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Top Mobile Fintech Apps in the US Market

With the effects of the coronavirus pandemic settling in, the sharp jump in app adoption and usage provides encouraging news for the fintech industry. According to a study conducted by Plaid, 80% of Americans now believe they can handle their money without a physical bank branch. These changes in the usage of fintech applications derive from the rise of emerging technologies as citizens explore innovative forms of functioning, connecting and controlling their lives in the wake of the coronavirus pandemic.

MoneyLion

MoneyLion displaying balance, earnings, and credit score
MoneyLion displaying balance, earnings, and credit score. Source: MoneyLion

MoneyLion operates a part of the lending, part of the savings, and part of the wealth management app. Founded in 2013, MoneyLion’s target market is 70% of American customers. It utilizes automation and machine-based risk technologies to achieve a 360-degree view of the personal finances of its customers. This facilitates stronger underwriting and the creation of customized financial product offerings. The all-in-one app lets users connect all their bank accounts and credit cards and get customized guidance on how to best invest their money and even secure loans right inside the app.

Nubank

Nubank's Digital Account
Digital Banking with Nubank. Source: Nubank

This Brazil-based online banking app has achieved enormous prominence around the globe thanks to its groundbreaking features and user-friendly interface. The program allows consumers to maintain track of their invoices and payments.

It is quite handy to keep track of invoices and payments as well as categorize the expenditure and use Nubank incentive points to offset those expenditures. The system updates in real-time, constantly providing an accurate picture of the financial conditions. Other benefits include a rewards program, insightful blogs, a no-annuity credit card that is approved globally, etc.

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Matador

The Social Investment Platform helps users to see what their friends are investing in and then let them purchase and sell all US-listed stocks and ETFs free of charge. People may also see the most owned stock in their friends, and the most transacted stocks in the whole group.

The app offers a comprehensive roadmap to what is being proposed in the finance sector and how to invest. Users can find valuable knowledge of firms, their past stock values, and anything relevant to investing.

The US-based free stock trading app helps consumers to invest in public firms and exchange-traded funds listed on US stock exchanges. It has its own clearance mechanism and no commission fees for transactions in stocks, ETFs, cryptocurrency. It also collaborates with 3500 banks, including Chase, Wells Fargo, and Bank of America. Its another unique feature is the ability to trade cryptocurrencies in the same account of equities and options. Investors can invest in stocks (long only, no OTCBB, and no short selling), Cryptocurrency-Bitcoin, Bitcoin Cash, Bitcoin SV, Dogecoin, Ethereum, Ethereum Classic, Litecoin-, fixed income, and future options.

Mint

Mint is cited as the most popular fintech app based in the U.S. when it comes to gathering details regarding a consumer card, accounts, and purchases. Notification reminders notify consumers of the bills to be addressed, give guidance based on expenditure habits. As a consequence, helping individuals to stay on top of their finances.

Everything in a single space
Seeing everything in a single space. Source: Mint

In addition, Mint provides financial statistics in an easy-to-use online interface with stunning visuals. Overall, it’s really useful with stuff like budgeting, organizing targets, and aggregating all of your financial accounts in one location.

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