In his book “Only the paranoid surviveSemiconductor industry legend and Intel founder Andrew S. Grove gives a deep insight into the Strategic Inflection Point (SIP). Describing it as a critical transformation in an industry, Andrew justifies how a SIP affects a company and forces it to change itself in terms of processes, systems, products and sometimes identity. The field of finance, although it remains the same in its motive of saving and research better ways to invest money, has come a long way, from banks to mutual funds, to stocks and bonds. No longer a rocket science, finance has been taken to new dimensions of investments and expense management, thanks to the evolution due to the theory of strategic inflection points. The next chapter in finance has already been ushered in via mobile applications that allow easy investments. fintec investment h, we explore five of the world’s most promising investment-oriented fintech startups, which are exclusively mobile-based.
1. Inuit currency: Mint is an investment advisory and personal banking app, designed in an easy-to-access interface. It keeps track of your income, savings, investments and based on them creates a budget and recommends custom spending. With Mint, you don’t have to worry about checking your account statements or checking pending invoices. Plus, you can find ways to keep your credit score consistent and high. This one-touch financial manager automates your spending based on your income to help you reach your financial goals within a reasonable time frame.
2. Hideout: By reducing the investment threshold to something as small as $ 5, Stash creates a different niche for potential investors. Stash is an entry-level investment platform that promotes around 30 different investment opportunities that one can choose from according to their preferences and goals. These investment options are selected through in-depth technical and market performance reports. Plus, when you start investing through Stash, it provides you with personalized recommendations and investment opportunities to help you earn better returns. How does Stash manage to start investing with something as low as $ 5? Well, these small amounts are used to subscribe to these investments in fractions.
3. Learn and invest with Rubicoin: “Learning by Doing”, when you surf on the Rubicoin site, you find their motivation at the very sight. They released two apps: Learn and Invest, the ultimate purpose of which is clear in their name itself. Via Learn, you have access to valuable micro-lessons on investing, which are published in lay language and can be easily understood by anyone. It aims to create an understanding of investment needs and to instill confidence in you while investing. Continuously updated and enriched, Learn provides access to video, text and even audio lessons on investing. Added to this is the blog shared by CFO Invest, on the other hand, is a stock investing interface app that helps to create and manage an investment portfolio. It has partnered with some of the best online brokers and currently only available to iOS users, Learn and Invest by Rubicoin is expected to hit the Play Store at the end of 2016.
4. Tassels: By far, one of the most innovative ideas for automating your savings and supporting your change is Acorn. Acorn is a Micro Investing start-up. This idea of micro-investment is not related to startups, but to a small amount of money that is invested. To use Acorn, you must first connect all of your accounts and cards to this app. Then, every time you make a purchase through these accounts, the spare currency you get in those expenses is invested.
5. FinoZen: FinoZen believes in a philosophy of investing in short-term liquid mutual funds rather than keeping your money in a low interest savings account. An Indian startup, Finozen has attracted many interns and young employees who want funds without sacrificing the benefit of a higher return on investment. This Android fintech app can be used for as little as $ 2 and earns around 7-8%. FinoZen makes it easy to update daily investment returns and easy transactions from your savings account to your FinoZen account and vice versa. It is interesting to see how the financial advice and investment scenario has evolved to suit all types of scholarships and purposes.
The five mobile apps mentioned above have ushered in the era of digital investments, adding mobility, convenience, and always-on customer support at almost zero cost. Yes, it would be worth it to see how much promise they prove to their clients and if they could possibly replicate the human comfort factor in the world of finance.