Top 10 Fintech Apps in the USA

Looking for the top Fintech apps in the USA to manage your finances? We’ve got your back. In this blog, we will review the best fintech mobile apps that are booming in 2023. 

The Fintech industry originated in the 1950s with the introduction of the credit cards. Soon after, the introduction of ATM in the 1960s and various other innovations along the way paved the way for the fintech industry. 

However, the introduction of the Internet was the biggest factor that triggered a worldwide revolution in the Fintech industry. Nowadays, there are several online fintech apps that allow users to manage both personal and marketable finances. Today, Fintech has definitely made its space in the digital world and with the use of advanced technologies, it will only mature in the future. 

After the adoption of smartphones, fintech applications became common among people looking for on-the-go financial services. Then, with the advent of the age of startups, with a craving for novelty between consumers and investors, the fintech industry exploded with innovative services and financial products. 

Let’s take a look at the best fintech mobile apps you should definitely know about. 

Best Fintech Apps in the USA

Here is our list of the top 10 fintech apps in 2023. 

1. Mint

Platforms: Android & iOS

Renowned as one of the best fintech apps to collect consumer information like account details, transactions, credit scores, and more. This app allows you to pay bills, track your expenses and transactions, and even allows a budgeting option to help you save. Moreover, you can also set up reminders to pay your bills and provide advice based on spending trends. When it comes to security, Mint has one of the most robust encryptions among Fintech apps. 

Features of Mint App

• Manages expenditures and bills
• Budget-based suggestions tailored to your spending habits
• Free credit score analysis
• Secured and easy user onboarding

Advantages of the Mint App

• Instant alerts about pending bills and unexpected account activities.
• The app includes simple-to-download transactions
• Customisable income and spending categories
• Get the price value of your assets like cars, homes, and other tangible assets. 

Disadvantages of the Mint App

• Doesn’t support multi-currency transactions
• Cannot allocate multiple saving targets to a single account
• Only works with financial institutions in the United States or Canada

2. MoneyLion

Platforms: Android & iOS

MoneyLion is one of the top fintech apps that was released in 2013 with the aim of meeting the financial demand of its users by offering affordable financial services. This is the go-to app for users looking for financial advice and loans. It uses a subscription-based model and also includes setting up your bank account. Users can use the MoneyLion app to invest money, establish credit, get loans, or manage their daily banking activities. This fintech application is available on the Android & iOS platforms but is mainly aimed at younger audiences. 

Features of the MoneyLion App

• Instant transfers with no checking fee
• Direct deposit for APR cash advances
• Cashback rewards of more than 12%
• Track your credit score
• Real-time notifications of spending

Advantages of the MoneyLion App

• One-stop-shop to borrow, invest, and save money
• Effortless loan process
• Receive cashbacks on every transaction
• Free membership with access to all services

Disadvantages of the MoneyLion App

• Limited investment opportunities
• The pricing of the app is feature-based and is determined by whether a user wants the Core or Credit Builder Plus subscription. 

3. Robinhood

Platforms: Android & iOS

Named by a pop-culture reference, Robinhood is a fairly new fintech application available for free. While being a new company, it has grown tremendously in popularity because of its user-friendly trading software, which offers lower costs and simplifies trading for beginner investors. 

Robinhood is a suitable platform for investors who are just starting and are not familiar with the nuances of Fintech applications. With this app, users can trade stocks, indices, and cryptocurrencies at zero commission charges. The best feature of this app is that it is integrated with over 3,500 banks in the United States, providing an effortless trading experience. 

Features of the Robinhood App

• Offers multiple investment preferences
• Real-time market data analysis
• Cash management tools
• No trading commissions

Advantages of the Robinhood App

• Quick and simple process to open digital accounts
• Zero fee on stock trading and ETFs
• Integration of over 3,500 US banks allows for easy management of bank accounts
• Supports the mobile and the web platforms. 

Disadvantages of the Robinhood App

• Limited access to instruction material
• Lack of customer support and limited product selection

4. Chime

Platforms: Android & iOS

If you are looking for the best fintech app in the USA, Chime is another string competitor in this list. This application offers a basic package, including a protected credit card, one checking account, and one savings account that you can easily access and manage through the FinTech mobile app. One useful feature of the application is that it immediately deducts 10% of the amount credited to your account and transfers it straight to your savings account. Moreover, it charges zero transaction fees and offers free ATMs across the country. 

Features of the Chime App

• Deposit straight to your Chime account
• No monthly or hidden costs
• Send money to friends and family without incurring any additional costs
• Cheques can be deposited instantly

Advantages of the Chime App

• It charges a simple ATM fee and provides access to over 38,000 ATMs across the country.
• Offers swift and secure payments when compared to traditional banking
• Encourages saving by deducting 10% of the credited amount and transferring it to your savings account
• Offers assistance and services 24x7

Disadvantages of the Chime App

• The savings account offers very little interest
• Restricts the amount of money you can withdraw from the savings account

5. Nubank

Nubank is renowned as the world’s largest online bank and has over 40 million customers in Brazil, Mexico, and Colombia combined. Originally launched in 2014 in Brazil, Nubank rose to become one of the top fintech apps as it offered a credit card with no extra fee within two days of submitting the application. 

However, Nubank doesn’t just provide credit cards. Customers also get access to free business and personal accounts along with quick and seamless transactions. It currently ranks as the sixth-largest financial institution with over 12 million customers in its regional market. 

Features of the Nubank App

• Users can save easily with this top fintech app
• Credit cards with no annuities offered by Nubank are accepted globally
• Access to a rewards point program
• Informative and insightful content and blogs

Advantages of the Nubank App

• Zero transaction fee with unlimited TED
• Credit cards are accepted internationally
• Easy to use and user-friendly interface

Disadvantages of the Nubank App

• Every cash withdrawal incurs a fixed cost
• The software logs out the user on exiting the application

6. Revolut

Platforms: Android & iOS

Recognised as one of the best Fintech apps in London, Revolut offers financial services like prepaid debit cards, currency exchange, peer-to-peer payments, and cryptocurrency exchange. One of the app’s best features is the ability to send money in over 25 currencies and withdraw in over 120 currencies globally. When it comes to cryptocurrencies, it supports Bitcoin, Litecoin, Bitcoin Cash, Ethereum, and more. 

Moreover, Revolut is valued at $33 billion and is growing rapidly. The company has secured over $800 million in Series E Fintech investment apps to develop a cutting-edge super app for its customers. 

Features of the Revolut App

• Spending notification prompts after each payment
• Create a monthly budget for groceries, utilities and more to simplify finance management. 
• Offers International travel insurance
• Split the bill with friends and family

Advantages of the Revolut App

• No cost account creation and maintenance
• Offers multi-currency support
• Offers advanced Fintech app features like cryptocurrency trading and more
• Premium subscription with additional benefits

Disadvantages of the Revolut App

• Although the app has a banking license, there is no currency account facility available
• Subpar customer service

7. Coinbase

Platforms: Android & iOS

Coinbase is one of the best Fintech apps for solely one reason. It is a testament to the usefulness of the Blockchain technology. It is ranked as one of the most popular Fintech apps and bitcoin exchanges in the United States. Moreover, Coinbase also allows its users to purchase and trade a wide range of cryptocurrencies while tracking them in a single application. 

It has over 89 million customers across 100 countries. One of the best features of Coinbase is that over 98% of the bitcoin is secured offline, while the remainder is protected by cutting-edge internet security algorithms. 

Features of the Coinbase App

• Easily manage your portfolio
• Invest in cryptocurrencies in real-time
• Safety of a vault with timely withdrawals

Advantages of the Coinbase App

• The app allows real-time transactions between members of Coinbase
• Offers secure Bitcoin deposits
• The top fintech app offers 2FA and multi-authenticating security features to provide unauthorized access
• Offers online and mobile wallet services.

Disadvantages of the Coinbase App

• No user anonymity as the app offers delayed support and incessant account monitoring
• Three-day delay in deposits and withdrawals
• No support for cryptocurrencies

8. N26

Platforms: Android & iOS

Based in Berlin, Germany, N26 allows users to have total control over their funds. It offers clear and concise money management solutions to help them spend wisely while also saving more. Moreover, it also offers two zero-fee ATM transactions each month.

Along with high-end financial services, users can also use the N26 fintech application to initiate instant money transfers and get insights into their spending strategies. 

Features of the N26 App

• Instant money transfers via MoneyBeam
• Automatic generation of expenditure figures
• Enhanced account security with face and fingerprint recognition
• Establish and achieve financial goals with the help of the Spaces feature

Advantages of the N26 App

• The fintech app has a legal banking license
• Zero charges for opening and maintaining an account 
• Premium subscription with additional perks

Disadvantages of the N26 App

• Only supports one currency
• No phone support and poor chat support
• Lacks budgeting and saving functions when compared to its competitors

9. Finch

Platforms: Android & iOS

If you are looking for one of the best Fintech apps for GenZ and young professionals, your search ends with Finch. This app was specifically designed for today’s youth who always have their smartphones in their hand and aims at making finance more easier and social. It even allows users to send and receive money without providing any bank details. 

Moreover, Finch also allows its customers to track expenses, split bills, and more. It is a one-stop shop for young professionals to manage their finances, spending habits, and investments. 

Features of the Finch App

• Allows personal finance for users
• Expense tracking and segmentation
• Offers social spending insights
• Make instant payments to friends
• Easy to use and flexible interface
• Create and customize savings goal

Advantages of the Finch App

• Wide range of finance management tools
• Offers financial and budget statistics
• Available for free
• Special social spending features

Disadvantages of the Finch App

• Specifically designed for young users
• Limited investment options

10. SoFi

Platforms: Android & iOS

SoFi(Social Financial) is one of the top fintech apps in the market and a renowned digital platform. One of the major focuses of this app is loans specifically student loans. It effectively targets the younger audience in its marketing campaign and works to assist consumers in making solid financial decisions. 

The app helps users make better decisions regarding borrowing, saving, spending, investing, and more, allowing them to reach financial independence and accomplish their goals. 

Features of the SoFi App

• Offers individual savings account and access to three different investing platforms(automated, active, and digital assets)
• Offers five different types of investment portfolios.
• Provides a ton of services including cryptocurrency exchange, money tracking, loans, and cashbacks. 

Advantages of the SoFi App

• Charges no management fee
• High savings rates
• Access to human financial advisors

Disadvantages of the SoFi App

• No tax loss harvesting
• Some forms of loans are not accessible in all states

Benefits of Using Fintech Apps

Over the years, the top Fintech apps have revolutionized the financial industry by offering financial services seamlessly to users. Fintech apps have become an integral part of managing finances for both individuals and companies. Here are some of the benefits of using Fintech apps. 

Enhanced Convenience

One of the best perks of Fintech apps is the added convenience and accessibility they provide. It allows users to access their accounts and perform transactions seamlessly from any location, at any time. If you are using a Fintech mobile app, the whole bank is at your fingertips, providing on-the-go financial services that are secured. 

Cost-Effective

Cost-effective is another major benefit of using Fintech apps. By eliminating the need for a traditional offline establishment, Fintech apps can utilise that money to offer competitive rates and reduced fees to their users. 

Improvised Financial Inclusion

Fintech apps enhance financial inclusion by allowing underbanked and unbanked individuals to access financial services. These apps allow certain individuals to access financial services without relying on traditional banking institutions. 

Personalized Financial Services

Fintech apps are specifically designed to provide personalized services to their users. By using technologies like pattern recognition and advanced data analytics, Fintech apps offer tailored investment advice, budgeting tools, and more. 

Final Words

We have reviewed the top Fintech apps in the market in 2023. Most of the apps listed here rose to prominence in a short span. However, the finance industry is quickly embracing technology and the Fintech industry is showing no signs of slowing down. 

Financial technology is deeply rooted in our daily lives and has become an essential component of how we manage our finances. If you are looking for the best Fintech apps in the USA, we hope our blog will provide you with some clarity. However, make sure to choose the best option that fits you well according to your financial situation. 

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