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MoneyLion's "financial heart" is helping consumers monitor the real-time state of their finances in the same way that a Fitbit or EKG monitor would monitor their health, effectively giving a measure of their financial stress. The company has also announced it has launched a version of its product that employers can offer to employees.
“That financial heart is effectively like a Fitbit or an EKG monitor for your finances,” said Dee Choubey, CEO and founder of MoneyLion. “We measure our steps and our heart rate, but we never measure financial stress. Our first value proposition to our consumers is, let’s quantify the level of financial stress you’re undertaking and make money more approachable.” The app then helps to reduce financial stress, he said. MoneyLion tries to build a complete financial picture of a consumer’s financial behavior and assets, with the help of data aggregators, and use that data to recommend action steps.
https://www.ecommercedailynews.com/facing-consumers-fears-how-fintechs-target-money-anxiety/
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