Trends Report

Fintech Startups Shake Up Consumer Financial Services With Autonomous Finance Offerings

September 5th, 2019

Summary

Ebbel, Tally, and Zero enable customers to manage their credit card spending. Cleo, Dave, Even, and Trevio are enhancing checking accounts. Brokoli, Clark, Covera, Fluo, Gabi, and Hublio offer tools that allow customers to make the most of their digital insurance coverage. Catch, Chip, Digit, Max, and Personetics provide autonomous solutions that help customers save. Fintech startups are plugging the gap in debt management and financial wellbeing that banks have left wide open. Habito (UK), Mortgage Gym (UK), Trussle (UK), and UNO (Australia) use algorithms to assess customer mortgage needs and the quality of their existing home loan, continuously monitor the market, and recommend the best product for each customer. Bean, Minna Technologies, Cushion, and Trim remove unwanted subscriptions and fees, saving money for customers. Few robo-advisors have moved beyond providing investment advice, discouraged by compliance risk and the difficulty of building and monetizing a more comprehensive digital financial advice engine.

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