Social Media

FinTrek strives to be the most relevant and entertaining mobile-based finance community that connects finance enthusiasts around the world and bring transparency to the industry. We also provide functionalities that keep you on top of your finances.

The Idea

For many of us, investment management is inconvenient but necessary. We invest in stocks, ETFs, other financial instruments hoping to gain decent returns to meet future needs. However, with the lack of effective communication platform in the finance world and with the growing number of choices available in the market about how and with whom they can invest their money, people are exposed to increased risk, especially coupled with little financial literacy around the choices.

We aim to solve this issue by building a social network that connects investors and help them communicate with each other in a effective and transparent way. We also hope to use algorithms to understand the financial needs and preference of each individual user and aid them with information and functionalities that are most relevant to them.

The Market

According to an ASX research 2017, 37% of Australian adults (6.9 million people) invest on a securities exchange; the number of millennials who invest almost doubled since 2012.

The young adult

The average investor is a 28-year-old city dweller who has a stable job but is looking for ways to increase her personal asset. A tech-savvy millennial, she spends a lot of time daily on social media and often rely on what she read on the internet and/or hear from friends to make decisions. 

She wants to do the same with investing, particularly because she doesn’t really trust and is willing to pay to see a financial advisor. However, she doesn’t have the time or inclination to do research on thousands of products, nor is she willing to pay to see financial advisors because of her innate distrust in them. So she goes onto a financial forum first to see what other people says, but there were just so many ads and nothing useful that she can find.

What she can gain:

Customised information that is most relevant to her and most relevant in today’s market

Choose who to and who not to see/talk to.

Sense of community with like-minded people.

The insider

John is a broker and has been struggling with reaching out to more clients - even after implementing new media marketing strategy. Worse, even after reached out to a client, he still can’t be sure if the client is willing to vest actual financial interest, plus it takes ages to gain trust.

What he can gain:

Directly communicate with investors with actual interest.

By establishing a public profile and accepting public scrutiny, he builds up his creditworthiness.

The Competition

Online community dedicated to finance (e.g. hotcopper, WSO)

- Too many advertisements. Lack of customised content. Content sometimes outdated and hard to verify source / establish credit.

- Most hosted on PC, while many favours viewing content on mobile now.

- Many runs on "forum + market stat" model, and is not not fully engaging with its users.

Online discussion website (e.g. finance section in whirlpool, reddit)

- Generic topic sometimes means it's hard to generate in-depth content, to target audience and to filter information

The Vision

We aim to build the most relevant and entertaining mobile-based finance community that connects people with an interest in finance, regardless of their background, geographical location, and experience.

Initially we want to target the Australian market - 6.9 million Australian adults have their money invested on a securities exchange and there is a growing trend that people seek financial advice from the internet. We believe that our solution best service those who would like investment ideas/advice from a more diverse array of perspectives, regardless of whether they are currently investing or not, and we hope to capture 5% of this population within the first 3 year. 

We have a special focus on growing the millennials investors – we want to make an app that is cool and relevant, and that makes finance cool and relevant. We will reach out to this group through university societies, networking events, advertisement. 

Our solution is scalable - Future down the track, we look to expand globally and to enable capital management functionality through the platform.

Mentor Pitch

“I am not confident to invest in finance market” – This is among the top 3 reasons why Australians don’t invest today. Personal finance management is necessary but is inconvenient due to the growing complexity of finance industry and lack of finance literacy and rapport among investors.

FinTrek provides a solution to this problem faced by the 6.9 million Australian investors, and even more investors around the world. We want to build the most relevant and entertaining mobile-based social network for the finance community that connects investors regardless of their background. The app will provide individualised feeds that reflects user’s interest and what’s relevant in today’s market; the app will help user interact with the community and make better investment choices through gamified functionalities; the app will help the finance professionals alike by providing them targeted marketing opportunities and helping them establish credibility.

Our team is multi-disciplinary, with skill sets expanding finance, computer science, and business administration. What’s more important, is that we are determined to build a solution that could potentially benefit people around the world with their finances. If you share our vision, have passion/experience in fintech, and can guide us with market and growth insights along the way, please be our mentor.

Thank you!