Social media mention of terms like “savings” increased by 334%

The dynamics of financial security are evolving in Singapore, with a significant shift towards social media influencing financial decisions, as highlighted by a Meltwater report.

Meltwater noted a substantial increase in social media discussions related to finance, with terms such as “savings,” “saving money,” “save money,” and “high yield savings account (HYSA)” experiencing a remarkable 334% increase.

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This surge, totaling 1,290 mentions, signifies a growing engagement with financial topics in the digital space.

In the same period, mentions of Buy Now Pay Later (BNPL) payment methods witnessed a 169% jump. Notably, Atome emerged with the highest positive sentiment, while Grab PayLater generated the highest negative sentiment among users.

More from OMY: What is the BNPL Code of Conduct and how will it affect you?

The report also showed a concerning rise in the keyword “scam victims” within finance and cybersecurity conversations on social media. This term experienced a 79% increase, reaching 21,900 mentions.

“Social media serves as a vital platform, providing Singaporeans with accessible and easily digestible information, leading to a growing reliance on finance influencers,” Meltwater stated.

Top figures in the Singaporean financial influencer landscape include The Woke Salaryman, Genecia Alluora, Michelle Hon, The Simple Sum, and SG Budget Babe.

“Brands in the financial space have an incredible opportunity to engage with consumers by understanding and participating in these conversations. By actively listening to the concerns and preferences of their audience, companies can offer tailored solutions and build trust in a challenging business environment,” reported Meltwater.

More from OMY: “Finfluencers” pose risk to investors, says experts

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