Indians turn to social media over traditional channels for financial advice, new report shows
A new study reveals that Indians are increasingly relying on social media platforms like Instagram, Facebook, and WhatsApp to make financial decisions, shifting away from traditional banking channels.
- Aug 7, 2025,
- Updated Aug 7, 2025 5:47 PM IST
A new study commissioned by Meta and conducted by Ipsos suggests that digital platforms, particularly those owned by Meta, are playing a growing role in how Indian consumers discover, evaluate, and purchase financial products.
Titled “From Feeds to Financial Futures,” the study surveyed over 2,000 individuals aged 25 to 45 across Delhi, Mumbai, Bengaluru, and Kolkata. The findings reveal that digital content, short-form videos, and messaging apps are now central to financial decision-making, particularly among younger and more digitally engaged audiences.
According to the report, six out of eight touchpoints in the financial product purchase journey are digital, with Meta platforms accounting for half of these. Notably, 81% of consumers surveyed used Meta platforms during the discovery phase of their financial journey, 79% during evaluation, and 83% at the point of purchase. The influence was observed across categories including loans, investments, insurance, and savings.
Platforms like Instagram and Facebook are now seen as important tools for financial literacy, with 57% of respondents relying on Instagram and 53% on Facebook to inform their decisions. Reels and short-form videos featuring creators and influencers were highlighted as effective means of demystifying complex financial concepts.
WhatsApp, another Meta platform, has also emerged as a key player. Half of all respondents used the app during the evaluation phase, while 44% and 48% used it during discovery and final purchase stages respectively. On average, financial services consumers reportedly spend 56 minutes on WhatsApp.
The study further points to a shift in consumer trust dynamics. While traditional authority figures in finance still hold sway, 75% of respondents expressed trust in financial podcasts, and 67% said they rely on influencers and subject matter experts for guidance, indicating a preference for authenticity and relatability.
Commenting on the findings, Shweta Bajpai, Director for Financial Services, Media, Travel, Real Estate and Services at Meta India, said, “The process of financial planning is evolving rapidly, driven by digital platforms. From Reels and business messaging to the growing role of women in financial decision-making, the study challenges conventional assumptions about how financial products are discovered and bought.”
The report also noted the increasing financial independence of women, with nearly 80% of female respondents stating they make financial decisions independently. Women also reported higher engagement on Instagram and WhatsApp than men.
The report concludes that as financial decision-making becomes more digital-first, financial brands and marketers have new opportunities to engage audiences through content, communities, and conversational commerce.
For Unparalleled coverage of India's Businesses and Economy – Subscribe to Business Today Magazine
A new study commissioned by Meta and conducted by Ipsos suggests that digital platforms, particularly those owned by Meta, are playing a growing role in how Indian consumers discover, evaluate, and purchase financial products.
Titled “From Feeds to Financial Futures,” the study surveyed over 2,000 individuals aged 25 to 45 across Delhi, Mumbai, Bengaluru, and Kolkata. The findings reveal that digital content, short-form videos, and messaging apps are now central to financial decision-making, particularly among younger and more digitally engaged audiences.
According to the report, six out of eight touchpoints in the financial product purchase journey are digital, with Meta platforms accounting for half of these. Notably, 81% of consumers surveyed used Meta platforms during the discovery phase of their financial journey, 79% during evaluation, and 83% at the point of purchase. The influence was observed across categories including loans, investments, insurance, and savings.
Platforms like Instagram and Facebook are now seen as important tools for financial literacy, with 57% of respondents relying on Instagram and 53% on Facebook to inform their decisions. Reels and short-form videos featuring creators and influencers were highlighted as effective means of demystifying complex financial concepts.
WhatsApp, another Meta platform, has also emerged as a key player. Half of all respondents used the app during the evaluation phase, while 44% and 48% used it during discovery and final purchase stages respectively. On average, financial services consumers reportedly spend 56 minutes on WhatsApp.
The study further points to a shift in consumer trust dynamics. While traditional authority figures in finance still hold sway, 75% of respondents expressed trust in financial podcasts, and 67% said they rely on influencers and subject matter experts for guidance, indicating a preference for authenticity and relatability.
Commenting on the findings, Shweta Bajpai, Director for Financial Services, Media, Travel, Real Estate and Services at Meta India, said, “The process of financial planning is evolving rapidly, driven by digital platforms. From Reels and business messaging to the growing role of women in financial decision-making, the study challenges conventional assumptions about how financial products are discovered and bought.”
The report also noted the increasing financial independence of women, with nearly 80% of female respondents stating they make financial decisions independently. Women also reported higher engagement on Instagram and WhatsApp than men.
The report concludes that as financial decision-making becomes more digital-first, financial brands and marketers have new opportunities to engage audiences through content, communities, and conversational commerce.
For Unparalleled coverage of India's Businesses and Economy – Subscribe to Business Today Magazine