 20,000 pre-IPO account base – have since opened Securities Central Depository ( SCD ) accounts using the MTN USSD and MoMo App platform , enabling them to apply for shares seamlessly , check their balances for all listed companies , monitor transactions and know their brokers .

In short , in 2024 , we ’ ll see this momentum continue and more people than ever will have the tools to enhance their own financial wellbeing along with that of their communities .

The digital divide will continue to narrow , and the aspiration for a globally equitable financial landscape will steadily transition into a tangible reality .

fintechmagazine . com 79