FinTech Collective portfolio company, MoneyLion, is helping users on its mobile-first personal finance platform to gain a clearer picture of their financial health with free credit monitoring tools. Data collected so far indicates that loan takers using MoneyLion credit monitoring tools are 28% less likely to default.
“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.”