The world of business is just like a vast sea. There are businesses that range on all scales, from small to unicorn, with a staggering value of over 1 billion dollars. However, as of late, most of the new unicorns are actually fine tech startups. Fine tech seems to be the new sheriff in town, as it has taken over the world of business. The major businesses that are already established have realized the potential and scope of FinTech. Therefore, many of the businesses have aligned themselves with fintech apps. They have done it to safeguard their financial side of things by using financial technology with their business structure. This way, these businesses are able to efficiently manage their finances with fintech apps and tools. But what is a fintech application, and what are the five top fintech apps? Let’s find all that out in this blog.
What Fintech Truly Encompasses?
Fintech is a term for financial technology. The term sprang to life during the COVID-19 pandemic as anything that concerned finance and technology. Fintech can be software as well as a mobile application or any similar tech. All of these tech serve the purpose of improving the finance side of a business as well as a normal person. It has changed the way that businesses manage their finance matters in an automated form thanks to the tech. Fintech apps also allow people to manage their finances. It gives them the option to lend money as well as borrow, invest, and trade it online. All of this is done without getting traditional banks involved in the mix of things. These fintech apps give people the freedom and access to independently manage their own finances without the interest of any other financial sector.
But other than that, these fintech apps also make people’s approach as well as business approach towards their finance a bit more smart. It also makes the overall process a much more improved one. Whether it is a company of over 1000 staff or a single person, all of them can manage their finances on the go. This way of managing wealth and finance through the means of fintech apps has become popular as of late. Fintech mobile apps are the talk of the town, and their popularity has spread throughout the US and beyond. Now, just about every other person has a fintech application installed on their smartphone, which hints that a bright future is in store for these apps.
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Fintech Apps For Business Finances
It is safe to say that fintech apps have changed the business landscape for the better. Fintech applications have emerged as the best solution for unicorn businesses in today’s day and age. The business space is dynamic. It is always changing and becoming better on a daily basis. Most businesses face financial challenges regarding managing it. And these problems require a solution driven by tech. That’s where fin tech apps step in to save the day. The fin tech app has made sure that finance today is managed a lot better. With the help of fintech apps, the finances are taken care of in a much more smart way.
Long gone are the days of using the old way of managing finance. It is safe to say that FinTech startups have made the wealth management app for the better of every business. These startups themselves are valued at over a billion dollars. And in turn, these fintech firms offer other companies access to wealth management apps. This allows companies to do financial functions at a much faster pace. These best fintech apps offer digital payment solutions and automated accounting systems. Fintech apps also give businesses personalized financial advisory services. This way, they can optimize their financial strategies. All of this makes them enhance their customer experiences. It allows them to stay ahead of the competition.
Types Of Fintech Applications
Fintech is an arena in and of itself, and it houses several types of apps that serve different purposes. While there can be many types of fintech apps, the ones that are recognized by the wider public are divided into five categories. The wealth management applications that are categorized into five types are listed as follows:
I. Online Banking
Online banking fintech apps have changed the way finances are managed. These fintech apps offer an easy and secure way to use financial services. These services range in many types and can be availed from the comfort of a smartphone or a tablet. Thanks to these fintech apps, people can check the balance of their accounts. Other than that, they can transfer funds and pay bills. More so, with these apps, people can invest in the stock market. These wealth management fintech apps are also secure. They provide security features such as multi-factor authentication and real-time transaction monitoring. All of this protects users’ money as well as their information. In a world where people put emphasis on convenience and accessibility, online banking fintech apps have become the go-to tool. Whether it is a person or a big company, they all use online banking fintech apps for their finance and banking.
II. Personal Finance
Personal finance fintech apps have given people the authority to take control of their finances. It allows them to be financially settled and manage their finances according to their needs. Their financial well-being has become more important than ever before, thanks to these fintech apps. The fintech mobile app for personal finance has a user-friendly UI. It offers them a lot of features that let them create budget plans as well as keep tabs on their expenses. This way, people can set financial goals and make purchase decisions a bit better. The wealth manager app has the best features, like AI and machine learning, to provide personalized financial advice. Now, people can get insights tailored to their specific financial situation. More so, people can link their bank accounts and credit cards with these personal finance fintech apps. Users can get real-time transaction tracking and know where their money is going.
Investment fintech apps have changed the way people make plans for a better future. It also allows them to invest their hard-earned money more wisely. Now, thanks to these investment management fintech apps, people can get investment plans that work better for them. This way, people can plan a better future as well as start their own business. Other than that, many personal finance fintech apps offer better investment options than banks. This allows users to build their wealth and plan for their future. It helps them make more informed financial decisions. With fintech financial planning, people not only save their money but are able to achieve their financial goals as well. All of this is done with great ease and confidence. All from the touch of a phone screen using fintech in investment management. So, all in all, these fintech investment management applications have become so useful to people.
IV. Crypto Trading
Crypto trading is where fintech apps truly excel. That is because crypto trading fintech apps have brought in financial innovation that shines at its best. These applications of fintech have opened the door to people. Now, people can explore the world of digital assets and cryptocurrencies themselves. But that is not the only thing that this fintech app offers. It also gives users the options and resources that they need to either buy, as well as sell, or trade a cryptocurrency. The cryptocurrency can range from Bitcoin to Ethereum. These fintech apps offer market data, as well as charting tools, and order execution options. All of this makes it easy for new users and experienced traders to understand the crypto market. With the interest in crypto trading rising, these apps have helped users make informed decisions. People now manage their investments while taking part in the world of digital assets.
V. Budgeting & Trading
Budgeting and trading fintech apps are a mix of two different apps combined into one. This app can do it all. It provides people with the option to track their expenses. People can also set their budgets and monitor their financial status. Other than that, it also allows people to trade in various financial markets. This way, people can manage their trading activities alongside their budget goals and overall financial strategy. More so, users can add funds from their budget into trading accounts. This gives them greater control over their investment decisions. It also helps them make better decisions. These fintech apps are the best way to manage a budget plan while achieving a financial goal through trading. These apps have features such as automated investing and portfolio rebalancing. All of these help a person maintain an investment portfolio while making sure their budget plan stays in check as well.
Top 5 Fintech Apps In 2023
It can be hard to know what the best fintech app is, as everyone has their own preferences. However, there are five fintech apps that stand out as the best in the entire market available today. So, let’s take a look at these best wealth management apps and see what they are all about.
1. Online Banking With Money Lion
We will start off with Money Lion first, as it is by far the best wealth management app. When it comes to top wealth management platforms, Money Lion takes the cake. That is because this fintech app offers the best online banking. It allows users to take financial services such as loans and much more. However, like all good things, this app comes with a price, as it requires a subscription to use. But what it can do for users in return is much more than what it costs. It gives users financial services as well as provides insights that are backed by research. This app has made quite some waves in the fintech market. People use it to invest their money or borrow and lend money while on the go. The monthly subscription fee of this app costs only $19.99, making it a real bargain for just about everyone.
Perks And Features Of Money Lion
- Users can do free transactions in more than 55000 ATMs around the world
- It gives loans of more than $300 in a matter of minutes, all free of interest
- Users can transfer their funds instantly without paying any transaction fees whatsoever
- Users can get cash back rewards of more than 13% on an instant
- Users can track their credit score in real-time and get suggestions to improve it
- Fintech in wealth management dashboard that is easy to use and is organized right
- The app offers users automated investment options in stocks and crypto
2. Personal Finance With Chime
Next up is Chime, which is the king In the world of personal finance fintech apps. This app allows people, as well as companies, to manage their wealth a bit better. This app is quite the opposite of the one we featured above, as it requires no monthly subscription plan to use it at all. It is free for all, and that is what makes it so great in the first place. This way, this app can be used by just about everyone. However, at the same time, it makes sure to fulfill its purpose. And that is to provide a banking service to all with no monthly fees and no transaction charges. This fintech app makes the online banking experience free of hassle. This makes it the best online banking app there is. The number of users that this app has is more than any other fintech app.
Perks And Features Of Chime
- Users can get early access to paychecks
- Low interest rate on savings
- Free transactions on more than 60,000 ATMs
- Free of cost digital banking experience
- It can connect with other mobile payment apps
3. Crypto Trading With Coinbase
Coinbase is the one app whose name comes on top when speaking of crypto trading. It is the best app for cryptocurrency exchange, and that’s why people all over the world use it. The security features of this app are robust and make it hard for any threat to penetrate. It also offers people protection against cyber-attacks as well as crypto scams. Other than that, it also has a user-friendly interface that makes it easy for people to use it. More so, this app houses a lot of useful guides and tutorials about crypto that make it easy for newcomers to understand the world of crypto trading a bit better. Coinbase is the best app for trading as it supports more than 150 cryptocurrencies. People can start buying cryptocurrencies they like with only $25. The transaction fees of this app are also quite low as it is only 0.5%.
Perks And Features Of Coinbase
- Users can trade and store cryptocurrencies as well as buy and sell it
- Security features against crypto scams and cyber attacks
- Insights of the performance of cryptocurrencies in the form of Graphs and charts
- Users can get access to the price of every currency at any time and day
- Easy trading and exchange with just a single click
- It has low exchange rates of only 0.5%
- Get predictions on popular cryptocurrencies on a regular basis
- It has built a reputation as a trusted app by more than 90 million crypto fans all over the world
4. Budgeting And Personal Finance With Mint
On the subject of a fintech wealth management app that can also set a budget, Mint is the one app that can do both. Out of all the fintech apps, most people go for this one as it allows them to keep their budget straight and plan it for a month or a week. Apart from setting the budget with this app wealth management also becomes as easy as ever. With this personal wealth management app, users can keep track of their expenses. The app itself also keeps tabs on everything. This way, it automatically creates a financial projection that will result from the user’s spending. By doing so, people can take notes on their spending and plan a better financial plan for the future.
Users can also link their digital bank accounts as well as their crypto wallets with this wealth app. There are many features of this apps wealth management, such as a net worth calculator and automated savings. Users can also track their bill payments as well as check their credit scores. All of these features make it the best option on the market available today. It is certainly one of the most used fintech apps in the world, with over 25 million people using it on a daily basis. As for the versions of this app, it comes in two options: a free version and a paid version.
Perks And Features Of Mint
- Users get a free credit score calculator
- Users can keep tabs on their financial expenses and create budgets
- It allows users to connect all their digital accounts to this app
- No fees for money transfers
- Instant money transactions
- Best security features to protect user’s money
- Users get financial analysis and projections free of cost
5. Invest And Trade With Robinhood
The last fintech app we have on this list is Robinhood, which is the best option for investment and trading. Out of all the wealth apps so far, this one allows users to invest in publicly traded stocks. It also gives users the option to trade as well as invest in crypto and ETFs without any charges. People who are new to stock investing and trading can use this app as it is the best option for beginners. This app allows trading for free, and that is why Robinhood has become the top wealth management platform in the world. Stock enthusiasts and investors take advantage of its no-commission strategy to increase their wealth. Users can exchange just a small part of a bitcoin with Ethereum. They can also buy huge stocks of a publicly traded company. It is safe to say that this app allows users to do it all.
Perks And Features Of Robinhood
- Users can invest in multiple options such as stocks, crypto, and ETFs
- Users can trade and exchange with any commission fees
- Information and tips from real-time market data that can be acted upon
- Users can monitor their spending and manage cash with ease
- Can link up to 4,000 banks around the world
- Users can trade cryptocurrencies free of cost
- User-friendly app design that is easy to
- Instant and seamless transactions
Build A Fintech App With Linkitsoft
The landscape of fintech apps is always evolving. So, if the options available online do not meet the client’s needs, then they can always approach Linkitsoft for their fintech solutions. Linkitsoft has the best fintech app developers that will refine the client’s niche and build them a fintech app. Linkitsoft offers services like all the best wealth management fintech companies out there. Clients can have a custom app for fintech asset management made from Linkitsoft that will best serve their needs. Their developers use the latest and greatest financial technology wealth management features to develop the app. This way, Linkitsoft makes sure that the app they develop is modern and full of amazing features. Their team will take the client’s needs into consideration before getting the project underway. They will also help clients choose the tech stack and clarify the scope. This will clear concepts and ensure clients are satisfied.
So there you have it, folks, that is it for this blog. These are the top fintech apps that are ranked in the top 5 in the world. However, if a client wishes to have their own custom fintech app, then Linkitsoft is here for their solutions. If you liked reading this blog and want to read more like this, then you can check them out from the blog section of our website. Until next time, goodbye and have a nice one.