Future of Investing

Stash rolls out new features, further blending lines between banking and investing

  • Stash's popularity with users comes first from its savings features.
  • By making it easier to save, Stash can deploy more client money into investments.
close

Email a Friend

Stash rolls out new features, further blending lines between banking and investing
Microinvesting app Stash just launched a new feature set that looks awfully similar to a banking app. Stash introduced a series of features primarily aimed at helping its users put savings on autopilot. Now, when customers spend using their Stash app, Stash will round-up the purchases to the nearest dollar. Once the round-ups total hits $5, Stash will transfer the spare change to the customer’s personal investment account. In addition to Round-Ups, the company rolled out Smart-Stash, which analyzes a user's spending  and earnings patterns to test for a build up in cash. If certain thresholds are hit, Stash will automatically move money into savings. The company also introduced a cash-back feature. Stash has over 3 million users. "It’s not just about a feature set," said Brandon Krieg, CEO & co-founder of Stash. "Helping people get started saving, in whatever way is most convenient for them, has been core to our mission. By automating saving tools -- whether Cash Back, Round-Ups or Smart-Stash  -- STASH customers can save more money and invest for a better financial future.” Rival Acorns has long used a round up feature to encourage its users to save more. Investing apps that target the average Joe have learned that the lack of stock market participation in America isn't an investing problem -- it's a savings problem. If you can encourage users to save for their futures by automating the proper behavior, it's much easier to deploy this money into investments. So, it's no surprise that Stash rolled out bank accounts last year. Its new cash optimization tool Smart-Stash is similar to the feature Betterment introduced in December 2018. Popular millennial investing app Robinhood clumsily announced a banking product recently, too. Meanwhile, fast-growing banking apps like Revolut, N26 and Chime have introduced or will soon introduce investing features to their banking customers. In a recent webinar with executives from these firms, Tearsheet learned that the product roadmaps for these challenger banks include more investment features. The underlying message is clear: if you can help users save more, they'll invest more.

0 comments on “Stash rolls out new features, further blending lines between banking and investing”

Future of Investing

Philosophical Switch: Wealthfront introduces stock investing and plans to build investing habits for the long run

  • Stock trading by small investors is on the up and up.
  • Just in time Wealthfront has launched the option to invest into individual stocks exemplifying a philosophical switch in its robo-advisor business model.
Rabab Ahsan | March 23, 2023
Future of Investing

‘Would you rather talk about your weight or your money to your friends?’: Acorns’ Kennedy Reynolds

  • In 2021, 60% of Americans couldn't pass a basic financial literacy test.
  • Financial platforms consider it their responsibility to educate customers and offer the tools to help them make good life decisions.
Subboh Jaffery | March 07, 2022
Future of Investing, Member Exclusive

AT&T’s Cricket Wireless strikes partnership with Acorns to bring investing to its subscribers

  • Cricket Wireless and Acorns are teaming up to bring investing to more people.
  • With the Acorns app pre-installed on new handsets, Cricket customers also receive monetary incentives to use the investment app.
Zachary Miller | August 06, 2021
Future of Investing, Member Exclusive

‘Lots of music involved, too!’: A day in the life of Chidi Achara, CCO of Stash

  • Consumer interest in investing is taking hold. And for investing apps, that means sharpening their marketing game to reach their target audience.
  • Leading Stash’s marketing initiatives is Chidi Achara, chief creative officer at Stash. Here’s a day in his life.
Rivka Abramson | August 02, 2021
Future of Investing, Member Exclusive

Behind Betterment’s partnership with Zenefits to give SMBs access to retirement planning

  • Betterment’s technology led 401(k) provider teamed up with HR software company Zenefits.
  • Zenefits SMB customers will gain access to Betterment’s retirement planning and financial wellness offerings.
Rimal Farrukh | April 21, 2021
More Articles