While the UK market has access to some great Fintech apps, there are plenty more fish in the sea when broadening our search worldwide.
The apps below are particularly popular among users, helping them manage their financial needs quickly and easily. Although not available worldwide, many of the companies behind these apps have bold expansion plans and it won’t be long before they become commonplace on consumers’ home screens.
MoneyLion serves as a ‘one-stop shop’ for all financing needs. Services include mobile banking, cash advances and early salary payments, investment management, budgeting and rewards for spending. 7.5 million Americans use MoneyLion to improve their financial lives and it appears that the company will continue to launch services designed around consumer financial habits.
Robinhood has become a near-ubiquitous name as retail traders piled into the stock market during the pandemic. Robinhood’s values are very similar to its namesake; the company is all about democratising access to the stock market. Robinhood was one of the first companies to offer commission-free investment on stocks and cryptocurrencies, and with its debit card and educational resources for consumers to understand the market, the company is helping consumers broaden their financial horizons.
Chime provides a challenger bank account that offers a range of financial services that are low-cost, accessible, and easy to manage. Features include quick ‘Spot Me’ loans, early salary payments and an interest-free credit card. With a high rating of 4.8 on the Apple App Store, Chime has a great level of customer satisfaction and helping Americans control their finances.
Nubank is a digital bank account helping Brazilians and expanding to other countries in Latin America. All services are digital in order to make financial services simple and accessible to those they serve, as the proportion of adults with bank accounts is lower than those with smartphones. Nubank is paving the way for fintech in Latin America and this region will see massive growth in the next few years.
Mint is a PFM app that helps users plan budgets, track spending and monitor credit scores. Claiming to be the most downloaded personal finance app, Mint makes budgeting easy to help consumers control their money across all accounts.
N26 is a digital bank account that combines saving and budgeting services with users’ accounts all in one place. The company launched in Germany and now reaches 7 million users across 25 markets worldwide. With a variety of services to choose from based on users’ needs including insurance and worldwide payments, it seems N26 has all the financial needs covered.
Finch allows users to make their money work. Rather than a checking account balance just sitting there, Finch invests money while users continue to spend it as they would in any other account. It is the first account that allows instant access to invested balances both online and in stores. Finch provides a new way to invest and grow money while keeping it useable.
Honeydue is an Open Banking app designed specifically for couples. Accounts from both parties are visible through the app, and bill payments and savings goals are coordinated there too. A popular feature seems to be the chat option, that allows users to discuss payments as they occur, thereby mitigating the need for frantic/unromantic spreadsheet sessions!
Acorns is all about investing small money and watching it grow. Users can invest spare change left over from transactions, set aside an amount from each paycheck and even find new jobs through the app that allow them to earn more. With a host of celebrity and big name investors, Acorns is proud to have made micro-investing available to everyone.
Planto is a financial tracking app based in Hong Kong that allows users to set limits on spending categories and monitor their transactions throughout the month. The app contains a database of information related to housing, travel and other life goals, that saves users time to focus on their long-term goals as well as everyday spending.
Lemonade is an insurance company that works to bring sustainability and speed to the insurance market. Their Policy 2.0 is designed for the 21st century and is the world’s first open-source insurance policy, showing a growth in interest of products that allow consumers to update and simplify their insurance. Lemonade also donates unused premiums to causes chosen by users, helping to give insurance a good name.