MoneyLion, Zogo Partner on Financial Literacy

Digital financial services platform SilverLion partnered with a financial education company Zogo to provide financial education to more than 3 million MoneyLion customers.

“The partnership delivers an essential blend of holistic and technological innovation that for many years has been overlooked by the banking and education sectors,” the companies said in a statement. Press release Monday (August 15). “This is Zogo’s biggest integration with a Fintech platform since its inception in 2018.”

Through this partnership, MoneyLion users have access to Zogo’s “small educational modules” through the Today Feed content of the MoneyLion app.

See also: Zogo: How a 21-year-old Duke University graduate is reinventing financial literacy

Zogo is an app-based financial education tool that founder and CEO Bolun Li described to PYMNTS as something akin to a Rosetta Stone language course, but for personal finance. It is designed to break down the larger topics of a consumer’s financial life into easy-to-digest “small size” teaching modules.

In the case of the MoneyLion/Zogo partnership, users can learn about topics including investing, saving, budgeting, credit scores, loan application and entrepreneurship, the companies said in the press release.

“In partnership with a Prime Minister [neobank] like MoneyLion is a crucial step towards Zogo’s goal of strengthening investor education for a prosperous consumer financial future,” Li said in the release. “This is one of our biggest steps into the Fintech space, bringing us closer than ever to our global mission to reinvent financial education.”

In an interview with PYMNTS last month, NCR Digital Banking President Doug Brown said financial institutions have a responsibility to try to reverse the trend of young people learning about financial matters from social media. .

Learn more: Financial literacy should be left to community banks and credit unions, not TikTok

“FIs need to reach and meet these customers where they are, where they want to be met,” Brown said. “It involves a curriculum model that they can extend, usually in digital format. We have a lot of customers doing it that way.

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NEW PYMNTS SURVEY FINDS 3 IN 4 CONSUMERS HAVING HIGH DEMAND FOR SUPER APPS

About: Results from PYMNTS’ new study, “The Super App Shift: How Consumers Want To Save, Shop And Spend In The Connected Economy,” a collaboration with PayPal, analyzed responses from 9,904 consumers in Australia, Germany, UK and USA. and showed strong demand for one super multi-functional app rather than using dozens of individual apps.

Geraldine L. Melton