Meta Platforms emerge as key drivers in India's financial product purchases: Ipsos Report
While banks and financial advisors have historically steered investment and insurance choices, the study shows that six out of eight touchpoints in the financial purchase journey are now digital.
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A new IPSOS study commissioned by Meta has revealed a significant shift in how Indians are navigating their financial product journeys, with digital channels now dominating the path to purchase.
Titled from Feeds to Financial Futures, the survey of over 2,000 respondents aged 25-45 across Delhi, Mumbai, Bengaluru, and Kolkata found that Meta platforms account for three of the top six digital touchpoints influencing financial decisions.
While banks and financial advisors have historically steered investment and insurance choices, the study shows that six out of eight touchpoints in the financial purchase journey are now digital.
Half of these belong to Meta's ecosystem - Instagram, Facebook, and WhatsApp. More than 50% of consumers use these platforms to consumer personal finance and investment content, with 81% engaging with them during product discovery, 79% during evaluation, and 83% at the final purchase stage.
Instagram and Facebook as Financial Guides
Short-form videos and creator-led content are proving to be powerful tools for financial literacy.
According to the report, 57% of respondents rely on Instagram and 53% on Facebook to make informed financial decisions.
From Reels that break down mutual funds in 60 seconds to creators explaining credit scores, these platforms have become trusted guides in simplifying complex financial concepts.
Creators Over Celebrities
The findings indicate a preference for authenticity over star power. Seventy-five percent of respondents trust financial podcasts, while 67% turn to influencers and subject-matter experts.
Celebrity endorsements still matter, but creator-led advice - seen as relatable and grounded - is gaining stronger traction in building financial confidence.
Also Read: Misfits and machines: Ipsos’ Shaun Dix on why human insight still drives advertising success
Women Leading the Charge
Challenging traditional perceptions, nearly 80% of women surveyed said they make independent financial decision. Women respondents also reported spending more time on Instagram and WhatsApp than men, and nearly the same time on Facebook.
This demographic is increasingly using digital communities and content not just for knowledge, but also for empowerment and informed action.
WhatsApp's Role in Conversational Commerce
WhatsApp has emerged as a crucial business messaging channel in the financial services journey.
The study found that 44% of users engage with WhatsApp during the discovery stage, 50% during evaluation, and 48% at the buying stage.
On average, financial services consumers spend 56 minutes on the app, reflecting the growing appeal of personalized, AI-enhanced customer interactions that guide users from inquiry to purchase.
The Digital Shift in Financial Decision-Making
The research underlines a broader trend: financial decision-making in India is moving firmly into the digital realm.
The growing influence of creator content, peer recommendations, and interactive messaging suggests that financial brands need to meet consumers where they are—on the platforms that blend information, engagement, and community.
