Fintech apps are considered the game-changers in recent years and beyond. With numerous fintech apps emerging, users now have a plethora of opportunities to gain investment insights and make financial transactions quicker, easier, and more automated. Let’s look at some of the top fintech apps that provide everything from lending and personal finance management to investment in the article below. This list will save you from wasting much time in selecting the best app suitable for your needs.

Fintech Loan Apps

Fintech loan apps have changed the face of conventional lending services. Gone are the days when one had to go to a bank with a bunch of documents; today, one can borrow money with just a few steps via loan applications. The fintech apps for lending are convenient, not only assuring privacy but also flexibility and speed in the loan approval process. Here are some of the best fintech loan applications in the market.

• MoneyLion: Built-in 2013, MoneyLion is targeted at the huge financial needs of several users; it is rated as one of the best American fintech applications. It has budget management, creation of credit histories, and management of everyday banking activities among its features, but perhaps among the standout features are loans for savings and asset management that give clients access to loans. Its target customer base is youths, even though any person who owns a smartphone can use this application.

• Dave: Dave is one of the highest-rated fintech loan apps in the U.S., providing an entire financial ecosystem that equips users with all the necessary tools to achieve financial stability. Dave enables users to do more than just live paycheck by paycheck: they can start working on increasing their financial potential.

• Earnin: Earnin is an app fintech intended to empower users to gain better confidence and control of their finances. The app gives access to wages anytime. This application is free, although users make donations rather than pay service charges.

• NIRA: NIRA grants personal loans for salaried individuals, starting from a minimum amount to the maximum, with tenures ranging from 3 months to 1 year. The rate of interest on the loan completely depends on the amount lent and the time of repayment.

• MoneyTap: MoneyTap is one of those pioneering fintech loan apps in the personal loan revolution. It has this unique value proposition of “no usage, no interest,” where users pay interest only on the amount utilized, thus making it highly affordable for borrowers.

Best Payment Apps

With the coming of mobile payment apps, people can easily make transactions at any place and time, just with the use of their smartphones. This means you shop just by tapping scanning or sending money to your family members without lining up. Below are 5 convenient and widely used mobile payment applications:

• Apple Pay: While there are about 1.4 billion iPhone users all over the world, 1.4 billion consumers would be able to make transactions with Apple Pay. The app utilizes secure and user-friendly technology behind Touch ID or Face ID for fast and efficient payments from mobile devices without cards and PINs.

• PayPal: PayPal is one of the best Fintech apps in the world, which is highly acceptable and integrated across the world. This provides a secure online shopping experience, hence simplifying money management. In PayPal, you can add several cards to the application for easier transactions while purchasing something.

• Venmo: Venmo makes transferring and receiving money seamless, whether it’s between customers and businesses, friends, or family. Users can split bills, make personal payments, shop at favorite brands both in-store and online, and send digital gift cards. By eliminating monthly fees and minimum balance requirements, apps like Venmo make money management simple and enjoyable.

• Cash App: This mobile payment application provides, through a QR code, a fast, secure, and efficient way of paying for something. Ultimately, for businesses, it makes financial transactions smooth and frictionless to send and receive money. It has grown as an engaging financial ecosystem and offers a range of services to more than 50 million active customers.

• Zelle: Zelle is a fintech application that facilitates direct bank-to-bank payments. All a user needs to send money to their friends or family is the email address or U.S. phone number of the recipient. Its services are quick and easy, operating most banks within the United States. Zelle predominantly deals with smaller businesses or with entrepreneurs who need fast and secure ways of paying others without the headache involved with other methods. Since its launch in 2017, Zelle has processed more than 5 billion digital payments and now connects with 2,100 banks and credit unions.

>> See more: Mobile payment application development

Top Investing Apps

Among a wide variety of fintech applications, some of the most important, investment, and trading apps have made it very easy for any commoner to operate, be it a novice investor or an experienced one in the business. These apps make investing in finance extremely easy; thus, even a first-time investor can start investing with the most negligible amount. Following are the top five most popular fintech investment apps:

• Robinhood: Robinhood is at the forefront of online stock brokerage, making investment easier and more accessible, particularly among the young with no or less experience. The app allows users to trade in publicly listed companies and exchange-traded funds in U.S. stock markets. The main feature is zero-commission investments in stocks, ETFs, and cryptocurrencies, besides having a smooth system of payments and clearances.

• Betterment: This company was the very first to provide robo-advisor services. Betterment automates investment management to help users achieve their financial goals. It applies advanced algorithms in the creation and management of diversified portfolios, which perfectly suit the risk level and goals of every user. This application is ideal for people who want to invest with minimum effort.

• Stash: This application democratizes investments by even allowing users to invest as low as $5. The process is made very smooth and enjoyable. Stash has a long list of investment types one may opt for, including ETFs, fractional shares, and stocks. Unique to this application is that it combines investing, banking, and education in one smooth process. Users are also allowed to access educational resources and learn more about investing and get recommendations tailored to them.

• Fidelity Investments: Known as one of the best all-in-one financial apps, Fidelity Investments offers a complete package, including retirement accounts, checking and savings accounts, investment portfolios, and credit accounts. It’s a great choice for people who want to manage all their finances in one place.

• Fundrise: This fintech app is a popular platform for direct investment in commercial real estate, no matter how much capital you have. Fundrise gives detailed information about potential deals so users can choose where to invest. You can start with a small amount, and as you invest more, you’ll gain access to a curated selection of better deals. The app also lets users reinvest their dividends to grow their investments further.

>> Read more: Create investment platform development

Neobanks Apps

With the ability to provide traditional banking services in a fully digital environment, neobank applications make transactions more convenient, less costly, and time-saving by eliminating the need to visit physical branches. Below are some widely used neo-bank apps today:

• N26: N26 is one of the leading fintech apps offering quick, flexible, and transparent money management solutions. The app provides free daily banking services with no monthly or annual maintenance fees, three free ATM withdrawals per month, and no foreign exchange fees. Additionally, it offers access to retailer discounts and rewards through its savings aggregation feature.

• Chime: Chime is a fast-growing app fintech in the U.S. It allows users to manage spending and savings accounts without any hidden transaction costs. With a vast ATM network, Chime is considered one of the most convenient financial technology solutions, providing a great alternative to traditional banking services.

• SoFi: The modern financial products and services offered by SoFi help users borrow, save, spend, invest, and protect their money. Currently, nearly 6 million users are benefiting from the features of SoFi, making it a versatile tool for financial management.

• Monzo: Launched in 2015 as a mobile app and prepaid debit card, Monzo transitioned to offering full current accounts in 2017. Today, it has more than 8 million customers. According to representatives from Monzo, this app is described as a new type of bank that “lives on your smartphone” and is designed to adapt to the fast-changing world.

• Starling Bank: Starling Bank is a fully licensed and award-winning bank that offers a smarter, fairer, and more human-centric alternative to traditional banks. With Starling Bank, users can open four types of accounts: personal, business, joint, and Euro. The app uses world-class technology to redefine banking, providing tools that put financial control right in the palm of your hand.

Manage Spending and Save more Effectively with Budgeting Apps

Talking of the fintech apps, it is just impossible to dispense with budgeting applications. They are built in a way to manage finances, track expenses, and eventually make better financial decisions. Following are some popular budgeting applications:

• Mint: Mint is an all-in-one personal finance app that allows users to track expenses and manage their money. It provides a complete overview of financial health by syncing credit cards, bank accounts, and bills. Notable features include bill payments, credit score monitoring, bill reminders, income tracking, and budget planning.

• Goodbudget: Goodbudget is an envelope system-based budgeting application. Users can create “envelopes” for all their budgeting categories, including rent, dining out, and groceries, and divide money among the envelopes instead of managing one account balance. It has been considered one of the best fintech apps to track spending and plan finances.

• Honeydue: Honeydue is a free fintech app developed for couples to collaborate in financial planning. It helps one track all his bank accounts, loans, and investments in a single spot. The factor working for it, though, is facilitating conversations on transactions right in the application – makes Honeydue a customized solution to help a couple manage its finances.

• Personal Capital: Personal Capital offers both free and paid versions for budgeting. The free version enables users to track budgets and monitor investments, while the paid version includes access to financial advisors. Moreover, retirement planning and the ability to track one’s net worth are possible in Personal Capital, a comprehensive financial management application.

• YNAB (You Need a Budget): This app concentrate much on making one work properly with the budget that someone holds. Features range from the setting of goals down to tracking the budget and current debts owed. More materials exist for the financial improvement in understanding among clients using fintech apps.

Cryptocurrency, Decentralized Finance

These types of fintech apps facilitate access to blockchain technology, cryptocurrency trading, and wallet management. Below are some standout examples:

• Coinbase: At the forefront of the top fintech apps for navigating the world of blockchain and cryptocurrencies is Coinbase. It is designed to offer users a very secure platform to exchange in cryptocurrency: buy, sell, trade, store, and stake multiple cryptocurrencies. It allows trading up to more than 100 currencies and is extremely friendly to beginners who have just started using cryptocurrency.

• Binance: Binance has grown into a centralized exchange that has been making great leaps in the DeFi space. Large volumes of trade and its strong ecosystem make it one of the most remarkable fintech platforms.

• Crypto.com: Known for its comprehensive cryptocurrency services, Crypto.com is leaving its mark in the growing DeFi sector. This platform caters to both beginners and seasoned users with its intuitive interface and competitive APY (Annual Percentage Yield). Understanding the importance of decentralized finance, Crypto.com combines high returns with user-friendly staking features, offering an attractive option for investors looking to maximize their crypto income.

• eToro: eToro is a powerful fintech app enabling users to invest in over 2,000 assets, including stocks, commodities, and cryptocurrencies. With more than 13 million registered users, eToro provides a vibrant community where investors can share strategies and copy the approaches of successful traders. It offers easy buying, holding, and selling of assets while enabling real-time portfolio tracking.

• Gemini: Gemini is a cryptocurrency platform tailored for businesses to manage digital assets securely and reliably. Its key strength lies in its robust security and compliance measures, ensuring a trustworthy experience for enterprises entering the cryptocurrency economy.

Conclusion

Since users are seeking to find easier ways of managing and carrying out their financial transactions, fintech applications are gaining popularity now more than ever. As a user, this is now the ideal time to reap all the benefits and services provided by financial technology.

For businesses in the financial sector, developing fintech apps at this moment can provide significant competitive advantages and help you build a loyal customer base.

If you’re interested in creating fintech apps with advanced technology and user-friendly interfaces, feel free to contact Luvina for comprehensive consulting services.