Right now, the financial industry is suffering from a serious lack of trust. People have been burned by Madoff, witness the banks spend bailout dollars on lavish parties and have seen their retirement savings crumble.
When consumers turn their backs on a business sector, things start to change. And that is exactly what the following financial startups are trying to do.
Embracing the needs of the marketplace with a level of transparency that is not largely seen in the financial industry, these companies are providing much needed services alongside a customer experience that is what customers expect.
10. Tempo Payments
Shoppers turn towards debit cards over cash and credit cards more and more. Seizing this momentum, Tempo has broken the link between the debit card and the bank.
Branded by MasterCard, Tempo’s debit cards can be linked to a checking account with any bank or even to a specific retailer while earning rewards through Tempo for themselves or for their favorite charity.
9. Wepay https://www.wepay.com/
Ever find yourself needing to split a bill with a group of friends? Usually one person has to plunk down their credit card and then badger everyone else in the group to cough up a check or cash. Of course, someone always forgets their wallet when the time to pay up comes along.
With WePay, group payments are easy. You simply set up an account and collect the money owed. You can even sell items and collect donations through WePay.
8. Blueleaf http://www.blueleaf.com
These days, we turn to the social web for everything; recommendations on restaurants, where to find the best deal on a computer, even on who to date. Why not turn to your family, friends and financial advisors for help when it comes to your money?
Blueleaf lets you collect all of your financial information in one place and then invite others to collaborate with you on how you can improve your returns.
7. Square www.squareup.com
Square has been around for a while providing mobile phone users with a simple way to collect credit card payments.
Signing up at their site gets you a card reader sent for free that you simply plug into your smartphone. Download the app and you are ready to start accepting credit cards on the go.
6. Covestor www.covestor.com
Some people don’t quite have the money for a private banker but don’t want to get mixed up in mutual funds. For them, there is Covestor.
Based on the peer to peer model, those who meet a certain criteria (between $100,000 and $1 million in investable assets) can join up to gain greater investment leverage for better returns.
5. TXVIA http://www.txvia.com
The payment industry has changed over the years and we’re not just talking about debit cards.
Gift cards, prepaid cards, rewards, digital wallets, the list goes on. TXVIA is trying to make some sense out of an industry that is expanding at an astronomical rate. By focusing on the custom payment requirements of individual businesses TXVIA is looking to offer end-to-end processing solutions that keep current with emerging payment services.
4. On Deck Capital www.ondeckcapital.com
Money is much harder to get these days. Especially for small businesses who are consistently turned down by larger banks.
Having provided over $150 million in loans to date, On Deck Capital provides loan financing founded in a backing from leading venture capitalist investors.
3. BillShrink www.billshrink.com
BillShrink exists to help people do just that. People looking for better rates on credit cards, wireless services, television service, gasoline and savings can use their search engine to scan for the best deals so you can start saving immediately.
And if they find a better deal later on, they will email that to you.
2. Wave Accounting www.waveaccounting.com
Small businesses are starting up all over the place. Many economists believe that it is the smaller business that will help propel the economy out of the current crisis.
However most people run into trouble when it comes to their businesses’ finances. That is where Wave Accounting can help. Moving accounting from the spreadsheets and shoeboxes to the cloud for free helps business owners keep track of finances without having to master a separate piece of software.
1. Peerform https://www.peerform.com/
While small businesses are feeling the loan crunch, individual consumers are also finding it hard to borrow.
Peerform takes the lending out of the hands of the big banks and puts it into the hands of your peers. Member investors collectively analyze loan applications and lend money to those they approve of from the Peerform marketplace.
As the economy continues to ride like a rollercoaster, expect changes in the way we do business around the globe. And when the economy kicks back into high gear, remember these startups. Odds are some of them will be the ones that helped make that possible.