Hottest FinTech Services of 2019
Fintech is big news. Reaching over US $55.3 billion in investments in 2019 and estimated to be worth an astonishing $4.7 trillion globally, the fintech economy is revolutionising the financial landscape. But which fintech services have stole the limelight and got us hot under the collar in 2019?
As one of the new fintechs to join the ‘unicorn club’ in 2019, Liquid has certainly been on the radar this year. To start with, a ‘unicorn’ company is a privately held start-up that’s valued at over $1 billion. This is a significant achievement, of course, so why does Liquid stand out from the crowd?
Well, Liquid is a unified, globally sourced trading platform that bridges the world of crypto and fiat. It offers trading, exchange and next-generation financial services powered by blockchain technology, enabling consumers to grow and manage their portfolio from a single dashboard. Other benefits include tight spreads, enhanced liquidity and the option to trade in the quote currency of your choice. Fully compliant, Big 4 audited and regulated by the Japan Financial Services Agency, Liquid is set to continue its success into 2020 and beyond.
Another company on the 2019 ‘unicorn’ start-up list is Checkout.com, a global payment solutions provider. Ideal for future-proofing payments, businesses can use the Unified Payments Platform to manage every stage of the payments process through a single, practical and intuitive solution. With built-in regulatory compliance, fast processing speeds, an intelligent fraud solution and total data transparency, Checkout.com is proving to be a hot choice for international enterprises.
Reporting a 354% revenue growth from 2017 to 2018, London-based financial platform, Revolut, shows no sign of slowing down, with the company’s growth for 2019 predicted to be three times that of 2018. Such success is being attributed to customer growth, new product launches, optimisation of existing products and market, with 800,000 new customers joining Revolut between August and September 2019.
Popular Revolut services to-date include, access to a prepaid debit card, fee free currency exchange, commission-free stock trading, cryptocurrency exchange and peer-to-peer payments. Subscription packaged for Premium and Metal services have also increased 550% since January 2018.
Specialising in financial process automation for small businesses and mid-size companies (SMEs), Bill.com makes it easier than ever to streamline and reinvent your back office. From creating and paying bills to sending invoice and receiving payments, this is a fintech that’s left no stone unturned. Bill.com is proving popular and has become a unicorn company this year due to its time-saving functionalities and intuitive, consumer-friendly design.
Further highlights include a simple integrated platform which makes it possible to connect payment accounts and accounting tools. Machine learning assists with data entry and duplicate invoice detection while cloud collaboration ensures you can work with your team efficiently in real-time. Payment options also include ACH, virtual cards and international wire transfers.
Fintech has made financial services slicker, more reliable, more secure and safer with the above companies have made significant progress in 2019. Watch this space for 2020 developments.