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Finch Launches Industry-First All-in-One Checking and Investing PlatformNEW YORK, Nov. 10, 2020 /PRNewswire/ -- Finch, a fintech startup that integrates the benefits of investing and the flexibility of checking into a seamless all-in-one account, has today announced its official launch on the Apple App Store. Backed by leading investors in Fintech and Global Banking, Finch is designed to help millions of Americans unlock the benefits of investing, develop healthy financial habits, and take steps towards financial freedom. Finch's innovative platform reinvents the traditional checking account by incorporating the power of investing and putting your money to work more effectively. Finch lets customers earn investment returns by automatically investing their checking balance into a portfolio designed to match their unique risk profile. This means your entire balance is always working for you, from day one, no matter what your balance is. Finch further pushes the envelope by enabling customers instant access to their money when they need it - even the invested part! Core Difference in the Finch Approach Finch does just that. Finch creates a whole new product category that sits at the intersection of banking and investing, providing a unique way to unlock the opportunity for greater financial growth within the familiar environment of an everyday account. "We knew that to help the millions of underserved Americans kick-start their journey towards building a healthy and happy financial future, we needed to create a solution that would help customers unlock the benefits of investing without having to significantly change their behavior. The approach and entire experience needed to be as frictionless as possible, and the platform itself unique in value yet familiar. Recognizing that the majority of millennials leave their balances sitting idle in their checking account, we created Finch to help customers optimize their checking balance by integrating the benefits of investing all into one place," said Neel Ganu, Founder of Finch. Finch's Portfolios The Stable portfolio consists of cash and a mix of ETFs that invest in short-term government and corporate bonds. The goal of this portfolio is to allow you to dip your toes into investing while aiming to preserve your capital. This portfolio gives you the potential to earn a return marginally greater than, but comparable to, what you would earn in a high yield savings account. Over the past ten years, a simulated Finch account invesed in a typical Stable portfolio would have earned 9.0x more than a checking account and 1.8x more than a high yield savings account. The Growth portfolio consists of cash and a mix of ETFs that invest in US large stocks and bonds. The goal of this portfolio is to help you to unlock the benefits of investing and build long term wealth. Over the past ten years, a simulated Finch account invested in a typical Growth portfolio would have increased your balance by 33%. (For supporting assumptions, visit here) Also, as a reflection of Finch's values, and growing importance to Millennials, they also offer a sustainable version of the growth portfolio that invests in companies that have a positive environmental impact, are socially responsible, and commit to high governance standards. Support from Early Stage Customers and FinTech Community "I'm excited about Finch. As someone who's built an app for saving, and an app for investing, I see Finch putting those two things together in a very simple way," said David Ronick, Co-founder of Stash. "Finch allows the money you put in your account to actually help you generate returns. The Finch team is smart, humble, tenacious, and has a strong sense of purpose to help close the wealth gap in a unique and simplified way that's needed in the market. Now more than ever." Core Finch Features
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Finch is Now Available About Finch Disclosures View original content to download multimedia:http://www.prnewswire.com/news-releases/finch-launches-industry-first-all-in-one-checking-and-investing-platform-301169243.html SOURCE Finch |