Blaine Douglas, CIMA - Blaines Blog - FinTech Apps you should know

Smart-phones are less of an option these days and more of an extension of everyday life. Your phone is there for you when you need to know the weather, connect with your friends and colleagues, and when you just have to post that perfect Instagram of yesterday’s brunch. So it’s really no surprise that financial technology, or fintech for those in the know, is having a major boom right now, developing some pretty incredible apps. For those of you that don’t know, Fintech is the emerging financial services sector, “including any technological innovation in the financial sector, financial literacy and education, retail banking, investment and even cryptocurrencies like bitcoin.”1

Major Fintech players are developing some incredible technology - i.e. apps - to be accessed via. smartphones disrupting the financial industry as we know it. Below is a list of a few of the most popular financial app types.

Apps for Online Banking

It’s probably no surprise that the turn of the phrase, ‘banking hours’ is becoming a thing of the past. With the development of online banking, no longer is the average customer confined to 9-5, Monday to Friday. Your banking app has some incredible usages, from sending money, to paying bills, to cashing a check with a picture. Most banks have developed their own apps, however, if you’re curious, check out AdvisoryHQ’s list ranking the tops banking apps in the USA.

Apps For Financial News

First things first, the development of apps in the financial world has greatly allowed for financial literacy to be available to the public. After all knowledge is power, and these apps are allowing for the everyday investor to have up to the minute information on the sometimes tumultuous landscape that is the financial markets. Investopedia does a fantastic job of reviewing some of the best apps for financial news.

Apps for Personal Financial Tracking

Another major category of FinTech apps are ones to track your personal financial goals. Apps like Mint allows for users to set financial goals, and can often be used in conjunction with advice from financial professionals. What’s cool about this technology, is that you connect your bank account to the app, and through the platform you can view your spending habits via graphs and charts, and track progress towards your goal.

Resources

1. Investopedia.com, PC Magazine

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