Fintech firm Even Financial announced on Tuesday the launch of its Real Time Pricing (RTP) Programmatic Marketplace, which will support the company’s proprietary data, machine learning and predictive algorithms. Even Financial reported that the RTP technology creates a state-of-the-art marketplace with a new pricing model for in-app, online advertising and performance marketing, specifically by financial services institutions and affiliates. It was revealed:
“RTP features are designed to enhance the user experience, monetization strategy and transparency of the online financial services advertising market. Using Even Financial’s RTP plug-in, publishers and mobile app developers can seamlessly run native, personalized financial services offers from multiple categories including lending, mortgages, credit-cards and other banking products. Central to the RTP technology is a new pricing model that offers a unique, consumer-specific payout event for each offer based on the offer and the consumer’s intent. This model is not based on traditional cost per click (CPC), but rather on an entirely new concept of predictability. This unique structure moves the payout event upstream and reduces risk for Even Financial’s partners while creating a more transparent marketplace.”
Even Financial also reported for both partners and the financial institutions looking to market on those channels, the RTP technology has created a more efficient marketplace. Phillip Rosen, CEO and co-founder of Even Financial, stated:
“Even Financial’s Real Time Pricing technology is addressing some of the key challenges currently facing the financial services online advertising market, specifically with in-app placements. Our pricing model revolutionizes our partners’ ability to monetize their content by leveraging our platform’s data to serve specific, tailored offers that integrate directly with account onboarding. This ultimately improves both the user experience and conversion rates, benefiting all sides of the transaction.”
Even Financial added that the real-time strategy is based on actual, extensive user data, and pushes underwriting criteria into the decision of whether or not to serve an ad to a consumer. RTP’s proprietary algorithm serves tailored product recommendations, sourced from $3 billion worth of loan application data processed on the company’s platform.
As previously reported, Even Financial is seeking to become an important supply channel for online lenders in search of borrowers. The company claims to be the first and only dedicated supply-side platform for both online financial products and services. Even has established a set of well-known online finance partners, such as Prosper, Ascend, and Upstart, providing an integrated real-time API for search, comparison, and loan recommendations.