NU - 3 No-Brainer Digital Banking Stocks to Buy With $500 Right Now
2024-02-16 05:10:00 ET
Banking is a centuries-old industry. In America alone, the financial system spreads across thousands of banks and credit unions of all shapes and sizes. Many of those banks operate traditionally with very analog interactions. But that doesn't mean that technology isn't steadily making its way into how people spend, save, and move their money.
For instance, digital banks have popped up in recent years. Banking online gives people more access to banking services, especially for people in less-developed economies who have trouble accessing a traditional bank. Additionally, younger consumers gravitate toward digital apps and mobile banking instead of going to traditional brick-and-mortar branches like past generations.
SoFi Technologies (NASDAQ: SOFI) , Block (NYSE: SQ) , and Nu Holdings (NYSE: NU) may pale in comparison to megabanks like Bank of America or JPMorgan Chase , but their growth shows that these tech-based financial institutions could become significant competitors in the future. That's why investors should have these three digital banking stocks on their radar.
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3 No-Brainer Digital Banking Stocks to Buy With $500 Right Now