Social media firms are planning to expand into financial services by offering an emerging sub - sector of young , tech - savvy consumers a new way to invest . Snapchat is understood to be one of the firms developing robo - advisory technology to enable users to click - and - invest directly into financial products , such as ETFs , via their apps . Other social media platforms including Instagram 's Instar and Twitter are also understood to have been approached to financial service industry players to offer similar services , however , their response is not clear . Spokespeople for Snapchat declined to comment. Social media platforms massive user bases are perceived to be a major advantage that will enable them to engage with consumers and grow at a much faster rate than start - up digital wealth managers like Facebook that have had to grow users organically . Personal budgeting and savings apps such as Mint are also understood to be working on adding robo - advisory services to their platforms .
Social media firms are planning to expand into financial services by offering an emerging sub - sector of young , tech - savvy consumers a new way to invest . Snapchat is understood to be one of the firms developing robo - advisory technology to enable users to click - and - invest directly into financial products , such as ETFs , via their apps . Other social media platforms including Instagram 's Instar and Twitter are also understood to have been approached to financial service industry players to offer similar services , however , their response is not clear . Social media platforms massive user bases are perceived to be a major advantage that will enable them to engage with consumers and grow at a much faster rate than start - up digital wealth managers like Facebook that have had to grow users organically . Personal budgeting and savings apps such as Mint are also understood to be working on adding robo - advisory services to their platforms .