AUGUST 20228The COVID-19 pandemic resulted in a significant increase in the finTech sector in 2020, with payments and investments becoming increasingly digitized. Numerous businesses turned this crisis into a wave of opportunity, and the traditional marketing recipe became less relevant and useful in the face of modern marketing via social media, also known as influencer marketing. People were now confined to their homes by electronic devices. This was the most significant leverage used by these firms, and it was these well-known 'FinInfluencers' who proved useful.Instagram influencers are now advising people to use secure apps for crypto investments. The followers who were financially befuddled could now rely on jargon-free lessons to help them manage their money wisely. Brands competed for market share in the content industry. Do you need groceries? There is a mobile app for that. Do you require medical attention? There is a mobile app for that. Do you need help with your online job search? There is a mobile app for that. Do you need to invest your money? There is a mobile app for that. Financial education via social media is becoming increasingly accessible and relevant. To save taxes, invest in stocks, or even trade, you no longer need a finance degree. So this is how, financial influencers assist their followers in making wise financial decisions.Filling a Void in Financial EducationToday the desire among the millennial and centennial generations to take control of their finances has skyrocketed because of two factors. The first is the economic downturn brought on by COVID-19, as well as the rise of new investment and trading apps that make it easier than ever to get started in this world. Perhaps for these reasons, discussing finance is now fashionable on social media: back then by the end of September 2021, the hashtag FinTok/TikTok had received over 500 million views; cryptocurrency had received over two billion views; and investment had received over 3.7 billion. Financial freedom appears in over 10 million Instagram posts, and investing appears in nearly 12 million. Finfluencers use a lot of hastags to market current trends in the financial industry, which make people think about where and how to invest their money. People who help spread financial information ranging from investment strategies, personal finance management, analysis of the latest cryptocurrency and rising shares, to products such as mutual funds, digital platforms for your first steps as an investor, and how to start an e-Commerce business. In some cases, it is educational content that explains technical terms in layman's terms, while in others, it is in-depth analytical explanations. Others focus on sharing their own experiences, such as stock market gains and losses or personal money-saving and money-making tips.The Worth of a Voice Such as TheirsThe topics covered by 'finfluencers' are as varied as their origins. Self-taught investors with more or less market experience coexist in this pond of 'likes' and views, but so do students taking their first steps in managing their EDITORIAL EXCLUSIVE'MEET THE FINFLUENCERS': PROMISING FORTUNES TO THE YOUNG & CREDULOUS t
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