Top 10 Fintech Apps that Every Fintech Startups Should Checkout in 2020
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By: Sagar Sharma

Top 10 Fintech Apps that Every Fintech Startups Should Checkout in 2020

Mobility has impacted every aspect of human life and businesses, regardless of industry domains, and the Finance industry is not an excretion.

In fact, the way financial companies are adopting mobile solutions, it seems like soon the entire world will go cashless.

Fintech apps are the game-changer in disrupting the finance and banking industry. They connect banks/financial institutes with the customers to make digital payments easier than ever before.

People are using Fintech apps for different purposes such as personal finance, crowdfunding, money lending, investment, money transfer, P2P (peer-to-peer) landing, and more. Different types of Fintech apps are developed by financial startup and well-established financial institutes to address the varied requirements.

This post will introduce 10 best Fintech apps that are extensively used across the United States. Here you explore the list.

  • Acorns
  • Revolut
  • Mint
  • Coinbase
  • MoneyLion
  • Robinhood
  • Finch
  • Monobank
  • Earnin
  • TransferWise

If you are planning to develop a mobile solution for your Fintech startup, do not miss to explore the above-mentioned apps. It helps you to get a better understanding of

  • What people are expecting from a Fintech app?
  • Which features do they look for in a Fintech mobile app?
  • What are the gaps between customer expectations and apps’ offerings?
  • How can you fill the gaps through your Fintech app to deliver value to users?

10 Best Fintech Apps to Pay Attention to Before Developing One for You

1.  Acorns

Acorns

Type of Fintech: Investment
Price: Free
Availability: iOS & Android
Country: United States

It is a financial wellness app that guides users about how to get more return on the invested money by offering videos and articles of financial advisors/experts. It allows customers to deposit and withdraw money whenever they want.

Acorn teaches investors how to spend smartly at no overdraft fees, using nationwide ATMs. It also guides how to earn an investment bonus up to 10% from the selected local businesses.

The app is supported by leading innovators, press, and investors such as PayPal, CNBC, BlackRock, and Ashton Kutcher.

2. Revolut

Revolut

Type of Fintech: Personal Finance
Price: Free
Availability: iOS & Android
Country: United States

Manage your money wisely using the Revolut. It sends instant notifications for the money paid through the card. The app allows users to set up a monthly budget and track how much they spend each month on certain products or services.

The app supports more than 150 currencies so that users can easily transfer money abroad at the real exchange rate.

Moreover, Revolut also allows to buy, sell and hold cryptocurrency as it is the trending technology of the Fintech domain. It also supports Litecoin, Bitcoin, Bitcoin Cash, Ethereum, and XRP.

3. Mint

Mint

Type of Fintech: Personal Finance
Price: Free
Availability: iOS & Android
Country: United States

Mint is a finance tracker and money manager app that allows users to manage all the finance with ease. It provides information about how much money the user has spent and the best ways to save money.

The app manages the money of user’s credit cards, investments, credit cards, and bills. It allows to manage money and bills together to make the user’s budgeting practices better. Ultimately, it saves time and money of the users.

4. Coinbase

Coinbase

Type of Fintech: Cryptocurrency Wallet
Price: Free
Availability: iOS & Android
Country: United States

The app focuses on the cryptocurrency exchange. It provides information about the relevant tools and introduces the world of cryptocurrency to newbies. Coinbase helps all the beginners and experts of crypto investors to build and manage their crypt portfolio.

Sell, buy and store the cryptocurrency securely on Fintech stock of Coinbase. If you are interested in the crypto investment, then the app enables you with bitcoin mining, bitcoin cash games, bitcoin games, bitcoin trading, litecoin games, blockchain, and ethereal games.

5. MoneyLion

MoneyLion

Type of Fintech: Mobile Banking
Price: Free (Subscription is chargeable)
Availability: iOS & Android
Country: United States

Using this app, users get access to loans and financial advice. It allows for personal finance, wealth management, money-saving, and money lending.

Users can access zero-fee checking account, fully managed investment account, no interest instacash advance, Low ARP Loan Credit Builder Plus, and up to 12% cashback reward.

MoneyLine provides efficient online banking services across 55000 fee-free ATMs. Moreover, the app helps users to keep a track of savings. The tracking features are accessible to MoneyLion Plus members only.

6. Robinhood

Rabinhood

Type of Fintech: Investment
Price: Free
Availability: iOS & Android
Country: United States

Start investing in cryptocurrencies, stocks, and other options using the Robinhood app. The app uses advanced technologies that cut the percentage to win the cut-throat competition with the other financial institutions.

Users can save money at no commission trading. Robinhood allows to invest money in cryptocurrencies (Bitcoin & Ethereum), stock, shares, and options without any commission fee. Thus, the app allows users to invest money in markets responsibly.
Read the information available for investment portfolio before buying a coin, stock or other investment options. The app enables users with the real-time market data for the particular cryptos, coin or options and keeps the user notified about the changes.

7. Finch

Finch

Type of Fintech: Personal Finance
Price: Free
Availability: iOS & Android
Country: Australia

Finch simplifies personal finance for the users. It allows people to share group bills, pay money to friends, and track their budget.

To access the app, the user needs to sign up and select the pay friends option. The app spits the bills, pays to friends instantly, create groups and share the link with your friends.

It helps users track the spending by enabling them with the details of how frequently they have visited the shop, how much they have spent in the last 30 days. Moreover, it compares the user’s spending with other finchers and helps users to track how they stack up.

8. Monobank

Monobank

Type of Fintech: Mobile Banking
Price: Free
Availability: iOS & Android
Country: Ukraine

It is the first fully mobile bank in Ukraine that does not have any mobile brand across the country. It allows users to pay money to friends, replenish your mobile phone, or pay a communal apartment for free and just with a few clicks on your smartphone.

Monobank allows users to make payments, free replenishment, installment purchase, cashback up to 20%, and expense & currency accounting online.
The app allows users to track expenses for all goods of each category, analyze what the users spend the most on and make well-informed decisions about the budget.

9. Earnin

Earnin

Type of Fintech: PayDay Loan
Price: Free
Availability: iOS & Android
Country: United States

The app allows users to access up to $500 between paychecks, earn cashback on your purchases, avoid unnecessary overdraft fees, and explore saving options on medical bills.

The app uses four tools such as cash out, health aid, balance shield, and cashback rewards to simplify the financial system for the users.

Other important features of Monobank are live chat support, lightning speed, 256-bit bank-level data encryption, and financial calendar.

10. TransferWise

TransferWise

Type of Fintech: Money Management
Price: Free
Availability: iOS & Android
Country: United States

TransferWise is the best money management app if you want to transfer money abroad. It allows to send money overseas easily and quickly at the cheapest rate. The supports 28 currencies and uses real exchange rate to help foreign businesses and students.

Using the app, users can send money abroad at the 8X cheaper rate than the high street banks and at the real exchange rate.

TransferWire allows users to send money to friends and family, pay off your loan or mortgage abroad, get paid in multiple currencies, pay bills in another currency, and more.

How Credencys Helped Anand Rathi in a Fintech App Development?

Being a premier iOS and Android app development services company, Credencys has successfully developed and delivered the mobile apps for the varied industry domain and Fintech is no exception. We excel in developing the cutting edge mobility solutions by embracing the latest Fintech trends.

We have deployed a digital wealth management app for Anand Rathi, India’s leading financial company. The app is live on iOS and Android platforms and highly admired by the users for its user-friendliness and smooth flow.

Do you want to skyrocket your Fintech business through a Fintech app? Let’s connect.

Frequently Asked Questions about Fintech Apps

How to monetize a Fintech app?

To earn money out of the Fintech app, you can consider in-app purchases, subscriptions, advertising, P2P lending, and Robo-advisors. How to Generate Revenue Through Fintech Apps? (5 Proven Strategies) will explain how to monetize your Fintech app.

What are the important features of a Fintech app?

The most important features of a Fintech app are real-time processing, batch processing, fast & secure transactions, integration with other applications (baking & financial apps and backend of web applications), multi-tier functionality, etc.

How much does it cost to develop a Fintech app?

It is quite tough to define the exact cost of Fintech app development as it completely depends on the features and functionality you want to add in the app. If the Fintech apps require integration of different APIs then it charges more than any simple app.
A simple Fintech app with basic features costs you around $30000 to $50000. If you want to consider advanced and complex functionality development and integration then it would cost more than $100000.

How much time it will take to develop a Fintech app?

The development time of the Fintech app is based on how many features and functionality you want to add in the app. The more features you consider, the app development will take more time. A simple app can be developed within 6-8 months. An app with all the advanced features takes up to 12 months.


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