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MoneyLion Enhances Product Line with New Suite of Tools to Help Consumers Manage and Improve Their Financial HealthMobile personal finance and consumer lending platform, MoneyLion, today launched new features designed to make the financial goals of its 1 million-plus users easier to achieve. As part of the launch, MoneyLion also redesigned its website and mobile app. "Our mission is to bring our users closer to their financial goals by making money more approachable," said Diwakar Choubey, CEO and co-founder of MoneyLion. "These new features address the widespread need among consumers for smarter tools that simplify and personalize financial advice, all the while making it easier to build better habits and make good financial decisions more consistently." MoneyLion is launching its new features to address the financial challenges consumers face today. A Federal Reserve study showed that 46 percent of Americans don't have $400 saved for an emergency, and two-thirds of Americans were unable to pass a financial literacy test according to another study. MoneyLion's new features have been designed to help users overcome these challenges by simplifying their day-to-day relationship with money and making it easier to build positive, sustainable financial habits. MoneyLion has introduced the following new app features in a refreshed interface to help reduce the friction consumers face when it comes to their finances:
"We're using AI and machine learning to power a uniquely personalized experience that helps simplify the complexity of finances. Through these updates, we aim to help our users prevent more immediate roadblocks, like overdraft fees or late payment fees, which tend to have lasting implications on their finances down the road." These latest updates build on the financial progress and behavioral changes users have already made with MoneyLion. According to data collected in 2016, MoneyLion has helped its users improve their financial health in the following ways:
MoneyLion is available on Android (News - Alert) and iPhone from Google Play and the App Store. ABOUT MONEYLION MoneyLion is a leading mobile personal finance and consumer lending 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 referrals, 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.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170526005358/en/ |