Meta-backed study reveals digital platforms’ impact on financial planning

Meta apps

Financial literacy and product discovery are reportedly happening on Instagram Reels, WhatsApp groups, and through creators who can explain complex topics in under a minute, claims a study by Meta.

According to From Feeds to Financial Futures, a Meta-commissioned IPSOS study of over 2,000 respondents aged 25–45 in Delhi, Mumbai, Bengaluru, and Kolkata, six of eight touchpoints in the purchase journey for financial products are now digital, with Meta platforms accounting for half of them. Whether it’s loans, investments, insurance, or savings, over 80% of consumers use Meta apps not only for discovery but all the way through evaluation and purchase, claims the report

Shweta Bajpai, Director Financial Services, Media, Travel, Real Estate, & Services (India), Meta, said, “Financial planning is integral to the lives of most Indians across income groups. But this process is rapidly evolving, fueled by digital.

Short-form video is proving especially popular. The study found 57% of users rely on Instagram and 53% on Facebook for financial decision-making. Bite-sized Reels decoding mutual funds or credit scores are becoming popular as well. Axis Bank’s CMO, Anoop Manohar, noted that Reels helped cut acquisition costs by 26% during a recent campaign, underscoring their commercial impact.

Instead of only deferring to traditional authorities, 67% of consumers now turn to influencers and subject matter experts, and 75% trust financial podcasts, claims the study. The appeal lies in relatability — advice that feels like it’s coming from a peer rather than a podium, as per the study.

Nearly 80% of female respondents reported making independent financial decisions, spending more time on Instagram and WhatsApp than men.