Gen Z Finance Is Not As Fickle As You Think
Plus, Africa fintech continues to expand.
Number of the Week: 5% (explanation below)
Gen Z Finance Is Not As Fickle As You Think
One largely unexpected side effect of the fintech revolution is that the money habits of Generation Z—more or less fintech-native—are studied more minutely, and with deeper data, than those of any generation that ever lived on Earth. So voracious is the appetite for analysis of Gen Z spending and investing that FIN is not sure if it should always be taken at face value.
Consider: this week a press release and story pitch landed in our inbox from Apex, which calls itself “the fintech for fintechs,” kind of a one-stop-shop custody and clearing platform that also powers crypto transactions (the company recently obtained a relatively rare “BitLicense,” allowing it to conduct crypto business in New York State). In 2021, Apex made Fast Company’s annual list of the Most Innovative Companies.
The big headline Apex is pushing: In the first quarter of 2022, Gen Z investors moved away from the growth and “meme” stocks that were last year’s rage, and toward “value” stocks.