Top 5 App-Based Fintech Startups for Young Investors
In his book “Only the paranoid surviveAndrew S. Grove, legend of the semiconductor industry and founder of Intel, offers a detailed insight into the Strategic Inflection Point (SIP). Describing it as a critical transformation in an industry, Andrew makes the case for how a SIP affects a business and forces it to change. same in terms of process, systems, products and, sometimes, identity. The field of finance, while remaining the same in its motive for saving and finding better ways to invest money, has come a long way from banks to mutual funds, stocks, and bonds. No longer a rocket science, finance has been taken to new dimensions of investment and expense management, courtesy of evolution due to strategic inflection point theory. The next chapter of finance has already begun through mobile applications that allow easy investments. With an overview of these fintech investment apps, we explore five of the world’s most promising investment-driven fintech startups, which are exclusively mobile-based.
1. inuit mint: Mint is a personal banking and investment advisory app, designed in an easy-to-access interface. It tracks your income, savings, investments and, based on these, creates a budget and recommends personalized expenses. With Mint, you don’t need to worry about checking your statements or verifying bills that are due. Plus, you can find ways to keep your credit score high and consistent. This one-touch financial manager automates your expenses to your income so you reach your financial goals in a reasonable amount of time.
two. Booking: By bringing the investment threshold down to as little as $5, Stash creates a different niche for potential investors. Stash is a beginner level investment platform that promotes about 30 different investment opportunities that one can think of based on their preferences and goals. These investment options are selected through extensive technical and market performance reports. Plus, when you start investing through Stash, it gives you personalized recommendations and investment opportunities for better returns. How does Stash manage to start investing with something as low as $5? Well, these small amounts are used to underwrite those investments in fractions.
3. Learn and Invest for Rubicoin: “Learning by Doing”, when you browse the Rubicoin website, you find their motivation at a glance. They have released two apps: Learn and Invest, the ultimate goal of which is very clear from their very name. Through Learn, you get access to some valuable investment micro-lessons, published in plain language that everyone can easily understand. Its goal is to create understanding of investment needs and build confidence in you as you invest. Updated and enriched all the time, Learn provides access to video, text, and even audio lessons on investing. In addition, the blog shared by CFO Invest, on the other hand, is a stock investment interface application that helps create and manage an investment portfolio. Partnered with some of the best online brokers and currently available only to iOS users, Learn and Invest by Rubicoin is expected to hit the Play Store in late 2016.
Four. acorns: By far, one of the most innovative ideas to automate your savings and take care of your change is Bellota. Acorn is a micro-investing start-up. This micro investment idea is not related to startups, but to the small amount of money that is being invested. To use Acorn, you must first connect all of your accounts and cards to this app. Then, every time you make a purchase through those accounts, and the spare change you get is invested in those expenses.
5. FineZen: FinoZen believes in the philosophy of investing in short-term, liquid mutual funds rather than keeping your money in a lower-interest savings account. Finozen, an Indian startup, has attracted many young interns and employees who are looking for the ease of availing funds without sacrificing the benefit of higher returns on their investments. This Android fintech app can be used for as little as $2 and you get around 7-8%. FinoZen makes it easy to update investment returns daily and easy transactions from your savings account to your FinoZen account and vice versa. It is interesting how the investment and financial advice scenario has evolved to adapt advice to each pocket and purpose.
The five mobile apps mentioned above have ushered in the era of digital investments, adding mobility, convenience, and always-on customer support at next to nothing. Yes, it would be worth seeing how promising they are for their clients and whether they could eventually replicate the human comfort factor in the world of finance.