In recent years, we’ve witnessed an upsurge
of fintech startups and companies. The numbers dropped a little in early 2019,
but since the third quarter of that year, the value of fintech funding has only
gone upward.
As the millennial audience grows
tech-savvy, financial institutions have evolved to meet their customers’
demands. From a luxurious perk to being a standard, mobile and online banking
is now a must for financial service providers.
But banks aren’t the only financial
institution forced to change their approach to business in the present-day
tech-driven market.
Investment and trading to digital loans,
e-commerce payment, and currency exchanges are other financial services
traversing the digital landscape.
Thus, if you’re joining the Fintech world,
here is some insight into the current fintech space. I’ve outlined some of the
top Fintech startups and companies in 2021:
Whether you are in the financial industry
or not, one example of an investment fintech company you must have heard of is
Robinhood. With no physical location, it is accessible worldwide through the
users’ desktop or mobile.
It makes investment straightforward and
open for beginner traders who can’t afford a traditional brokerage service
provider.
Additionally, it offers Robinhood Gold
service that provides users additional buying power, instant deposits, and
pre-market and after-market trading.
Braintree is a fintech company specializing
in online payment services. As a PayPal division, it allows e-commerce
businesses of all sizes to offer mobile payments to their customers.
Besides accepting multiple payment forms, including
Venmo and credit cards, its products also provide companies an opportunity to
upgrade their security, safeguard their users’ data, and prevent fraud.
Today, it is recognized as a household name
in peer-to-peer payments. Some examples of businesses using Braintree products
include Poshmark, Urban Outfitters, Forever 21, Uber, and Lululemon.
One innovation in the fintech industry that
must be mentioned is Robo-advisors. Robo-advisors are digital platforms that
provide automated financial planning advice without the need for human
supervision.
Betterment is an investment and wealth
management service provider, recognized for its AI-enabled Robo-advisor with
more than $6 billion in assets in its management.
Tandem is relatively a startup compared to
the other names in the list. It is an online banking service provider in the
Fintech sector. But unlike other banks, Tandem doesn’t have a brick-and-mortar
location; it exists only in the digital space. It is a digital-only bank with
an official baking license associated with the Bank of England.
Chime is another name to look for in the
banking category of Fintech. It is a mobile-only digital bank that offers
commission-free, automatic savings. Their customers also get to enjoy an early
payday through direct deposit.
As a savings and investment service
provider, Acorns is one to keep an eye on in the Fintech sector in 2021. It
offers a diverse range of financial management products for its customers,
including debit accounts and IRAs. Users can also find informational content
within the application to learn as they invest.
The Fintech industry is expanding at an
unprecedented rate that means this list is merely a peek of its potential. If
you’re an investor or working in the Fintech industry, stay tuned on the market
trends, latest innovations, and competitor insights.
Or, if you’re looking to launch your
fintech product, consult fintech software development companies like Logiciel
Services. With the speed of advancement, now is the time to invest in
fintech development.
