5 Fintech Startups That Are Revolutionizing the Personal Finance Management Space

Traditionally, handling one's personal finances has always been a burden. For the longest time, the majority of individuals received their earnings in cash, brewing the need to meticulously tally up income and expenses in order to comprehend the budget for various needs. 

To say that this was a lengthy and tedious process is an understatement. Thanks to the emergence of the technological era and the widespread digitization of banking services, the task of managing personal finances has become significantly simpler and more streamlined.

The impact of innovation on banking and finance has been profound. One notable development is the rise of financial technology (FinTech), which has greatly optimized the lives of both finance professionals and the general public. Fintech startups and companies are continuously introducing cutting-edge solutions to ensure that daily transactions across global industries are conducted efficiently and securely.

Here are 5 FinTech startups that are currently revolutionizing the personal finance management space, eradicating obsolete practices and outdated methods to streamline the way people handle their money like never before.

Sequence

Known as the world’s first financial router that supercharges users’ money on one single platform, Sequence empowers individuals to take control of their money by seamlessly integrating all their financial platforms into one cohesive system, Sequence allows them to effortlessly automate the allocation of funds towards clearing debt, building long-term investments, optimizing interest, and preparing for unforeseen circumstances.

With Sequence, individuals gain a comprehensive view of their entire financial landscape, where all their accounts, banks, apps, and credit cards come together harmoniously. They witness the true potential of their money as it works tirelessly for them, enabling them to execute any financial action, whether it's a simple task or a complex strategy. 

Keeper

Keeper is an intelligent and user-friendly tax filing software designed specifically for individuals with 1099 contracting and freelance income. By connecting your bank and financial accounts, Keeper automatically identifies tax deductions and personalizes your tax filing process. Using sophisticated algorithms, its advanced system analyzes your transaction history to identify frequently missed tax-deductible business expenses and other valuable tax deductions.

Keeper supports all types of income, whether it's W-2, 1099, or investments. Users can simply upload their forms, and let Keeper handle the rest. Each tax return filed through Keeper undergoes professional preparation, ensuring that every return is reviewed and signed by a qualified tax professional before it is submitted to the IRS.

Vivid Money

Vivid Money is an exclusive mobile banking application and an exceptional digital investment platform, seamlessly integrated into a single app. The platform offers a wide range of functionalities including payment services, fund transfers, multi-currency accounts, detailed spending reports, bill splitting capabilities, and the opportunity to invest in global stocks, ETFs, and precious metals. 

Vivid was founded with the goal of bringing a colorful and completely different experience to personal finance management. Leveraging their knowledge and experience, Vivid strives to help customers increase their earnings and grow their wealth. Since its launch in 2020, Vivid has entered the German market as its first target, followed by expansions into France, Spain, and Italy, with plans for further expansion into more European countries.

Credello

Credello provides individuals with a personalized financial tool that streamlines the process of making financial choices by offering tailored, on-demand recommendations. This enables users to confidently navigate borrowing, saving, and investing decisions.

To get started, users are asked a few basic and non-intrusive questions about their debt and financial status to bring the tool up to speed. Next, users can share their financial goals and preferences, allowing Credello to personalize its recommendations accordingly. Users can then compare different solutions based on how well they align with their needs, goals, and eligibility. Finally, users can leverage the convenient match scores provided by Credello to prioritize their options and select the solution that suits them best.

Pencilton

The Pencilton app provides a platform for parents to give pocket money to their children while also giving them insights into their spending habits and teaching them valuable real-life money skills. For many years, their team has been dedicated to creating tools that enable parents to instill essential practical skills, particularly in the realm of financial literacy, in their children.

Pencilton has received support and incubation from esteemed organizations such as T-Hub (an initiative by the Government of Telangana), Wharton School of Business, IIM Kozhikode, and the Department of Science & Technology. Additionally, Pencilton has achieved recognition by winning Conquest, and being honored as one of the most innovative startups in India.