5 Investment Tools That Dominated the FinTech Scene in 2023

The financial technology landscape, or FinTech, has been a playground for innovative tools that are reshaping the way modern users invest and manage their finances. These technological advancements have democratized access to financial services, making it easier for individuals from various socio-economic backgrounds to participate in the global economy.

In 2023, certain investment tools stood out, gaining prominence in the FinTech arena. From advanced analytics to decentralized finance, these tools are revolutionizing the investment experience. 

Here are five investment tools that dominated the FinTech scene in 2023:

FINQ

An AI-powered investment platform designed for a broad user base, FINQ eliminates human intermediary through the utilization of big data and advanced scientific methodologies. FINQ not only provides investors with access to superior data but also furnishes them with the essential information necessary for making well-informed, timely, and ultimately effective decisions.

Employing cutting-edge science and extensive data analysis, FINQ constructs portfolios strategically engineered to surpass market performance, and it consistently delivers on this promise – replacing limited, biased, and old-fashioned financial systems. Demonstrated by its stock portfolios achieving a significant outperformance against the market year-to-date, FINQ showcases its ability to harness intelligent structuring of extensive datasets, converting them into actionable insights.

Betterment

Betterment aims to help people grow their money and improve their quality of life through its dedicated investment and savings app. Individuals can effortlessly sign up to access goal-setting and planning tools at no extra cost. For a single, transparent fee, users can invest their funds, taking advantage of automatic deposit and trading features that actively put their money to work. 

For long-term financial needs, such as retirement, upcoming vacations, or a down payment, Betterment’s investment strategy employs low-cost ETFs (exchange-traded funds) and adjusts the risk profile based on the individual's goal type and the planned investment duration.

Wealthfront

Wealthfront seamlessly combines investment and savings products to assist young professionals in building lasting wealth under any market conditions. Utilizing advanced software, they provide high-yield savings through partnered banks, a diversified portfolio involving ETFs and bond ETFs, commission-free stock investing, and cost-effective loans. 

Through Wealthfront's automated investing feature, users only need to respond to a few questions, and a customized portfolio of low-cost index funds spanning up to 17 global asset classes is created for them. The software takes care of all trading, rebalancing, and other operational tasks, streamlining the process and contributing to the long-term growth of users' wealth.

Robinhood

Founded on the idea that financial markets should be accessible to all, Robinhood has embarked on the mission of leveling the playing field in an industry characterized by historical barriers. The company strives to make trading more intuitive, cost-effective, and inclusive, ensuring that everyone, regardless of their wealth or industry knowledge, feels empowered to engage in the financial system. 

The Robinhood 24 Hour Market stands out as the exclusive platform where users can trade popular stocks like TSLA, AMZN, AAPL, and more, 24 hours a day, five days a week—all without incurring any commissions.

Invstr

Invstr is known for its commitment to individual empowerment, diversity, and collaboration. The company's mission is to help people learn and invest intelligently, with a focus on building a sustainable future for future generations.

The learning methodology at Invstr is both enjoyable and effective, surpassing traditional financial education. Through Invstr Academy, Fantasy Finance, and Invstr Pro, users have the opportunity to engage in theoretical learning, practice investment skills, and receive daily feedback on performance and progress. This comprehensive approach ensures that individuals can navigate the process of learning and practicing investment strategies with confidence and effectiveness.