Marble Financial Inc (CSE:MRBL) (OTC:MRBLF) (FRA:2V0) announced a referral agreement Wednesday with Loans Canada, offering its consumers Marble’s AI-driven financial wellness SAAS platform, MyMarble.
Loans Canada is the nation's first loan comparison platform that empowers Canadians to make better borrowing decisions with financial literacy and transparency, the company said.
Since July 2012, Loans Canada's aggregation platform has helped over 1 million Canadians, the company said, and access to such an engaged visitor base presents Marble with a sizable new growth channel of opportunity. Marble’s goal is to empower Canadians using its holistic personal finance fintech solution that provides precise curated recommendations, insights and financial literacy tips.
READ: Marble Financial closes non-brokered private placement
According to a 2020 Loans Canada report, nearly half of respondents, who have turned to their banks for financial support, are being turned away, the company said. Many Canadians' debt loads are growing, along with the financial vulnerability and uncertainty caused by the COVID-19 pandemic, which has increased the need for companies like Loans Canada to help consumers. Solutions like MyMarble will help strengthen Loans Canada customers with their future financial outlook when seeking financial products.
"We are very excited to continue to develop our relationship with Marble Financial,” Loans Canada CEO Scott Satov said in a statement. “We continue to offer Canadians tools and resources to improve their financial literacy and we think Marble's platform is an excellent tool for our users to achieve their financial goals faster."
This agreement will utilize Loans Canada's proprietary loan search platform to connect any Canadian, regardless of their financial past or credit history. With this technology, Loans Canada can build audience segments and target high-value users that will be high convertible for MyMarble.
By adding in the AI-powered recommendations, credit improvement, coaching and budgeting technology of MyMarble, the platform will help consumers achieve the level of financial fitness they require to qualify for many of the offered financial products or services on Loans Canada, the company said.
"We are very pleased to be launching MyMarble with Loans Canada, a national leader in the loan comparison space," Marble Director of Marketing Rich Elliott said. "Further expanding our relationship with Loans Canada Is going to not only considerably increase our customer base but also stay true to our mission of helping the underserved population of Canadian consumers somewhere to turn to."
Marble also provided an update on its acquisition of Inverite Verification Inc. The company now expects the execution of the definitive agreement and closing of the transaction to occur during the week of April 5th.
Contact Andrew Kessel at andrew.kessel@proactiveinvestors.com
Follow him on Twitter @andrew_kessel