Fintech Apps, The Future Of Banking And Commerce Worldwide

What are fintech apps?

The simplest explanation goes like this: Fintech is the technology and applications behind the upheaval in how money is banked, spent, loaned, donated and stored. Mobile payments, P2P payments, mobile wallets and blockchain storage chains are all included in the Fintech scene.

No fees, no quotas and no penalties, ever

One of the main drivers behind the Fintech app revolution is the absence of fees, minimum balances and crushing penalties in case of overdrawn accounts. Not to mention stringent guidelines in order to qualify for having a bank account. With an ewallet, a mobile smartphone and b2b payment structures in place, the user is allowed full financial freedom to spend as they choose.

Despite little notoriety, Fintech is as real as it gets

Fintech market cap as of October 2016 hovered in the twenty seven billion dollar arena. This includes Fintech apps and blockchain platforms. Those numbers are set to double for 2017 as more and more consumers are switching to Fintech apps and non­traditional money managing techniques.

Why does Fintech matter?

Fintech is changing the way people and companies are doing business with the impetus on decentralizing monetary controls and regulations and removing them from the central banks. At this point in the evolution of financial systems, removing central control of monetary transactions from banks is a good thing. In the United States alone; banks, wall street and corporate financial institutions can be relied on to do one thing effectively; screw over their clients and the economy. This repeated dynamic of trillion dollar fails and scams was one of the major motivators behind the Fintech revolution.

Fintech apps you should be looking at:

For the web financial user, here are some Fintech applications you want to use:

1. Acorns. Rolled out in 2016, Acorns seeks to make the average Jane or Joe a savvy investor. You download the app on your iphone or android, link a credit card, debit card or ewallet, answer a few simple questions, then Acorns will suggest a stock portfolio based on your income, age and risk tolerance ability. To fund this investing activity, Acorns will monitor all of your purchases daily, then round up to the next dollar amount and reserve that change for your investing. If you purchase a pair of tennis shoes for $23.02, Acorns will round that up to $24.00 and deposit 98 cents into your investing account. This is a fantastic way to dabble in the stock market without the terror­ inducing specter of a failure costing you exorbitant amounts of money. A great tool for investing and learning about investing.
2. CirclePay. Originally a bitcoin wallet for the U.S., CirclePay has evolved into an international payment application that works with US dollars, pounds sterling, euros and bitcoin. Whether you are buying a pair of bongo drums from a local vendor or purchasing goods from an international source, CirclePay has you covered. Never any transaction fees or penalties, just an effortless international payment method.
3. LevelMoney. Forget extensive and complicated budget tracking devices and methods, LevelMoney does it all from the safety of your mobile phone. Linking expenditures, savings and wallet activities daily assists the budget­averse individual to track where their money is going and when at the push of a key. An essential app for anybody who uses their smartphone to make purchases.

The future of financial systems is held in Fintech

The future of finance on a global scale is here, and is not being built on the central bank model. This is a good thing for billions of people around the world.