![]() What's the market size of the PFM industry? Two white-label PFM software providers that Insider Intelligence discusses in its Personal Finance Management Distributors report are Meniga and Strands. White-label software providers: White-label banking allows financial companies, usually incumbent banks, to integrate PFM software from a third-party directly into their platforms, so that customers can refine how they manage their finances. ![]() Some of the top competitors in the digital wealth management space include: Personal Capital, Nutmeg, and Lending Club. Digital wealth managers may use a hybrid model, meaning they integrate human advice with robo-advisor responses to enhance the customer relationship. Digital wealth managers: Otherwise referred to as robo-advisors, digital wealth managers use technology such as AI algorithms and machine learning to help consumers better understand their financial health and manage investment decisions.And with 40% of respondents to an RFi survey indicating that they find PFM solutions offered by nonbanks to be more useful than those offered from their bank, these digital providers stand to gain major traction in the PFM industry. Neobanks: Chime, N26, and Revolut are some of the top neobanks offering personal finance tools built directly into their mobile applications and websites. N26 is one of the top neobanks competing in the PFM space.
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