Neobank services: from the strange to the useful
Whilst neobanks and challenger banks have brought us some revolutionary innovations, some fintechs in the sector have created some rather unusual offerings, and we had a look at some of them.
Poland-based financial software firm Comarch launched Myra, an in-car investment assistant for wealthy investors. The AI-based assistant would inform you about your portfolio performance while you drive, allowing you to make buy and sell decisions whilst on the move. As one person commented on the ‘Robo Advisor’ for your car, “Perhaps this wouldn’t have been such a good idea during the 2020 stock market crash.”
Another one concerns biometric payments using fingerprints. It is likely that this will become a trend in the future, but it was met with scepticism in 2002, when fingerprinting was still primarily associated with being arrested. Still, fintech Pay By Touch gave it their best shot. The concept was that shoppers could present their fingerprint instead of cards and cash for payment. Unfortunately, this was a fintech ahead of its time.
The third one is the Challenges app from Meniga. Its aim was to make managing your money more fun. Basically, it added gamification to its app, so users could take on challenges, establish motivational saving goals and receive amusing spending warnings. You could say it was a Fitbit for finance.
EyeVerify is another biometric app that scans the veins in the whites of your eyes. Eye scanning is certainly something that is likely to become commonplace and the Wells Fargo and Tangerine Bank are adopting the technology to help authenticate users and give them access to their bank accounts. The eye-scanning tech may sound strange to us right now, but Ant Group purchased the company for $100 million in 2016 and are set to have a big impact on how fintechs and other financial institutions use biometric authentication.
The Creditum App
With the Creditum mobile app, users will have access to a suite of financial services, including:
- A seamless exchange from fiat to Crypto.
- An institutional grade secure wallet for the storage of cryptocurrency.
- A growing suite of applications to:
- Earn yield on crypto assets, including stablecoins and wrapped crytpocurrency
- Lend cryptocurrencies
- Make payments
- IBANs for fiat currency
- A card for spending from the e-wallet.
We hope to be on time with delivering the project, but taking into account the fact that no other platform is offering some of our features, adding them has taken time.
Stay tuned for more information about Creditum’s launch, and please visit our new website https://creditum.io/ and subscribe to our newsletter to find out more about Creditum — the fast, frictionless loans and card payments platform.