Financial Apps October 04 2015, 0 Comments

Financial apps

We began paying for stuff through barter, give me a smartphone for a laptop would be a common phrase in this system. But this system only worked because the world was largely a socialist economy. Then there came gold and silver coins, which were gradually phased out by cold, hard cash, which is basically paper.

Now you can just write a cheque, or go further to electronic money transfers. This has made global payments easier and faster, really making the world more connected. We’re still working on developing this electronic money and most apps are still new, and they work in various industries, too.

Insurance companies

I always hate the bureaucracy in filing insurance claims after an accident, but now you don’t have to. Even insurance companies are getting in on the app train. Among the most successful insurance apps is the GEICO mobile application and the Allstate mobile app. These apps let you take pictures of an accident, record eye witness statements and send the files directly to the insurance company.

This way, you bypass all the processes you would have to go to if you filed manually. Furthermore, you receive updates and notifications directly to your phone, effectively making the process way easier. However, not many companies have created such apps, but hopefully more insurance companies will understand how much easier it could be for both them and their clients.


Most banks, too, are getting in on the mobile apps field, you no longer need to log in through your computer. This is by far an easier method to make transfers to other accounts, check your balance and perform any other transactions you usually do. For these, though, they are dependent on the specific bank and there aren’t any universal apps, check with your bank to confirm whether they have an android app for transactions.

Online payments

To any freelancer, these are probably going to sound like a cliché, but most people don’t realize there are mobile apps accompanying the websites. The top site is, of course, PayPal, which is acceptable by most stores worldwide. Other up and coming apps include Skrill and Payoneer which are also pretty common. With these apps, you get notifications on any payments you receive as well as make payments when you’re on-the-go.

Shopping apps

Online shopping is an ever growing business, it’s a great way to buy something unique and that can’t be found in your country. Even if you want to buy something local, online shopping is more effective and doesn’t require much physical labor; you get what you want delivered to you.

The top online shopping websites are, of course, Amazon and eBay, and they each have apps available. With an app, you can keep your eye on auctions and watch lists even when you’re on-the-go, that way you never miss a good deal. Messages, too, can be viewed directly from the apps.

Why these apps are getting so common

I suppose everyone gets serious when there’s talk of money, and no other time is better to get money than right now. These financial apps makes receiving and sending money instant, and this is the reason for these apps’ growing prevalence.