Learning from Fintech Companies
Financial technology or Fintech is a business that has goals of providing financial services with the use of software and modern technology. This modern technology includes mobile payments, personal financing, loans, and a lot more. The big fintech companies are concerned with modern technologies that make things a lot easier for users.
In the tech world, a start-up company that began at the bottom and worked their way up to being worth billions of dollars is a unicorn. Unicorns were rare a long time ago but today, there are appearing all over the world.
In Forbes Top 50 fintech companies for the year, 19 were worth billions of dollars and 20 startup companies. Below are some of the companies that were included in the Forbes top 50 fintech companies.
An investing app called Acorn helps you save money in small and painless increments and rounds up your debit and credit card spending. Betterment is the largest independent robo-advisor. If you want to buy, sell, and manage cryptocurrency, you can get help from Coinbase. Fundrise is one of the startups that helps you to invest money in real estate according to your goals. Robinhood makes it easy for you to invest in stocks, ETFs, cryptocurrencies, and more, commission-free. If you only have small amounts of money to invest then Stash can help you.
These are examples of the fastest growing fintech companies. The reasons below helps us to understand how these companies excelled.
It is very easy to use Betterment. It is so simple that you will doubt that you did it the right way. Users thought they will get confused but they were able to get it right the first time. Betterment also uses a robo-advisor which is a digital financial advisor that can help you manage your money. Advise is given at a low cost. So, even if you have time and budget constraints, the service is accessible to you.
You benefit from the low monthly payment plans of Acorns. Anyone can afford it. Students can even get their basic plan for free.
If you need vital information, then Stash can give it to you. They provide blog posts on subjects that are currently relevant like cryptocurrency.
Customers can access these business marketing techniques which are appealing to them. Consumers look for how they can benefit from your brand. You can reach out to them by telling a story that they can identify with. Here is where you can read.
Acceptable modes of payment that we often use are provided by fintech companies. Companies like Square can read debit and credit cards.
It only takes an email address to open a PayPal account which is very easy to set up. Notifications will be sent out to your smartphone. Other payment apps include Venmo which has a social aspect added to it.