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MoneyLion has invested in a broad line of products and solutions that now include embedded finance. Traditional banking customers are looking outside of their banking networks and gravitating toward platforms to gain access to financial services.
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“When we were a monoline company you had to have a bank account to be in that ecosystem,” Choubey said. “That’s the fundamental thing that we’ve changed over the last three years. Now you can be a MoneyLion customer and you don’t have to have a bank account with us to search for personal loans, credit cards, mortgages, earned wage access and other financial bundles.”
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