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How consumer choices drive the evolution of financial apps - Finance Middle East
consume but also influence the competitive dynamics of the industries they interact with, and the financial
sector is no exception.

In this age of empowered consumers, their preferences, behaviours, and feedback have become critical drivers
for change. Therefore, businesses must recognise that staying ahead requires adaptive approaches aligned
with modern customers’ needs. Service providers must remain agile, responsive, and forward-thinking to
exceed the standards in a customer-driven market and achieve long-term success.

Financial inclusion as a driving force

The global financial app market is projected to reach USD 2.71 billion by 2030, with the Middle East and Africa
region expected to grow at a robust CAGR of 13.6 per cent. A strong focus on financial inclusion drives this rise
of financial apps that are reshaping the global financial landscape. Creating solutions that serve all segments
of society is a meaningful endeavour that paves the way for building inclusive and an equitable financial
industry. This progress also highlights cutting-edge technologies’ crucial role in promoting access to financial
tools and providing equal opportunity for all.

In a diverse demographic setting with a large expatriate community in the UAE, achieving financial inclusion
presents both challenges and opportunities, making it even more crucial to offer equitable access to reliable
financial solutions that cater to the individual needs of users.

Financial literacy

Financial literacy also restructures the financial landscape by encouraging consumers to make informed
decisions. With a better understanding of money management and digital tools, as well as their privacy and
cybersecurity measures to keep sensitive information safe, individuals are increasingly adopting mobile money
solutions to streamline regular transactions. Trust, built on this understanding, is driving the shift toward a
digitally enabled financial ecosystem.

At the same time, financial apps are not just adapting to this change but actively fostering it. By integrating
educational tools such as budgeting guides, fraud alerts, and spending insights, these platforms are enabling
users to develop responsible financial habits. As consumers become more financially literate, their expectations
for intuitive, secure, and personalised experiences inspire ongoing innovation in app development.

User oriented technology

Another key driver shaping the financial landscape is the growing demand for user-friendly and convenient
financial solutions. Consumers today seek seamless, technology-enabled experiences, pushing financial app
developers to prioritise intuitive design that simplifies their financial tasks. Features such as swift onboarding,
easy navigation, and accessible services and processes revolutionise how individuals engage with their
finances. These user-centred designs empower individuals to track their spending and budget more effectively
and make informed financial decisions.

Regulatory support in the UAE
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