Unlocking the power of embedded finance

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In December 2022, Argentina won the coveted World Cup trophy, following an epic final showdown against 2018 champions, France, at the Lusail Stadium in Qatar.

It was a truly monumental match, quite possibly the greatest World Cup final match of all time, triggered by the dynamic duo of Messi and Mbappe, with the Argentine, finally able to cross off a World Cup victory from his vision board. Between both teams, there were a total of 12 goals, (6 goals during the match itself, and an additional 6 goals during the penalty shootout), amounting to 12 opportunities for users to save or invest.

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But, what does the World Cup, or the world of football have in common with building wealth?

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The Future of wealth management in a digital world

The dynamics of finance and wealth management have undoubtedly evolved rapidly over the last few years, driven by advancements in technology, increasing access to the internet, smartphone penetration, and the entrance of fintech startups.

With the traditional model(s) upended, fintech businesses launched into the market with one purpose; to disrupt the existing financial framework, thereby simplifying, decentralizing, and changing how we view and interact with money. And it’s not hard to see why startups are leading this disruption.

In Harvard Professor Clayton Christensen’s book, ‘The Innovator’s Dilemma: When New Technologies Cause Great Firms to Fail’, he makes a case for disruptive technologies (a term he coined in a 1995 article, ‘Disruptive Technologies: Catching the Wave’) being a critical factor in a business’s survival and evolution, and attributes the failures of big, successful firms to a sheer unwillingness to innovate.

According to the business and managerial standards of the time, they did everything right. The problem was that the principles of prudent business management encouraged investing in sustaining technologies (which left them behind technologically), rather than investing in the sort of innovative and disruptive technologies that could put them ahead in the market. So, is it possible to 3x how often you save? Or 5x how much you invest?

Is it conceivable to embed finance with your lifestyle, or save and invest while doing the things you love in the process? Just maybe!

The way we transact digitally has changed forever! The way we pay, and spend has become more intuitive, automated, and flexible, thanks to a nifty concept known as embedded finance. It's now possible to save and invest using the same process.

Embedded finance integrates a financial product in a non-financial customer journey and is the reason users can make transactions for goods and services on the host platform without navigating to another. Think about the seamless process of paying for a ride on Uber or making a purchase on Jumia Group Foods. Now, think about the possibilities of investing by embedding finance with your lifestyle.

Enter Triggers by Cowrywise.

Triggers is a revolutionary, and automated approach to rethinking the way to save and invest. And we are leaning further into our mandate and promise to make investing as simple as sending a tweet; a goal we have pursued since our inception.

Triggers is the automated product your conventional savings plans want to be like. With this innovative product, you save or invest any time you tweet, or anytime a football club you follow scores. And we are just scratching the surface.

So, how far will we go to help a young generation of Nigerians build wealth?

Find out in this report.