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GenZ investors are increasingly turning to low-entry-point investment apps like Trove, Bamboo, and Cowrywise. These platforms provide AI-driven insights and access to African stocks, bonds, and mutual funds, potentially boosting capital markets. Commercial banks could adopt similar models through fintech partnerships, but few have acted. Widespread investment scams and limited financial literacy threaten the adoption of existing apps. Almost no regulatory guidelines specific to investing apps exist, forcing fintechs to rely on decades-old broker regulations that overlook key issues like cross-border investing. A roundtable of fintechs, regulators, and capital market stakeholders lay out the groundwork for digital investing to achieve critical mass.
Key points:
- Developing a digital investment culture: Drawing in investors and issuers
- Building scale: Enticing traditional banks to embed digital investing products
- From sandboxes to regular fintech-regulator dialogue: What should bespoke, co-created regulatory guidelines for investing apps look like?