The 17 coolest fintech products that will make your life better
The future of finance has arrived, and it's seriously awesome.
Finance is not traditionally a cool topic. When you catch up with friends you're not discussing your super providers (no matter how much those superannuation ads make it seem so). But there are some seriously cool products coming onto the market because of the innovation sensation that's taking place in the form of fintech (financial technology).
We've scoured the web to find the most exciting financial companies and products currently available in Australia so you can get as excited as we did. So here they are, in no particular order (apart from alphabetical):
Acorns "Invest your small change"
What is it?
Acorns is a micro-investment and robo-advice platform wrapped up in one cute little acorn. By signing up, Acorns will round up your transactions to the nearest dollar and then invest that money for you, according to your risk appetite.
How do I sign up?
Download the Acorns app (it's free) and provide your banking information.
Billsumo "Goodbye bill stress"
What is it?
Billsumo offers a way for you to organise and automate your bills. By entering your bills for the year, Billsumo works out how much you need to put aside to cover them and then sets that money aside each payday. You can then pay your bills through Billsumo.
How do I sign up?
While not live yet, you can sign up for updates on the Billsumo website.
brightday "It's better super"
What is it?
brightday is a super fund that combines education with a simple way to manage your super. You can choose between taking complete control of your investments, and being hands-off and letting brightday do it for you.
How do I sign up?
Sign up on brightday's website. You can also use its portfolio planner to see which product is right for you.
Cashper "The social money network"
What is it?
Enjoy instantaneous payments between banks by using Cashper. It works by acting as a "layer over the banking system" so you can execute financial transactions by linking your accounts.
How do I sign up?
Download the Cashper app on iOS or Android and sign in to the portal to link your account information.
BRICKX "Property investment for under $100"
What is it?
BRICKX lets you invest in property by purchasing "bricks". You select a property from the BRICKX platform, choose how many bricks you want to buy (the price of bricks differs between properties) and then you'll earn a return on your investment.
How do I sign up?
Sign up on the BRICKX website and you can purchase your first brick today.
Crowd Money "Open the deposit vault to buy your own home"
What is it?
It's essentially a peer-to-peer investment system where high-income earners and professionals can borrow a 20% deposit for a home, and investors can provide the funds.
How do I sign up?
Borrowers and investors can sign up on the Crowd Money website
Easyshare "Register, set and forget"
What is it?
This is a platform for anyone paying rent, whether it be as part of a share house or a residential or commercial property. Those who are part of the latter can earn reward points by paying rent using a credit card and those in shared rental properties can easily split rent and communicate with housemates.
How do I sign up?
Choose the situation that fits you and sign up on the Easyshare website.
earnie "Say hello to simple smart investing"
What is it?
It's an online investment platform that can get you a better return on your savings. You just create an account, set your savings goals and transfer as much as you'd like.
How do I sign up?
You can create an account on the earnie website.
Map My Plan "Build your own financial roadmap"
What is it?
By entering your financial goals, Map My Plan will build you a financial roadmap to show you where you are now and how you can get to where you want to be.
How do I sign up?
Create a free account on the Map My Plan website.
MoneyBrilliant "Don't be just good with money, be MoneyBrilliant"
What is it?
MoneyBrilliant is a platform that lets you link all of your financial accounts so you can track your spending and receive reminders for bills. You can create a budget, check your progress and also see your net worth.
How do I sign up?
Create a free or "plus" account on the MoneyBrilliant website. You can also download the free MoneyBrilliant app from iOS.
OneTab "Join the bar tab revolution"
What is it?
OneTab is a mobile payments platform that lets you pay for bar tabs at participating venues. You have a unique code which you show the bar, then you can add to it, pay and then leave.
How do I sign up?
Download the OneTab app on iOS or Android.
Openpay "The new way to pay"
What is it?
Shopping at a participating Openpay merchant lets you spread the cost of an item you buy over instalments, interest-free. It's available for both storefront and online shopping.
How do I sign up?
You can sign up for an Openpay payments plan at a participating merchant.
Spriggy "Pocket Money. Updated."
What is it?
Spriggy offers an app and prepaid debit card that teaches 8–18-year-olds how to manage money. Parents can pay pocket money through the app and track their child's spending, while kids can set savings goals and manage their own money.
How do I sign up?
Sign up for an account on the Spriggy website.
Spot Parking "Parking payment made easy"
What is it?
Pay for parking using the Spot Parking app and receive notifications for when your parking is going to expire.
How do I sign up?
Download the app on iOS or Android.
Simply Wall St "Become a better investor"
What is it?
The Simply Wall St platform uses quality institutional data that's analysed every six hours and presented in an easy-to-understand format. With infographics, portfolio analysis and "The Snowflake" you can make better investment decisions.
How do I sign up?
Choose between the different plan options on the Simply Wall St website. You can also download the Simply Wall St iOS app for free.
Super Albert "Sort out your super"
What is it?
Super Albert is a platform that recommends suitable super options based on your social media profiles and other information. It's available for individuals and businesses.
How do I sign up?
Submit your information on the Super Albert website.
Trōv "On-demand insurance for the things you love"
What is it?
Described as Tinder for insurance, Trōv lets you turn on and off insurance for specific items, such as your laptop or phone, all from your mobile. Your items will only be insured when you want them to be.
How do I sign up?
You can download the app on iOS or Android or sign up on the Trōv website.
Zoox "Elegant vision and uncompromising execution"
What is it?
While not technically available right now, Zoox is worth a mention. Zoox is a robotics company that has been flying well under the radar and has plans to transform the way we think about driverless cars. It's looking at driverless vehicles in a different way than other companies, optimising its designs for machine vision, not human vision (that means no steering wheel).
How do I sign up?
You can't just yet – Zoox plans to have its autonomous vehicles on the road by 2020.
