Grab's Financial Arm Created New Personal Finance Features
Daniel Johnson — August 7, 2020 — Tech
References: grab & techcrunch
Grab recently announced that its financial arm is launching new products for consumers, including loans, health insurance, micro-investments, as well as a pay-later program. The company was initially launched in 2012, where it was initially operating as a ride-hailing company. Since it launched it began collaborating ZhongAn in 2019 to create a digital insurance company.
The new micro-investment platform is named AutoInvest, and it gives users the ability to invest small amounts of capital using the Grab app.
Reuben Lai, a senior managing director for Grab Fincianal Group, spoke about the new products, “research has shown that there is a real demand for the products we are launching today. What we really want to do is focus on consumers and make sure we deliver products they use. We think profitability and sustainability will follow.”
Image Credit: Shutterstock
The new micro-investment platform is named AutoInvest, and it gives users the ability to invest small amounts of capital using the Grab app.
Reuben Lai, a senior managing director for Grab Fincianal Group, spoke about the new products, “research has shown that there is a real demand for the products we are launching today. What we really want to do is focus on consumers and make sure we deliver products they use. We think profitability and sustainability will follow.”
Image Credit: Shutterstock
Trend Themes
1. Micro-investment Platforms - The trend of micro-investment platforms is disrupting traditional investment banking by making it easy for small-scale investors to access the financial market.
2. Digital Personal Finance - Digital personal finance is a growing trend that leverages technology to offer convenient and accessible financial services to consumers, driving the need for disruptive innovators to create new products and services to meet a growing demand.
3. Pay-later Programs - Pay-later programs are increasingly popular among consumers, who are seeking greater flexibility and convenience in managing their finances. Innovative startups can leverage this trend to offer new payment solutions that better meet the needs of modern consumers.
Industry Implications
1. Fintech - Fintech startups have the opportunity to capitalize on the trend of micro-investment platforms by leveraging technology to create innovative investment and personal finance solutions that meet the needs of modern consumers.
2. Insurance - Insurers have an opportunity to partner with fintech companies to create digital insurance platforms that offer greater convenience and accessibility to consumers.
3. Ride-hailing - Ride-hailing companies have the opportunity to expand their offerings by creating financial services and other products that align with their core business model, providing greater convenience and value to their users.
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