Finimize - Fintech Q&A!

Hey all, we’re hosting a Fintech Q&A this week with Finimize!

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Michelle, their Community Manager will be with us later in the week to answer questions and discuss what they are doing.

In the meantime, here’s some info about them!

We created Finimize because it’s unnecessarily difficult to know what to do with your finances. Whether it is the amount of jargon in financial news, the broad range of advice you receive or the sheer number of platforms to choose from – the outcome is often inaction.

Our mission at Finimize is to empower you to become your own financial adviser by giving you the information and tools you need to make smart investment decision.

We began with making financial news accessible. In 2016 we launched our daily financial newsletter. A newsletter that explains the two top stories in finance, without jargon, in 3 minutes. This now reaches 250,000 users and is growing fast. Check it out here [https://www.finimize.com/]

Now, we are using this community to build the TripAdvisor of finance. Our iOS app, recently featured on the App Store, contains real user reviews of their experiences with financial services and providers, paired with relevant content and investment guides. Of course, without jargon.

So, has anyone checked out their service or the app - if so, what are your thoughts on it?

https://www.finimize.com/app/#

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Oooh! Awesome stuff :raised_hands:

What companies (apart from Monzo :wink:) do you think are doing the most interesting things in the Fintech world at the moment?

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OK for the financial advises, but it would be perfect if we have the ability to buy stocks through Monzo, and even better Monzo stocks :slight_smile:

Hi Kim, :wave: Love this question!
Finimize has an eye on lots of exciting Fintech companies in the UK and globally!

We really like what Robinhood is doing in the US with free trading. Can’t wait for something like this in Europe! Also, Matador is a similar app in the US but incorporates a social angle, they also recently integrated finimize news too!

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I was looking at the links and thought it sounded great until I saw the word ‘millennials’. Those of us who are older than that also need good advice and information and that completely put me off looking any further.
Do you think aiming solely at millennials reduces the amount of sign ups you could get?

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Hey @MichelleFinimize - Have you not come across FreeTrade yet?

I’d not heard of Finimize so I’ll take a look now!

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Hello! I’ve not downloaded Finimise (is it even on Android?) but I’m confused about what it is. Are you a news site, comparator website, or something else? Could you give us the elevator pitch and a sense of the business model, please?

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So, I obviously can’t give you anywhere near the level of info you will need.

But this is my take out from playing with the app for the last 10 mins…

Sign up - Super easy (email code comes through quickly). The you are in to chose the topics that appeal to you.

Options are (you can pick 1 or all).

  1. Markets
  2. Random (random tidbits ranging from pop culture events to interesting finance trivia)
  3. Labs - Exactly the same as Monzo (testing new features)
  4. Markets Pro
  5. Crypto

Once you’ve chosen that, you go into the news feed, and can start reading concise articles.

The app is very nice (super slick) - They’ve done a great job of making it easy to use.

You also have a “Discover” tab, which gives you reviews on some of the platforms the users use (Robo advisors, Brokers, Crypto).

Finally, there is a whole tab dedicated to learning the ropes of finance (guides to investing etc).

All in all, I’m very impressed so far.

I’ll keep reading to see how relevant it is. But so far so good!

Edit - I was reading a review on one of the Robo Advisors, and it blurred out the other reviews, with an “Unlock all reviews” button… The dreaded in app purchase i thought…

Nope - Share the app, or write a review to unlock all reviews - Nice way to add content :smiley:

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Hi Rat_au_van :wave:
We definitely have people all ages from all over the world who use Finimize to become financially savvy. Millennials are just the beginning! We hope that word doesn’t put you off but most of all we hope you enjoy it and get some use out of our daily newsletter or app. Feedback is always welcomed.

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Hey Peter, we have a daily newsletter so you can stay up to date in 3 minutes a day on financial markets. In a language everyone can understand.

And @nickh has given an awesome summary of our app below. If you want to know more - check this video out. https://www.youtube.com/watch?v=coU_HAIoTjQ

We believe that people should be empowered to make their own financial decisions. And we do this by giving them the information and tools they need.

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Hey Michelle,

What does the company roadmap look like, or what’s the biggest service or feature you’d like to offer in the future?

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Hi Michelle,

Signed up to the newsletter last night after seeing this thread. Got my first digest today and I’m a fan!

Any plans for an Android app?

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Hey, so glad you’re enjoying the newsletter. Welcome to the community :facepunch:

We’re figuring out the product on one platform first before rolling out to everyone. It means that everyone gets a great experience and we can move faster for now.

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Hiya Simon,

Our long term goal is to become the platform you check before making any financial decision.

But, in the short term we want to continue to grow the newsletter and broaden the categories of user reviews in our app. Currently we have robo-advisors and crypto exchanges. This is an important step in our mission as consumers today are faced with so many options that often we suffer from choice paralysis, and end up doing nothing with our savings. The social validation of seeing other user’s reviews helps overcome this.

We are also integrating our news into 3rd party investment apps so that users can receive information in the context of an investment decision.

Exciting stuff.

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