What’s Wrong With Money Management Apps?

Engaging, authoritative personal finance and adult education: Technology has meaningfully improved access to information. Too much of anything can be a bad thing, though — and I believe that much of our day to day struggle as consumers is now attributable to a lack of filtering ability versus a lack of access. Because of this, I believe there is im... See more

finance and fintech have remained stubbornly single-player. We still call it personal finance.

Ultimately, leading players want to take over the rest of the finance space leveraging their user base, technology and brand. Payment companies doing loans. Payroll providers starting to act like aggregators of services. Accounting solutions doing planning. Expense management platforms doing procurement.

Financial services simply weren’t designed for the modern internet, and this is a pain point for businesses today: nearly half (46%) of companies report that their banking experience has hindered their company growth.

For the last decade, a vast majority of consumer fintech startups have focused on millennial customers.

Over the past decade we have seen a wave of consumer fintech innovation unbundle the traditional bank and financial services platforms as younger customers have poured in to those emerging leaders. But no recent consumer-focused fintech player has built a new, large financial services platform specifically focused on America’s aging population. Giv... See more