The last several years have seen a massive increase in fintech technology apps and development. This allows for a global reach in personal financial services for any online user.

Mobile apps have made life easier for digital users and given us access to online services and feature 24 hrs a day from anywhere in the world, unlike brick-and-mortar banks that are limited to geographic location and country regulations. This leads us to ask if mobile financial apps benefit users’ everyday lives or if they are just a passing novelty that won’t outlive traditional banking and financial services.

What is the best way to grow your money in a digital world?

Fintech mobile apps offer users many services and features like investing in funds and buying digital currency or saving for personal goals, along with simplified processes. This technology mainly caters for a generic end-user and is suitable for supplementing wealth. However, a financial consultant is still the best way to achieve a personalised plan to grow your money and build wealth.

Benefits of Fintech apps

• Offers borderless banking and credit through mobile apps
• A fintech app offers mobile users 24hr access 
• A mobile app helps with the management of monthly finance and keeps track of payments through payment alerts
• Allows investment in funds and company stocks
• Monthly or once-off payments can be made into your savings or investment account
• Withdraw your money whenever you need it – not tied down
• Usually features a free debit card for purchases if a savings account app
• Fintech apps feature lower fees than a traditional bank account
• Buy digital or cryptocurrency on your mobile app
• Greater transparency
• Simplifies investing for beginner fintech users wanting to grow their financial portfolio
• Fintech even offer company savings and transaction accounts

Financial technology (Fintech) apps have simplified personal finance and are one of the best ways to supplement your savings and wealth investments. Although apps are convenient and simplify saving, they are generic and for general use. If you need personalised financial advice,  chat with your financial advisor to help you choose the best mobile financial apps that suit your individual savings style.

deVere offers digital users several fintech solutions depending on their financial needs. 

Catalyst is a low-cost fintech savings app where you can invest money whenever you have spare cash to grow your personal financial portfolio. deVere Crypto is a mobile app that features purchasing and storing cryptocurrencies in a crypto wallet.

 

Please note the above is for educational purposes only and does not constitute advice. You should always contact your deVere advisor for a personal consultation.

* No liability can be accepted for any actions taken or refrained from being taken as a result of reading the above.