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MoneyLion is enjoying a successful pivot from a neobank to what is essentially a consumer and business financial services portal and shopping mall. Among the products its “essential” consumers are buying more of from the site and app: buy now, pay later, income advances, earned wage access, secured card products and short-term installment loans.
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“We’re now building these web tools for any CMO that runs a financial institution, a bank, a lender … to actually think of MoneyLion as a channel,” he told Webster. “Just like they think of Google SEO as a channel.” He emphasized that the company’s teams are now optimizing bidding strategies and audience building on MoneyLion’s channel, similar to how they approach other major platforms.
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