The arrival of digitalisation and digital transformation in recent years has made it possible for startups to enter the market. One of the most notable are fintech companies, which have become an acceleration engine for banks, to the point that some of them have even become direct competitors of the banks themselves.
But what exactly are fintech companies? This term is the combination of two words: Finance and Technology, which mean finance and technology, respectively. Therefore, they are companies whose activities are related to the use of innovation and technological development for the design, offer and provision of financial products and services. These characteristics are what make their services less expensive, but at the same time more efficient, than those offered by traditional banking.
If you are interested in this new work scenario and want the opportunity to train to be part of it, choose the Master in Fintech and Financial Innovation from Inesdi. With it, you will be trained to lead the new work scenario that emerging technologies are bringing to companies and organizations in the financial sector around the world. A qualification with which you will acquire the necessary knowledge to successfully lead projects in the field of finance in your respective companies, and thus meet the needs of the current business landscape.
The 5 leading fintech companies worldwide
In the fintech sector, there are already several leading companies that have revolutionized the financial landscape with technological solutions based entirely on innovation. These companies stand out for offering agile, secure and user-centred financial services, with the presence of technologies such as artificial intelligence, blockchain and digital payments.
Their disruptive approach has redefined the way people manage their finances, with continuous evolution and adaptability that consolidate them as leaders in the sector. For this reason, fintechs have become important elements in the financial sector.
Below we leave you with the five most important ones worldwide today. But if you are interested, in Spain we also have successful fintech projects.
Revolut
It is a mobile application that works like a bank. It is very easy to register and you can have accounts in different currencies. The services offered are a current account, a credit card and the purchase of cryptocurrencies.
One of the great advantages of Revolut is that you can withdraw money from anywhere in the world without fees but with a monthly limit of 200 euros and a maximum of five withdrawals from ATMs. Above this limit, 2% will be charged on each transaction. With the Premium service, which has a fee of 8.99 euros per month, there is a limit of up to 400 euros per month. In the Metal and Ultra plans, the amount rises to 800 and 2 thousand euros, respectively.
Revolut also stands out for its smart expense management, with detailed analysis tools and automatic transaction categorization. Its intuitive interface allows you to freeze and unfreeze cards instantly and offers rewards programs, cashback and exclusive discounts for premium users.
Monese
UK-based Monese is a banking solution focused on simplifying access to financial services for foreigners, thereby overcoming common barriers to traditional banking. The platform, accessible through its intuitive app of the same name, allows users to open a current account through a simple process that requires basic personal data such as a mobile number, ID, email and profile photo.
One of Monese’s distinctive features is the ability to apply for a contactless Mastercard debit card for free, with the flexibility to make transfers in both pounds and euros. The platform also allows cash withdrawals at national and international ATMs.
Its added benefit is the accessibility of account information with a simple click from your smartphone, without having to visit physical branches. Due to its efficiency and mobility-focused approach, Monese is positioned as an agile and practical option in today’s financial landscape.
N26
N26, a German bank based in Berlin with a European banking license, stands out as a low-cost digital financial institution. Its main focus is on the agility of operations so that users can send and receive transfers quickly and access detailed information about transactions in real-time.
Operating with N26 is straightforward and hassle-free via its mobile app, eliminating the need for paperwork and branch visits. The bank account is free and fee-free, with the option to purchase products instantly.
Additional benefits include the absence of face-to-face paperwork and the elimination of the need to visit bank branches, as all transactions are carried out efficiently through the app. N26 positions itself as a modern and convenient option, with accessibility and simplicity as its strong points.
Wise
Wise is another of the world’s leading fintech companies. Headquartered in London, it stands out as a leading technology company that simplifies and reduces the cost of international transfers over the Internet. This Fintech revolutionizes the financial landscape by eliminating the high fees associated with currency conversions carried out by traditional banks. The platform facilitates exchanges in a simple and secure way and allows transfers up to eight times cheaper than conventional banking options.
Wise uses a system that automatically adjusts currency flows to the real market rate. With this system, customers are guaranteed to completely avoid traditional banking fees and not lose money due to unfair rates when making international transfers.
Bunq
Amsterdam-based fintech Bunq was founded in 2015 by Ali Nikham and has established itself as a reliable financial option in the Netherlands. It is licensed to operate and is protected by the Dutch Deposit Guarantee Fund, which ensures up to €100,000 of coverage in the event of insolvency.
It operates under the name Challenge Bank and operates with physical money, but it guarantees security and regulatory compliance. Opening an account on Bunq is very easy, as you just have to download the application and complete the registration process. The platform offers various plans: Easy Bank, Easy Green, Easy Money and Easy Savings. The first, which is the basic one, offers one card, while the next two offer three. Although it has interesting functions, it is less attractive than the previous ones due to its costs.
