This week our chosen Fintech app is: Moneybox. This is an ingenious app which rounds up payments on all your daily purchases and invests the change in a diversified portfolio. This app is a cost-efficient, headache-free way to start investing.
It’s ideal for students and young professionals who lack the confidence to define their own investment strategy or funds to access professional advice. The design of the app feels young and friendly, with some cutsie animal avatars, and the navigation is pretty intuitive. The app doesn’t have a massive number of functionalities yet but the ones it does have run quite smoothly.
The users can choose between three tracker funds of variable risk and invest their spare change into over 6,000 global companies within a Stocks and Shares ISA.
Moneybox therefore does a brilliant job at democratizing personal finance management, helping the average Joe reach his goals better and faster a few pennies at a time.