Angel One launches a new initiative, Fin One, to make finance fun for young India

Can you find the fun in finance? Angel One believes it's possible. On May 16, 2024, the brokerage firm launched a new initiative, Fin One, a digital-centric initiative that aims to improve financial awareness for billions. So, what makes it special?

Fin One is equally informative and engaging—the focus is less on the numbers and more on the fun. Primarily targeting young Indians- Gen Z and millennials, it offers content that balances financial information with engaging social media discourse while complementing Angel One’s offerings.

"Imagine if your finance class was as engaging as your favourite meme page. That’s Fin One. We’re here to spice up the way young India interacts with money—making it less about numbers and more about fun!" said Paarth Dhar, Vice President, Angel One, on how Fin One was different from other financial education platforms currently available in the market.

Why Gen Z?

Gen Z, in particular, has started their financial planning journeys earlier than previous generations. According to a study by CAMS, which was published in May 2023, 54% of first-time mutual fund investors are Gen Z. Furthermore, the percentage of young investors has skyrocketed in the last few years. Gen Z investors, who are in the early stages of their careers, are leaning towards speculative investing. This is a high-risk, high-reward approach that needs to be tempered with financial strategy.

While young Indians have the tools they need to invest, the know-how is lacking. Gen Z has access to troves of information online; however, the same abundance makes it hard for them to find credible and consistent sources of information. Additionally, youngsters from Tier II, III, and IV cities may not understand or recognise financial concepts or terminology, leading them to struggle to make smart choices.

Angel One extensively researched the needs, behaviours, and preferences of Gen Z and millennials. These studies offered company insights into the financial goals and roadblocks faced by young Indians. Thus, Fin One was born.

Engage, Entertain, Empower

The 3 E strategy—Engage, Entertain, and Empower—is at the heart of Fin One. The initiative aims to create discoverable and highly shareable content that viewers can engage with in spaces where they are most active and accessible, i.e., their smartphones. This content has been designed in the form of videos, shorts, and challenges that entertain and empower young investors to take their financial futures into their own hands, contributing to widespread economic stability and growth.

Complex financial concepts around savings and investments are simplified for the audience and made engaging through trending references, storytelling, fun graphics, and witty banter.

Currently, the content is available in Hindi and Hinglish, allowing Fin One to draw in viewers from Tier II, III, and IV cities.

The move to launch Fin One was also guided by another factor—the rise of ‘finfluencers’ (financial influencers) on social media. Angel One wanted to ensure the responsible promotion of financial literacy by finfluencers in a time of heightened scrutiny. Additionally, it also wanted to provide engaging financial content that complied with regulatory guidelines.

From tax savings to the workings of the stock market and business mantras to personal finance, Fin One offers a quirky look at the finance market on social media platforms. Young investors can watch and share videos and shorts on Instagram and YouTube. Kicking off this social media initiative were 2 campaigns running on Instagram from popular influencers Satish Ray and Aatman Desai.

The initiative has already launched a series of shorts and videos on topics like inflation, CTC vs. In-Hand Salary, The Simplest Way to Learn Finance and Investing in 2024, credit scores, and more!

Reaching a billion Indians

There is immense potential for a product like Fin One in the current market landscape. According to a report by Ernst and Young, the Indian fintech ecosystem is emerging as a powerful global force and will continue to grow as one of the largest fintech markets worldwide. The Indian fintech market boasts an adoption rate of 87%. Furthermore, factors like the booming UPI market, the immense scope of Mutual Fund penetration in India, and the number of digitally active people in India have made products like Fin One inevitable.

With the current scenario in mind, Angel One is confident in its goal to reach a billion Indians and become a prominent player in fintech. This isn't an empty promise.

According to Angel One, around 49% of the 9 million demat accounts opened in FY24 are from customers who are under the age of 25. Indian demat accounts have surpassed 15 crore, and Angel One’s client base has exceeded 2 crore.

The firm also revealed plans to set up wealth management for affluent and aspirational clients. Finally, the company also achieved its highest average daily orders of 5.8 million in Q3 FY24. Over the years, Angel One has made significant contributions to the stock broking industry, boasting a 23 million client base as of April 2024.

It’s full steam ahead for Angel One and Fin One - making savings as enjoyable as spending. Fin One is now on Instagram @finonebyangelone and YouTube @finonebyangelone.