2020 was a year of change in all industries, but especially in the fintech space. Many newcomers came into the industry promising the next best way to handle your money whether banking, making payments, or investing.
Here are the 4 best UK fintech newcomers for 2020.
Primer is a UK fintech startup helping merchants consolidate their payment options while offering more to their customers. Primer was founded by ex-PayPal employees, so it already has the primer of knowledge and experience behind it.
Primer makes it easy for merchants to adopt new payment options even as they become available on the market. The ‘low code’ platform makes it easy to use and understand, allowing merchants of all sizes to branch out and bring in new customers with its payment options.
Investing is scary, especially when there’s little information available about the companies you’re investing in. Tumelo realised this pain point and helps investors understand their options and make more socially responsible investments.
Tumelo isn’t an investment platform itself, but it offers investment platforms and pension providers more transparency to give their clients. Tumelo offers insight into a company’s social responsibility giving clients more transparency and empowering them to make better investment decisions.
Cleo is an AI chatbot that helps you manage your money. Put the days of uncomfortable conversations with a human advisor behind you and let the power of AI help.
Cleo links with your bank account and tracks your spending. It guides you in certain financial decisions and sometimes even makes a game out of it. There aren’t any humans involved so you don’t have to worry about feeling judged or embarrassed about your financial decisions.
Instead, you’ll have the power of AI helping you realise yourself the changes you need to make to improve your finances in 2021.
Zilch is a virtual credit card that you can use to ‘buy now, pay later.’ Any purchases you make with their plastic-free credit card is split into 4 payments over a 6-week period. They charge zero interest and there are zero fees – hence the name ‘Zilch.’
You select the store you’ll buy from, activate the card for your chosen store, and make your purchase. You pay 25% at checkout and the remaining 75% over the course of 6 weeks with a payment made every 2 weeks.
Fintech Changes the Way We Do Finances
Fintech is quickly changing the way we deal with money. Whether it’s banking, investing, or making payments, there are options out there to make our lives easier or more affordable. 2020 was a year that shook most of us up financially, so the fintech startups are a welcome opportunity to get back on our feet and manage our finances responsibly.
If you haven’t tried any of the new fintech startups, you may be missing out. Whether it’s more transparency, easier banking tasks, or a way to make shopping more affordable as you get back on your feet – there are many opportunities out there for you today.