For years, the complicated world of banking, lending, and investing have been a mystery to most people. But the world is changing. As we all know, technology has no qualms about disrupting old systems to make room for new and innovative solutions. Increased connectivity around the world has caused more people to come together to share ideas, build platforms, and make the world of finance more accessible to everyday people.

When asked by Benzinga what trends she saw dominate the fintech industry in 2017, Morty co-founder, Nora Apsel answered:

Transparency, democratization, and open access. The trend seems to be that people want to be informed and understand what they’re doing. They want to feel empowered and in control of their own financial health.

So, what areas of finance are undergoing some of the biggest makeovers? And how does that help Millennials obtain more financial freedom? Read on to see. 


When is the last time you went into a physical bank? And not just for an ATM withdrawal, or to change coins into bills.

Going into a physical bank has quickly taken a back seat to the innovations available to us on our computers and apps. If you find yourself only interacting with your money through an app- you’re not alone. A study by PWC found that 52% of consumers planned to use a financial tech app within the next two days. That’s up from 20% the previous year. With crowdfunding apps like Kickstarter and money sharing apps like Venmo?People find it less and less important to handle actual cash or go into brick-and-mortar bank locations.

How you benefit: Smaller credit unions, and fully online banks like Ally, are finally able to compete with larger more established banks for a piece of the pie. You get more choices and better rates.


The newest players in the game are out in full force. Blockchain technology seemingly came out of nowhere. Now, it’s the talk of the town, changing how people share, invest, and track their money. Blockchain (which encompasses cryptocurrencies like bitcoin) is extremely disruptive to the old financial system, because it evolved entirely outside of it.

Without a digital platform, there would be no blockchain technology. As younger people decide how to spend and invest their hard-earned money, cryptocurrencies are fighting for their share in the market.

How you Benefit: While regular banks use traditional currency to conduct transactions, blockchain allows cryptocurrency transactions to go through without the need for restrictions like minimum transfer amounts. While this might sound confusing, having a decentralized environment holding the data ends up being safer for international money transfers. Since your money transfers are not channeled through a third party, there are no extra fees. Plus, you can move your funds around more freely.

Lending and Mortgages

Today it is far too difficult to shop and compare different mortgage options. Variance across lenders in rates and closing costs can add up to literally tens of thousands of dollars. Not to mention the whole process can be intimidating, daunting, and frustrating. 

Morty strives to do for mortgages what Kayak and Expedia did for the travel industry, ” says Brian Faux, CEO, and co-founder of Morty. “One simple, transparent process giving you access to the best options and empowering you to make smart decisions.”

The home buying process is already becoming digitized. According to Forbes, over 95% of homes listed for sale are published online.

Companies and startups are not just ending their innovation at the home or mortgage search stage. Many platforms—including Morty—are now designed to help you through the entire process, from start to finish. 

How You Benefit: Morty’s platform aims to educate and empower homebuyers by allowing them to see how rates stack up between lenders as they shop and compare different lender products they qualify for. This allows you to choose the mortgage that makes the most financial sense for you.

As the above examples have shown, nothing in the financial sector is out of reach for a generation of people who are determined to find better solutions to their problems. Morty’s co-founder, Nora Apsel agrees. “Millennials especially seem to be establishing their own path—doing things our own way. People don’t feel the need to do things the way that their parents did, unlike generations before.”

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