Cutthroat competition best defines the scenario in the realm of fintech. Ever since technology made its way into the finance sector, things have never been the same.
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From offering us multiple modes of payment to making loans and credit cards easier and simpler, fintech application development has indeed made it convenient for laymen like us to enter the world of finance.
Read More: FinTech Trends to Watch in 2020-2021
Over the last few years, there has been a dynamic growth in fintech app development. Over 64% of the consumers across the world have at least used one fintech app in 2019. Not just that, the market is anticipated to grow at a 6% CAGR to value at $26tn in 2022. What’s equally interesting is that there are over 48 unicorns in fintech with a combined worth of around $187bn.
Read More: Key FinTech Statistics 2020: Market Share and Data Analysis
So, if you’re someone who intends to make the most of the situation by launching your own fintech app in the market, we have got you covered. This post contains the ten best fintech apps you should know about so you understand what they do, how they operate and carve a space for your fintech company accordingly.
So, what are we waiting for?
Let’s get started.
10 Best Fintech Apps You Simply Can’t Overlook
Type of Fintech: Mobile Banking
Country: United States
MoneyLion – A Mobile Banking App
This is the go-to app for consumers who look to seek financial advice and loans. In the market for over six years, this top fintech app is a blend of savings, lending and wealth management aspects. This is an ideal financial companion consumers can resort to for any finance related assistance. It operates on a subscription-based model that also includes the setting up of the bank account of users. Besides this, it offers banking services.
Type of Fintech: Investment
Country: United States
Robinhood – An Investment App
With a pop-culture name, this is a stock trading app that is available for free. With this app, users can trade stocks, indices and even cryptocurrencies at zero commission charges. It has an amazing integration with over 3,500 banks in the US to provide optimum trading experiences to consumers. Thanks to its services and features, this venture is now valued at around $8bn today.
Type of Fintech: Mobile Banking
Country: United States
Chime – A Mobile Banking App
It is one of the fastest growing mobile-only banks that also allows consumers to better manage their expenses and savings at one place. It levies zero transaction charges and offers free ATMs across the country. One of the best features of the app is that it automatically helps you save by deducting 10% of the amount credited to your account and transferring it to your savings account. Mom, is that you?
Type of Fintech: Online Banking
Country: Brazil
Nubank – An Online Banking App
Based out of Brazil, it offers information to consumers about saving balances, rewards and credit cards in real time. With over 12mn customers, Nubanks ranks sixth in its home market. It emphasizes the importance of user experience by having a very simple user interface with minimal learning curve to accommodate users from all walks of life. Also, the company’s blog publishes several educational posts on diverse fintech topics.
Type of Fintech: Personal Finance
Country: United States
Mint – A Personal Finance App
Mint is regarded as one of the most precise apps to collect consumer information such as accounts, credit scores, transactions and more. The app offers financial advice, reminders to pay bills and settlements and detects patterns in spending data to come up with the most valuable insights on saving on expenses. It has one of the tightest encryptions in the fintech realm.
Type of Fintech: Online Banking
Country: United Kingdom
Revolut – An Online Banking App
Revolut is yet another top fintech app that offers a blend of banking services and finance management services to its consumers. As far as banking services are concerned, it offers currency exchange, P2P payment systems, cryptocurrency exchange, debit cards and more. When it comes to finance management services, it offers budgeting, real-time currency exchange facilities and more.
From the app’s mobile banking features, you could send money in over 25 currencies and withdraw in over 120 currencies across the world. With respect to cryptocurrencies, it supports Ethereum, Bitcoin, Bitcoin cash, Litecoin and more.
And did we also mention that it offers you overseas travel insurance and a feature that makes splitting bills with your family simpler?
Type of Fintech: Cryptocurrency Wallet
Country: United States
Coinbase – A Cryptocurrency Wallet App
If you’ve been following us, you would have noticed that we have always shed light on blockchain and its potential in fintech software development. Well, Coinbase is one of those companies that stands as a testimony to this. Based on blockchain technology, it is one of the largest cryptocurrency exchange apps in the USA.
With this app, you could look at the value of cryptocurrencies in real time and invest and trade in any of them by scheduling their purchases. It has over 25 million users in over 32 countries. One of the best aspects of this app is that close to 98% of the cryptocurrency is secured and stored offline. The rest is secured by state-of-the-art online security infrastructure and protocols.
Type of Fintech: Finance Management
Country: Berlin
N26 – A Finance Management App
This app is based out of Berlin, Germany and allows you to take instant charge of your finances after installation. It offers you transparent money management tools so you could save better and spend wiser. Besides, it also offers you up to 2 free withdrawals in ATMs. You could also use the app to initiate instant money transfers and get full-fledged insights on your spending statistics.
Type of Fintech: Personal Finance
Country: Australia
Finch – A Personal Finance App
Finch is designed for today’s millennials who can be seen with a mobile at any given point of time. With Finch, the company aims at making finance more social and easier. The app allows users to send and receive money without having the need to know any bank details. Besides, users can also use the app to track expenses, split bills and do more.
Type of Fintech: Cash & Real Estate
Country: United States
Tellus – A Cash & Real Estate App
One of the niche and specific implementations of fintech is Tellus. This is designed and developed to foster a seamless transactional environment for landlords and tenants. It allows app users to collect rent, pay rent, maintain all tenant information in one place for easy access and retrieval, perform screening of tenants, initiate services and repairs, in-app messaging, file sharing and more. Truly a useful app.
So, these were the top 10 fintech apps you should know about in 2021 to design and develop your app. With this exhaustive list, we are sure you have a better idea of the fintech world out there. All you need to do right now is tweak your ideas and get an app developed for it.
And for that, we recommend you get in touch with an expert fintech app development company like ours. We offer the most reliable fintech software development services and work with the best fintech app developers in the industry to make your fintech app the most reliable one in the market.
Get started with us today.
One of the primary roles of technology is to simplify tedious processes and make better the lives of people associated with it.
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Chintan Bhatt
The world of fintech has always been a complex one. Filled with jargons, ambiguous terms and conditions, terminologies, and other complexities, the finance sector has […]
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