Top 10 Best Fintech Apps You Need to Watch Out [2024 Edition]

The rapid growth of fintech solutions has dramatically changed how we manage our money today. Thanks to widespread smartphone use and the demand for digital ease, new and user-friendly apps are shaking up the old ways of banking. As more consumers and businesses adopt digital methods, fintech apps are set to offer even more groundbreaking features. Future advancements like broader 5G/WiFi6 connectivity, integration of artificial intelligence, and access to real-time data will further enhance these services. Understanding the leading solutions in various financial areas can help us keep up with these fast-moving trends. In this blog, we’ll delve into the top 10 fintech apps you must watch out in 2024. Now, let’s get started!

What are Fintech Apps?

Fintech apps are software programs designed to enhance and automate the delivery and use of financial services. They leverage technology to help businesses and consumers better manage their financial operations, processes, and lives; by utilizing specialized software and algorithms that are used on computers and increasingly, on smartphones.

> Related: What Is Fintech? A Complete Guide For Beginners

How to Choose A Suitable Fintech App?

When picking a fintech app, think about your financial goals and the features you need most. For instance, if saving money is your priority, look for an app with a high-interest savings account or features that help you save automatically.

If you’re keen on investing, choose an app that provides various investment choices and charges low fees. Also, check the app’s security measures and find out if it’s FDIC-insured to ensure your money is protected.

10 Best Fintech Apps in 2024

1. Revolut – Revolutionizing Money Management

Revolut continues to stand out among the best fintech apps for its comprehensive financial services. With features like budgeting tools, currency exchange, stock trading, and crypto transactions, it epitomizes the flexibility and innovation expected from top fintech apps. The app’s ability to handle multiple currencies effortlessly makes it a favorite for travelers and international users, showcasing its broad appeal as a fintech app example.

Key Features

• Multi-currency account: Hold and manage money in over 30 different currencies
• Fee-free foreign exchange: Spend and transfer money abroad with no hidden fees (limited amount for free transfers).
• Global ATM access: Withdraw cash from ATMs around the world with limited free withdrawals per month.
• International money transfers: Send and receive money internationally with ease and at competitive exchange rates.
• Investment options: Buy and sell stocks, fractional shares, and other investment products through the Revolut app.
• Budgeting tools: Set budgets and track your spending habits within the app.
• Bill splitting: Easily split bills and expenses with friends directly through the app.
• Subscription management: Track and manage all your subscriptions in one place.
• Security features: Secure your account with two-factor authentication and other security measures.

2. Mint – Mastering Personal Finance

Mint is a veteran in the space of fintech apps, renowned for its budgeting and expense tracking capabilities. As one of the best fintech apps, Mint helps users categorize their spending, track bills, and receive personalized insights into their financial habits. This app is perfect for individuals looking to take control of their personal finances with ease and accuracy.

Key Features

• Multi-Currency Accounts: Hold and exchange multiple currencies at real-time rates with low fees.
• Global Spending and ATM Withdrawals: Spend in over 150 currencies and withdraw money internationally with minimal fees.
• Money Management: Set budgets, track expenses, and receive instant spending notifications.
• Cryptocurrency Exchange: Buy, sell, and manage cryptocurrencies directly within the app.
• Stock Trading: Engage in commission-free stock trading, making it accessible for casual investors.
• Savings Vaults: Save money using rounding-up features or by setting aside funds in separate vaults.
• Insurance Options: Access travel and device insurance quickly and conveniently.
• Security Features: Enhanced security with card freezing/unfreezing and virtual cards for safer online shopping.

3. Robinhood – Democratizing Investing

Robinhood makes investing accessible and straightforward, which is why it ranks highly among the top fintech apps. Users can trade stocks, ETFs, options, and cryptocurrencies without paying commissions, a feature that has transformed how new investors approach the stock market. As a fintech apps example, Robinhood is noted for its user-friendly interface and minimalistic design.

Key Features

• Commission-Free Trades: Robinhood allows users to buy and sell stocks, ETFs, options, and cryptocurrencies without commission fees, which is a significant draw for cost-conscious investors.
• User-Friendly Interface: The app is designed with simplicity in mind, making it easy for beginners to navigate and manage their investments.
• No Minimum Balance: Robinhood does not require a minimum account balance, allowing users to start investing with as little or as much money as they choose.
• Robinhood Gold: This premium subscription service offers additional features like professional research reports, Level 2 market data, and margin trading for more advanced traders.
• Instant Deposits: Users can access deposited funds immediately (up to a certain amount) rather than waiting for the typical processing time, which speeds up the ability to trade.
• Cryptocurrency Trading: Beyond traditional stocks, Robinhood users can also trade several major cryptocurrencies, providing a straightforward entry point into the world of crypto.

4. Chime – Simplifying Banking

Chime is a fintech app that functions as a mobile bank. It offers no minimum balance requirements, no monthly fees, and no overdraft fees. Its automatic savings tool and early payday feature through direct deposit make Chime one of the best fintech apps for simple and effective financial management.

Key Features

• Fee-Free Structure: Chime charges no monthly fees, no minimum balance fees, and no overdraft fees, which makes it attractive for those looking to avoid the typical bank charges.
• Early Direct Deposit: Chime offers the ability to receive your paycheck up to two days early when you set up direct deposit, which can help with cash flow management.
• Automatic Savings: Chime’s savings feature automatically rounds up transactions to the nearest dollar and deposits the change into your savings account, plus it allows you to automatically transfer a percentage of every paycheck into savings.
• SpotMe: This feature allows you to overdraw your account on debit card purchases without overdraft fees, up to a limit that starts at $20 and can be increased up to $200.
• No Foreign Transaction Fees: Chime does not charge any fees on foreign transactions, making it a good option for international travelers.

5. Acorns – Investing with Spare Change

Acorns exemplifies innovative fintech apps examples by rounding up your transactions to the nearest dollar and investing the difference. It’s an excellent tool for those new to investing, providing a low-friction entry into the world of stocks and bonds. Acorns is celebrated for making investment a byproduct of everyday spending.

Key Features

• Round-Ups: Automatically invests spare change from everyday transactions by rounding up purchases to the nearest dollar.
• Recurring Investments: Facilitates automatic daily, weekly, or monthly investments to build savings consistently.
• Found Money: Partners with brands to add a percentage of your purchase back into your investment account.
• Acorns Later: Provides an easy setup for IRA accounts, tailoring the right plan based on individual goals.
• Acorns Early: Offers investment accounts for children, helping parents invest in their future from an early age.
• Acorns Spend: Integrates a checking account and debit card that syncs with investment features for real-time round-ups.

> Related: Revolutionizing Risk Management: The Power of Machine Learning in Finance

6. Plaid – Connecting Financial Solutions

While not a consumer-facing app, Plaid is vital in the fintech apps ecosystem. It allows other fintech apps to connect securely with users’ bank accounts, facilitating a smooth and secure data transfer. This capability makes Plaid one of the top fintech apps, empowering countless other financial applications to function effectively. 

Key Features

• Account Integration: Plaid allows users to securely link their bank and financial accounts to various third-party applications, facilitating seamless data transfers.
• Authentication: It simplifies the user verification process by providing instant authentication for bank accounts, which helps in reducing fraud.
• Transaction Data: Plaid can retrieve detailed transaction histories from connected accounts, providing valuable financial insights and helping applications tailor their services to individual user needs.
• Account Balance Checks: The platform offers real-time access to account balances, which helps in managing spending and preventing overdraft fees.
• Asset Verification: This feature supports loan and mortgage applications by quickly and securely verifying borrowers’ assets.

7. Wealthfront – Automated Investment Management

Wealthfront is renowned for its robo-advisor capabilities, making it a leader among fintech apps that focus on automated investment management. With a strong emphasis on low-cost index funds and personalized financial planning, Wealthfront is a top choice for passive investors looking for one of the best fintech apps.

Key Features 

• Automated Investing: Manages diversified portfolios tailored to individual risk tolerance and goals, with automatic rebalancing.
• Tax-Loss Harvesting: Automatically sells losing investments to offset taxes on gains, enhancing after-tax returns.
• PassivePlus Strategy: Advanced investing strategies like stock-level tax-loss harvesting and risk parity to optimize returns.
• Retirement Planning: Offers tools to project financial futures and adjust plans based on life changes.
• College Savings: Provides 529 College Savings Plan with investment options and potential tax advantages.
• High-Interest Cash Account: Offers a cash account with competitive rates, FDIC insurance, and no fees.

8. PayPal – Pioneering Digital Payments

PayPal remains an influential player in the fintech space, making it one of the top fintech apps for digital payments. Known for its ease of use and robust security features, PayPal facilitates seamless transactions across the globe. It’s a great fintech app example for both personal and business financial transactions.

Key Features 

• Send and Receive Money: Users can easily send and receive money to and from friends, family, and businesses almost anywhere in the world.
• Online Payments: PayPal is accepted by millions of online retailers, allowing users to shop online securely without sharing their financial information with merchants.
• PayPal Credit: Offers a line of credit that users can access for purchases, allowing them to buy now and pay later, subject to credit approval.
• Mobile App: A user-friendly mobile app that allows for managing finances, making payments, and checking balances from smartphones.
• Debit and Credit Cards: PayPal offers its own branded debit and credit cards, including a cashback Mastercard that integrates directly with users’ accounts.
• Cryptocurrency: Allows users to buy, sell, and hold cryptocurrencies directly through their PayPal account in a simple and secure manner.

9. Square – Facilitating Business Transactions

Square has revolutionized the way businesses accept payments. Its user-friendly interface and portable hardware options have made it a favorite among small to medium-sized businesses, categorizing it as one of the top fintech apps for business financial management.

Key Features 

• Payment Processing: Square allows businesses to accept credit card payments using a variety of methods; including mobile devices with attached readers, standalone terminals, and online payments.
• Point of Sale (POS) System: Square provides a feature-rich POS system that integrates sales, inventory management, and customer data; suitable for various types of businesses like retail, restaurants, and services.
• Square Online: Enables businesses to create online stores and integrate e-commerce capabilities, including order and inventory management.
• Square Capital: Offers loans to eligible businesses using Square, providing easy access to funding based on the business’s sales through Square, without the lengthy application process typical of traditional loans.
• Payroll Services: Square offers payroll processing services that handle employee payments, tax withholdings, and year-end tax forms.

10. Credit Karma – Monitoring Financial Health

Credit Karma provides users with free credit scores and reports, making it a crucial fintech app for financial monitoring. It also offers insights and suggestions to improve your financial status, positioning it as a valuable tool among the best fintech apps for credit management.

Key Features 

• Free Credit Scores and Reports: Provides users with free access to their credit scores and reports from TransUnion and Equifax, updated weekly.
• Credit Monitoring: Offers free credit monitoring that alerts users to important changes in their credit report, helping to detect potential identity theft early.
• Insights and Recommendations: Analyzes users’ credit profiles to provide personalized recommendations for credit cards, loans, and other financial products that may suit their credit status.
• Credit Score Simulator: Features a simulator tool that allows users to see how certain financial decisions, like paying off debt or opening a new account, might affect their credit score.
• Tax Filing: Offers a free tax filing service that includes support for most IRS forms and common tax situations.
• Loan and Credit Card Comparisons: Helps users compare products like personal loans, auto loans, and credit cards based on their credit information.

Conclusion

The financial technology space is booming with innovation, offering a wealth of options for users. Whether you’re looking for budgeting tools, seamless money transfers, or a platform to invest in cryptocurrency, there’s a fintech app out there to streamline your financial life. And if you’re a financial institution looking to capitalize on the fintech revolution, consider partnering with a leading app development company like AMELA Technology.  AMELA’s team of experts can help you design, develop, and launch a secure and user-friendly fintech app that meets your specific needs and empowers your customers.

Contact us through the following information:

• Hotline: (+84)904026070 
• Email: hello@amela.tech 
• Address: 5th Floor, Tower A, Keangnam Building, Urban Area new E6 Cau Giay, Pham Hung, Me Tri, Nam Tu Liem, Hanoi

Editor: AMELA Technology