THE RISE OF THE

Customer experience is now front and centre of all fintech strategies . And this core philosophy has never been so recognisable than in the launch of super apps .

Named as such because of their multifunction capabilities and ability to bring control to customer fingertips , this new wave of mobile technology is a trend sweeping the industry thick and fast .

Super apps perform a wide range of activities digitally , from booking tickets and paying bills to managing subscriptions , buying items , investing and purchasing insurance . Some are also linked to wearables , providing companies with additional details that result in customers receiving incentives as a result of their performances . These are often linked to a community of users who can support each other in their shared goals , be it for wellness purposes or investing .

Gamification As the metaverse gains traction , the pressure is on for fintechs that provide B2C services and rely on the loyalty of their users as part of their growth strategy to provide super apps . Leveraging customer engagement is a key element of maintaining and growing a thriving user base .

� NIUM Singaporean fintech company Nium is in talks to make an acquisition worth up to $ 400mn to drive an expansion in Europe . The news comes amid reports that APAC ’ s fintech industry is growing at a rate of 48 % CAGR .

� COPPER The teen-focused fintech app Copper has raised US $ 29mn in its recent funding drive , growing to over 800,000 users in less than a year . It has now raised a total of US $ 42.3mn since its 2019 inception .

� COMPASS The US real-estate fintech solutions start-up was launched in 2018 . A recent valuation set the company at US $ 4bn – but the results of its IPO in March this year have seen the company ’ s share prices plummet by 70 %.

� BLOCK Block shares experienced a 50 % drop in valuation during the last three months , losing more than half its value and retreating to 52-week lows early in 2022 .

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