[August 24, 2016] |
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MoneyLion Offers Free Credit Monitoring Tools Through TransUnion®
MoneyLion, the mobile-first personal finance platform, is helping
consumers gain a clearer picture of their credit health with free credit
monitoring tools provided by credit bureau, TransUnion®. Data collected
by MoneyLion since Q1 2016 has shown that loan takers that use their
credit monitoring tools are 28 percent less likely to default.
"MoneyLion's free credit monitoring tools powered by TransUnion are
critical to our mission to help consumers take control of their
financial lives," said Diwakar Choubey, co-founder and CEO of MoneyLion.
"By offering users a 360-degree view of their finances, we're providing
real-time insight to help drive better financial behavior."
MoneyLion's credit monitoring tools allow users to:
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View their individual credit report
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Use a credit simulator to forecast the impact of financial decisions
on their credit score
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Set up real-time alerts informing users of critical changes to their
credit report
Users can access these tools by setting up a profile on the free MoneyLion
app, where enrollment takes less than three minutes. In addition to
credit monitoring, MoneyLion offers tools that track spending and
saving, balance alerts for unusual spending patterns, and a financial
network with product reviews and personalized recommendations, advice
and support.
Users enrolled in credit monitoring also have access to additional
benefits through MoneyLion's extensive rewards program designed to
incentivize positive financial behavior. Through this program, users
earn rewads such as gift cards or reductions in APRs when they take
actions to improve financial well-being, such as improving credit
scores, making on-time payments, demonstrating low credit utilization or
maintaining a positive checking account balance.
"MoneyLion is harnessing the power of sophisticated data analytics and
machine learning technology to gain sharper insights into the financial
habits of our users. This in turn enables us to make tailored offers and
recommendations that will lead to better financial health over time,"
added Choubey. "As technology continues to change the way consumers go
about their daily lives, we are meeting the need for convenient and
holistic personal financial management tools to match this increasingly
digital lifestyle."
About MoneyLion
MoneyLion is a leading mobile finance platform that empowers consumers
to take control of their financial lives through free spending, saving
and credit tracking tools, and smarter credit products. Founded in 2013
by a team of leading technologists and financiers, MoneyLion uses
superior analytics and machine learning-based risk technology to gain a
360-degree view of its users' personal finances, enabling better
underwriting and the development of tailored financial product offers.
With its built-in system of endorsements, points and rewards, MoneyLion
endorses good financial behavior. MoneyLion is headquartered in New York
with offices in San Francisco and Kuala Lumpur, Malaysia. For more
information, visit www.moneylion.com or
download the app here.
About TransUnion (NYSE:TRU)
Information is a powerful thing. At TransUnion, we realize that. We are
dedicated to finding innovative ways information can be used to help
individuals make better and smarter decisions. We help uncover unique
stories, trends and insights behind each data point, using historical
information as well as alternative data sources. This allows a variety
of markets and businesses to better manage risk and consumers to better
manage their credit, personal information and identity. Today,
TransUnion has a global presence in more than 30 countries and a leading
presence in several international markets across North America, Africa,
Latin America and Asia. Through the power of information, TransUnion is
working to build stronger economies and families and safer communities
worldwide. We call this Information for Good. http://www.transunion.com/business.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160824005560/en/
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