Just a decade ago, investment, online banking, and credit card were concepts only accessible to a select few. But with the fintech revolution, all of it and more is accessible right through mobile phones.
Today, there’s a fintech app for your every need, from online payment, and banking management, to digital cards, and so on. Consequently, the Fintech market is worth billions, with companies generating millions in profit.
Though there are 100s of millions of users across the world using these solutions, most of them suffer from one big issue: “Poor Financial Management”
Well, I’m sure you can relate to it, since a lot of us just don’t know how to save money and invest, not to lack trying though.
But what if we told you, there was a solution to this issue? This is where the popular MoneyLion app comes in.
Being one of the most popular fintech apps in the market, this platform has inspired many businesses to create fintech apps of their own. So, what’s the success story of the MoneyLion App? What does it do? and why do people love it?
In this blog, we shall be answering all of these questions. Therefore, let’s get right into it:
MoneyLion Fintech App: America’s Leading Digital Financial Platform
There are high chances you are already familiar with MoneyLion. However, there are many who don’t.
In fact, 93% of MoneyLion Plus members are investing for the firsttime. But there are over 2 million Americans using money lion.
This begs the question, what is a moneylion, exactly?
MoneyLion is a financial technology company that offers a range of financial products and services to help consumers manage their money and improve their financial well-being. The company was founded in 2013 and is headquartered in New York City.
And let us tell you, this app is the best example of what modern fintech app developmentshould be.
The platform as a whole offers a range of products and services including personal loans, credit monitoring, credit builder loans, investment accounts, and a mobile banking app that includes a checking account and debit card. Plus, the app also includes tools to help users track their spending, create a budget, and save money.
In addition to this, this fintech mobile application also comes with a premium membership program called MoneyLion Plus, which provides additional benefits such as cashback rewards and access to a low-interest credit builder loan.
Overall, MoneyLion aims to help consumers make better financial decisions and achieve their financial goals by providing them with access to a variety of financial products and services in one place.
So, how does the platform work? Let’s look at apps’ work.
What Does it Do? Moneylion working
Being a personal finance management app, MoneyLion is really easy to use and has helped millions of people improve their financial habits. And in this section of the blog, we shall be discussing exactly that.
- SignUp: Users can sign up for MoneyLion through its website or mobile app. The sign-up process is quick and easy, and users are asked to provide basic information about themselves, such as their name, email address, and phone number.
- Create an Account: Once users sign up, they can create a MoneyLion account. This account gives them access to a range of MoneyLion features, including a free checking account, a debit card, and a range of financial tools and resources.
- Link Bank Accounts: To take advantage of MoneyLion’s features, users can link their bank accounts to the platform. This allows MoneyLion to track their spending habits and offer personalized financial advice.
- Access Financial Tools: MoneyLion offers a range of financial tools and resources, including a free credit monitoring service, investment accounts, and personal loans. Users can access these tools and services through their MoneyLion account. This is what makes the platform stands out from the rest of eWallet app development services.
- Earn Rewards: MoneyLion users can earn rewards for taking certain actions, such as setting up direct deposit or making on-time loan payments. These rewards can be used to offset the cost of certain MoneyLion products and services.
Overall, MoneyLion is designed to help users take control of their finances and achieve their financial goals.
By offering a range of financial products and services, as well as personalized financial advice, The fintech app aims to make personal finance more accessible and manageable for everyone.
How MoneyLion Fintech App Came To the Limelight? Key Milestones
The success story of MoneyLion is an inspiring one. Though the story is not wrapped up yet, the platform has reached many milestones in its journey.
In this section of the blog, we shall be discussing the MoneyLion fintech company’s milestones covering everything from funding rounds to
- Funding
MoneyLion has raised over $400 million in funding to date from investors including Edison Partners, Greenspring Associates, and Capital One.
These numbers have convinced many businesses to hire mobile app developers they create their own fintech apps like MoneyLion.
- User base
The MoneyLion app has been downloaded over 10 million times and has over 7 million registered users.
- Awards and recognition
MoneyLion has been recognized by a number of publications and organizations for its innovative approach to personal finance.
In 2019, the company was named to the Forbes Fintech 50 list and won the Benzinga Fintech Award for Best Personal Finance Platform.
- Product offerings
MoneyLion has expanded its product offerings over time, including the introduction of a subscription-based service called MoneyLion Plus, which offers members access to credit-building loans, financial advice, and other benefits.
- Partnerships
MoneyLion has formed partnerships with a number of companies in the financial services space, including TransUnion, NFP, and S&P Global.
Why Everyone Loves MoneyLion!
Millions of people are using MoneyLion and thousands of businesses have contacted fintech app development company, saying they want to create their own personal financial management app.
But why? What makes MoneyLion Fintech App everyone’s favorite? In this blog, we shall be discussing exactly that.
- No fees
MoneyLion doesn’t charge any fees for its basic services, such as checking and savings accounts, which is a big draw for many people who are looking for ways to save money.
- Cashback rewards:
MoneyLion offers cashback rewards to its users for using the app and making purchases through its partner merchants. This can help users save money and earn rewards for their spending.
- All-in-one financial platform
MoneyLion is mobile app development done right. Being an all-in-one financial platform that offers a range of financial services, including checking and savings accounts, loans, investing, and credit monitoring. This means that users can manage all their financial needs from one app, making it convenient and efficient.
- Personalized financial advice
MoneyLion offers personalized financial advice to its users based on their spending habits, credit score, and financial goals. This can help users make more informed financial decisions and improve their financial situation over time.
- Easy to use
The MoneyLion app is user-friendly and easy to navigate, making it accessible to a wide range of users, including those who are not tech-savvy.
Conclusion
MoneyLion Fintech App is the best personal finance management and investment platform you can get your hands on today. Being almost a decade old, the platform rose to success with a promise of innovation and better financial management. As such, the success story of MoneyLion has inspired many. And if you want to create your own version of MoneyLion, it’s highly recommended that you consult an on-demand app development company.
