You are probably aware of PayPal and cryptocurrency as they make the perfect examples of what fintech is. Fintech companies have therefore changed a lot of things in the traditional financial sector because as days go by, more transactions between consumers and service/product providers are being carried online or are cloud-based.
Who knows maybe days are coming when the world will go cashless completely. That is very possible given that at the moment, people can buy or sell stocks, manage their funds, pay for services and products via phones, all through internet-based means (software, mobile apps, etc.). Wouldn’t it be interesting for you to familiarize yourself with top fintech companies in the US that are shaping the financial transactions sector for the better just like top 5 FAANG Stocks?
Take a look:
Leading the pack is Stripe, which according to this Statista report on the largest fintech companies in 2020 had a market value of $35 billion. So what does Stripe Company do exactly that makes it so valuable? This company has a platform that allows both small and large businesses to accept payments from customers all over the world.
Back in the days when it was introduced, Stripe helped sellers transact online but nowadays it is also at the service of giant companies like Amazon, Facebook, Microsoft, and many others.
Valued at $10 billion, Ripple was established to assist financial enterprises trade across borders using blockchain technology (XRP) and digital assets. Businesses rely on Ripple for international payment facilitation which is instant and cost-effective.
These are the kind of companies to make you believe that cryptocurrency will take the future by storm. Coinbase is a cryptocurrency exchange platform that helps individuals trade cryptocurrency (Bitcoin, Ether, XRP, etc). The San Francisco, California based company comes with a firm security system.
This is an online stock investment application that enables potential traders to realize their investment dreams. It can be accessed via a desktop or mobile phone and it is ideal for persons who do not want to pay any fees or commissions.
It also comes with zero account minimums requirement which makes any person qualify to trade through the platform. With Robinhood trading platform at your disposal, you only need to look for efficient forex trading signal providers and you are good to venture in the forex trading markets.
5. Credit Karma.
The company was set up back in 2007 with the objective of helping users access their credit scores at any given time. Not only does it enable its users to track their credit score, but also prepares their tax information online. On how they make money, they earn a fee whenever a user purchases their recommended product or services.
We all want a lending platform that can allow us to purchase products and services and pay for them in small installments and that company could be California based Affirm. Yes, users can go for trips, acquire furniture, or even electronics through Affirm and choose to pay for them anywhere in between the duration of 3 to 36 months.
Their loans are transparent nor do they have any hidden fees. While enjoying Affirm services, you ought to know that late loan repayments can affect your credit score.
What does Plaid do exactly? They help users connect their bank accounts to payment apps for easier transaction processes. Plaid is completely reliable and safe and it is trusted by other fintech companies like Robinhood, Venmo, and Coinbase in linking their apps to bank accounts.
Other notable fintech companies worth mentioning include Root, Opendoor, SoFi, and Chime among others.