Rize Launches First Money App with Saving & Investing All in One Place

WASHINGTON, Jan. 18, 2018 /PRNewswire/ -- Rize, a mobile-first web app that simplifies saving money, announced today the official launch of its expanded platform with the addition of Rize Invest - now offering both automatic saving and automatic investing in one place. Rize has been running its savings app in test mode since April, with thousands of users automatically pulling money directly from their bank accounts each month to meet a wide range of short-term financial goals. With Rize Invest, users can now plan ahead for the longer-term in the same way. Simply set your goals and when you want to meet them, and Rize will save or invest your money automatically each month based on your needs.

While more than 39 percent of Americans have zero savings, Rize's users have defied the stats by saving an average of $200 per month. Rize makes it simple by letting users put the process of saving on autopilot, so they can achieve their financial goals more easily - and more quickly, thanks to Rize's 1.16% APY (19 times the national average). Rize has been created as an inclusive way to help the hustlers, innovators, and people trying to make a change in their life and the world. The platform supports those who have a vision and goals, and helps them save for the life they want.

With the addition of Rize Invest to the platform, Rize now offers an auto investing concept that mirrors its auto saving approach - based on setting different financial goals, and determining a time horizon for meeting each one. While Rize's savings features are perfet for shorter-term goals like upcoming vacations and buying a car, Rize Invest lets users envision and work towards longer-term goals like buying a home and saving for retirement - using investing to increase their returns over time. For each long-term goal, Rize will create a customized asset allocation recommendation, split across cash, bonds, and stocks. Each investment is based entirely on the time horizon for each goal; the longer you have, the greater the risk/equity exposure. Rize's overall approach is still very conservative and in line with how millennials invest, as opposed to playing around with the volatile market.

"After seeing from the inside how much the financial services industry isn't designed to help consumers, we built Rize to level the playing field and make it simple for anyone to manage their money correctly," said Justin Howell, Co-Founder and CEO of Rize. "Millennials in particular have been set up to fail with money, and we want to prove that it is possible for a financial company to help its customers get to where they want to go in life. With Rize Invest, we are providing simple exposure to the market to earn great returns for that longer-term money."

Rize offers a "pay what you want" model for its services. For savings only, there is no minimum and users can name their own monthly fee. For investing, there is a minimum contribution of $2 per month, plus 0.25% per year on invested goals. There are absolutely no hidden or trading fees. To learn more or sign up for Rize today, please visit rizemoney.com.

About Rize 
Rize has created the first account that makes it simple for Millennials to both save and invest for goals they care about in one place. Rize helps its customers (called Rizers) select financial goals that meet their unique needs and save automatically on a schedule they choose. For each goal, Rizers can both invest their money in a set of low-cost ETFs and hold their savings in cash that earns interest at a rate 19 times the national average. From an emergency fund, to a dream vacation, all the way to retirement, Rizers can manage all their money for the future in one place. Founded by two friends determined to level the playing field in financial services, Rize is built with love in Washington, DC. For more information, please visit rizemoney.com or follow us on Facebook and Twitter.

View original content:http://www.prnewswire.com/news-releases/rize-launches-first-money-app-with-saving--investing-all-in-one-place-300583602.html

SOURCE Rize

[ Back To Mobile World Congress's Homepage ]