FloatMe Clone: Become a top player in the Fintech industry

Managing money is one of the important tasks of everyone’s life. As a person grows older, his/her anxiety around personal finances increases. The headache is severe for those who have multiple bank accounts, credit and debit cards. Uncertainty like health emergencies also forces us to spend huge amounts on recovery and rehabilitation.

This is where an overdraft is highly beneficial. It is financial assistance provided to both current and savings account holders by banks and fintech companies when they have a very low balance. Customers utilize it to pay off their emergency bills.

Users will have to repay the overdrawn amount along with a fixed interest rate after a certain period. They also need to submit collateral like equity holdings, fixed deposits, life insurance policy, property, and salary to avail the overdraft loan.

How is the FloatMe app highly different when compared to banks?

It offers up to $50 for users – for a few days. Customers need not pay an advance to get emergency cash assistance. Additionally, they do not need to pay any interest or registration fees. Users can withdraw $50 to their bank account and debit card.

Members of the FloatMe platform receive timely alerts – to repay their dues. This prevents them from falling into the vicious cycle of debt when they borrow above a specific limit. Moreover, it provides users with – real-time savings monitoring tools and shares useful financial tips to avoid overspending. The Unique Selling Point (USP) of the FloatMe App is – that customers need not submit their credit score nor undergo any verification to get funds.

The American Fintech startup also received – a $3.7 million equity investment in December 2020 from a group of venture capital companies. This fresh funding will be used to expand the scope of business operations, hire more employees, and launch new financial products for customers.
FloatMe formed a $25 million financing agreement with – KSD Capital this month to offer more Fintech products for millennials (25 to 40 years). Overall, the American platform has saved $30 million in overdraft fees for users since its launch in February 2020.

Users can utilize emergency cash support – for various purposes like paying off bills, rent and purchasing groceries. Frauds are prevented on the FloatMe app – as there is a thorough background verification of the data of users. Customers have to submit information like their current bank account balance, debit card number and validity, form W-2 (Internal Revenue Services tax statement), income statement, and proof of employment (Direct Deposits forms issued by employers).

Entrepreneurs looking to dominate the global financial services industry can collaborate with AppDupe for fabulous FloatMe clone app development. Our trained developers will create user-friendly Android and iOS apps for customers.

An advanced admin dashboard will help in controlling the day-to-day business operations. A modern web panel assists in sharing the latest information about new features and services with users.

What are the fantastic features of our FloatMe Clone App?

Sharing of Overdraft risk alerts – Users can link their bank account on the FloatMe clone. They get real-time alerts when their balance is very low. Customers can apply for an Overdraft based on their spending pattern and requirements. The Overdraft risk will be categorized either as high or low.

Instant Floats – Emergency cash assistance is provided from $10 to $50 to users. Customers click the “Float me cash” button to get a specific amount directly credited to their bank account or digital wallet.

Availability of Insurance – Customers get insurance of up to $250,000 backed by the Federal Deposit Insurance Corporation (FDIC). It is available on FloatMe Stash, an automatic savings tool. Users of FloatMe can increase the amount present in their Stash by depositing a certain percentage of their monthly salary.

Tips for receiving an advance – Members of the FloatMe clone script who get overdrafts regularly can build a strong savings account in a quick time. Users can add funds to their Emergency Stash by pressing the Recurring Savings option. Moreover, they receive a nominal tip for every new overdraft.

FloatMe monthly subscription plan – Regular customers can purchase the FloatMe monthly membership plan. They receive benefits like free FloatMe stash, greater emergency cash assistance, priority issue of overdrafts, and sharing of tips by well-versed financial experts. New users can try the FloatMe plan for free in a 30-day trial. They can purchase the membership, get some cash, and also cancel it anytime according to their convenience.

Implementation of AES-256 – Our FloatMe app clone safeguards all the financial data of users with the Advanced Encryption Standard (AES-256). Hence, customers get a high level of security and trust as there are military-grade encryption measures.

Access to analytical reports – Customers make the best decision when using overdrafts by viewing the analytical reports. It contains details of cash flow (amount earned and money spent) every month.

Exclusive partnerships with banks – Users can also get more loans from the leading banks like the Bank of America, Chase Bank (JP Morgan), Navy Federal Credit Union, United Services Automobile Association (USAA), and Wells Fargo.

A modern Content Management System (CMS) – Entrepreneurs can publish insightful financial articles and blogs written by experienced professionals. Users will become familiar with the terms and conditions of the FloatMe emergency stash and overdrafts by checking the CMS regularly. Customers receive tips on topics like budget management, savings, and taxes.

Provision of 24×7 customer support – Technical support is available to users round-the-clock via email, live chat, and phone. Hence, all the financial grievances and issues are resolved quickly by the dedicated staff at the Help Centre.

What is the budget allocated for FloatMe Clone App Development?

The cost for creating a Fintech app like Floatme is divided into multiple stages. Separate expenses are paid for business analysis, market research, creation of the user interface (UI), establishing the prototype, front-end and back-end development, testing, launching the solution, and conducting aggressive digital marketing campaigns.

Moreover, we also impose some extra costs from entrepreneurs if they use services like API integration, bug fixing, maintenance, software updates, and technical support.

Wrapping Up

There is no doubt that the FloatMe platform has proved to be a big boon for students and working professionals. Customers can enhance their financial situation by getting emergency stash and overdrafts frequently. This is very convenient when compared to the high-interest rates charged by banks and moneylenders. Hence, boost your stake in the global financial services industry by partnering with AppDupe for Floatme clone app development.

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Marketing is my soul mate and writing is my side kick. Using my writing skills to share the knowledge of app development and upcoming technologies.