So many things have changed in the financial space over the last few years and new changes are still coming. This means that the days when payments could only be made with cash or credit cards and the days when banks determined who could borrow or save money are long gone.
Today, online payment systems and cryptocurrencies have simplified payment processes. From shopping sites to gaming sites, we are no longer chained to the bank notes or credit cards. There are many casino sites that accept PayPal, such as those that can be found here on www.paypal-casinos.co. There are also service sites that accept PaySafescard. Away from the payment and casino terrain, there are other modern financial establishments targeting different aspects of our financial lives. Here is a look at some of them.
Modern Lend
People entering the US newly to find work or to study usually find it difficult to get credit and loans. The founders of ModernLend, Kobina Ansah and Shuo Zhang are focused on changing this. Their company uses a different metric to provide credit cards and loans to international citizens that are creditworthy but can’t access the credit system in the US.
Traditional banks in the US generally decline borrowers who do not have a US credit history or a social security number regardless of their creditworthiness back home. The company is working first with international student offices to provide cards to international citizens.
Oval Money
The savings market is put at $35 trillion. However, only 18% of young adults are able to save with a major financial institution. The founders of Oval Money are looking to shake things up a bit. Oval Money is a saving app that makes of MangoPay to create a digital wallet that lives on a user’s smartphone. Oval Money makes saving fun by incorporating an ITTT (If This Then That) model to work with any API. Savers can now set the app to save X amount of money if X happens. Oval Money also encourages people to put away small amounts regularly which can build up a large pot over time.
PayKey
This Israeli based app wants to make it easy to pay for goods within any app. The app is a white-label keyboard iOS that makes it easy for anyone to transfer money to anyone else regardless of what app they are using per time. The developers say the reasoning behind the app is the fact that standard banking and payment apps are not properly enmeshed with day to day lives of individuals. PayKey works with any service so users can pay for stuff even if they are on Twitter, Instagram, Facebook or Whatsapp.
Robin
Adults with children usually provide them with pocket money. Robin provides a new way to connect kids to the financial world via their parents in a safe and workable manner. The app connects a wallet to the parent’s bank account while using its idea of gamification to ensure money is saved responsibly and money management. The app partners with banks to move money saved by children to real accounts when they are old enough for an account.
