NetWorth Chronicle: A Decade Defined by Financial Fragmentation, Ubiquitous Touchpoints, and the Great Wealth Transfer
Munmun Desai
FOLO THE NETWORTH APP
“In my two decades in the financial industry, I have never seen such a fundamental shift in how individuals hold, move, and pass on their wealth. These forces are rewriting the very fabric of financial services, and institutions must adapt quickly,” said Munmun Desai.
Three Forces Reshaping Personal Finance
1. Fragmentation – One Individual, Many Accounts
Financial inclusion has deepened rapidly, with India’s account ownership reaching 89% of adults by 2024 (up from 35% in 2011). Yet, this has also led to an explosion in the number of accounts per person—contributing to unclaimed deposits worth ₹67,003 crore as of June 2025. India’s Account Aggregator (AA) framework is now bridging this sprawl with 248 million consents and 182 million linked accounts.
2. Ubiquity – Financial Touchpoints Everywhere
UPI processed 19.5 billion transactions in July 2025, embedding money movement into everyday experiences. Embedded finance is projected to hit $7.2 trillion globally by 2030, with credit now delivered at the point of need.
3. The Great Wealth Transfer – From Boomers to Heirs and Spouses
Globally, $84.4 trillion will transfer hands by 2045, with women inheriting nearly $40 trillion. In India, the wealth shift is expected to reach $1.3–$1.5 trillion over the next 10–15 years—reshaping balance sheets and family dynamics.
Implications for Financial Institutions and Policymakers
• Build for consolidation and continuity: FOLO, India’s first NetWorth App, organizes deposits, loans, investments, pensions, and insurance into a living NetWorth ledger, with nomination and succession tools built in.
• Compete in the micro-moment: Deliver financial services where users already are—embedded in payments, subscriptions, and digital journeys.
• Serve the household, not just the account holder: Institutions that engage spouses and heirs early will retain more assets post-transition.
• Measure what matters: Go beyond monthly active users to Financial Activity Intensity—tracking the breadth, frequency, and depth of financial engagement.
Risks to Watch
As aggregation and embedded finance expand, institutions must manage consent fatigue, instant credit risks, and operational complexity with transparency and accountability.
Strategic Playbook for the 2025–2030 Window
1. Aggregate & normalize: Build the household balance sheet.
2. Layer insights: Deliver real-time, contextual financial nudges.
3. Embed responsibly: Provide credit and protection with transparent consent.
4. Design for succession: Ensure nomination hygiene, digital vaults, and family-sharing tools.
About Munmun Desai
Munmun Desai is the Co-Founder & CEO of FOLO, India’s first NetWorth App, and a former Deputy Managing Director at B&K Securities. Recognized among the Top 100 Women in Finance and 40 under 40 Investment Professionals, she has spent over 18 years in the financial sector and continues to champion financial awareness through Sakhi4Finance, where she has trained more than 8000 women.
Munmun Desai
Finuture Technologies
+ +91 93200 07006
hello@finuture.in
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