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Asset management is how a variety of securities or assets owned by investors are managed.
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Our focus for this purpose of this week’s SWOT Analysis will however be on @cowrywise.
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Since inception, cowrywise has also been added to the investment portfolios of @ycombinator and @microtraction.
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1. Product Design
The design of the @cowrywise app has been described by users of the app, who matter the most when it comes to product design, with 3S’s: superb, seamless and simple.
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“Ope from Cowrywise” is a thing. Ope is many things in one. Ope is your financial adviser, accountability partner, email buddy and troll.
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Cowrywise thinks that “Employee Experience = User Experience”.
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Apple does not fall far from the tree. If Cowrywise is achieving results, then its team composition has to be doing something right.
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The Cowrywise business model is one with the aim of democratising wealth management services.
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1. Skewed Demography
Users of Cowrywise are majorly Gen Z’s and millennials. While this demography is the most tech savvy of the Nigeria population, they are not necessarily the demography with more wealth.
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The use of the Cowrywise app and its products requires a smartphone and enabling internet connection.
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1. Wider Untapped Target Market
Cowrywise’s major target population are youths who are largely under-served by conventional banks and nonbank financial institutions,...
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According to Statista, the number of smartphone users in Nigeria is currently put at 25 million to 40 million.
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1. Regulation
The existing regulatory framework in Nigeria’s capital market neither provides clarity on the role of Fintech nor state the standard registration and compliance procedure.
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Given the nature of their operations, fintech companies are prime targets for cybercriminals. Network security, data breaches or even a denial-of-service attack as well as damage and rectification costs following these incidents should be a...
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Cyber-attacks are currently on the high and major Fintech companies from inception allocate huge budgetary votes for cybersecurity in order to protect their data integrity and confidentiality.
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The wealth management digital products available in Nigeria currently are numerous and the number is fast growing.
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While cowrywise may decide to be bullish about its marketing campaign and product offerings, there is only so much that can be achieved in terms of the adoption of wealth management products in a nation described as the poverty capital of the world.#SWOTSunday
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