In the Balance: Insights from Collaborative Financial Technologies

Financial technologies have reshaped how many individuals manage daily financial activities, introducing new ways to interact with traditional financial products. Given the swift adoption of these technologies, shared language and conceptual frameworks are needed to better represent emerging methods of financial collaboration, hopefully leading to informed design and research. We provide the first in-depth analysis of 31 consumer-facing financial applications that provide support for budgeting, payments, and long-term planning to identify how sharing is mechanized at the system level. Our analysis offers sharing dimensions and patterns that depict the diversity of how existing applications support, or actively hinder, participation in financial sharing. Reflecting on our analysis, we highlight the need for more granular information for consumers and advocates to promote healthy financial sharing practices.