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Time spent in fintech app increase by 55% in US during lockdown

By Pot Project | Pot News | 8 May 2020

More and more people, all over the world, are turning to mobile apps in the fintech sector, looking for the most efficient method to manage assets and invest safely.

According to App Annie's calculations, a typical week of USA during lockdown, from April 12th to 18th, the time spent on finance apps has increased by 55%:

Numbers that are less important compared to the fact that this percentuage is 90% and 85% of South Korea and Japan.


Right now it is necessary to monitor better our spending capacity and review our income and expenses: for this reason more and more people, all over the world, are turning to mobile apps in the fintech sector, looking for the most efficient method to manage assets and invest with confidence..but not with a high return.

 The "light investment" of the fintech apps


So the solution is to stop investing? Yet keeping money under the proverbial mattress is a strategy that has obvious limits, especially in the event of loss of the purchasing power of families. Here, therefore, that the apps come to the aid of those who, perhaps, want to commit limited figures, with tap-friendly methods ranging from fractional actions to portfolios with residual increase, such as Oval or Gimme5, which are based on a very simple concept: invests little by little, when you have a few euros more, without haste and above all without having to face minimum investments in the order of thousands of euros.

To all this must be added the success of mobile banking due to social distancing and the increasingly lesser appeal of going to the counter in person, to face queues of tens of meters given the rules that limit the entry of customers into businesses and branches.

Also in the United States, in March the time spent on the top 10 apps for online trading increased by 80%.


Significant in recent days was the success of Stash, the New York startup that managed to raise $ 112 million in funding: figures that would normally not be so unusual, but that with the uncertainty of the pandemic stand out, especially considering that the objective of Stash is to allow consumers to enter the world of investment in a "light" way.

Other success stories such as Acorns, Robinhood - which, with its zero commission investments, literally triumphed in the fintech sector during the lockdown: + 260% in the time spent), Kabbage, YieldStreet and, also in Italy , Revolut, which in recent months has introduced the possibility of trading (without commissions, with 8 free monthly trades with the Premium version and unlimited with the Metal version) and even buying gold.

Without intermediaries and with a tap: the economic crisis is also addressed in this way.

Investing in Fintech app today according to Warren Buffett

Warren Buffett spoke on the matter a few days during his company's annual shareholders' meeting, Berkshire Hathaway. Buffett, by far one of the richest men in the world, has always shown a remarkable cold blood in reacting to market crises, not least that caused by subprime mortgages in 2008, but this time his optimism seems decidedly more dampened.

At the moment Buffett prefers to maintain a gigantic reserve of liquidity (in the order of 137 billion dollars) without investing them, because in his opinion the worst case scenario is not yet averted and, above all, one has yet to imagine.

But the big news is that Buffett even sold at a loss, a real event for those who know the way the financial wizard works (who almost always "holds on" keeping the shares that fall in the portfolio and if anything buys when they are at a minimum) : in this case, it was a matter of investments in American airlines, Delta, Southwest, United and American.

In short, air transport will change, for many months it will be downsized, and for this reason Buffett has decided to take his capital elsewhere.

In addition, there is the very low price of oil to be calculated, which leads to an ever lower extraction convenience, given that the sale risks not even paying the costs. In short, even for a solidly confident investor like Buffett, nothing like this has ever been seen, and the economic repercussions are still largely unknown.

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