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So what is micro-investing, exactly? The financial market consists of diverse offers which are made to comply with investors’ expectations. Moreover, clients’ investment expectations also depend on various demographics, such as age, gender and sources of income. These varying expectations have to be considered and applied when making an investment. As you may conclude, investing can be confusing and intimidating, especially for beginners. That is why many people turn to micro-investing since it allows potential investors to try out the market without much risk.
As technology progresses, so does this branch of finance. One upside of this continuing development of micro-investing is the opportunity that has opened for job seekers in the field. If you consider yourself to be one of them, this article can provide you with some useful information about micro-investing. Alternatively, if you are not quite familiar with the process, this article can give you some clarification, and steer you in the right direction through your job searching process.
Fintech Revolution Meets Micro-Investing
An entirely new breed of tech-savvy millennial investors meets micro-investment innovation champions that start to create an exciting digital experience in the micro-investment sector. Next-generation investment service providers like IBAN Wallet understand that traditional banking structures often are a burden for investors, as they are complicated to implement into daily life, they make it cumbersome to access direct liquidity, withdraw money on the spot, or are associated with disproportionate costs. Many people interested in investing their money might even find their perceived brands outdated and incompatible with modern (digital) life.
The new approach instead is to think with the users’ needs and experience in mind: provide an easier, safer and more profitable investment opportunity into global markets. For example, the team behind IBAN Wallet combined the goal of annual interest rates of 2.5% for a free account, with the perspective to earn up to 6% return with other products. Hence, clients can feel comfortable with a state of the art digital platform for their investment needs that helps them achieve their economic goals in the future. Almost logically, a client’s first contact with the services IBAN Wallet provides comes courtesy of the download areas from Google’s Android Play or the Apple Store.
Taking a closer look at the IBAN Wallet’s user experience, it’s easy to see that the investment banking sector’s personnel skillset will continue to shift towards digital: today’s digital early adopters demand transparency and security throughout all digital transactions, especially when it comes to their own financial investment goals.
Therefore, Iban Wallet presents its customers with a Safeguard Trust, a provisioned capital account with reserves that offers investors additional protection. Investors are guarded by 3 levels of protection, including a protective trust. Money can be deposited via credit card, SEPA transfer or via online banking. Clients can already invest from 1 €, and investing is 100% free, including transfers to and from the account. With the ongoing success of these fintech pioneers, the fintech revolution is bound mainstream.
What You Need to Know about Micro-Investing
According to Investopedia, the micro-investing platform can be defined as an application that allows users to regularly save small sums of money. Micro-investing platforms aim to remove traditional barriers to investing, such as brokerage account minimums, to encourage people to invest even if they have limited incomes and assets. By making investing simple and painless, micro-investing platforms can help people who otherwise wouldn’t accumulate savings for future investment. Taking away the risk and the high amounts needed to invest, micro-investing has allowed many to become a part of the investing market, which led to the rise in its popularity.
There are many ways to approach the investment process, but technology has allowed people to streamline the process and make it accessible. Micro-investing apps are an effective approach to investing. These apps invest small amounts of money by connecting the user’s debit card, credit card, or bank account to the app. In doing so, they bypass the fees that the user would usually pay when dealing with brokerage firms, allowing them to invest small amounts of money. Micro-investing is mostly targeted at Millenials and adjusted to their lifestyle, giving them the opportunity to make an investment using their smartphones.
Besides the aforementioned IBAN Wallet, the market is still expanding and with the constant advances in the field of technology, the limits are virtually nonexistent at this point in time. While some financial companies are yet to step into the world of micro-investing, others have already seized the opportunity and launched micro-investing apps, which gained them large popularity.
Stash is an American financial technology company offering a mobile app with micro-investing services. It aims to simplify investing and make it more accessible. The app is geared toward first-time or inexperienced investors who want to invest in small increments. It aims to simplify the investment process and make it more accessible while teaching users about finance and investing through a section on the app and a website called Learn. On the app, users can buy, sell and monitor investment funds.
Acorns bills itself as the first mobile investment application that lets the users open an account on your smartphone. Acorns will literally allow users to invest their “spare change.” Users can do this by connecting their mobile phone to bank accounts and credit cards, and the application will automatically invest their change. There is no limit to the number of accounts and credit cards they can link. The users can not only access Acorns via an app on their mobile device, but via their website as well. They can also open an account with no money.
Robinhood is a financial services company that offers the Robinhood smartphone mobile app, which allows individuals to invest in publicly traded companies and exchange-traded funds listed on U.S. stock exchanges, without paying a commission. The company earns profit from interest earned on customers’ cash balances and margin lending. Their mission was to make the financial markets more accessible, primarily by offering commission-free trades, no account minimums, and an easy-to-use mobile app. Company founders Vladimir Tenev and Baiji Bhatt, Stanford physics graduates, believed that Robinhood would motivate a new generation of would-be investors.
Job Opportunities Related to Micro-Investing
Micro-investing is a thriving field in the investment industry. Therefore, if the idea of becoming part of such a team appeals to you, and you can see yourself working in some of these companies, the following jobs will give you an idea of the types of positions on the market.
Data Engineer: In this position, you will be responsible for collecting and processing data across the company to aid in their mission to democratize access to financial markets. Data engineers are the central node of every team within the micro-investing business. As a data engineer, you’ll be interfacing with UX researchers to gain insight, Ops engineers to ensure successful deployments, and data scientists to advance the company’s product utilizing machine intelligence. A degree in Computer Science, Engineering or equivalent is desirable.
Financial Analyst: If you have a bachelor’s degree in Finance, Accounting or Maths, you should consider this career option. As part of the company’s financial team, you will help with the building budget process, and partner cross-functionally with key business stakeholders on strategic planning and forecasting initiatives. You will be responsible for delivering value-added business analyses as well as defining and reporting key financial and operational metrics that lead to insightful decision-making. In addition, you will work closely with other teams on strategic projects.
Business Development Manager: This is another attractive position in the field of micro-investing. The requirements include a bachelor’s degree in Business, Economics, or Computer Science, and exceptional interpersonal skills, as well as the ability to develop strong working relationships. As the company’s business development manager, you will shape the strategic focus and operational approach for new business initiatives, establish new vendor relationships and negotiate contract terms, build business models and forecast operational performance metrics, and so on
Aside from an interest in the financial industry and associated technological innovations, to find a job in this field you will also need a corresponding degree. European universities tend to follow the course of interest in the job market, offering a proper foundation for the future. Some useful courses at prominent universities are listed below.
- University of Padova: Information Engineering (Italy)
- University College London: Mathematics with Economics (United Kingdom)
- University College Cork: Finance (Ireland)
- Ludwig-Maximilians-Universität München: Data Science (Germany)
- Norwegian University of Science and Technology: Financial Economics (Norway)
- Swiss Federal Institute of Technology: Management, Technology, and Economics (Switzerland)
With all this information about micro-investing, you can decide whether this field of fintech suits your plans for career development. Nonetheless, the good sides of micro-investing are still to be fully recognized, and the growth of this field is yet to come.
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