5. Robo-Advising and Stock-Trading Apps
- Robo-advising provides algorithm-based asset recommendations and portfolio management that have increased efficiency and lowered costs.
- Advanced technology that can analyze various portfolio options 24/7, financial institutions have adapted to offer online robo-advising services – including the likes of Charles Schwaband Vanguard.
- Inexpensive and low-minimum apps like Robinhood or Acorns, investing from anywhere with any budget has never been easier.
6. Budgeting Apps
- Fintech revolution prompted the development of financial services apps, consumers can easily and efficiently keep track of their income, expenses and other budgeting tools that have revolutionized the way consumers think about their money.
- Budgeting apps like Intuit’s help consumers track their income, monthly payments, expenditures and more – all on their mobile device.
- PayPal has long been a favorite on the market, even despite recent weak forecasts for 2019. In fact, PayPal racked up some 267 million users worldwide as of the end of 2018 – adding some 31% more accounts for the year.
- Visa is considered in the fintech space now, andanalysts seem bullish on the stock’s potentialgiven the company’s increasing shift toward plastic and technological advances.
- Alibaba is consistently a big fintech stock to know – and potentially own. “Alibaba is years ahead of any competitor in driving digital commerce forward,” said MKM Partners analyst Rob Sanderson last
Who Uses Fintech?
B2B (Business to Business)
- Businesses can easily get loans, financing, and other financial services through mobile technology.
- Cloud-based platforms and even customer-relationship management services like Salesforce provides B2B services that allow companies to interact with financial data to help improve their services.
B2C (Business to Client)
- Cash apps like PayPal, Venmo and Apple Pay all allow clients or customers to transfer money via the internet or mobile technology, and budgeting apps like Mint allow customers to manage their finances and expenses.