MoneyLion (NYSE: ML), a Fintech offering personalized services, has announced the rebrand of “Even Financial,” the embedded finance platform for enterprise businesses, to “Engine by MoneyLion.”
The Engine by MoneyLion brand is “designed to reflect the expanded breadth and capabilities of the combined company, while continuing to focus on its premier financial product search engine, API and embedded finance marketplace SaaS platform, delivering personalized recommendations through any consumer touchpoint.”
MoneyLion acquired Even Financial in February 2022.
Founded in 2014, Even, “now Engine by MoneyLion, matches consumers with real-time, personalized financial product recommendations, from its vast network of top providers, on mobile apps, websites, and other consumer touchpoints, through its API, marketplace and search engine technology.”
Since inception, the company has “grown its network to over 1,000 partners and facilitated over $7 billion in financial products to date.”
The Engine by MoneyLion technology is “delivered through its powerful SaaS platform, providing partners unparalleled transparency and controls, customizable integrations, advanced AI-backed data and insights, reporting and more.”
Today, in connection with the launch of the Engine by MoneyLion brand, MoneyLion has reportedly “released the new brand logo, updated website (located at its new URL www.engine.tech) and additional assets to deploy the new brand.”
All Even Financial products and services “continue as is without any interruption, under the Engine by MoneyLion brand.”
MoneyLion and Even have “united seamlessly, through a shared vision: to match consumers with the financial products and services they need, when and where they need them.”
Dee Choubey, CEO and Co-Founder of MoneyLion, said:
“This is an exciting moment for us, as we further our position as a leader in the space. We are delivering on our vision to make financial services more accessible to everyone, powering a remarkably vast set of products and services for our partners through a simple yet robust integration, as well as driving excellent overall company performance. The strengths of our ecosystem enable us to provide comprehensive solutions for our enterprise partners and create a seamless experience for consumers. With our new brand, Engine by MoneyLion, we are well-positioned to continue shaping the future of financial technology in collaboration with our partners, bringing greater financial literacy, inclusion and access to all consumers.”
Phill Rosen, Founder of Even, who joined MoneyLion with the acquisition “has been promoted to Chief Technology Officer of MoneyLion, where he will bring the tremendous capabilities of its global technology organization to further invest in its leading embedded finance capabilities, as well as Business Leader of Engine by MoneyLion – Web Services, which continues the Even Financial legacy of core B2B financial technology for enterprise and cements it within the MoneyLion organization.”
As explained in the update:
“Our new brand, Engine by MoneyLion, reflects our combination and alignment with MoneyLion, one of the most innovative and successful companies in financial technology. We have really brought our complementary businesses together extremely well. We look forward to the opportunities that lie ahead, as we continue to provide the premier search, comparison and recommendation engine for financial products and services.”
MoneyLion has “integrated its top consumer finance mobile app, its leading embedded finance marketplace platform and solutions for enterprise businesses, its world-class media division and innovative work with AI and data, to firmly establish itself at the forefront of financial technology.”
Following its Q4 and EoY 2022 earnings, MoneyLion claims it is “leading the pack, demonstrating standout unit economics, revenue diversity and business resilience.”
Among many benefits, this combination “has enabled for MoneyLion more products for more of the credit spectrum, more opportunities and offerings for its enterprise partner network and brings its full partner network into the MoneyLion app with its marketplace.”
This provides seamless, omnichannel “access to the personalized financial products people are searching for, as well as tremendous efficiencies for the company, helping drive its best-in-class unit economics, which is amplified by incredible results for its partners and consumers.”