Fintech is a remarkable combination of the two words ‘financial’ and ‘technology’. It is an online based market for consumers and provides financial services and products to people through the global vessel of technology. It features access to online banking, managing transactions, using mobile devices to pay bills and buying things online.

 

 

 

Fintech is a one of a kind innovation that the internet has made stronger. The following is a number of famous companies grouped together under the umbrella of Fintech have resulted in innovation and groundbreaking progress on the economic spectrum:

Ant Financial

In the world of famous Fintech companies, Ant Financial takes the lead as the giant famous for its digital payment platforms. It is owned and run by Chinese e-commerce big fish, Alibaba and happens to be the most valuable Fintech company in the world with a market of up to $60 billion.

Acorn

Acorn, a company that works in investment strategies, has introduced a vital term call ‘micro saving’. This investment term adds importance to the loose change we feel is otherwise useless and stocks it up creating a virtual moneybox. So every time a person uses their bank card connected to the Acorn app, their expenditure will be rounded off and change will build up in the micro-investment portfolio with ease.

Robin Hood

As self-explanatory is the name it does exactly what Robin Hood did but virtually and minus the stealing. This company uses innovation to change mindsets so people both rich and poor afford and make investments by steering clear of extra expenditures, expensive products, and unnecessary fees. Robin Hood has successfully encouraged people to get involved in investing online and creating their investment portfolios.

 

 

So Fi

One of the famous companies So Fi introduced the term ‘social finance’. This company provides services otherwise accessed at banks such as mortgage, health and life insurance, personal and student loans. The customers are dealt primarily with their specific experiences, demands, education, income, and history. So Fi also allows users to interact and learn from each other with access to additional information by the social component feature. This advent has led for banks to also cater their customers and clients online.

Fundera

Fundera has made a mark with its innovative loan lending facility. People starting businesses, and companies looking for loans can conveniently use the online portal to enter the loan amount and other required details for processing of their request. Fundera connects and assesses its client’s profiles that want to invest with compatible clients that need the investment or loans for their startup businesses and companies.

Fintech companies have opened a great window of managing finances, making investments, financial solutions, and record keeping. The greatest impact has been on the banks that will now introduce machine learning into their procedures. The Fintech window just keeps on expanding, and with the current rate saving in piggy banks and banking trips will both be a historic practice.