As we move closer to releasing our fractional investment platform, we are doing some research on competitors and could really use your help. Which fractional investment/stock trading app have you used? What was your experience with these apps? What did you like about them, and what do you think could be improved upon?
Jacqui + the Envel team
I use M1 finance. Key feature to me is the investment pie(graphs) adding up to 100%. Having variaty of stocks, bonds, index funds, premade portfolios. So then your funds will be divided up based on the % of each asset you’d like in your portfolio. Makes it easier to make a well balanced portfolio with easy automation.
Only improvement would be more then 2 time slots for the purchases. However that might just be due to batching all the purchases together.
Would be nice to have this pie option along side a more traditional single stock purchases like Robinhood.
What I like about some of the investment/stock apps is that they have learnt to integrate fiat and crypto investment/trading and payment platform/gateways for online shopping, P2P, B2P and online launchpad for crowd loan, ICO, 1DO. A launchpad for startups is a powerful tool for winning and onboarding new customers.
Take a look at what True Layer (Open Bank) is doing.
I suggest you check how you can tap into the Crypto and DEFi.
"In September, TrueLayer became the latest addition to the ever-expanding stable of open banking unicorns in Europe.
Now, the firm’s CEO and co-founder Francesco Simoneschi is focused on what he sees as the untapped potential of open banking to onboard to decentralized finance.
“My view is that open banking is probably one of the best possible payment methods you could use to move assets from outside of crypto to inside of crypto,” he says.
In Europe, open banking refers to a three-year-old framework for regulating the customer-consented transfer of banking data to authorized third parties. The concept isn’t limited to Europe, however. TrueLayer is currently expanding to Australia, another place where the fever has caught on. Most recently, the company poached Rob Hale from Regional Australia Bank, a pioneer of open banking down under.
Open Banking is seen as a challenger to the established card-based payment systems due to how it can facilitate account-to-account transactions. That helps explain the raft of open banking startup acquisitions by legacy card corporations. In June, Sweden’s Tink was acquired by Visa and in September, the Danish open banking service Aiia was bought by Mastercard.
Use cases for open banking range from aggregating bank accounts into one app to authentication services and even payouts. According to Simoneschi, the growing popularity of DeFi has created another obvious one."
“Copied from the Block.”
Take a look at in one suite:
Crypto and DeFi
Please, seriously take a look at what Revolut and Coinbase are doing. And how Republic Crowdfunding is using crypto Launchpad to acquire new customers at a supersonic speed. Time to move into a vibrant non-traditional product for a neo bank.
@jerryokundaye Curious; Besides having the option to use Envel as a Wallet for exchanging and perhaps purchase of your crypto (and maybe even staking of that crypto). What else would your vision of “defi” in banking exactly entail?
Feel like loans might be risky play. Jury is still out on that.
Or is that all that is really offered at the moment?
I’m all for a wallet and if Envel ever wants to build some sort of decentralized application I suggest using Hashgraph(Hbar) as it’s the fastest( and most secure, cheapest, greenest out DLT available. Think crypto built for Enterprise use (setting it up so it won’t have to worry with flaws of traditional DLT; such as forks, regulations, Sybil attacks ect) It has names like Google, LG, IBM on it’s governing council to name a few. Soon to be used for all coupons of the coupon bureau to cut down $billions in fraud. All this just to point to the reliably.
Being able to have your whole portfolio in one place regardless of asset type. Being able to see your Net-worth in a snapshot, your budget ect on Envel would be massive.
Thanks for your insight. In economy 4.0, decentralization is a must. A dinosaur awaits any company in the financial sector that would deny itself decentralized services. And to do that, building an app on blockchain or DLT is advised. I think Linen on Republic crowdfunding is doing that.
In all one of the strong points, I am trying to make is that ENVEL should move quickly to position itself the MELTING POT, a BRIDGE between the CENTRALIZED FINANCE (CeFi) and DECENTRALIZED FINANCE (DeFi). A bridge between the traditional banks/financial/investment/stock houses and the crypto/digital/blockchain/DLT world. FINTECH companies that are able to position themselves in this position are most likely to rule the financial world.
Thank you so much for this feedback! That’s interesting about the time slots. Are they at certain times of the day? Or can you just only buy at 2 times during the day?
I love the idea of the pie graph, very helpful to see visual representations of your finances!
Thank you for the feedback. Crypto is most definitely on our radar!
That’s quite interesting True Layer. I’ve just began reading up on DEFI and what it would mean for big banks, and its super interesting.
It does seem like we are quite behind Europe when it comes to open banking. We tend to focus on what are US competitors are doing as they are direct competitor, but its always a good idea to keep an eye on innovations happening in Europe. Thank you for bringing our attention to this!
This is great feedback, and very well said! I’m sharing this with our management team, as its good to keep in mind as we look to the future of our app and the many features we are planning to implement. Thank you as always for your feedback and engagement!
From my understanding it’s a cost saving measure. Maybe also easier especially with fractional shares .
They batch everyones orders together.
2 batches. N.Y. time
9:30am- at open
3pm hour before close.
As for pie graph. It’s also great that you can set up a portfolio of stocks and your cash(could be automatically deposited from bank account % every (x)weeks ) automatically gets split amongst them based on the percentage you want.
Thank you for the follow up! I love the % split feature in combination with the pie chart. That makes sense about the batch orders.