Today we can’t imagine our lives without technology. It has changed the way we organize our days, months and even years, especially in the area of finance. A wide range of fintech apps assists us in paying our bills, sending money, buying online and managing our expenses. They usually help save time, make us feel comfortable and secure financially.
The majority of people realize the practical importance of fintech apps and are increasingly spending consistent time using them. With growing demand the market has many good offers from developers including new fintech apps for accounting, investing, and money management.
The following 18 examples of fintech apps will definitely succeed this year. Some of them are already gaining a reputation and the others will be interesting to study.
Top fintech apps
MoneyLion – a new “unicorn” among the fintech apps
MoneyLion is an American company that provides financial assistance to its users. For the past six years, the company has been giving clients safe access to loans. At the same time, it mediates lending, saving, and management processes. Given the good feedback from clients, MoneyLion isn’t far from reaching $1 billion in value which means we will have another “unicorn” in the industry.
The Brazilian company offers an excellent variety of services. Nubank is useful for keeping track of invoices and payments as well as classifying your spending by categories and using Nubank Reward points to cover some expenses. The system updates in real-time, thus always giving an accurate view of your financial situation. Its future looks certain with recent news about the company raising almost half a million dollars of venture capital.
Matador – socializing while trading
Matador combines two of the features a contemporary user wants; investing and being in touch with friends. It borrows functions from both Twitter and Robinhood to make this combination work. Thus, you can stay connected with friends while analyzing both your and their investments.
The app provides a complex guide to what is offered in the financial world and how to invest. You’ll find useful information about companies, their stock price history, and everything you need to know before trading.
Cryptocurrency is linked with the blockchain phenomenon so many apps have subsequently been built to help the users manage their shared transactions. Coinbase may be one of the best cryptocurrency exchanges at the moment. It eases the clients’ work with a simple menu and an intuitive interface. Its functions incorporate keeping track of the transactions for every type of cryptocurrency, including Bitcoin, Litecoin, Ethereum, and Bitcoin Cash.
Revolut – the best fintech app for international transactions
Revolut not only has a simple and efficient financial website, but is a well-known app that helps you master financial managerial skills. As well as the basic transactions and balance checks, there are many other features, the system offers instant notifications, monthly reports, and the possibility to set limits for your budget.
They also promote a “no financial borders” policy, which means you can send and receive money from most countries, in over 150 currencies. The exchange rates are usually reasonable with no extra fees for international transactions.
Once you activate the service in your app, you can also work with Bitcoin, Litecoin, Ethereum, Bitcoin Cash, and XRP. All of this makes Revolut one of the best fintech apps of the decade.
Robinhood is an American app that has revolutionized the way people trade on the stock market. It’s free, with no commission fees or hidden expenses and it allows users to invest in the stocks of many US companies.
The latest statistics confirm the app’s compelling growth. It has recently been valued at more than $7.5 billion and the venture capital they raised is higher than $300 million. This is probably just the beginning.
Honeydue – share your accounts
Honeydue is the best fintech app for new families and couples who struggle to synchronize their finances. This application allows the possibility of having their individual accounts in the same place and analyzing the balances.
The app can also help if neither of the partners are good money managers. You can set reminders for recurring payments and pin comments to special expenses you need to remember.. The Millennials are Honeydue’s target audience as it is designed to cultivate patience and strengthen their financial relationships.
This app gained popularity quickly. It helps the user become truly aware of all his/her expenses. Many people have at least one forgotten subscription which draws money monthly from their accounts and this app will help avoid such situations.
Use Emma to gather all your bank accounts into a single app for better management. Basically, Emma replaces all the official apps of the banks and you don’t have to worry about the security of your personal data because the developers and the managers of the app pay special attention to data protection.
Finch is an Australian fintech startup, whose main purpose is to convince young people, Millennials, that good financial management can and should be part of their social lives using phones.
The app lets you split bills with friends by sending and requesting different sums, or tracking how much the group spends. These are simply displayed in the app, without confusing bank-specific details. Thus, you and your friends can improve the management of your common and personal money.
N26 – on the rise
N26 may well be your perfect online bank. The very efficient German fintech app has statistically overtaken Revolut worldwide. Just using a few taps on your screen will control your finances.
Its simplicity has likely helped the company raise around $300 million in venture capital and be valued at a total of almost $3 billion.
Chime has all the basic features users appreciate in a fintech app. Americans are increasingly choosing it for its transparency, without hidden fees. Moreover, you get some really useful functions, such as automatic multiple saving options or free use of their ATMs.
Always insured with Cuvva
Cuvva is among the best fintech apps for spontaneous and adventurous people. It offers hourly insurance for travel and motor. When you don’t know exactly how many days of coverage you’ll need, get a Cuvva insurance for approximately £11.40 per hour. This app works on similar principles as Zego.
The company has so far covered more than 40 million hours and they are looking forward to you being the next adventurous person they take care of.
Prism is a great app if you struggle with all your regular bills and necessary transactions. The app sends you reminders for all your bills so nothing will be forgotten. It manages all types of transactions, including credits, debts, or simple payments.
It also gathers all your accounts in the same app which saves a lot of time and energy, as you no longer have to check different websites for each bill. The current balance and history of your transactions are visible for every account and your financial situation and personal data are secure.
This is a specialized financial app whose target users are landlords and tenants. Interactions with your landlord or tenant can be difficult to manage and Tellus can ease the processes. Through this app, it’s possible to receive/pay the rent money, to save personal information about the tenant, and be aware of the state of your properties. If your apartment is available, Tellus will even help you find a tenant because it includes rental listing features, too.
Investing at minimum risk and with great hope of profit is a dream that looks more realistic since the launch of Acorns. This app promises to help you boost the amount of your savings by
turning your savings into investments safely with minimum risk so your saved money starts working for you. Depending on the options you choose and the portfolio you provide, you’ll achieve an attractively modified balance.
Penfold – money for pension
The state saves money for the retirement period of its officially employed citizens but freelancers often struggle to achieve a pension fund due to their unstable income.
The fintech industry is offering a helping hand called Penfold which ensures that almost 4 million freelancers from the UK have their retirement period secured. It adapts to their flexible income without interfering with people’s real needs.
Planto is so efficient that it will make you forget all about your financial responsibilities. After setting the app, it automatically performs monthly payments, limits your budget, and tracks your progress. It helps you create and achieve your perfect financial profile so managing your money is easier and more efficient.
AI is the Lemonade app’s main feature. It helps you get insurance in record time. It takes less than a minute to complete the required fields, send the information, and receive the active insurance for your home.
The Future of Fintech Marketing: Seizing Opportunities Ahead
As the fintech landscape continues to evolve, the role of fintech marketing will remain crucial. With trends like blockchain integration, embedded finance, and increased use of AI and machine learning, there’s a vast landscape of possibilities for both fintech apps and their marketing strategies.
Moreover, the expansion of the gig economy and remote work offers new avenues for fintech app developers to address the unique financial needs of freelancers and remote workers. This includes catering to their payment processing, budgeting, and investment needs, further widening the scope of fintech marketing.
FAQs about fintech apps
1. What is fintech, and how does it differ from traditional finance?
The term “fintech,” short for financial technology, describes how financial services are automated and improved through technology.
Online banking, processing payments, investing, and insurance are just a few of the many operations that fall under this umbrella. In contrast to traditional finance, fintech is more accessible, frequently focuses on serving underrepresented populations, and typically operates online.
Moreover, fintech businesses are typically more flexible and nimble than conventional financial institutions.
2. What are some popular fintech apps available in the market?
The market is flooded with well-known financial applications including PayPal, Venmo, Square, Robinhood, Acorns, and Mint.
Peer-to-peer payments, tools for creating budgets, investing platforms, and other services are just a few of the many things that these apps provide. Due to their accessibility, low costs, and ease of use, many of these apps have gained popularity.
3. How do fintech apps ensure security and protect users’ sensitive information?
Sensitive user data is protected by a number of security mechanisms in fintech apps, including encryption, multi-factor authentication, and biometric authentication.
Additionally, they usually adhere to security protocols that are accepted as standards in the industry, including the Payment Card Industry Data Security Standard (PCI DSS).
Several fintech applications also include built-in fraud detection tools and provide client protection assurances in the event of unlawful transactions.
4. Can I link multiple bank accounts to a single fintech app?
Users can connect several bank accounts to a single fintech app using many of these apps. Those who want to manage their finances in one location and have accounts with several financial institutions may find this to be helpful. Before tying any accounts together, it’s crucial to make sure the app is reliable and safe.
5. What types of financial services do fintech apps offer, and how do they generate revenue?
Fintech apps provide a wide range of financial services, such as insurance, investing platforms, budgeting tools, and payment processing. Companies make money in a number of ways, including transaction fees, subscription fees, commissions, and loan interest.
6. Do fintech apps charge any fees for their services, and are they more affordable than traditional financial institutions?
Fintech applications frequently provide their services for no cost or at a lesser cost than conventional financial institutions. It’s crucial to read the small print and comprehend any costs related to using the app, such transaction costs or account maintenance costs.
7. How do fintech apps use AI and machine learning to enhance their services?
In order to enhance their services in a number of ways, including fraud detection, risk assessment, and personalisation, fintech apps integrate AI and machine learning.
Fintech apps may provide more specialized and individualized services to their consumers by using AI algorithms to analyze massive volumes of data, find trends, and make predictions.
8. Can I invest in stocks and cryptocurrencies through a fintech app?
Several fintech applications provide users with investment platforms that let them buy stocks, bonds, ETFs, and cryptocurrencies. These platforms often include inexpensive fees, simple navigation, and educational materials to aid consumers in making educated investing decisions.
9. How do fintech apps help small businesses with their financial management?
Small businesses may manage their money with the use of fintech apps, which provide a range of services like payroll administration, payment processing, and invoicing.
Additionally, they can offer data and insights into how well a business is performing, assisting small business owners in making better financial decisions.
10. What are some upcoming trends in the fintech industry, and how will they impact fintech apps?
The acceptance of blockchain technology, the emergence of embedded finance, and the greater usage of AI and machine learning are upcoming trends in the fintech sector.
The fintech sector will certainly experience further innovations and disruptions as a result of these trends, with a focus on offering customers even more streamlined and tailored financial services.
Also, the expansion of the gig economy and remote employment will probably result in a rise in demand for fintech consulting services catered to this group of workers, such as mobile payment apps and digital banking. Overall, the fintech sector is well-positioned for future expansion and innovation.
Fintech software development plays a crucial role in shaping the landscape of fintech apps. With the increasing demand for innovative financial solutions, companies specializing in fintech software development are at the forefront of creating cutting-edge applications.
For businesses looking to stay competitive, opting for specialized fintech development services can offer tailored solutions that meet unique financial needs.
These firms leverage their expertise in software engineering, data analysis, and security to develop robust and user-friendly fintech apps.
Ending thoughts on top fintech apps
It’s obvious that the Millennials are the main beneficiaries of this fintech technology.
Everyone uses a cell phone for a significant amount of time, so the popularity of fintech apps is not surprising. The complexity of these apps and the number of features they provide are very impressive by helping to make our financial life easier.
There’s no doubt room for even better and more innovative projects. So, if you want to enter this promising world of fintech by founding a startup or building an app, we can be of help. At TMS we conduct regular studies of the fintech market and we know how the best apps succeed despite the competition. If you want to succeed in this market, we are more than happy to help you reach your goals. Check our website for more details about our services and products.
If you liked this article about fintech apps, you should check out this article about financial software development.