MoneyLion Announces America’s Most Powerful and Rewarding Financial Membership

Back to News

Membership designed to help millions of Americans identify their Financial Heartbeat and improve their overall financial wellness with new checking and investment capabilities

NEW YORK--(BUSINESS WIRE)-- MoneyLion, the innovative financial platform offering consumers a better way to borrow, save, earn and invest, today officially launched America’s most powerful and rewarding financial membership to help people take control of their finances and achieve their dreams.

In support of the most powerful financial membership, MoneyLion will be launching the Financial Heartbeat as well as a comprehensive suite of premium banking products to help everyday Americans better understand and engage with their finances.

“Over the last year, our team has been hard at work building America’s most powerful financial membership and starting today, we’re giving Americans a revolutionary new way to get ahead, ” said Dee Choubey, CEO and Founder at MoneyLion. “With the new MoneyLion Financial Heartbeat and access to the industry’s most valuable checking and investing capabilities, Americans can finally feel like they have a path to a more successful financial future.”

At a time when the majority of people have less than $2,000 in their savings account, everyday Americans are suffering. A study from AEI reported 31 percent of Americans had hardly any confidence in their financial institutions and its leaders.

MoneyLion’s Financial Heartbeat addresses this challenge by eliminating the hassles of traditional finances with a glanceable financial tracker, which encourages users to feel financially empowered and become more in sync with their money. By providing feedback and reinforcement, the Financial Heartbeat is a reflection of the hard work users put in to improve one's financial health. The Financial Heartbeat focuses on five key pillars of financial health - Save, Spend, Shield and Score - and celebrates people’s progress with Strive as they achieve their long and short-term wealth goals.

Additionally, MoneyLion is introducing a suite of banking tools to further extend its membership services and to alleviate the high fees typically associated with traditional banks. Users will benefit from zero-fee checking accounts, a debit card with more rewards, and access to over 55,000 fee-free ATMs across the US. MoneyLion is also offering members instant cash advances with 0% APR. These cash advances, up to $250, will provide users with immediate resources to address their financial needs, with no fees attached.

“With the Financial Heartbeat and newly launched MoneyLion debit card, our members now have both the GPS to navigate their financial picture as well as the banking products to avoid potholes and other costly detours,” said Tim Hong, Chief Product Officer at MoneyLion. “Together, our more than 3 million members can get the guidance they need, as well as unlock a fee-free financial future to help them focus on what matters most.”

By adding the Financial Heartbeat and suite of premium banking products, MoneyLion is providing users with the freedom from financial stress and the opportunity to better achieve their goals. This marks MoneyLion’s continued commitment to building America’s most powerful financial membership. The Financial Heartbeat will be available for customers in December and the suite of banking tools will be available starting today.

About MoneyLion

MoneyLion is America’s most powerful and rewarding financial membership, empowering people to take control of their finances to achieve their dreams. Since its launch in 2013, MoneyLion has amassed more than 3 million members and has earned its customers trust with new banking and investments capabilities that offer a one-of-a-kind rewards program, no-fee checking account, overdraft protection, and loans funded in 15 seconds. From a single app, users can get a 360-degree snapshot of their financial lives while having access to personalized tips and tools to improve their credit and achieve everyday savings. With the notion that good habits are formed over time, MoneyLion rewards users for each decision that moves them closer towards their financial goals. The success of MoneyLion relies on finding ways to make the members’ money work as hard as they do. MoneyLion is headquartered in New York City, with offices in San Francisco, Salt Lake City and Kuala Lumpur, Malaysia. For more information, visit www.moneylion.com or download the app here.

Disclosure

MoneyLion’s affiliate, ML Wealth LLC, is a Registered Investment Advisor with the SEC. MoneyLion Plus members’ investments are protected by the SIPC (Securities Investor Protection Corporation) for up to $500,000. Brokerage services provided to clients of ML Wealth by Drive Wealth LLC, a member of FINRA/SIPC. Other services provided by our affiliates including ML Plus, LLC. This communication and all data are for informational purposes only and do not constitute a recommendation to buy or sell securities. Past performance is no guarantee of future results. Keep in mind investing involves risk. The value of your investment will fluctuate over time and you may gain or lose money. Nothing in this communication should be construed as an offer, recommendation, or solicitation to buy or sell any securities or services.

Grayling Public Relations
Tim Black, 415-593-1999
moneylion@grayling.com

Source: MoneyLion

Released October 22, 2018