Marble Financial Inc. (CSE:MRBL, OTC:MRBLF) said its Marble Connect platform has expanded further into the automotive industry by licensing its proprietary application programming interface (API) with vehicle e-commerce marketplace VINN Auto.
Connect is Marble’s proprietary and innovative business-to-business (B2B) white-label integration product. By licensing with VINN Auto, it will supply hundreds of automotive dealerships and thousands of customers nationwide direct access through Marble Connect to its proprietary financial wellness platform, MyMarble.
With a global semiconductor microchip shortage and the new car industry taking a significant hit due to pandemic-related factory closures, Marble said the demand and consumer competition for new and used vehicles have reached an all-time high. More efficient solutions that supply live inventory such as VINN Auto have seen their customer base grow 1,400% year-on-year, it added.
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"Partnering with a rapidly growing and service-driven marketplace like VINN Auto is very exciting for Marble,” vice president of Business and Corporate Development, Doug Tanner said in a statement.
“Most of us know firsthand that the financial aspect of getting approved for a new vehicle is the most stressful part. The combination of Marble and VINN’s technology is not only going to solve this problem but also accelerate healthy growth for both businesses.”
Under the terms of the agreement, all VINN Auto Marketplace customers will be automatically enrolled as members of the MyMarble Platform through Marble’s Connect API. This provides Marble with a new low-cost acquisition channel for both new members and associated data. Customers of the VINN Auto Marketplace benefit from access to Marble’s SaaS-based financial health and literacy products and services, enhancing Marble’s monetization opportunities.
“After initial success matching our automotive customers with Marble’s financial health products, we’re excited to further the partnership through the use of Marble Connect,” VINN Auto CEO Caleb Bernabe said.
“Having transparent access to your credit score is an essential part of the car-shopping process, and we’re excited to offer this option to thousands of VINN shoppers.”
Contact the author at stephen.gunnion@proactiveinvestors.co