The Irish fintech scene goes from strength to strength, as this map, by the guys at Fintech Ireland, shows.  And Moneycube is doing its bit to introduce technology into the investing process.

But what does the buzz about financial technology mean for your savings, investments and pension?  Here’s Moneycube’s guide to how fintech is changing investing in Ireland.

Get started with smaller amounts

It’s not long since investing was a closed shop.  Unless you had something north of €10,000 to put away, it wasn’t an option.  As technology drives down the costs of getting information, processing orders and making payments, it’s never been easier to start small.

In the UK, it’s now possible to invest from £1.  From Moneycube’s perspective, that is too little to justify the customer’s effort.  But we believe investing from €250 per month is a great option for many.

Better control over your money

Fintech makes it easier to stay close to your money.  Forget making appointments, and queueing at the bank.  At Moneycube, it’s now possible to receive financial advice and arrange your investments online.

Gone are the days where you were forced to wait for an annual statement in the post.  Real-time valuations are where it’s at (even if not everyone’s figured that out yet).  And the more switched-on advisors offer you the ability to buy and sell investments online.

Fintech is driving down the costs of investing in Ireland

Costs can really eat into your investment returns, as this chart shows.  But financial services can be delivered more efficiently, because information-gathering, investment advice and stock-picking are being automated.

So costs must come down.  It’s now possible to access a diversified investment portfolio at annual fund management charges of 0.5% in Ireland.

The greatest innovation is nothing new

But the biggest effect of fintech in Ireland is simple: access to information.  Apps from Rubicoin, MyFutureNow’s pension tracker, and Moneycube’ blog – to take a handful of examples – are dedicated to informing the Irish consumer and democratising investment.

You can get more information and access more investment opportunities than ever before. That makes it easier for you to take charge of your money.

Fintech is changing investing in Ireland – and there’s more to come.  Keep watching this space as Moneycube and others drive innovation in the Irish investment scene.


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By investing €400 a month you could save €27,900 in 5 years

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Note: This is an initial indication to help you picture your money. Remember that with investments it is not possible to know for certain what returns you will achieve. Please note the investment warnings at the bottom of the page. This is the approximate before-tax return on an investment which grew at 6% over 5 years.


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How to get started investing in Ireland