NEW YORK, May 13, 2021 /PRNewswire/ -- MoneyLion, an
award-winning, data-driven, digital financial platform, today
announced a partnership with leading insurance broker NFP to
provide MoneyLion members with direct access to insurance and
financial wellness offerings that can help support their financial
journey.
The partnership, powered by NFP's InsurChoice program, enables
MoneyLion members to shop for and buy industry-leading insurance
products and solutions through MoneyLion's all-in-one financial
platform, where they already bank, borrow, save and invest.
With today's announcement, MoneyLion also introduced MoneyLion
Marketplace, a platform which matches MoneyLion members with
category-leading brands, offers and value-add resources that are
tailored to their personal needs.
Nationwide, one of the strongest, diversified, Fortune 100
insurance and financial services companies, will be the first
insurance provider available to MoneyLion members via NFP and
through the MoneyLion Marketplace platform.
"Knowing what type and how much insurance to buy can be a
daunting experience for many people, and yet it is a critical
foundation for any financial plan," said Dee Choubey, MoneyLion co-founder and
CEO. "As a leader in digital technology, insurance
underwriting and customer service, Nationwide is a natural fit to
help our members evaluate the insurance options that are right for
them."
MoneyLion members will be able to get a quote quickly and easily
for a range of Nationwide insurance products and, in some
instances, lower their expenses, all through the MoneyLion app.
"Meeting the customer where they are is an important focus in
Nationwide's strategy and key to our innovative partnership with
NFP and MoneyLion," said Gary
Douglas, president, Nationwide National Partners.
"Partnering with NFP to provide a digital solution utilizing
MoneyLion's Marketplace will enhance the customer experience and
attract consumers who want to quickly and simply quote and purchase
insurance online."
"MoneyLion's focus on introducing innovative solutions aligns
well with our efforts to help clients solve problems and enhance
outcomes," said Brett Woodward,
Managing Director of NFP Personal Risk. "Through this partnership,
we'll be able to leverage the MoneyLion Marketplace platform to
connect the needs of clients with a range of solutions through an
easy-to-use interface. This is a great combination of expertise,
innovation and collaboration that delivers meaningful value to
MoneyLion members."
Introducing MoneyLion Marketplace
MoneyLion Marketplace extends the range of tools and services
available for members to seamlessly access through the MoneyLion
platform, making it easy to manage their financial lives through
the convenience of a single digital app.
MoneyLion's AI-powered fGPS® technology provides members with
personalized financial guidance. This individualized guidance will
eventually link directly to MoneyLion Marketplace to help members
find highly-relevant partners and offerings when they need it most
and are seeking solutions to achieve their financial goals.
"We want to use the power of technology and our all-in-one
platform to meaningfully match our members with industry-leading
providers and personalized offerings that can help them manage
their financial needs today and plan for tomorrow," added
Choubey.
The introduction of MoneyLion Marketplace and partnership with
NFP builds on the company's recent momentum. In October 2020, MoneyLion announced a partnership
with NFP Ventures to provide NFP's employer clients with access to
MoneyLion's full suite of financial tools.
As previously announced, on February 12, 2021, MoneyLion
entered into a definitive agreement with Fusion
Acquisition Corp. (NYSE: FUSE), that will result in MoneyLion
becoming a publicly listed company in the first half of 2021,
subject to the satisfaction of customary closing conditions.
Become a MoneyLion Marketplace Partner
Companies interested in joining the MoneyLion Marketplace
platform can visit moneylion.com/partners for more information.
About MoneyLion
MoneyLion is a mobile banking and financial membership platform
that empowers people to take control of their finances. Since its
launch in 2013, MoneyLion has engaged with 7.5 million hard-working
Americans and has earned its members' trust by building a
full-service digital platform to deliver mobile banking, lending,
and investment solutions. From a single app, members can get a
360-degree snapshot of their financial lives and have access to
personalized tips and tools to build and improve their credit and
achieve everyday savings. MoneyLion is headquartered in
New York City, with offices in
San Francisco, Salt Lake City, Sioux Falls, and Kuala Lumpur, Malaysia. MoneyLion has achieved
various awards of recognition including the 2020 Forbes FinTech 50,
Aite group best digital Wealth Management Multiproduct offering,
Finovate Award for Best Digital Bank 2019, Benzinga FinTech Awards
winner for Innovation in Personal Finance 2019 and the Webby Awards
2019 People's Voice Award. For more information, please visit
www.moneylion.com or download the app.
About Nationwide
Nationwide, a Fortune 100 company based in Columbus, Ohio, is one of the largest and
strongest diversified insurance and financial services
organizations in the United
States. Nationwide is rated A+ by both A.M. Best and
Standard & Poor's. An industry leader in driving
customer-focused innovation, Nationwide provides a full range of
insurance and financial services products including auto, business,
homeowners, farm and life insurance; public and private sector
retirement plans, annuities and mutual funds; excess & surplus,
specialty and surety; pet, motorcycle and boat insurance. For
more information, visit www.nationwide.com. Follow us
on Facebook and Twitter.
About NFP
NFP is a leading insurance broker and consultant providing
customized property and casualty, corporate benefits, retirement,
and individual solutions through its licensed subsidiaries and
affiliates. NFP enables client success through the expertise of
over 5,400 global employees, investments in innovative
technologies, and enduring relationships with highly rated
insurers, vendors, and financial institutions. NFP is the 6th
largest US-based privately owned broker, 5th largest benefits
broker by global revenue and 8th best place to work in insurance
(Business Insurance); 10th largest property and casualty agency
(Insurance Journal); and 13th largest global insurance broker
(Best's Review).
Media Contacts:
MoneyLion:
pr@moneylion.com
Nationwide:
Lyndsey
Kleven
Klevel1@nationwide.com
614-507-0485
NFP:
Kelly
Jones
kelly.jones@nfp.com
512-697-6273
MoneyLion is not a Licensed Insurer
MoneyLion is not
a licensed insurance provider and does not engage in the
"selling," "solicitation," or "negotiating" of insurance
within the meaning of applicable state law. All insurance
quotes, products and/or policies that are obtained by MoneyLion
members are provided through NFP, in its capacity as a licensed
insurance broker, on behalf of its licensed insurance partners,
including Nationwide. Nationwide, MoneyLion and NFP are separate
and non-affiliated companies.
Forward-Looking Statements
The information in this
communication includes "forward-looking statements" within the
meaning of the "safe harbor" provisions of the United States
Private Securities Litigation Reform Act of 1995. Forward-looking
statements may be identified by the use of words such as
"estimate," "plan," "project," "forecast," "intend," "will,"
"expect," "anticipate," "believe," "seek," "target" or other
similar expressions that predict or indicate future events or
trends or that are not statements of historical matters. These
forward-looking statements include, but are not limited to,
statements regarding estimates and forecasts of financial and
performance metrics and expectations and timing related to
potential benefits, terms and timing of the transaction. These
statements are based on various assumptions, whether or not
identified in this press release, and on the current expectations
of MoneyLion's and Fusion's management and are not predictions of
actual performance. These forward-looking statements are provided
for illustrative purposes only and are not intended to serve as,
and must not be relied on by any investor as, a guarantee, an
assurance, a prediction or a definitive statement of fact or
probability. Actual events and circumstances are difficult or
impossible to predict and will differ from assumptions. Many actual
events and circumstances are beyond the control of MoneyLion and
Fusion. These forward-looking statements are subject to a number of
risks and uncertainties, including changes in domestic and foreign
business, market, financial, political and legal conditions; the
inability of the parties to successfully or timely consummate the
proposed business combination, including the risk that any required
regulatory approvals are not obtained, are delayed or are subject
to unanticipated conditions that could adversely affect the
combined company or the expected benefits of the proposed business
combination or that the approval of the shareholders of Fusion or
MoneyLion is not obtained; failure to realize the anticipated
benefits of the proposed business combination; risks relating to
the uncertainty of the projected financial information with respect
to MoneyLion; future global, regional or local economic and market
conditions; the development, effects and enforcement of laws and
regulations; MoneyLion's ability to manage future growth;
MoneyLion's ability to develop new products and solutions, bring
them to market in a timely manner, and make enhancements to its
platform; the effects of competition on MoneyLion's future
business; the amount of redemption requests made by Fusion's public
shareholders; the ability of Fusion or the combined company to
issue equity or equity-linked securities in connection with the
proposed business combination or in the future; the outcome of any
potential litigation, government and regulatory proceedings,
investigations and inquiries; and those factors discussed in
Fusion's Annual Report, under the heading "Risk Factors," and other
documents of Fusion filed, or to be filed, with the Securities and
Exchange Commission ("SEC"). If any of these risks materialize or
our assumptions prove incorrect, actual results could differ
materially from the results implied by these forward-looking
statements. There may be additional risks that neither MoneyLion
nor Fusion presently know or that MoneyLion and Fusion currently
believe are immaterial that could also cause actual results to
differ from those contained in the forward-looking statements. In
addition, forward-looking statements reflect MoneyLion's and
Fusion's expectations, plans or forecasts of future events and
views as of the date of this press release. MoneyLion and Fusion
anticipate that subsequent events and developments will cause
MoneyLion's and Fusion's assessments to change. However, while
MoneyLion and Fusion may elect to update these forward-looking
statements at some point in the future, MoneyLion and Fusion
specifically disclaim any obligation to do so. These
forward-looking statements should not be relied upon as
representing MoneyLion's and Fusion's assessments as of any date
subsequent to the date of this press release. Accordingly, undue
reliance should not be placed upon the forward-looking
statements.
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SOURCE MoneyLion