May 16, 2020

Startup spotlight: pay, transact and invest with Zeux

Zeux
invest
mobile app
Frank Zhou
Amber Donovan-Stevens
4 min
FinTech Magazine continues its series on the top startups to watch this year by speaking with Frank Zhou, CEO, Zeux, the first mobile app where you can...

FinTech Magazine continues its series on the top startups to watch this year by speaking with Frank Zhou, CEO, Zeux, the first mobile app where you can pay, transact and invest in one place.
 

Hi Frank. What is Zeux?

Authorised and regulated by the FCA, Zeux is the first all-in-one money management fintech app to bring together payment functionality, zero fee foreign exchange, investment and savings options (with market-leading rates), in one smartphone experience. 

Fast, secure, convenient and reliable, Zeux has been designed to streamline the user experience for mobile banking users who are currently having to ‘flit’ between providers to check the status of their finances. 

Zeux offers instant mobile payments with Apple Pay and Samsung Pay (a physical card can be ordered in-app), and you will no longer have to accept the minimal interest rates that most banks are offering to grow your money. Zeux helps users to open investment and savings alternative accounts seamlessly, track and monitor their spending, while getting returns for their money.

 

What gives your company its competitive edge?

While the last decade has seen many fintechs create amazing and disruptive services across the financial landscape, the solutions have been independent of each other. Zeux has been built to provide a simple solution that enables users to conduct ALL financial needs within one place – you can combine payments, savings, banking and investment within one mobile app, which you monitor and track. 

A standout differentiator is the offer of a market-leading interest rate of 5% on its investment alternative account. This is 25 x higher than the interest rates offered by most high street banks. 

We’ve also brought crypto to the high street: the app also allows anyone with a cryptocurrency wallet to pay with a range of popular cryptocurrencies at ANY high street retailer that accepts contactless mobile payments, Apple Pay and Samsung Pay.

What’s more, Zeux doesn’t charge fees for local and international transfers, payments, or cryptocurrency conversion. 

 

 

What was your last major milestone / award?

In December, Zeux was formally invited to join the Mayor of London’s International Business Programme.

The ongoing project, directed by Sadiq Khan, aims to create a new image for London, by helping innovative companies enter international markets and build a global presence.

According to the mayor’s official promotional agency, London & Partners, Zeux was chosen due to its unique value proposition and its recent business traction in the FinTech field. These factors have made the city government pay more attention to innovative companies like Zeux, whilst looking forward to the advancing business atmosphere within London.

Becoming part of this Programme means that Zeux will, this year, be provided with top-level commercial resources with the assistance of the municipal government. Zeux will be able to cooperate with many industry leaders, including the European Regional Development Fund, KPMG, and Lloyds Bank. 

 

Is there any exciting news you’d like to share with our FinTech Magazine?

We are currently in conversation with FCA to ensure we remain on the safest path for our customers. 

And we have announced the launch of an investment alternative account that offers 5% interest AER.

SEE MORE: 

What can we expect from your company in 2020?

The appetite for Zeux has been huge and we are currently seeing a 60% month on month growth which is a brilliant endorsement of the one-stop app offering for users.  

We are looking at building out more market-leading products and establishing an increased number of exciting partnerships with merchants.  In addition, we are planning an expansion in to Europe in the middle part of 2020.  And watch this space for crowdfunding news!

 

About Frank Zhou

Frank Zhou is the CEO & Founder of Zeux, a former derivatives trader from leading investment banks and high frequency trading firms such as Merrill Lynch, Société Générale and Optiver. Having graduated with a Distinction in his MSc from Oxford University, Frank also holds a gold medal in the Chinese Physics Olympiad and a British Mensa membership. Frank loves a challenge in everything he does, especially when it comes to eating copious amounts of chicken — and building up Zeux.

For more information on all topics for FinTech, please take a look at the latest edition of FinTech magazine.

Follow us on LinkedIn and Twitter.

 

Share article

Jun 10, 2021

FIVE things fintechs must do to keep investors onboard

Fintech
Investment
venturecapital
AI
Brandon Rembe, CPO, Envestnet...
4 min
Fintech innovations drew in first-time investors who reshaped the markets. What new advancements will help them continue their rise?

New investors flocked to the stock market during the COVID-19 pandemic. Thirty-eight percent of investors said they had never had a brokerage or similar account before opening one in 2020.

Low or no-fee trading options have helped accelerate the trend – nearly half of new investors said they accessed their account primarily through a mobile app. As FinTechs, how do we create the trust needed to keep new investors in the market and create a fruitful customer experience for them?

The financial industry does a disservice to individual investors if we merely offer tools that focus on making money quickly, an approach that usually backfires. Instead, the surge of interest presents an enormous opportunity for those who want to help more consumers use financial technology to educate them on responsible spending, saving, and investing in order to achieve financial wellness current fintech tools have welcomed individual investors in the door.

Now, it’s time to focus on education and improving their experience going forward. There are several ways those of us in fintech can step up to shape the future of retail investing so that it works better for everyone, starting with the following areas.

Equal access to financial wellness education

Financial health should be available to everyone — but today, not everyone has the educational resources to achieve it. One study shows that only 3.9% of students from low-income schools were required to take a personal finance class. What they aren’t learning in school or from family members, fintech companies can provide on their platforms.

The companies should move from solely offering financial services to a more responsible model of education, advice, and prescriptive choices to help consumers develop better habits and make wiser financial decisions. Not only can they empower consumers and bridge historical wealth divides, but they can also stimulate growth by opening up new consumer segments.

More personalisation

Just as we’ve come to expect that our fitness routines are tailored to our individual bodies, we’re also ready for finance tools that go beyond one-size-fits-all solutions. But only six percent of financial institutions say they’re using the kind of technology that allows them to deliver a deeply personalized experience. Fintech tools need to reflect that financial success looks different for each of us.

For one consumer, it may mean providing guidance on how to pay off student loans early; for another, it may mean prescriptive actions that enable them to stick to a budget for the first time; for a third, it could look like prioritizing environmental, social and governance (ESG) investments, so that her portfolio aligns with her political beliefs.

Now, we are seeing financial technology beginning to meet the demands of personalized finance in a substantial and meaningful way.

The rise of AI-Powered Advice

Big-picture advice and predictive guidance used to be a feature of high-end financial advisory firms — a perk only available to those who could afford it. But thanks to rapid advancements in data analytics and artificial intelligence (AI), that kind of holistic advice is now more accessible than ever. AI-driven robo-advisors can parse many different streams of financial information, delivering customized answers to key questions: Is it time to buy a home, or is it smarter to keep renting? Can I afford to take out another student loan?

Intelligent connectivity powered by AI can anticipate consumers’ needs and next steps, making proactive suggestions that guide them along the path to financial wellbeing. Fintech companies can also help consumers identify when their financial picture becomes too complex for a robo-advisor, and help them find a human financial advisor to meet their needs. 

Focus on financial mental health

New investors are quickly finding that the market can be overwhelming. That’s not surprising, financial anxiety is common and studies show that financial stress can have an impact on mental health for some.

It’s not enough for fintech companies to give retail investors access; they also must provide the guidance and support that help consumers manage their financial well-being. Educational tools can ensure that consumers are well informed about their options.

Predictive analytics can anticipate consumers’ questions, serving them key information and insights before they ask. Features that emphasize a comprehensive notion of financial well-being, rather than short-term wins and losses, can also help ensure that consumers are keeping their eyes on the bigger picture.

Gamification for good

The surge of gamification apps has done an impressive job making investing as engaging as playing a video game or joining a social media platform.

Much of the current use of gamification emphasizes short-term thinking, but there’s also an opportunity to help consumers think more broadly about their overall financial picture. One example is peer benchmarking, a feature that enables help consumers to see how their financial habits compare to those of friends and fellow consumers.

Gamification can also be used to incentivize making smaller, smarter choices — for example, rewarding saving over making an impulse buy.

The future of fintech is about more than just broadening access to the markets. It’s about making sure more individuals have access to the tools that can help improve their financial well-being—in the ways that suit their own circumstances and needs. The potential to act within their own set of individual priorities, with their long-term financial wellness in mind is much more empowering to a consumer than simply relying on short-term, high-risk investments.

Share article