8 Best Fintech Apps in 2020: Popular Fintech App Features + Estimated Finance App Development Cost

fintech mobile apps

Are you running a fintech startup or fintech company or planning to launch a finance app? Being a fintech app development company, we have curated the best fintech apps of 2020 that are doing wonderfully well despite heavy competition in the finance industry. So, if you are planning to develop a money transfer, mobile payment and invoices app, fundraising, asset management, stock market or any kind of online banking app, online payment method, you must have a look at the best fintech apps.


Recently, there has been an upliftment in the Fintech Ecosystem. Fintech companies like MoneyLion, Robinhood, Nubank are raising money with some eye-opening figures. This signifies an excellent growth of mobile-only banks and the digital payment method. If you are aiming to be the next “fintech future” for the Gen Z, divide the finance app segment into three major parts. This will help in figuring out which genre is your app falling.

Types of fintech apps 

  • There are mobile banking apps for money transfers, bill payments, invoices, expense trackers, omitting the bureaucracy of the banks.
  • Finance apps are created for stock trading, loans, savings, financial advice that allow users to generate profits in the stock market.
  • Blockchain and bitcoin, payment gateway integration apps.

The given bifurcation shows the best fintech apps in the fintech ecosystem that have managed to provide apt online banking services to the app users.

Types of Fintech Apps

Fintech Ecosystem

Now, let’s dive into the best fintech apps that are currently doing exceptionally well and also are a great example of budgeting tools for you fintech companies, to understand their offerings, subscriptions, and features before developing your own finance mobile app solution.

8 Best Fintech Apps 2020 to Look Before Developing Finance & Banking App

Before taking a plunge into the detailed description of best fintech apps, let’s have a quick look at the top 8 fintech app table with their origin countries. We have curated fintech investments according to Crunchbase in the below given scannable table.

Sr NoTop Fintech AppsTotal FundingCountryPlay Store LinkApp Store Link
1MoneyLion$227.5mUSAPlay storeApp store
2Robinhood$912mUSAPlay storeApp store
3Chime$808.8mUSAPlay storeApp store
4Nubank$1.1bBrazilPlay storeApp store
5Mint$140mUSAPlay storeApp store
6Revoult$336.9mUKPlay storeApp store
7Coinbase$217mUSAPlay storeApp store
8N26$682.8mGermanyPlay storeApp store

1. MoneyLion

Country: USA
Current Value: $ 1 billion

This US-based mobile banking app provides its users with financial advice and access to loans. The six year-old startup is a personal finance app that operates as a part of lending, part savings, and part wealth management app. According to the latest news, this fintech startup is close to becoming “unicorn” for the finance industry. It has raised $100million Series C round led by Edison Partners & Green Spring Associates. With this, the startup is currently valued at $1billion.

How MoneyLion makes money?

  • The startup makes money from app subscriptions that cost $19.99 per month to each user and helps their bank accounts well in advance.

How MoneyLion is different from other Fintech apps?

  • It provides efficient online banking service across 55000 fee-free ATMs.
  • MoneyLion app also has a 5.99% APR loan to keep savings progress on track. This facility is specifically for MoneyLion Plus members.

best fintech apps

Image Credit: MoneyLion

Top Features of the MoneyLion app

  • Instant transfer and zero-fee checking
  • Direct deposit to avail APR cash advances
  • 12% cashback rewards
  • Track the credit score
  • Real-time notifications for spendings

Before moving on to the next mobile banking app, let’s have a look at the pros and cons of MoneyLion which will help you to improve your app development process

  • Save, invest, borrow at the same place
  • Easy to access loans
  • Every user gets a cashback on purchases
  • Membership offers every possible facility free of charge
Moneylion Cons

2. Robinhood

Country: USA
Current Value: $7.6billion

Robinhood app is an online brokerage industry disruption. The Menlo Park, US-based free stock trading app, allows users to invest in public companies and exchange-traded funds listed on the US stock exchanges. The app has its own clearing system and no commission fees investment in stocks, ETFs, cryptocurrencies. According to the latest news from Techcrunch Robinhood, trading app has raised Series round of $323million led by DST Global. The business is now valued at $7.6billion up from its Series D valuation of more than $5billion.

How Robinhood is different from other Fintech apps?

  • The stock investment app is a member of SIPC, which protects securities customers of its members upto $5,00,000.
  • Robinhood app integrates with 3500 banks including Chase, Wells Fargo, and Bank of America.

personal finance app

Image Credit: Robinhood

Top Features of Robinhood app

  • List of investment options
  • Real-time market data analysis
  • Cash management tools
  • No-commission trading

Have a look at the Robinhood app’s pros and cons which might give your mobile banking app a better perspective and idea.

  • Fast and easy digital account opening
  • Free stock and ETF trading
  • Multiple integrations for bank deposits which also helps in managing bank accounts.
  • It supports mobile and web platforms
Robinhood Cons

3. Chime

Country- USA

The Chime app is growing fast in the U.S.A as a mobile-only bank. It allows users to manage their spending and saving accounts with no hidden transaction fees. It is one of the best budgeting tools that allow users for multiple automatic saving options. Its large free ATM networking makes it the most convenient mobile app for banking.

How Chime is different from other Fintech apps?

  • The money saving app prioritizes savings by automatically deducting 10% of the paycheck and directly deposit that amount in the savings account.
  • A user can access his paycheck 2 days earlier with direct deposit through Chime.
  • It provides efficient online banking service over 30,000 fee-free Moneypass ATMs.
  • The mobile app for banking facilitates with no minimum balance, no overdraft, real-time transaction notification, sending money to family & friends.

Top fintech apps

Image Credit:Chime

Top Features of Chime app

  • Deposit directly to Chime account and get paid early
  • No hidden fees or monthly fees
  • Send money to family & friends with a free-fee mobile payment
  • Deposit instant checks
  • Support mobile payment apps

Before ending this app, dive into its pros and cons which will help you in better comparison with other neo-banks.

  • The app only charges the ATM fees (access to over 38,000 ATMs)
  • It allow users for easy direct deposit or transfer (two days prior than the traditional banking)
  • Save automatically both when you spend and when you get paid
Chime Cons

4. Nubank

Country- Brazil
Current Value- over $10million

The online banking application, Nubank, is a Brazil-based fintech app. It becomes one of the best fintech apps by providing access to invoices and tracking spending by category to deleting purchases with Nubank Reward points earned. It gives real-time information about Credit cards, saving balance, and Nubank rewards. According to the recent news, the company has raised $400million Series F round of venture capital led by Woody Marshall of TCV. 

  • Nubank is considered as the sixth-largest financial institution by reaching 12million users within its home market.
  • The Wall Street Journal reported that the company has secured valuation over $10billion, potentially making it one of a shortlist of startup decacorns.  

 fintech mobile apps

Image Credit: Nubank

Top Features of Nubank app

  • Savings at user disposal
  • No-annuity credit card accepted worldwide
  • Rewarding point program
  • Informative blogs

Understand the Nubank better with these pros and cons.

  • No transaction fees with unlimited TED
  • Credit cards are accepted worldwide with no annuity
  • Simple and easy user interface
Nubank Cons

5. Mint

Country- USA

Mint app is the most successful fintech app based in the U.S.A. when it comes to collecting relevant information about a user’s card, accounts, and transactions. The notification alerts remind users about the bills to pay, offers advice based on spending patterns. This helps an individual to be on top of his finances and thus provides the banking industry with the best payment services. All data is encrypted with 256-bit encryption and the data exchanged with Mint is encrypted with 128-bit SSL.

 fintech apps

Image Credit: Mint

Top Features of Mint app

  • Manage bills and balances 
  • Create a budget and see the suggestions based on individual spending
  • Free credit score analysis with tips
  • Secured sign-up

Before ending this app, dive into its pros and cons which will help you in better comparison with other neo-banks.

  • Notification alert related to financial summaries, unusual account activity
  • The app comes with easily downloadable transactions
  • The user can easily customize income and spending categories
  • Get the accurate net worth of cars, homes, and other physical assets
Mint Cons

6. Revoult

Country- UK

The London-based startup offers banking services including a prepaid debit card, currency exchange, cryptocurrency exchange, and peer-to-peer payments. The finance management app allow users to spend and send money in an easy way with real-exchange rates which makes it the apt fintech space. The company is assumed to surge $10bn ($8bn) in the coming years as finance startups hit grow extraordinary growth trajectories to challenge the US giants. It is planning to raise $500m this year from investors and has accumulated 6 million users in just four years. 

How Revolut is different from other Fintech apps?

  • The budgeting app supports spending and ATM withdrawals in 120 currencies and sending in 29 currencies directly from mobile banking.
  • The customers are allowed to access to cryptocurrencies such as Bitcoin, Ethereum, Litecoin, Bitcoin Cash, bitcoin trial and XRP by exchanging to or from 25 fiat currencies. 

top fintech apps

Image Credit: Revolut

Top Features of Revolut app

  • Instant spending notification after every card payment
  • Create a monthly budget for restaurants, groceries, transport that allows them in managing personal finance.
  • Overseas travel insurance 
  • Split the bill with friends and family calculations will be taken care in the app

Understand the Revolut app better with these pros and cons.

  • Account opening and maintaining is free (no top-up or hidden fees for transactions)
  • The app can hold several currencies
  • It has advanced features like crypto-trading, disposable virtual cards
  • Premium subscription with handy perks
Revolut Cons

7. Coinbase

Country- USA

Blockchain is becoming a trending technology in the fintech industry, so users are helped to navigate the blockchain and cryptocurrency world. Coinbase app is the largest cryptocurrency exchange based in the U.S.A. The app buys and sells popular digital currencies, and keeps track of them in one place. It allows investing in currencies over time by scheduling buys daily, weekly, or monthly. The vast majority of digital assets are secured through offline storage.

  • It is the best investment app with over 25million users across 32 countries worldwide.
  • Over 98% of cryptocurrency is secured offline and the rest is protected by industry-leading online security.

app for finance

Image Credit: Coinbase

Top Features of Coinbase app

  • Manage portfolio
  • Invest in real-time buying selling
  • Vault protection with time-delayed withdrawals

Have a look at these pros and cons for better competitive analysis.

  • The app facilitates instant transfers between Coinbase users
  • It ensures Bitcoin deposit
  • The finance app has 2FA and multi-signature security option to avoid unauthorized frauds
  • It provides users with online and mobile wallet services
Coinbase Cons

8. N26

Country- Berlin
Current Value- $2.7billion

This Berlin-based finance management app facilitates with fast, flexible, and transparent money management tools to control finances. It allows two free nationwide ATM withdrawals per month. Recently, N26 has raised $300 million in a Series D round led by Insight Venture Partners with Singapore’s sovereign wealth fund GIC and a few existing investors. The company is now valued at $2.7billion, it overtook Revolut as the most valuable mobile bank in Europe.

  • N26 has been featured in TechCrunch, WIRED, and Forbes and boasts over 65,000 five-star reviews worldwide.

finance app

Image Credit: N26

Top Features of N26 app

  • Instant money transfer with MoenyBeam
  • Automatic generation of spending statistics
  • Account security with face or fingertip recognition
  • Organize and achieve financial goals with Spaces

Understand the N26 app with pros and cons.

  • The app has a banking license
  • There are no monthly charges or top-up charges for maintaining and opening an account
  • A user can avail premium subscription with handy perks
N26 Cons

After studying the best fintech apps of the financial app world, let’s look at some common finance features that you should consider for your online banking app development.

Key Features Every Finance App Should Consider for App Development

1. Secured sign-up

The most important and the first feature which will decide the fate of your fintech app is security. It starts from the sign-up stage, where the users need assurance that the app is securing their financial information. It can be through unique code generation, facial identification, fingertip recognition, one-time message to the affiliated smartphone, mail alerts every time a user signs up through the app.

2. Real-time notification

Without opening the banking app, the user should come to know every update of his finances as well as finance industry news. The instant spending notifications, investment notifications, bill payment notifications increase the credibility and gradual user engagement growth of the app.

3. Budget organization and analysis

The budget organization helps users to show the actual finance spending they have in a month or a year. The analysis shows them the actual spent from the budgeted amount and how can they cut their expenses with some alternative. 

4. Instant money transfer to friends & family

With this feature, you can grab more engagement in your app through the user. The instant money transfer makes the life of a user and their loved ones much easier. Thus, provide your user with no-commission, no-fees, transfer.

5. Investment advise and scheduled investing goals

Through notifications, you can suggest an apt plan for investment to your users. Investment decisions should be at their disposal through a scheduling option. It can be weekly, monthly, quarterly as per individual spending is concerned. Thus, this will increase the goodwill of your finance app.

Apart from these features, there are some must-have features listed by one of our mobile app developers at Space-O Technologies who has an experience of over 8 years in developing apps.                                 

 Features of Fintech Apps

Sr NoPopular Features of
Fintech Apps
Approx Dev. Hours
1Instant transfers24 Hrs
2Fingerprint login1 Hr
3Mobile P2P send36 Hrs
4Mobile photo bill pay24 Hrs
5Add a new payee8 Hrs
6Use phone ATM12 Hrs
7Set spending limits8 Hrs
8Face detection5 Hrs
9Compare spending4 Hrs
10Voice banking app40 Hrs
11Chatbot in messaging60 Hrs
12Add profile photo/avatar4 Hrs
13Mobile payment app integration10 Hrs
14Push notification10 Hrs
Subtotal246 Hrs

If you are planning to integrate these features into your finance and banking app, to make your life easier here is how you can calculate the finance app development cost.

Estimated Cost for Developing a Finance App

The app development cost is majorly based on which platform are you opting for and the hourly rate of the mobile application developer. For more clear idea, we have prepared a formula which will give you a rough estimation for your app.

Suppose that the mobile app development company is charging $30 per hour.

Apply this simple formula to know the cost of creating the best app.

Estimated Development Hours * Developer’s Hourly Cost = Total Mobile App Development Cost

Now, after calculating the approximate cost, we are sure you are clear about how much to invest in your app development. With the offerings of fintech world, savings and investing options ranging from digital piggy banks to trading in cryptocurrencies, there are many investors eyeing on this sector.

So, why are these huge investments taking place in the fintech apps?

There can be possibly two answers for this kind of trending investment in the finance sector. 

  • Higher Returns (for profit generation and user engagement)
  • Diversified portfolio (to expand their business in other genres)

With the diversified offerings in the finance space, investors are looking at getting the fundamentals right like profitability, unit-level of economics, customer acquisition cost. Recent fintech companies like Robinhood has doubled its customer in the past one year to more than 6 million and newcomer, Stash, debuts the list with 3 million users- 80% of which are first-time investors. 

Increased user engagement indicates more profitability which is accompanied by growth in customer acquisition cost and market economics for the investor’s business. Thus, the finance segment offerings are making investors keen to dive in and earn some breathtaking returns.

If you are having any second thoughts on developing, discuss your mobile banking app idea with our app consultants. You will also get an idea about the current market trends, stock market, bitcoin cash, and other saving accounts in-app tactic.

Fintech Industry Size 2019-2020

  • According to recent statistics from Fintechauscensus, they conducted a case study on six adaptive  like Australia, Canada, Hong Kong, Singapore, the UK, the US who have surged from 16% in 2015 to 31% in 2017, to 60% in 2019. Thus the fintech industry is an ever-growing platform.

finance app development

  • There is a stable growth when we see online finance services like money transfers and payments, savings and investments, insurance, borrowing. Herein there is a comparison of fintech categories ranked by adoption rate from 2015 to 2109.

fintech categories ranked by adoption rate from 2015-2019

  • According to statista, in 2018, almost 75 percent of Millennials in the U.S. used digital banking, which is set to rise to 77.6 percent by 2022. This, in turn, opens up more opportunities for online finance service.

Frequently Asked Questions for Fintech Apps

1. What is fintech company?

Fintech is a combination of “finance” and “technology.” Now people are no longer walking into a bank and requesting to check the balance. People are wanting to check the information in real-time on their smartphones.
Through fintech apps, fintech companies provide consumers to go online and see their financial transactions. And also allows them to pay their friends to tools that allow financial institutions to make quick lending decisions are all part of the evolution of financial services and it is also a revolution for fintech industry.

2. What are the examples of fintech?

Here are the best fintech examples that clearly stated how is fintech being used in the finance industry.
1. Crowdfunding: It is a virtual fundraising network that enables users to receive or send money via apps. They enable businesses or individuals to conveniently use one location to pool funding from various sources. It is possible for startups to reach out to investors for support rather than going to a traditional bank. It is also known as a p2p funding platform.
2. Mobile payments: Nowadays the exchange of money and online payment with a smartphone user has emerged to be some form of mobile payment. According to a recent report from statista, the global payment market has surpassed $1 trillion in 2019. There are top fintech apps like Venmo that has made a lot of difference in the fintech economy.
3. Blockchain and Cryptocurrency: Financial transactions have become faster and more secure. Some cryptocurrency trading platforms like Coinbase, Robinhood, have reduced costs, faster transactions, enhanced efficiency, better traceability, improved security, and increased transparency.
4. Personal finance apps: Before the consumers had to create their own budgets, navigate excel spreadsheets to keep a track of their finances. But, after the financial revolution, the finance service apps, best finance tracker apps, have efficiently kept track of the user’s income, expense, and other budgeting needs. There are fintech applications like Wally, Acorns, Intuit, that are providing financial services at its best.
5. Stock trading and Robo advice: The customers are able to seek financial advisors more efficiently and at a lower cost for stock market. They tailor investment plans to the respondents’ unique attributes, including age, risk tolerance, current debt, personal assets, and such. Apps like Vanguard, Robinhood, are best fintech apps of stock trading and robo advice.
6. Insurance: Finance app developments have impacted the insurance industry by improving efficiency, reducing costs, improving risk assessment, and delivering better customer experience. Root Insurance, Policy Genius, wherein consumers are able to better compare quotes and select which insurance suits their needs.

3. How much is fintech worth?

The global fintech market was valued at $127.66 billion and is expected to grow to $309.98 billion at an annual growth rate of 24.8% through 2022. Fintech has made payments for goods and services faster, easier, more convenient and cost-efficient for customers. Fintech has become the B2C focus, including business models, consumer views, and blockchain technology.

4. What is the best finance app?

There are many branches of the finance service sector, thus, the best finance app in each of them are as follows:

  • Mint: Best Money Management App
  • Wally: Best Tracking Expenses App
  • Acorns: Best App for Easy Saving
  • Robinhood: Stock trading and Robo advice app
  • Venmo: Mobile Payment App
  • You Need a Budget: Best Debt App

If you are planning to develop finance app, you should definitely study the features and functionalities of these applications.

5. Are money tracking apps safe?

There are best banking apps like Mint, YNAB, that are protecting their user’s valuable information through blockchain technology as well as “read-only” access- meaning they can see financial activity but cannot make changes like transfer money without any consent. If you are planning to be among the best apps in the world, online users security is a must. Make sure, your app shows every purchase, bills, but not any of the bank login data. So, in any case, if your fintech application is hacked, he will not be able to hack the actual users’ bank accounts.

Wrapping Up

After going through the best finance apps guide,  we assume you must have theoretically made the application, ready to launch. A mere idea is not what makes app successful, constant updates with current technological opportunity & market trends will let you stay a long time in this hyper-competitive app world.

So, cross-verify your app ideas with us as we are one of the leading mobile application development companies based in India, Canada, and the USA. We provide the best iOS app development services along with Android & Web solutions. We have developed mobile apps for different categories. Have a look at ftcash and PayNow for Stripe apps to have a clear idea. For a more versatile look at our work, you can visit “our work” section on our website.

If still not satisfied then use these apps and test them to know our skills, until you feel we are the best choice when it comes to developing fintech apps.

In any case, if you have any queries related to the exact cost of fintech app development, app development timeline of finance apps, best fintech apps design, how do fintech apps make money, get in touch with us through our contact us form. One of our sales representatives will guide you through it. He will not only clear your doubts or queries but also help you to understand the development process of finance apps. The initial consultation with our representative won’t cost you any money.

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This page was last edited on September 24th, 2020, at 3:23.


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