One app to rule them all? The fintech company that offers integrated financial solutions
In 2020, the US saw total e-commerce sales reach $537 billion, as an increasing amount of financial activity moves online. It is arguably more important than ever for people to have integrated financial solutions that suit the modern market. Over 160 million Americans currently use online banking, with money transfers and payments having the highest customer adoption rate among financial technology (fintech) services.
This fintech revolution is leading the shift away from traditional banking systems in favor of more innovative and integrated financial services that suit modern lifestyles. A company that offers unification of financial services on one platform is New York City-based Current.
From the convenience of one app, Current says users can seamlessly meet all their financial needs, make deposits and monitor payments and paychecks. Current is a fintech solutions provider and not a bank, and its banking services are provided through a partnership with Choice Financial Group, a member of the Federal Deposit Insurance Company (FDIC).
A current trend?
Through the company’s Current Core financial technology, financial services are now gathered in one place. Receiving paychecks, using savings and debit cards, buying and selling crypto and more can be done through a single app.
The company highlights several benefits offered through the Current platform to its users. With a current account, paychecks can be delivered up to 2 days earlier through the early direct deposit service.1 This means waiting less time for salary and increased financial flexibility.
The Current platform also allows crypto buying and selling with dozens of cryptocurrencies. With no trading fees, users can exchange crypto for cash and vice versa instantly, getting instant access to funds and uncomplicated crypto for beginners and veterans alike. Crypto newbies will especially appreciate the simple settings that include in-app crypto tips.
Another exciting platform feature is Current’s savings capsules. These allow users to set aside funds and save right away, earning 4.00% annual percentage rate (APY) – 15 times the national average.2 Users get an increase in their savings whether the pod has $1 or $1,000, and they have 24/7 access to the money without restrictions. This means they can use or reinvest savings whenever they need to.
Through this integrated financial app and platform, Current looks to allow users’ money to work together efficiently in a solution that fits the financial needs of the 21st century.
Interested in learning more about Current? Visit the website at Current.com.
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1Faster access to funds is based on a comparison of traditional banking policies and deposits of paper checks from employers and government agencies versus deposits made electronically. Direct deposits and earlier availability of funds are dependent on the time of the payer’s submission of deposits.
2The annual percentage rate of return (“APY”) for current interest is variable and may change at any time. The APY disclosed is effective November 1, 2022. No minimum balance required. Must have $0.01 in savings pod to earn current interest up to $2,000 in deposits per savings pod up to $6,000 total. Please see the current interest rate terms. 15x interest calculated using the FDIC’s average national savings account deposit rate of 0.24. www.fdic.gov/resources/bankers/national-rates/index.html
