- Acceleration of revenue and profitability growth through
product-line expansion, diversification and customer
acquisition
- Increased efficiency in acquisition, personalization
at-scale and digital platform deployment
LONDON, Feb. 6, 2024 /PRNewswire/ -- The EY organization
today announces an alliance between MoneyLion Inc. (NYSE: ML), a
leading enterprise and consumer FinTech company, and Ernst &
Young LLP (EY US), to help drive innovation and growth within the
banking sector.
The Alliance leverages MoneyLion's embedded finance platform to
help enhance the technological capabilities of traditional banking
institutions. By doing so, the Alliance aims to simplify and
streamline the transition into the digital realm, assist these
institutions in overcoming the challenges of an increasingly
fragmented financial landscape and help facilitate their ability to
offer a wide range of financial services to consumers through an
efficient, user-friendly digital platform.
With MoneyLion's embedded marketplace infrastructure and
technology, data insights and content solutions combined with EY US
teams' existing core-banking modernization offerings and Nexus for
Banking Platform, the Alliance is designed to provide a
comprehensive suite of FinTech solutions to help scale acquisition
strategies and service models as well as foster organic growth and
engagement within financial institutions' customer base.
Nikhil Lele, Financial Services
Consumer Banking Leader and EY-MoneyLion Alliance Leader, Ernst
& Young LLP, says:
"We are thrilled about the EY-MoneyLion Alliance's potential to
transform the banking and financial services industry. Our Alliance
brings together deep experience of EY US in technology integration
with cutting-edge solutions from MoneyLion, launching a new
enterprise strategy for the industry. This will help empower
smaller or more traditional banks to scale rapidly and profitably
with integrated digital financial solutions."
Dee Choubey, Founder and CEO of
MoneyLion, says:
"Our Alliance with EY US represents not only a stride in
innovation but a continued commitment to transforming the banking
and financial services industry. With the combined strength of
MoneyLion's technology and experience, we are setting a new
standard for what banks and financial institutions can achieve and
helping them change the way they engage with and cater to the
evolving needs of today's digital consumer. This marks the
beginning of a more adaptive, responsive and customer-focused
banking experience, where technology and human-centricity go
hand-in-hand to create a seamless financial experience for every
user."
For more information, visit ey.com/alliances.
About EY
EY exists to build a better working world, helping to create
long-term value for clients, people and society and build trust in
the capital markets.
Enabled by data and technology, diverse EY teams in over 150
countries provide trust through assurance and help clients grow,
transform and operate.
Working across assurance, consulting, law, strategy, tax and
transactions, EY teams ask better questions to find new answers for
the complex issues facing our world today.
EY refers to the global organization, and may refer to one or
more, of the member firms of Ernst & Young Global Limited, each
of which is a separate legal entity. Ernst & Young Global
Limited, a UK company limited by guarantee, does not provide
services to clients. Information about how EY collects and uses
personal data and a description of the rights individuals have
under data protection legislation are available via ey.com/privacy.
EY member firms do not practice law where prohibited by local laws.
For more information about our organization, please visit
ey.com.
This news release has been issued by EYGM Limited, a member of
the global EY organization that also does not provide any services
to clients.
About MoneyLion
MoneyLion is a leader in financial technology powering the
next generation of personalized products and content, with a top
consumer finance super app, a premier embedded finance platform for
enterprise businesses, and a world-class media arm.
MoneyLion's mission is to positively change people's financial
path by rewiring the financial system and empowering them with
greater financial literacy and access. In our go-to money app for
consumers, we deliver curated content on finance and related
topics, through a tailored feed that engages people to learn and
share. People take control of their money life with our innovative
financial products and marketplace - including our full-fledged
suite of features to save and invest - seamlessly bringing together
the best offers and content from MoneyLion and our 1,000+
enterprise partner network, together in one experience.
MoneyLion's enterprise technology provides the definitive
search engine and marketplace for financial products, enabling any
company to add embedded finance to their business, with advanced
AI-backed data and tools through our platform and API. Established
in 2013, MoneyLion connects millions of people with the
financial products and content they need, when and where they need
it.
For more information about MoneyLion, please visit
www.moneylion.com.
For information about Engine by MoneyLion for enterprise
businesses, please visit www.engine.tech.
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