5 Fintech Products Making #Finance More Accessible This Financial Awareness Day

The fintech space has helped make financial information more accessible and digestible for non-experts. Whether that’s providing loans for people with limited credit history or opening up investment opportunities for women, the fintech industry is making banking and finances more inclusive in many ways.

In celebration of Financial Awareness Day on August. 14, here are five products that can take the guesswork out of finances and have you feeling like your own accountant or financial advisor. Or at the very least empower you to handle some aspects of your finances on your own. No judgment if you still have someone else file your taxes.

Credello

Credello provides personalized guidance to help simplify debt consolidation. Its aim is to make finding the right financial solution as easy and interactive as, say, online shopping. Take a journey to find the best debt consolidation loan for you by entering a few debt details—no personal information necessary. Whether your goal is to get lower monthly payments, lower your interest rate, or become debt-free faster, Credello’s Match Score will show you how closely a particular product matches your goals and requirements.

Tala

Securing a loan can be difficult with a poor credit score or no credit history, but Tala eliminates the headaches around that, making personal loans more accessible for everyone by looking beyond credit history to determine creditworthiness. Tala instantly underwrites and disperses loans through its mobile app, with loans ranging from $10 to $500. In addition to facilitating loans for folks who wouldn’t normally qualify, Tala also helps users build credit.

Branch

If you’re not a fan of banks or paper, Branch is with you. The service is completely smartphone app-based and allows users to access money wherever and however they want, with none of the restrictions that traditional lenders have. Creditworthiness is determined by smartphone data—like bill payment and bank history—not credit reports, making the approval process fast and easy. Branch processes thousands of loans ranging from $2.50 to $500 on a daily basis.

Ellevest

“A financial company, for women by women” is Ellevest’s tag line, but the company welcomes folks of all genders. Ellevest is a roboadvisor specifically designed to close the gender gap in investing and other financial areas by empowering women. It offers 25 different funds, including retirement savings plans and funds focused on creating social change through the advancement of women worldwide.

The company has a range of investing membership plans, starting at $1/month, that gives users access to online investing, spending and saving, on-demand learning, and money and career coaching.

Fair

Getting a new car is wicked expensive. And the COVID-19 pandemic has even led to a used-car price surge. While Fair predates the coronavirus crisis, it could be an even handier tool now. Fair offers month-to-month leasing options, as well as two- or three-year options, on pre-owned vehicles as a cost-effective alternative to leasing a brand-new car. So, if you like getting new, or new-old wheels every few months, Fair can keep you moving in a fresh whip.