11 Best Fintech Apps Transforming The Financial Landscape

  • Published:

    27 Jun 2024

  • Last updated:

    16 Aug 2024

It is undeniable that the pandemic has disrupted the business environment in every sector and given rise to new opportunities for growth. Fintech is one of the rapidly evolving domains. Companies providing financial services through fintech apps are revamping their offerings to meet custom needs during uncertain times. 

Today, fintech mobile apps are not just limited to online banking apps or online payment method apps; there are also solutions like smart savings apps, personal finance assistants, cryptocurrency payment getaways, expense sharing, split payments apps, and many others. 

Accenture’s 2023 study found that nearly half of U.S. consumers now use fintech services regularly. Platforms like these streamline critical tasks such as payments, lending, investing, and budgeting seamlessly across devices.

No matter if you’re an established industry player or just getting started, fintech apps are in high demand now. Here are the 11 best fintech apps that are doing great in the industry so you can get some inspiration.

Best Fintech Apps That Will Inspire You

  • Acorns
  • Betterment 
  • Paypal 
  • Moneylion 
  • Chime 
  • Mint 
  • Ally Invest 
  • Goodbudget 
  • Stash
  • Honeydue 
  • Venmo

Fintech mobile apps have changed how we manage money, invest, save, and pay. Here are 11 top fintech apps that showcase innovative features and offer inspiration for developing your own fintech app. 

1. Acorns – A Saving App

Acorn is among the most outstanding micro-investing apps that make saving and investing simpler for all. If you are developing an investment app, this could be a useful reference point. It is a fantastic option for people who wish to easily grow wealth through automated investment.

You can invest any change from your everyday purchases into diversified portfolios by linking it to your bank account. This application is appropriate for first-time investors or those looking for a simple savings approach.

Key Features:

  • Round up spare change from everyday transactions to invest.
  • Daily, weekly, or monthly investment schedules are possible.
  • Users are educated on financial literacy so as to make informed choices.
  • Portfolios built with respect to your risk tolerance and financial objectives.

 2. Betterment – An Investing App

Betterment became the first firm to offer robo-advisory services, which provide automated investment management solutions to help users reach their financial objectives.

Focused on personalized investment strategies, Betterment uses advanced algorithms to develop and manage diversified portfolios based on an individual’s risk tolerance and goals. 

Key Features:

  • It automates investments in accordance with user needs and the level of risks they can take.
  • Sells securities at a loss strategically to minimize taxes.
  • Provides financial tools to set and track financial goals.
  • Maintains your asset allocation automatically.

 3. PayPal – A Payment App

It goes without saying that PayPal has revolutionized online payments and has become one of the best fintech apps in the world today. PayPal’s user-friendly design and widespread acceptance make it a convenient payment method for consumers and businesses alike.

Paypal offers users secure online shopping, money transfers, and financial management. You can link your bank account, debit card, or credit card to the app to facilitate transactions. PayPal simplifies managing your money, from personal transactions to business payments. 

Key Features:

  • Send and receive money internationally with ease.
  • Tools for businesses to accept payments online, in-store, or on the go.
  • Advanced encryption and fraud detection to protect transactions.
  • Instantly transfer money to friends and family.

4. MoneyLion – A Financial Management App

In 2013, MoneyLion was introduced as a mobile app that offers a broad range of financial services at one low price in a single fintech app for users with different financial needs. It allows users to manage everyday banking, invest, build credit, and receive cash advances.

Mobile banking is primarily targeted at younger audiences, but everyone can use it to access the vast majority of financial services offered by physical banks or credit unions.

Key Features:

  • Monitor spending, savings, and credit scores in one place
  • Provides personalized loans with low-interest
  • Resources and tools to improve credit scores
  • Pay your bills on time and earn rewards.

 5. Chime – A Digital Banking App

Chime is a mobile-only bank app that is rapidly expanding in the United States. This app allows users to manage their spending and savings accounts with no transaction fees. 

It’s a great budgeting tool because it provides a variety of automatic saving options. 

This fintech app has a wide range of free ATMs, making it the most convenient banking app. While it offers limited investment options, it may not be the best choice for those seeking complex banking services. 

Key Features:

  • No overdrafts and maintenance charges.
  • You can access your paycheck up to two days early.
  • Put spare change in a savings account or round up transactions.
  • Account activity and transactions are notified instantly.

6. Mint – A Personal Finance App 

Mint is an all-in-one personal financial application that allows users to keep track of their expenses and manage their money. A complete picture of a customer’s finances can be provided by syncing their credit cards, bank accounts, and bills.

The features that make Mint stand out are the ability to sync with bank accounts and credit cards so that users can keep track of their income and expenses, plan budgets, and meet financial goals. Additionally, customers can monitor their credit scores and receive personalized advice. Along with bill payments, Mint’s fintech app offers investment options. It also sends reminders about bills as part of its financial management tools.

Key Features:

  • Create and manage budgets based on your spending patterns.
  • Keep track of upcoming bills and set reminders to avoid late fees.
  • Free access to credit scores and tips to improve them.
  • Detailed reports on spending, saving, and investment patterns.

 7. Ally Invest – An Online Brokerage App 

The Ally Invest app makes your financial life simple and secure. Managing your bank, credit card, investing, auto, and home loan accounts is easy with this fintech app. Investors of all experience levels can take advantage of advanced charting tools and calculators to make the most of their investments. With Robo Portfolio, you can select one strategy, then get a fee-based market-focused portfolio or invest more money in cash.

Key Features:

  • There are no commissions on U.S.-listed stocks, ETFs, or options and no account minimum to get started. 
  • Investment options tailored to do-it-yourselfers.
  • An array of market analysis and research tools to assist in the development of all types of investment strategies. 
  • Competitive rates on IRAs and other retirement savings options.

 8. Goodbudget – A Budgeting App

Goodbudget is a budgeting app that uses the envelope method. Users can create envelopes for all their budgeting categories, such as rent, groceries, eating out, and date nights. In each envelope, users set aside money to spend based on categories rather than their account balance upfront. The fact that it is not just a spending tracker but also a spending planner makes it one of the best fintech apps. 

It can be used as a reference if you are building an app to track finances. Users can use this app to keep in touch with family and stay organized so they can spend their money wisely.

Key Features:

  • Organize spending by creating virtual envelopes.
  • Manually track expenses to stay within your budget.
  • Tools to manage and pay off debt systematically.
  • Multi-device access to your budget and expenses makes managing them easy.

9. Stash – A Micro-investing App 

Another name on the list of top fintech apps is Stash. A variety of investment options are available in the app, including stocks, ETFs, and fractional shares. Its educational resources allow users to learn more about investing and get personalized investment recommendations. 

This fintech app allows users to start investing with as little as USD5. The app’s goal is to make investing accessible and fun for everyone.

Key Features:

  • Small amounts of money can be invested in stocks and ETFs.
  • Access to a wealth of educational content on investing.
  • Set up automatic investments to grow your portfolio over time.
  • Options to save for retirement with traditional and Roth IRAs.

10. Honeydue – A Couples Finance App

Honeydue is a free fintech app designed to facilitate financial collaboration between couples. It supports over 20,000 financial institutions in five countries and allows users to track all their accounts, including bank accounts, loans, and investments, in one place.

The app also helps to coordinate bills like a pro with timely reminders to avoid penalties. Communication is key in any relationship, and Honeydue facilitates this by letting users chat about transactions directly within the app. Plus, with industry best practices for data protection, Honeydue ensures your financial identity and information remain secure.

Key Features:

  • Manage shared expenses and accounts with your partner.
  • Set reminders for upcoming bills to avoid late payments.
  • Visualize spending patterns and categorize expenses.
  • Directly communicate with your partner through the app.

11. Venmo – A Social Payment App 

Venmo is a payment app that allows you to receive and send money from friends and family. You can also split expenses and bills with other users. The Venmo social feed lets you see what your friends are buying and paying for.

Venmo also lets you make personal payments and shop for your favorite brands in-store and online. You can also send digital gift cards as last-minute gifts. Venmo offers a debit card for teens, which provides full parental control and visibility. Fintech mobile apps like these make managing money easy and enjoyable by removing monthly fees and minimum balance requirements.

Key Features:

  • Share and comment on transactions in a social feed.
  • Send money to friends and family instantly.
  • Easily split bills and expenses among friends.
  • Accept payments for goods and services through Venmo.

Top Trends Fintech Apps Should Consider 

The fintech industry is rapidly evolving, embracing trends like artificial intelligence and super apps. Here are some promising trends to keep in mind for your fintech app development:

Super Apps

Initially, one fintech app served one goal. Now, users prefer all-in-one solutions. Super apps cover multiple functions, like Uber, which offers food delivery, rides, and freight services. In fintech, super apps can manage budgets, insurance, bill payments, wallets, loans, etc.

Sustainable Business 

Banks and neobanks are shifting their focus from quantity to quality, seeking long-term relationships with customers. Even minor problems can turn users off from the best fintech apps. Digital banks now prioritize customer loyalty to avoid this.

Generative AI

Generative AI, a neural network technology, generates new content and predicts trends based on data. In fintech, it enhances customer support, fraud detection, financial guidance, and risk assessment. Startups looking to develop fintech apps benefit from AI’s technological potential and marketing appeal.

Crypto & Blockchain 

Although smartphones are widely used, many people still do not have access to banking services. Decentralized finance (DeFi) allows trading digital currencies without banks, exchanges, or brokerages. DeFi offers faster transfers and stronger security, protecting financial data via blockchain.

Biometric Security 

Financial data has always been a prime target for fraudsters. Biometric authentication, using face, voice, or fingerprint, enhances security compared to PINs and passwords. Apple’s Face ID and Touch ID use this approach, improving user experience for mobile payments.

Other top fintech trends include gamification, micro SaaS development, and more, shaping the fintech industry.

Case Studies of the Best Fintech Apps 

Here are real-world examples of fintech apps that have made a significant impact in the industry. These case studies provide insight into the challenges faced, solutions implemented, and key features that make these apps different.

1. Investii

Investii is a financial enterprise dedicated to enhancing financial literacy and helping individuals make profitable monetary decisions. This fintech app allows users to manage multiple bank accounts, investments, and IRAs on a single platform, promoting automated savings and streamlined fund management.

Business Challenges:

  • Lack of Savings
  • An absence of a common platform
  • An insufficient number of technical resources

Solution Overview:

Investii now offers a comprehensive solution for managing finances, facilitating easy transactions, savings, and financial stability. It enables users to monitor expenses, make investments, and boost savings. This cloud-native platform is continually updated for security and efficiency and is deployed using Amazon Web Services (AWS).

Key Features:

  • Blue Print
  • Control Centre
  • Marketplace
  • Reward Points

2. Ajman Bank 

Ajman Bank, a leading Islamic financial institution established in 2009, sought to enhance user engagement and customer loyalty by developing a reward planning application for Power credit cardholders. The goal was to provide multiple benefits and encourage membership retention.

Business Challenges:

  • Aggregating offers from multiple platforms
  • Counting points at every transaction
  • App security & uptime of 99%

Solution Overview:

Ajman Bank launched the Power Traveler app, offering over 500 benefits on dining, entertainment, wellness, and lifestyle for Power credit cardholders. OpenXcell developed the app from scratch, integrating an aggregator to consolidate offers from multiple sources. The app features real-time transaction tracking for point updates and robust security to ensure 99% uptime.

Key Features:

  • Nearby Location Benefits
  • Unlimited Redeeming and Claims
  • Savings on Bill Payments
  • Merchant Redemption
  • Highly Secured

Conclusion 

Globalization is making waves in every industry, and fintech apps are not going away anytime soon. This presents a unique opportunity for startups and established companies to invest in fintech apps and tailor them to their business objectives and customer demands. These best fintech apps can be a good inspiration to get you started on your own Fintech journey as well.

It would be best to hire a fintech software development company for better results. Our experts at OpenXcell are ready to help you conceptualize, develop, and launch your fintech app. Further, we will provide you with post-development support and maintenance in order to continue your journey to the best fintech app.

A dynamic content writer with a degree in Mass Communication and Journalism, she specializes in writing for web and social media.  It is her passion to play with words and keep up with technology trends. Her passion for reading drives her to create engaging, educational, and inspiring content.

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