BANKS ARE ‘MISSING A BEAT’ WITH MILLENNIALS, SAYS CO-FOUNDER OF FINTECH STARTUP FINCH

Having recently graduated from leading US fintech program, Envestnet Yodlee Incubator, Melbourne-based start-up Finch has today launched its first offering to the Australian market – a social payment app that gives millennials a clearer picture of their spending habits.

Shahirah Gardner, who co-founded Finch with her husband Toby Gardner and their friend Eric Kuhn in 2016, spoke to Dynamic Business about challenges associated with launching the app, which is available for free download in Australia (iOS/Android), and her belief that traditional banks are ‘missing a beat’ when it comes to millennials. 

DB: What is the elevator pitch for Finch?

Gardner: Finch (short for ‘finance made cinch’) is a financial app that removes those awkward money moments that arise in one’s social life, whether that’s being left out of pocket by a ‘forgetful’ friend or a flaky housemate, having to calculate who had what at a restaurant or tracking expenses across a group (without an excel spreadsheet!).

Specifically, the app allows users to pay and request money instantly (without a BSB), split bills, run tabs in groups to track shared expenses (perfect for housemates/roommates) and – in the comings months – receive actionable insights to improve spending and saving habits. Over time our goal is to provide personalised, data driven recommendations. Read more

James Harkness – Dynamic Business – 12 July 2017