Fintech businesses have increased dramatically in recent years, transforming the traditional methods of finance. Fintech is a shorter term used for financial technology, it refers to the usage of cutting-edge technology to make financial services more accessible, user-friendly, and fast. Fintechs utilize blockchain, artificial intelligence, big data analytics, and machine learning so the users may avail of a variety of financial products and services, in general, fintech offers services such as mobile payment, lending and borrowing of money, house mortgage, and facilities for blockchain-based cryptocurrencies.

In the following, we will concisely review the most interesting and credible fintechs available in the United States.

Social Finance Inc, SoFi

Social Finance Inc.,  SoFi or www.SoFi.com is an American fintech providing its users an amazingly wide range of financial products and services, all through with their single user-friendly app.

SoFi provides its over 6.9 million members with financial service categories including personal loans, student loans, house mortgages, investing, credit cards, banking, and insurance. The most interesting part is there are no physical branches available of SoFi, all the services among the above-mentioned categories are being provided through mobile apps and desktop interfaces.

Credit card: SoFi members call it the ‘’SoFi unlimited 2% credit card’’ because you will get 2% cash back on every purchase through SoFi credit cards. The amazing product can be availed without any annual fee.

Student loan refinancing: SoFi streamlines student loan refinancing with a simple online application, 24x7 live customer support, no application or case origination fees, and zero pre-payment penalties.

Personal loans: You can get a loan amount from 5000 $ to 100,000 $ within a single day, SoFi offers personal loans for credit card consolidations, home improvement, family planning, travel, and weddings.

House mortgages: with Sofi you can obtain a house mortgage for the down payment as low as 3% to 5% for 10 to 30 years and that’s on fixed terms with a simple online application that will also guide you through the entire process from start to finish.

Insurance: Sofi has partnered with top insurance companies to provide insurance services to its users under the categories of life insurance, home insurance, auto insurance, and cyber-attack insurance.

Banking: SoFi offers checking and saving account options for banking, the account opening process is incredibly simple and online with facilities available such as money transfer, cheque deposits, bill payments, and almost everything a person uses its physical branch bank account for.

Avant

Previously known as Avantcredit, Avant is a decade-old reputable online platform that provides a variety of loans and credit card services to its users.

Through the Avant online application process, you can avail loan amounts ranging from 2,000 US dollars to a max of 35,000 US dollars for 12 to 60-month period that too with a minimum APR of 9.95%.

Personal loans Avant ease the problems of its clients by providing emergency loans, home improvement loan & debt consolidation loans in a simple 3-step procedure, you can visit www.avant.com and in the loan section, you can check your eligibility which won't affect your credit score then in the second phase Avant facilitate your decision and in the third phase you will receive your funds if approved.

Credit Card Avant credit cards can be availed through a simple application and decisions in minutes there are no hidden fees, over-limit fees, security deposits, and fraud liability. Annual membership charges for Avant credit cards are between $0 to $59 depending on the credit limit, ranging from $300 to $3000.

Affirm

Imagine an online or an in-store shopping experience without paying through cash or even a credit card. The service is sincerely being provided by a San Francisco-based fintech Affirm www.afirm.com.

Affirm provide its customer a facility to pay through a mobile app, and that too without any fee or markups, affirm is partnered with top-notch brands in multiple product categories so its users can have the most. from luxury dream holidays to the most exciting products on Amazon there is almost everything covered by Affirm for its users.

How Affirm works: With Affirm what you have to do is just download the Affirm app on your mobile phone and register. As a shopper, you will find Affirm services at almost all online and retail stores where you can pay through the Affirm app by deciding your payment terms through its beautiful and user-friendly application interface. Mostly Affirm does not charge markups or late delivery fees from its customers its business model works differently than those of traditional credit cards. Affirm also offers its services through Google Chrome extensions.

Chime

Chime is a financial technology company and the largest digital bank in the United States as of Forbes in 2020, Chime provides seamless mobile-based banking services to its customers that align with the modern digital lifestyle. Visit www.chime.com

A no-fee spending account with a Visa debit card is Chime’s stand-out product for its digital banking app users. Further features such as early direct deposit, no fee for over-drafting, and a round-up savings program help Chime’s users save their money effortlessly. Additionally, there is fee-free access to vast networks of ATMs allowing users to withdraw cash without incurring any extra charges.

Opening a check-in account is as quick as two minutes with Chime, and through this check-in account, you can use Chime credit builder with 200$ as a direct deposit limit. Chime Credit Builder helps you build credit without interest and annual fees.

Fintech like Chime is making traditional banking simpler and smarter for American consumers by prioritizing accessibility, transparency, and financial inclusion for customers, making a lasting impact on society by redefining the way we manage our finances.

Better.com

Launched in 2016 www.better.com has swiftly become a beacon of innovation in the American mortgage industry. Better.com is accessible, efficient, transparent, and most importantly a fully digital lending platform, it provides an end-to-end online experience that simplifies the mortgage application process to provide its customers with faster, more covenant, and cost-effective solutions.

Better.com provides a clear understanding of mortgage terms and rates and offers real-time competitive interest rate quotes, allowing users to make informed decisions about their home financing options.

There are no hidden charges and personalized customer support available for borrowers to make the mortgage experience more delightful. Besides mortgage Better.com also provides various financial services like insurance, refinancing, real estate, and legal attorney services, one must visit the official website for details of available services.

www.finwise.blog has gathered and organized the above information solely for the knowledge of its readers.

We wish our readers a happy and digitally blessed financial future. Wish you very good luck.

Saqib Sarfaraz

Fintech in USA