MoneyLion Inc. (ML) Earnings Call Transcript & Summary

Good afternoon and welcome to MoneyLion's 2022 Investor Day. We've got a lot of great material. We're excited to share with you today. But first, let's quickly address the most exciting slides you'll see all day. The safe harbor slide. The safe harbor slide. I'd like to remind you that any forward-looking statements made today are subject to our safe harbor statement found in our SEC filings and in today's materials. Today's presentation is also available on our website at investors.moneylion.com. Additionally, if you have any questions, which I'm sure you will, we have a Q&A session following the formal presentation. You can use the QR code located on our slides throughout the day. Now I'd like to pass it over to Kate Fallon, MoneyLion's Chief People Officer, to go over our agenda.

Thank you, Sean, and thank you for all the hard work you've put into this day. Hi, everyone. Welcome. Thank you so much for joining us today for MoneyLion's 2022 Investor Day. We are so excited to have many of you with us in the room and virtually to discover how MoneyLion is shaping the future of money. I'm Kate Fallon, MoneyLion's Chief People Officer. And I'm honored to be here supporting MoneyLion's high-performing team as we work continuously to enable our talent to deliver stakeholder success. All of you here are betting on this team in the room to deliver. And you often have the chance to hear from Dee and Rick. Today, we're thrilled for you to meet the rest of the team. And for you to hear directly from them and these talented executive leaders about how we're bringing together content, data, products, and our marketplace to empower our customers to take control of their financial lives. It's a proven team of founders, functional leaders, technical experts and creators. I've only been here for 3 months, and I'm already blown away by the speed of innovation and execution at MoneyLion. It's truly incredible. And now on to the agenda. You'll hear from Dee Choubey, MoneyLion's CEO, for opening remarks. Next, we'll go over our evolving Consumer business and product road map, followed by a discussion of our Enterprise marketplace and our data advantage. We'll round out the presentation with our CFO, Rick Correia, to discuss the unit economics, business equation and longer-term outlook and financial targets. Following the presentation, we'll bring all the presenters back up to the floor for Q&A. I'd like to first introduce our first speaker, Dee Choubey, MoneyLion's CEO and Co-Founder for opening remarks. Dee cofounded MoneyLion in 2013 and has been our Chief Executive Officer and President since inception. Dee's idea has always been to leverage technology to create a hyper-personalized financial services experience for everyone. And MoneyLion breaks through the one-size-fits-all model of financial services. Helping to change the way that people think about and engage with money. Dee is passionate about giving our customers access to personalized financial advice based on their daily habits to help them achieve short-, medium- and long-term life goals. Dee has assembled a team of experienced innovators who are passionate about using transformative technology to really drive the future of money. Before turning it over to Dee, we'd like to share a quick video. [Presentation]

Thank you very much, Sean and Kate, and welcome, everyone, and thank you all for joining us here in New York and virtually for MoneyLion's first in-person Investor Day since we took the company public. The video you just saw encapsulates the work that this amazing hard-working team has put in over the last 12 months to take money line beyond the app and really integrate us into cultural conversations everywhere. Much of what you saw in that video has been done and created, visualized, internalized and written and produced by the very hard-working team all inside of our Media Division. That storytelling capability is an incredible superpower that we have right here inside of our 4 walls. And it shows up daily in the consumer experience that we're super excited to tell you about. It shows up as well for our enterprise clients. So you'll be hearing today us say Every Time You Money, the tag line Every Time Your Money. It's our new brand tagline, -- it shows up on the wall, it shores up on our T-shirts, and it really encapsulates what we're building here. Our Chief Content Officer, Jeff Frommer, is going to you later with our content strategy. So I don't want to steal too much of his thunder right now. But I do want to say that Every Time You Money encapsulates our strategy of building an ecosystem at the intersection of money, content and culture. Money is everywhere in people's lives, and so is MoneyLion. We're there when you need a bank account, we're there when you need a loan, we're there to help you learn how to find a side gig or save for that vacation. And we're there for those money moments when you just need to laugh or we're there throughout the Internet with the right product partner every time. So we've been public for just over a year, and we've used that year to execute against that vision that puts us at the forefront of fintech and at the bleeding edge of fintech. This platform is delivering dramatic results for our customers, both consumers as well as enterprise clients alike. But as we contextualize this moment in time in terms of what we have built, it's really important for us to acknowledge the macroeconomic backdrop. Look, we can focus on what we can focus on, and that's executing our product vision while positioning this organization to get through this economic cycle and create immense value for our investors and stakeholders. What MoneyLion is building is very unique. It's very hard to find a corollary or a comparison in the public or private markets. And we want to give you a lot of context around that in terms of how we're positioning ourselves and how we're executing throughout this presentation. But before we do that, it's really important for us to just acknowledge how much we've accomplished since we founded the business in 2013. While it may be a little bit hard to see that from the outside, we have been executing and our strategy is working. As of the third quarter of 2022, we generated over $340 million of annualized adjusted revenue. Compare that with $76 million of adjusted annualized revenue when we took the company public. This business is in a better position than it's ever been before. This is categorically a growth story. Our '22 -- our 2022 adjusted revenue guidance reflects a 100% compounded annual growth rate since 2019. And when we say the strategy is working, we're seeing that in the numbers over and over again and that's what we're so excited to share with you today. We ended the quarter with 5.4 million total customers. That's up from 1.4 million in 2020. Efficient customer growth, efficient customer acquisition is a key pillar of how we differentiate ourselves. We have a consistently low CAC, and we have incredibly robust ARPU levels. 11.3 million total products were consumed on the MoneyLion platform at the end of Q3. That's up from 5.1 million in 2020. Us getting in consumers into our platform and cross-selling is working. And it's a testament to the strategy that we've historically taken of building a platform. And most importantly, and I know this is on investors' mind, our business model is built for profitability at scale. We ended the quarter with $189 million of cash on our balance sheet, providing a sufficient runway to get us to profitability. So, MoneyLion initially launched really riding the secular trends of FinTech 1.0. And that saw the adoption of online lending, robo-advisory and neo banking, all unbundled piecemeal from the old banking model. But today, it's really important to know that MoneyLion is so much more than just a neobank. We're highly diversified with complementary revenue lines across consumer and enterprise. And we're leading the form factor change in scaling and reorienting towards the end consumer that's defined by everything everywhere. Of course, MoneyLion is on the web. Of course, it's in your mobile app, but we're also at the racetrack. We also show up inside of your favorite podcasts. We're in the hearts and minds of your favorite celebrities and the athletes and we're across the Internet whenever you need to find that right financial product. So none of this innovation and progress that we've been able to accomplish over the last 9 years would be possible without the talented, mission-obsessed team that we have here at MoneyLion. They are our strongest asset and a key investment highlight. So of course, you hear from myself and Rick at conferences and in investor meetings, but we want to make sure that we give you a showcase of a snapshot of the incredible talent that exists inside our 4 walls that show up every day and that obsess with really bringing your mission to life. You'll hear from Rick, our CFO. You will hear from Tim Hong, our Chief Product Officer. Both Rick and Tim have been with MoneyLion for 7-plus years and have immensely influenced our DNA and Ethos. They act as founders with intense alignment to customer and shareholder outcomes. You'll hear from Cynthia Kleinbaum our Chief Customer Officer. She's been with us for just under a year. She's worked with some of the most iconic retail brands in the world, and she's tasked with really providing a world-class experience to our consumers. You'll hear from Jeff Frommer, our Chief Content Officer and Co-Founder of MALKA, an award-winning studio that really powers our media division and our storytelling capabilities. You'll hear from Phill Rosen, Founder of Even Financial, now making up MoneyLion's Marketplace division. Phill is a serial entrepreneur and an incredible technologist. The founder DNA runs deep at MoneyLion. And if I were an investor, and I am an investor, that's an incredible investment highlight for investors really to take away with. Everything we do starts with creating long-term value for our stakeholders. This team obsesses with the mission, it obsesses with the execution, and it obsesses with delivering that long-term value for everyone here. Our Board of Directors, similarly second to none. We have some of them in the audience here. Welcome, Lisa. Our directors give us a purview across technology, media, finance, regulatory and governance landscapes. Their partnership and oversight give us a lot of confidence that we will be able to navigate any challenge thrown our way. It's also really important to acknowledge our global team. We have over 700 employees that span 4 offices from coast to coast in the United States. We have a technology, engineering and data science team in Kuala Lumpur that give us incredible capabilities to move fast in a smart way. We're top employer globally leading roles across technology, artificial intelligence, data science, machine learning and operations. The requisite investments and our team have been made to deliver on our strategic vision. And we have optimized the team and the infrastructure to continue powering growth without increasing variable costs. We're nimble and we're able to meet the needs of the current climate head on. But importantly, our incredible team members are what make MoneyLion run, and I couldn't be more proud of what they have accomplished. So as we think about rewiring the financial system, we have achieved tremendous success really by setting out towards that vision by bringing consumers what they need to improve their financial lives. And you'll hear through the day that we do that through the combination of content, financial products, a massive data set that allows us to personalize experiences for consumers and a one-to-many marketplace. This is a unique business model. So when we say that there isn't something like this in the market, it's really interesting for us to really contextualize for you what that means. And it all feeds into the strategy of Every Time You Money, the brand tagline and the brand identity that we're bringing to market. So you could ask, why do we start MoneyLion? When we started MoneyLion in 2013, we saw the traditional banks were providing a one-size-fits-all financial product strategy with high fee structures, and product design. Data was available, but it was siloed and it was unusable. The benefits of a modern technology stack that we see today just hadn't been realized inside of monolithic financial services companies. And I saw this firsthand. Like if you look at my story, I grew up in a middle-class family in New Jersey. My parents were immigrants. We never were taught how to navigate the [indiscernible] financial products that are out there. But we knew and through my formative life, I saw that technology could solve this. It was a palpable feeling. And after the wake of the global credit crisis and the financial crisis, my vantage point as a banker sitting inside some of the largest banks and seeing how their decision-making was, got me obsessed with solving that problem. We put together the best team that were experienced in artificial intelligence and the latest advancements in technology, finance and AI, and we brought that power together. We saw the power and potential of building new financial products, new ways of interacting every day with money and really bring that for the benefit of the American consumer. We focused on building software that was customer-centric, and that's really now what's paying off in terms of us bringing this entire vision together. Let's take a minute to talk about what we've been able to do over the last year since we took the company public. What is now 1 powerful fintech company was once 3 separate companies with each having its own mission. MoneyLion, of course, with its mission to rewire the financial system, MALKA Media to provide content at the speed of culture through their full-service creative studio, Even Financial to provide a definitive search engine for financial services to any business with just 5 lines of code. Understanding our company's collective roots helps provide context about the every tiny money platform we're building here today. The potency of this combined vision is being realized and is fully in market as a personalized mass market offering. The intersection of these ecosystems adds up to what we believe is the best financial platform in America. In 1 place, we have put together engaging educational content a marketplace with third-party offers as well as a full suite of first-party offers that we've built in-house. And we deliver this vision to markets in a way that no one has thought of before. We're competing not just with the legacy banks, but we're competing with the social media companies. And what we're doing is different from what any traditional bank or fintech would do. We believe that we're way out in front of a market opportunity that American consumers are demanding and will continue to demand. And this ecosystem is operating at scale. Our marketplace in Q3 had 28 million consumer inquiries. Similarly, on our media side, our content now reaches millions of people each month through our connected communities. And this marketplace attracts consumers and we get data on their preferences. More data drives better product recommendations. It's an incredible cycle, better recommendations that make it easier for us to attract more enterprise product partners. And as those product offerings increase, we solve more problems for end consumers. Those better outcomes result in more customer monetization. And ultimately, it's about monetization that makes it easier for us to increase marketplace adoption. And this is happening in real time. We're getting the benefits of a 2-sided marketplace and the cycle, of course, repeats. We think that this is a little bit misunderstood in the market. So let's deep -- I'll dive into our consumer business. Our consumer business offers a full suite of fintech products and content to consumers. This has been an evolution, a very nice evolution of the heavy investment we've made in technology and software over the past decade. We connect our customers to curated money content with a personalized feed that enables them to search, learn, discover and share. It's inherently set up to foster 2-way community-based interactions and conversations. We want to be the definitive and the ultimate destination for every money adjacent conversation. We want to support that community-based growth strategy throughout our product road map. So this year, we launched and polished our peer-to-peer payments capabilities. We expanded referrals, and we created our very popular RoarTags campaign. And we worked on popular viral elements like Peer Boosts. While there's more work to do, we have a great foundation laid for 2023 for word-of-mouth, organic and viral growth. So we empower consumers to take control of their money. This includes our popular Instacash product that helps customers cover short-term cash needs and a way to overdraft fees. It helps our customers build credit. Our credit building program has helped thousands of consumers increase their credit score so they can afford that first home or they can get that loan to start a business. Everybody in America can find use for the MoneyLion consumer app. It is intentionally built to be every Time You Money solution for the mass market. In fact, even in this room, anyone here can turn around and use the QR code right behind me. It works great with your American Express, it works straight with their MasterCard or Visa card, and it helps in every -- it helps in every inflection point. Our consumer marketplace brings the best financial products into 1 experience so that customers can get any financial product or offer they want. The way consumers search for financial products is stuck in a couple of decades in the past. So maybe consumers today, Google and insurance are a personal loan product and wait through a pile of irrelevant results, or they may go to a static blog post and read about credit card rewards from a blog post that was written a couple of years ago. It's poorly contextualized and you have to hunt and peck through offers and recommendations. At MoneyLion, we're as tired as the average consumer about the old ways of finding the right financial product. And this is where we believe we need a form factor change. Our vision instead looks at the power of open banking and consumer data and couples it with a dynamism of how consumers are used to engaging with social media platforms. We provide rich content from trusted voices to shed light on which products are right for the consumer based on their exact financial situation. And then we deliver that right product offer to them at the exact point in time. The technology behind this, by the way, we're super excited, will be available to all of our enterprise clients. So what you see here will be available to any company who wants to offer a similar experience in their own walled gardens or in their own consumer ecosystem. The next pillar of our strategy, which you'll hear a lot about today, is to continue innovating and disrupting through our enterprise marketplace business. Our Enterprise technology today powers the definitive search engine for financial services and products. Through our embedded finance marketplaces, we enabled any company to add financial products to their business. It's the same DNA that powers our overall strategy of connecting consumers with the financial products they need and bringing those solutions to consumers where they need it. So customer acquisition for financial products has typically been through static ads, unscalable walled gardens, costly many-to-many bespoke integrations. So what we've done is we've become an invaluable customer acquisition channel with critical value-added insights and data deeply embedded into the tech and marketing stacks of over 1,000 enterprise partners, benefiting all parties providing lower customer acquisition costs to our product partners, greater monetization and engagement for our channel partners as well as the best experience to the consumer. I'm excited for investors to hear directly from Phill Rosen, our marketplace leader in a session later today as he walks us through a deep dive of our Enterprise business. Our ecosystems have very powerful connections between each other that reinforce our data advantage and underpin our flywheel. As we look towards our 2023 strategy, our combined Consumer and Enterprise businesses open up incremental market opportunities. from providing customer acquisition as a service, media and content and engagement services to all of our Enterprise partners to commercializing our learnings on the data side and sharing them with our Enterprise clients. The 2 ecosystems align and work together. In the past, we've shared just the consumer opportunity with you. Now MoneyLion has an opportunity to continue innovating and expanding in the very large share of U.S. financial services digital ad spend. And we're excited that we can actually also influence nonfinancial services digital ad spend as well. So all of the priors are in place for us to build significant scale and drive the profitability in the near term. And that profitability really is driven by the symbiosis of our Consumer strategy and our Enterprise strategy. We have to spend significantly less on marketing dollars than our peers. And that lack of capital intensity allows us to get to profitability faster. You'll hear a lot today, but I'll leave you with a few key takeaways. First, we have a powerful combination of assets inside of our 4 walls, all of the ingredients for us to take emit market share grow profitability and scale are here. Social media companies have content. Banks have the data, but nobody has both. We do. How many banks do you think -- how many bank accounts do you think are linked to TikTok? 0? How many bank accounts do you think are linked to MoneyLion, almost 20 million. The banks have the linked accounts as well, you could say, but they don't know what to do with it. Others may have a network of creators, but we have the ability to give those creators a better platform for hyper engagement and modernization. It is an incredibly large market, we get it. But no one is doing what we are doing by building a financial community of communities. And no one is thinking of doing it at the scale that we're thinking of doing it up. When we say form factor change, we mean melding the active financial product search and consumption to how consumers consume content on social media networks today. Others may have some of the pieces, but no one has it all in 1 place. And by the way, no one comes close to this team's speed of innovation and execution. Secondly I'll leave you with this fact. We have incredibly strong unit economics. Our Consumer business benefits inherently from lower customer acquisition costs than most of its peers. This allows us to take a high-gross profit profile revenue base and deliver more net margin to the bottom line. Our Enterprise business provides us diversity. It expands our distribution in a cost-effective way. It subsidizes and our need to really engage an expensive brand spend and it provides an additional data layer for ever-improving personalization for the consumer. The product is getting better every minute by that virtuous cycle of more data coming in. And finally, our ability to sell between first-party and third-party products increases lifetime value in our preferred consumers. We've made the investments to deliver profitability at scale. There is inherent leverage in our business model. And because of our strong balance sheet, we have adequate runway to propel us to and through our path to profitability. We expect an attractive adjusted EBITDA margin profile in the medium term. Rick will walk you through our business equation in detail, and we'll talk more about that later. We're on track to become profitable in the near term, and we have clear line of sight into that. And finally, we have a massive and expanding target addressable market. Our core competencies position us to benefit from incremental market opportunities like embedded finance and nonfinancial services, digital ad spend. As we lower customer acquisition costs for Enterprise partners, we're taking wallet share from the Googles and the Apples of the world. As we increase access and expand our consumer offerings, we're taking wallet share and access from the incumbent traditional banks. These existing and incremental market opportunities provide plenty of revenue potential as we continue to scale our unique platform. I look forward to connecting with you all here today. Thank you, again for spending a few minutes with us this afternoon. And with that, I'll turn it over back to Kate Fallon to present the next speaker. Thank you, guys.

Thank you so much, Dee. Just to reiterate what Sean said earlier, there is the QR code up here, so you can go there and submit any questions you'd like for later today. All right. Our next speaker is Cynthia Kleinbaum. Cynthia is going to share a little bit more about our market opportunity. Since she has joined MoneyLion in April 2022 and serves as our Chief Customer Officer. Cynthia has over 20 years of experience, reimagining how companies engage customers to accelerate growth. And prior to joining MoneyLion, Cynthia was instrumental in the digital acceleration of Walmart, where she led the marketing efforts to scale its mobile app and online grocery business as well as launching membership Walmart Plus. Cynthia loves building brands that connect emotionally to customers and using technology to solve some of the most complex problems a marketer can face. She's done it at traditional companies like Nestle and then more recently in digitally native brands like Bonobos. She was a CSA top women in tech in 2020, Brand Inhibitors of Women To Watch in 2021 and at the 2023, fellow at an international Women's Forum. Please join us in welcoming Cynthia.

Everyone. Thank you, Kate. Thank you for being here. I'm really excited to tell you a lot of things about our customers. But first, I'm going to tell you something about myself. I'm a marketer. I've been doing marketing for 20 years. And if I had to summarize what I learned in the -- in previous 3 previous companies that I've worked at, that is relevant for today. The first one is when I worked at Nestle, I was doing marketing for Nesquik. And I had to learn that to be a good marketer, you cannot think that you are the target customer because then can't identify yourself, right? So you have to like try to put yourself in the shoes of the customer. And I'm going to ask you all to do the same because you are probably not our target customer. Number two, what I learned at Bonobos is that many in Wall Street are willing to overpay for good fitting pants. And #3, what I learned at Walmart is that if you can help people improve their financial lives, and in turn, they improve their lives overall, you're going to gain their loyalty and trust. What I saw at Walmart is that we were changing the way people were shopping and what they were doing with their money. In MoneyLion, what we're doing is we are changing how people manage that money and I know we can be a company for the future, a company that people will rely on make part of their daily routine and that they won't be able to live without. So let's start with some stats. Okay. So there's almost 170 million Americans who are underserved by the financial services industry. They don't have somebody that is teaching them what to do with their money. And that's 65% -- about 65% of the American adults. They are ready and willing to take control of their finances. They just need somebody that will help them do that. And if you ask me, why are they so eager to do that? It's because money controls their life. That's how they feel. They -- 6 in 10 Americans have told us that they wake up in the middle of the night thinking about money. They check their bank account over 200x a year. And they worry about money 6x a day. And when we double-click on what exactly worries them, they're concerned about not having enough money to retire, keeping up with the cost of living and managing their debt. I'm sure you're all aware about the phrase, money can't by happiness, but can we really be happy if we're worried about money all the time, I really doubt it. Now I'm going to ask for a show hands. Who here likes to talk about money. I don't buy that. Isn't that your job? Okay. Well, I hope you like to talk about money. I'm going to do it again. Okay. Let's it again. Are you ready? Okay. Who here likes to talk about money. Now I buy it. Okay. So you are not the average American. Americans don't like to talk about money. They prefer to talk about almost anything else. They prefer to talk about current events and top culture and relationships and politics before they talk about money. This is a problem because if they don't talk about money, they are not going to do anything about it. In fact, 3 in 5 Americans take their financial situation online. This is funny, yes. I mean we all know the famous meme of in real life and in social media. But think about this. Behind each one of these posts, there is a person that is a shame of their financial situation. They're not really comfortable sharing what their financial situation is and they're faking it. It's funny, but it's something we can do about, there's something we can do about. Now I want to share with you another stat. That happens because people don't talk about money. It's about financial literacy. 2/3 of Americans cannot answer 5 basic questions about financial like managing their finances. They don't understand concepts like -- sorry, finance -- they don't have the financial skills to manage a budget, to get a mortgage, to plan for retirement. And the problem is that without these financial skills, they won't be able to do that. Their day-to-day financial life get really compromised. There's a lot of companies, and there's also the public sector and nonprofits that have been trying for years to change this situation because it's clear that financial literacy and financial outcomes are connected. So what's really like sad about it is that the trend is going in the right direction despite all these efforts. I hope I'm not getting you all sad. I promise you I have some more uplifting content in a little bit. Why does financial literacy matter, as I told you because higher financial literacy is connected with better financial outcomes. People that have higher financial literacy levels are 50% more likely to have an emergency fund or about 80% more likely to have calculated their retirement needs and half is likely to only pay their credit card minimum. This is causing something that's called the financial literacy vicious cycle. I want you to imagine this. Imagine that you have financial problems. That causes stress. Stress is correlated with mental health challenges. If you have mental health challenges, it's unlikely you will be able to manage your money well, you may not even be able to get a job or go to work or have a job, right? So this creates more financial stress that gets your health in a worse position. So you get what I'm going with this. It's a vicious cycle that is very, very hard to break. If you're asking why isn't the financial services industry address this? Because the traditional institutions are really set up to help the largest population -- the smallest population with the largest balance sheet. This is not the 65% of the population that I was talking about. Here's where things get better, I'm done with the bad news. You survived the bad part of this presentation. We're seeing trends that really tell those people are starting to take control, and this trend is going to get better. Number one, and I'll click on double click on each of them. Number one, the growing adoption of embedded finance. Number two, the nascent but fast-growing role of financial influencer, we have a couple here and #3, the early innings of -- the early innings of fintech. Let's double-click on each of them. Embedded finance. This is a word that I'm sure you've been hearing a lot lately, but I want to make sure that we all have the same definition. Embedded finance is the placing of a financial product in a nonfinancial customer experience journey or platform. This is nothing new. For decades, nonbanks have offered financial services via private label cards, at retail chains, supermarkets and airlines. What makes the next generation of embedded finance so powerful is the integration of these financial products in digital interfaces that users use every single day. This means that in the near future, and we're already seeing it, life insurance will be purchased in your New York Post app or you will be able to refinance your car when you're in an Uber through a decentralized network. Why is -- another question is why is embedded finance growing so much right now? Because Americans are spending more and more time online and publishers and companies that own those placements online are monetizing every visitor by selling them financial products. What do I mean by Americans are spending a lot of time online. Right now, this year, the average American is going to spend over 500 minutes a day, not hours. So 500 minutes a day online. This is 1/3 of their day. So pretty good trend there. Second trend, the adoption of social media as a source of financial education. I have to believe that most people here do not follow -- do not like take action on financial advice on social media, but you are not the average America. Right now, we're seeing that the next generation is using social media as a #1 source. This is, to me, I was impressed when I saw this. Because here, you can see the percentage of Americans that use social media as their main source. And on the bottom, you can see what -- how is it ranking. Gen Z is using social media as #1. It means that they're using it more than friends and family and more than Google Search. This is heart of the price, by the way, is there. And then the second one, connected to Social media is the financial influencers who are giving Americans the content in a format that they want to consume it. In short form, in a very -- like fun, easy way, they're demystifying financial education in a way that that's how they learn. Why now? In the -- about 2010, we saw the rise of the fashion influencer when Instagram started growing up, and we were all looking at pictures of fashionistas on Instagram. The financial influencer is newer because it required video. It started growing with TikTok. If you go right now to TikTok, you're going to see a hashtag called moneytalk that has over 17 billion views. That is billions with B. And that's a very cool influencer. And then the third trend we're seeing is the adoption of fintech. 80% of Americans say that they have an account with a fintech. What does this mean? They have a financial institution in their pocket. Imagine that we can take the worries of people. They worry about it 6x a day -- a day. I told you before, right? Now they can also act on it 6x a day or more times a day. And with the inherent personalized nature of fintech, we can actually give them an experience that is up to their expectations. It's very personal and it's unique to every one of them. MoneyLion is already capitalizing on these trends. We are not just capitalizing on this trend. We are driving these trends. Number one, we meet our customers where they are via our embedded finance integration and our relationship with the financial influencers. Number two, we teach them about money in the format that they're already used to and that they enjoy. And number three, we enable them to take action there. This is super important to understand. The distance between learning and acting is shortening when you teach somebody something in 1 platform and then expect them to go somewhere else to take action, most people don't do that. Our platform provides you a super fast and like easy seamless way to learn something and act on it. You hear my excitement as a marketer. I hope you do. So think about it, and I hope there's no marketers seeing this because any market there would want to have this acquisition and retention funnel. My peers doing marketing for other companies are basically spending all their money paying media companies to not just acquire customers but to reengage them. We don't have to do that. All of our spend is within our comp -- not all of our spend, I'm exaggerating. But we're minimizing the spend that we have with these media companies because we have these properties. We drive awareness through our integration of -- with Even Marketplace and MALKA. We drive consideration, which is the stage at which people are trying understand if something is for them, getting convinced that it is or it's not, and we do it through our proprietary discovery field. And then we drive conversion by shortening the distance between learning and acting. So the last thing I want to leave you with which is uplifting. It's the MoneyLion virtuous cycle, which is not just the opposite of the vicious cycle I showed you before. It's actually the flywheel that powers our consumer business. Number one, we provide personalized daily money content with this content, people feel empowered to take action. And when they take action, they feel joy and relief. And what does that do? They keep coming back for more. So I think I spoken of, there's a lot more for you to see. I'm just showing you the why we're doing it. Now it's time for you to see what we're doing with Jeff's team and the rest of the team. Thank you.

Thank you so much, Cynthia. I just love her energy and excitement around what she and the marketing team are doing. It's just -- it's fantastic. Jeff Frommer is our next speaker. He's going to share more with us about our content strategy. Jeff became MoneyLion's Chief Content Officer in March 2022, overseeing all of the firm's brand and content activities. He spent 5 years at Adobe before cofounding MALKA with his partner, Louis Krubich. MALKA are award-winning creative studio, which we acquired in November 2021 and integrated into our media division, powers some of the largest brands in America storytelling. Jeff lives by the motto that impossible has many options and is known for innovative brand storytelling and the ability to really create industry-leading change. Jeff has shared that his family upbringing significantly shaped his career and helps him understand our customer first hand. His father was a cop here in New York City, his mother, a music teacher. And they both had side hustles that they dedicated themselves to in the late evening factor dinner. Knowing what Jeff knows now about money, he realizes that neither of them really knew how to truly make it work for them. They worked extremely hard to pay the bills and live their best life. But it could have been so much better if they had someone like MoneyLion in their corner. Jeff lives in the ethos of challenging the status quo and pushing any boundary to achieve your goal. If you put the work in, you can achieve anything. And that is the same mentality shared by millions of our customers. Please join us in welcoming Jeff Frommer.

Thank you, Kate. Thank you. So when I hear that, it reminds me just how hard my parents worked their asses off just to give me the opportunity to be on this stage. And my dad, he had a side house, my mom, I'd been trying to sleep, she'd be teaching music lessons in the house. That type of mentality I lived through. And it's almost a year to today when we decided to sell our business to MoneyLion. And I had the coolest job in the world. I have a passion for storytelling. And when you get to marry passion with purpose, one that feels so innately purposeful to me and my upbringing knowing that my parents work so much harder and not smarter than they could have. We have the ingredients for success but also to change the world. And I think as investors and a shareholder myself, I think that also means building a huge business, one in which is empowering people with learning things today that they didn't know yesterday and with having the opportunity to be the trusted person in their own circle. So just being up on this stage and coming from where I came from, I just couldn't be more blessed to have this opportunity. And I couldn't be more excited to share with you guys today what we're building. So I wanted to start with something really bold that we will become the destination for every money decision. And I truly believe that because no one is better positioned than MoneyLion to help consumers with everyday money problems because consumers want to make the best decisions in their lives. From everyday decisions like how to feed their family today, to big life decisions like how to buy my first home or how can I make some extra income with a side hustle? But as you heard from Cynthia, and isn't she amazing? I'm so proud to have you as my partner trying to tell this vision to the world, so thank you. That there are so many places today that you can get advice: YouTube, Google, TikTok. And I'm sure everyone has an uncle Bob. Mine happens to be my sister and her recommendations are terrible. But all that means is that there is a clear opportunity to be a winner in this category. That is the opportunity we're pursuing. And as we've seen, you can change consumer behavior. When Prabhakar, the VP of Search at Google, shared this quote, it stripped the foundations of the industry and reiterated a shift in consumer behavior. So let me just read it for you. "in our studies, something like 40% of young people, when they're looking for a place for lunch, they don't go to Google Maps. They don't go to Search. They go to TikTok or Instagram." The next generation is changing how and where they find this type of information. But where are they going for financial information. Well, they're turning to the people in their feed every day. And that 500 minutes stat, that's crazy because I actually thought about it, my phone reminds me just how much I'm on it all day long. So it sounds about right. And that's the thing, it's shared. It's not just Gen Z, it's all of us. The creator economy is real because influencers have real influence. And they're driving $104 billion creator economy. This year, that's growing faster than the [ gig ] economy. And it's not just where we get information. It's also how we get information. We're consuming things in microbytes. For millennials out there, I think I'm one of them, you have about a 12-second attention span. Gen Z, it's about 8 seconds. A lot of people might say that's really bad for the economy. But in our view, what it really is, is an opportunity to change the way we teach. FinTalk is a real thing because influencers have filled the void for how the next generation wants to learn. So let's see what FinTalk can teach us. [Presentation]

[ Duke ] has 5 million followers. So let's see if you learned anything. If you bought work shoes, they made you 2 inches taller. Could you write them off? If you think, yes, raise your hand. You think no, raise your hand. You guys don't learn from TikTok. The answer is yes, right? Because it's going to help this short fellow make a little bit more money. So the type of content we're consuming is changing. It's shorter. It's more interesting. It's visually stimulating. And as you heard for the 66% of Americans who can't answer 3 basic financial questions, this is the opportunity to tell them how to buy their first home, how to feed their family on $10 a day, how to dress like $1 million on a budget. Even soft skills that can change their lives immediately, like how to ask their boss for raise. Money isn't just about investing in credit score. It's how we use it every day in our lives. And so for whatever reason, they'd rather teach you physics than taxes in school. Meanwhile, when was the last time you used the covalent bond in a sentence that you have to pay taxes for the rest of your life. This is the opportunity we're chasing. And so to be in the destination for every money decision, you need every piece of money content, which is why we built the MoneyLion creator experience, to acquire every piece of money content that exists across TikTok, to YouTube, across Instagram, Facebook. It's an editorially reviewed program of authenticated creators, built for creators by creators to be their first choice to make money when they talk about money. So our business -- our media business, MALKA, which I'm quite familiar with, for the last decade has built an incredible trust and equity in the creator community. We've worked with celebrities like Mike Tyson and Kevin Garnet. We produced some of the biggest shows in the world. Everyone knows who we are. And so when you think about building a platform that wants to invite creators to make content on it, you need trust. And let me be clear, this is not an influencer platform. Anyone can pay for influencers. What we're doing is taking a -- taking advantage of the unfair advantage that we have, having a media business in-house to be able to build a relationship with creators that makes them look at us like TikTok or Instagram versus a brand that they're just trying to chase dollars for. Since launching in July, we have over 150 approved creators. We've accumulated 140,000 pieces of money-related content, which we've [ met attacked ], we've transcribed and ingested into our personalization engine. And we're scaling fast. Creators get paid for the daily impressions of their content. So I assume -- has everyone downloaded the MoneyLion app? Raise your hand if you didn't, because I want to single you out. Okay, good. If you're going through the Discover feed, all of that content has either been created or curated. And so we're giving an opportunity for creators to repurpose content that they may have made 6 months ago because a single mom in Alabama, who's trying to figure out how to pay off her credit card debt might not be on TikTok or Instagram, but one of our creators just explained how he did it. And so by able to bring all of that information together and match make the creator content with the consumer who's looking for it is exactly what they're trying to achieve in the first place. And for the creators that are coming into the platform, what about the 30 million-plus fans that these 150 creators have alone on their own social platforms? But with the power of our enterprise business, we're turning creators into publishers, just like CNBC and Forbes, where instead of selling their soul, and I swear they are, by holding up a car and saying, go buy this or go use this, they can focus on just making the content and allowing our marketplace to direct their fan to the perfect financial platform. So when they start explaining how to reduce their credit card debt, they don't have to choose which brand they need to align with. We provide them with the mechanics, the ecosystem to make the content plug into our enterprise business and allow those fans to be directed to the absolute perfect partner with the best deal. And this means that the creator makes the money, the fan gets the absolute best product for them and MoneyLion gets paid for being the trusted connector. The MoneyLion creator experience delivers an absolute direct connection for our high-intent consumer to powerful creators, to informational and actionable content that's both inside the MoneyLion app and outside. And when you have over 50 million people classifying themselves as creators, this is a huge opportunity. And when you ask the next generation, what the #1 job that they want is above astronaut and teacher, it's to be a creator. You understand that these individuals and the pursuit of them are driving how we're getting information today indifferent of what age you are. And this content is working. In the last month, we've seen a 70% increase in video content impressions. Just in that last month, we've seen a 55% increase in watch time, have increased 60% of consumers who are watching over 50% of the video in the last week, over 200% increase in shares. What that means is that this content is hyper personalized and relevant. People are finding value. And what we're doing is not just teaching America how to money, we're going from being able to see something to be able to do something because the future of finance is all about personalization. And as you heard from Dee, we have over 20 million linked MoneyLion accounts and over 28 million consumer inquiries that have come through our enterprise business just in the last quarter. When you marry this data with a rapidly scaling content ecosystem, you're able to allow customers who want to look for how to buy a home on platforms like YouTube today to how could I buy a home. If you go to YouTube today, you can find what we'll all find when you type in how to buy a home. But YouTube doesn't know that you have a 550 credit score, that you make $55,000 a year, that you spend 90% of your budget on rent, and that you only have $200 in the bank. So what they're going to show you isn't going to help you as much as it could if it knew that information. How do I buy a home. This is advice, not ads, one in which consumers want us to use our data advantage to help them make better money decisions because they need to make money work for them. They're not getting the help from these other platforms. The big social networks out there, they're using your data to sell you something. But we want to tell you something first. We talk about privacy and how Apple and the death of the cookie are negatively affecting their ad business. That's why we're not building an ad business. We're building an advice business. Let me show you how it works. Let's talk about [ Tina ]. You guys may have met her. She makes $25,000 a year, she drives her Uber. She might have driven me home last night. She was an incredible Uber driver. She has a 620 credit score. She lives in Philly. She's shopped at diapers.com so we assume she has a baby. She spends about 70% of her income towards rent. And once in a while, she's using our Instacash product to help out in times of need. When she onboarded into the MoneyLion app, she told us that she wants to buy a car one day. Well, if she wanted to find out what the best car for her to make the most amount of money on Uber is, she might go to YouTube, she might start googling various search topics. So might even ask a friend that drives for Uber. And then once she gathers this information, she'd have to sit down and do some budgeting. Who knows if she even knows how to do that. I just try to do it with my mom who for 50 years has been working and she couldn't make a budget. And how would she know what she can afford? Could she even buy this car? And if she wants a deal, she may not be that confident to walk into a dealership and negotiate what the best price is or even know what a good price on this car is. Instead, in MoneyLion, we show her a video on the Discover feed, which car makes the most money driving for Uber. She learns from one of our creators that the Toyota Camry is actually the best car for someone like her. Our advice engine taps into our brand platform, and we leverage an offer for Toyota for $2,500 on a rebate if she was to purchase the car. And at the same time, our marketplace provides a direct link to start the pre-approval process for an auto loan. So for Tina in one clean, trusted swoop, we just solved some major pain points. What car is right for her? Which one solves the financial goal like making more money? She got an offer to reduce the price on that car before any negotiations, and we got it preapproved. So she now has the confidence to walk in and know that she can move ahead with this decision. We saved her time, we saved her frustration, we saved her anxiety for what is truly a daunting decision for so many Americans today. Where else can this be solved in one personalized single user experience? As investors, and I'm one of them, think how big of an opportunity this is. But what about everyday money decisions? It's not every day we're looking to buy a car, it's not every day we're looking to buy a home. So let's talk about Bob, my uncle. He makes $85,000 a year as a school teacher, has a 710 credit score. He lives in North Carolina. He owns a home. He has one of our managed investment products and he's told us that he wants to save for a vacation. He loves the holidays. And I don't know about you guys, but I haven't bought my Christmas gifts yet. I'm also Jewish, but I celebrate Christmas, just as an FYI. Don't ask why, I blame my parents. But what gift can Bob buy his son for Christmas? Well, if Bob was to pop into the MoneyLion app, he might see in our playlist top 10 gifts for kids under $25. Now Bob just learned some of the best gifts he can and should afford. We tap into our marketplace of brand partners to show him discounts on the places mentioned directly within those creator videos, and we noticed that he may want to pull from his managed investment account to help lighten the load this month because we see how much he has in his money account. This is the closest distance to action on every day money decisions. Like I said, you can go from seeing something to doing something. And brands, they spend millions of marketing dollars with publishers and networks today to acquire customers just like Bob and Tina. I know because they hire our media business MALKA all time to do that. No one has more story-telling capabilities, more distribution channels, more creators in our network, more data to help both financial partners and brands leverage advice to acquisition. Let me be clear. There are billions of dollars that are spent in ad revenue being spent in other channels that brands can now do in ours. And as you can imagine in the future, you might hear a large brand talk about their customer acquisition cost inside of the MoneyLion app, just like they talk about it within Facebook and TikTok because all of this goes back to our brand promise to customers. But every time you hustle, you dream, you spend, you send, you save, you think, every time you money, you'll be in control. You'll be confident, you'll be a MoneyLion. Our new brand reinforces something that is instilled to me at a young age, something that you can't teach but if you put the work in, you can achieve anything. But as you've heard, people don't feel like they have that trusted adviser, they're turning to creators today who may or may not be giving them the right advice. And so when you think about reinforcing what we're building, marrying everything that we know about the consumer, having more data on them than anyone else with all of the content that could be helping them on every day and large-scale decisions that can positively affect their lives. When you put those 2 things together, you deliver on the promise that with MoneyLion every time you money. That's what our holiday campaign has been all about. And hopefully -- has anyone seen our out-of-home running through the city? Caught you yesterday, perfect. We're really leaning into this idea of every time you money. And if you look at the flywheel effect that our media business has that allows our network to be story told through the MoneyLion ecosystem, we have a flywheel effect that no one can compete with. And as you heard, the marketing dollars that we're spending are nowhere near what our competitors are doing. And with this campaign, we saw a 25% lift just in the last 2 weeks in sign up traffic. So I wanted to share with you the holiday spot that we just released. [Presentation]

Thought the investors would get that joke. On social, we're allowing strangers to nominate other people who deserve a holiday bonus this year. We've seen a tremendous amount of engagement, the largest we've ever seen, and people participating in that because that's a part of our brand ethos. It's about turning the camera around and recognizing those individuals who we are trying to help. And you're going to continue to see us do that as we partnered with the NIL influencers, building our first Mylan athlete team, a group of athletes who are just on the cusp of making their dreams happen. Partnering with the NBA Ignite, a group of individuals were so close to joining the NBA and making their dreams happen. That's what it's all about, and that's what we're building. We're going to constantly deliver on that promise. And I hope that all of you will have an opportunity to continue to follow us on social, check out the partnerships that we're doing, participate in this brand because whether you're investing today or you're investing tomorrow, we are building a community. There's a really big market out there. but no one understands the culture of money like we do. The traditional banks will not innovate as fast as we can. No one has the relationships of creators like we do, and personalization is the future. And so as we think about this fragmented experience customers have today, I promise you that we will be the first destination for every time you money. Thank you guys very much. I couldn't be more proud to be up here. Thank you. And with that, I'm going to flip it over to Kate. And by the way, no one's introduced Kate, by the way. I've had the pleasure of working with MoneyLion for 4 years prior to the acquisition. I've been there now a year. Kate's been here 3 months. I know she's worked with Citadel and Dee and Rick for 20 years in the industry, she's a force to be reckoned with. From up near Boston, I won't plug the town, I think you were a little upset about that, but all I know is that when you look at the C-suite, Kate included, there are leaders in here that as you bet on the business model that you saw, you're also betting on the people that are driving it. And someone new like Kate, I just -- again, like I said about Cynthia and the rest of the team, I couldn't be more proud to work with you. So thank you so much. And let's welcome Kate back on the floor.

Thank you. Jeff. That was a very nice intro. I appreciate it. And gosh, Jeff's energy is just always so contagious, when he just infuses that into everything he does, which is just awesome for MoneyLion. With that, we're actually going to take a quick 5-minute break. So we'll be back in just a few minutes. [Break]

Welcome back. All right. Well, our next speaker is Tim Hong, he's going to share more about our products. Tim joined MoneyLion in 2015 and serves as our Chief Product Officer. Tim's 15-plus years of experience in product and technology make him truly instrumental to how MoneyLion delivers growth, engagement and outcomes. Prior to joining MoneyLion, Tim was part of the founding team of Tsumobi, where he was responsible for growth, marketing, product and analytics. Previously, Tim was Senior Vice President of Product Development and Analytics at EmSense Corporation. Tim holds a Master of Science from Stanford University and a bachelor of science and material science, engineering and physics from MIT. Please join us in welcoming Tim. [Presentation]

Goodness, there's just so many exciting things going on with our products and doesn't Tim's calming voice an amazing demo, just to make you happy to think about money, does for me. All right. Our next speaker is Phill Rosen. Phill sounded even with the goal of filling the financial gaps, he saw and identified in Financial Services acquisition, a software engineer by training, Phill has worked with numerous startups in the intersection of data, analytics, API-driven marketplaces and ad tech. Prior to starting even Phill cofounded Orchard platform, a platform for institutional online lending, where he served as Vice President of Engineering. I learned something new about our team every day. And Phill and I were talking this morning. He shared a little bit about kind of just this quantitative data-driven approach he takes to everything. He shared a funny story about a personal situation where he used data, which gave me a good laugh, but it just speaks to how incredible Phill's mind is. Phill is a New York City native, and he lives in Brooklyn with his wife. Please join me in welcoming Phill.

Hi, everyone. Thanks, Kate. So we've heard a lot about how MoneyLion is doing great things for the consumer through our consumer app. In this video, I'm about to share with you. We're going to get into how the enterprise platform works, what our B2B strategy is and all the great things we're able to do with our institutional partners and clients. So thank you, and enjoy. Hi, everyone. It's great to be with you for MoneyLion's Investor Day. We're excited to talk about what the MoneyLion Enterprise business has been up to, where we are bringing our best-in-class embedded marketplace, content, consumer products and data to any business that wants to add financial services and insights. Our enterprise marketplace business has been a pioneer and leader in embedded finance since its inception for almost a decade. We have the goal of connecting people to the financial products they need. Our tech enables any company to add financial products to their business, including loans, savings, insurance, credit cards, mortgages and more, all with our embedded finance marketplaces. Simultaneously, our marketplace tech allows financial services providers to engage consumers when and where they need financial services. The core of the marketplace experience is the ability to search, compare and get recommended financial products. Through our API and embedded finance marketplace, we have built a powerful engine for financial services recommendation. It simply works. A business integrates our embedded marketplace into their properties. Then a consumer comes to that business as app website or other touch points. These businesses or channel partners are communities of people think content publishers, new sites, product comparison tools, fintech companies and financial institutions. The consumer submits their information, and they get matched with real-time personalized offers from top financial services providers. A single integration connects to all products. It's as simple as that, a transparent, meaningful system that's optimized for the needs of individual consumers and enterprise businesses alike. Our platform enables us to match product providers with high-intent consumers at the trusted sites they're already visiting, resulting in a lower cost to acquire customers for businesses compared to traditional performance marketing channels. We offer 3 types of integrations, partner page, embed and native API. These integrations enable any kind of financial product search and recommendation experience across any consumer touch point. This ensures that our marketplace experience is elegant, flexible and responsive in any environment, from quick turnkey setups to custom builds on our API. The partner page is our easiest integration, where a partner links out to a marketplace page we host with easy co-branding and customization options using our Wizard, which is part of our tool suite. This page can be set up in minutes. This example is from our partner, Lendio, who uses our loans partner page marketplace to service the SMB customers. We would like to go to Nichole Enoch, Head of Value-Added Services at our partner, Lendio, to speak about their marketplace integration.

I'm Nichole Enoch, Head of Value-Added Services at Lendio. Lendio's mission is to fuel the American Dream by helping small businesses secure access to capital. Even's versatile solutions have allowed us to expand our support of the SMB community and to date, has helped to match over 4,000 of our businesses with consumer capital offerings. Our marketplace programs with Even have helped us ensure that we can match these businesses with the right products that fit their needs. In our short time as an Even partner, Revenue from the partnership has grown over 75%. We are excited to see how our partnership with Even can continue to grow.

Our embed is a little more sophisticated, where partner needs to add a couple of lines of both to their website or app. Then the embedded marketplace lives directly and seamlessly in their environment. In this way, we more efficiently connect high-intent consumers with the products they are looking for and provide a better consumer experience as compared to traditional website ads. In this example, we see major publisher insider using our embed directly in an article about personal loan. Now let's hear from our partner, Jennifer Streaks, Senior Personal Finance reporter at Insider.

I'm Jennifer Streaks, Senior Personal Finance Reporter for Business Insider by enabling us to easily integrate financial products into Insider's personal financial content, Even has greatly enhanced the experience of our readers. The bottom line is that Even's powerful platform, one that provides our audience to personalized financial products that they're looking for has brought more user enhancement and monetization. We are thrilled to continue to work with Even to further enhance our marketplace programs and to continue to grow the services we can offer our readers.

Both Partner Page and Embed can be customized to meet partners' brand needs with logos, colors and much more, all using our easy setup wizard. With our native API integration, companies can build whatever marketplace experience they want within compliance guidelines. Here we show the integration from Lantern by SoFi, where they built a custom native experience on our API. Since supporting Lantern by SoFi and launching their multiple vertical product marketplace, we help them double both their consumer engagement as well as their revenue with our platform. Continuing on, we'd like to talk about how we work with financial service providers like Achieve to provide their products in our marketplace. We've worked with Achieve for a very long time since 2016. They are a financial service provider offering loans and debt relief products to consumers via our marketplace. And most recently, our first HELOC partner. We'd like to share a few words from Dave Frame, CMO at Achieve.

Hey, I'm Dave Frame, the Chief Marketing Officer here at Achieve. Even [indiscernible] Achieve's long-standing mission to help consumers get on a path to a better financial future. Through our partnership with Even, we've been able to significantly extend our reach to more people in need of these solutions. And we more than doubled our engagement with the consumers and increased our loan originations nearly 10x on the Even platform.

Upstart is another one of our oldest partner relationships, working closely with us since 2016. Here are a few words from Cortney Hamilton, Senior Partnerships Manager at Upstart.

Hi. I'm Cortney Hamilton. I'm a Senior Partnerships Manager at Upstart. As one of Even's longest-standing relationships, Upstart is thrilled to have partnered with an organization that shares our goal to provide consumers with effortless access to credit. Over the many years, we've worked with Even, we've been able to open several new channels and test new products in the market that fit the needs of our consumers. Our partnership has seen meaningful growth in both engagement and originations year-over-year. With Even, we are continuously looking for ways to further expand our relationship with more unique and innovative experiences for our consumer base and look forward to what the future holds.

Best Egg, another long-standing relationship, started with us as a financial services provider in 2016. And we have recently grown the relationship with them to integrate our marketplace tech and to their consumer. Now we are working together on both sides of our marketplace. Let's go to Chris Milone, CMO of Best Egg; and Amanda Share, Director of Partnerships at Best Egg, to talk a bit more about our partnership.

Hi. I'm Chris Milone, Chief Marketing Officer at Best Egg. Partnering with Even Financial has been absolutely critical to our mission of offering simple, accessible and personalized financial solutions to help people confidently navigate their everyday financial lives. Even Financial has robust and detailed reporting. We leverage that across multiple Best Egg teams to ensure we provide competitive offers in the market. Since partnering with Even Financial, we have significantly increased our consumer reach through the platform. We are beyond excited to continue to grow our marketplace programs together.

Hi. I'm Amanda Share. I am the Director of Partnerships here at Best Egg. The team at Even Financial is one of the best in the industry. They are partner-friendly, which makes building relationships and trust easy. It is a symbolic relationship, and they are quick to involve problems with us. They also have some of the most valuable pieces of data to help support our business here at Best Egg.

Our platform has a track record of driving dramatic growth for our partners, benefiting all sides of the marketplace, and it keeps getting better. In the past, integrating financial products as a partnership into a business was costly, complex, it would only give you the coverage of a single provider. We offer a true programmatic marketplace for trusted, real-time, personalized financial product offers online. This shifts a messy many-to-many way of doing business to a much simpler and more efficient one-to-many system. By providing both sides of the network with a single integration point, we have enabled a more efficient marketplace for everyone. We've changed the way this industry works and how his participants work together. Just as marketplaces for other industries have evolved, for example, flights, classifieds, professional search and others, we see this as the evolution of search, comparison and recommendation for financial services. Furthermore, similar to e-commerce, where companies like Walmart and Amazon successfully adopted third-party sellers to fulfill their consumer demand. MoneyLion has created the same approach to financial services. Today's consumer knows and trusts marketplaces because they transparently show options that best fit their needs. According to Miracle, almost half of all consumers are shopping on marketplaces. And in our own experience, marketplaces have succeeded. It's groundbreaking for one financial services provider to work with another to augment each other's offering. And that's part of what our platform facilitates. Over 1,000 businesses make up our enterprise partner network, either as financial services providers or companies looking to integrate financial products. Among those are major media publishers like our partner Insider and use cases such as SMB and point-of-sale like our partner, Lendio. We match consumers with personalized financial products when and where they need them. The scope of sectors and verticals for our enterprise business network is enormous. It's a positive value proposition for all parties. By delivering the best opportunities for consumers, businesses and financial services providers alike, we become the unbiased efficient center of a growing market. Altogether, MoneyLion has a flywheel effect that drives our growth and capabilities. More channel partners drive more consumers and data, generating better financial product recommendations, which improve consumer outcomes, which in turn drives more conversions and better monetization. Recent milestones include reaching over 1,000 partners on our network, over $6 billion in financial products facilitated as well as over 30 million unique consumer profiles. So what does this all mean? Our enterprise business is powering the next generation of embedded finance, enabling any company to add financial products to their business and forming a massive 1,000-plus enterprise partner network. The combination of MoneyLion's powerful digital financial products, the advanced technology of our Enterprise division's embedded finance marketplaces and network and our top-tier media divisions influencer agency and content production capabilities enables us to achieve our goal, connecting people with the financial content and products they need. Together, we're working to rewire the financial system through unique, best-in-class financial products, marketplace, data and content, and we're delivering these capabilities through our consumer and enterprise ecosystems. This is enormous. No company has all these capabilities at scale under one roof. We provide the best financial solutions for consumers wherever and whenever they need it. We do more for our customers, both consumer and enterprise, and we reward their trust with clear, transparent and algorithmically aligned products and services backed with compelling human-centered media for a best-in-class money experience. We are rewiring the financial system for everyone every time they need money.

Thank you so much, Phill. That was fantastic. We'd like to invite both Tim and Phill back up to the stage to talk more about our data advantage.

Thanks, Kate. Let's talk about data. It's really the foundation of the MoneyLion advantage and a key part of our DNA since our founding in 2013. At its heart, we value data for its predictive value, enabling MoneyLion to quantitatively forecast and influence outcomes, whether that's the ability to pay for a loan or a credit product, the ability for content to engage and retain a customer or really a customer's propensity to convert on a product. Crucially, we're not just using these methods to enhance the customer experience. We're also using it as a critical data provider to our enterprise clients. Our combined consumer and enterprise network unlocks an enormous data advantage. MoneyLion is unique in how we've amassed this advantage. We've strategically sought and built proprietary data to power insights that accelerate the adoption of our products and enhance the consumer relationship. It's not enough to have a monoline data set based off a monoline product. MoneyLion data spans critical pillars in content, financial products and marketplace to really have a pulse on how the American consumer is both engaging and transacting. So for instance, if a consumer engages in a piece of content, about saving for a vacation, we could connect that consumer, that high-intent consumer to a high-yield savings account, for instance. Not only that, we could continue to nurture that consumer relationship with a series of content and offers related to vacations themselves. So no bank or monoline FinTech can do that. Our large and growing consumer database of hundreds of millions of inquiries and conversions along with content engagement metrics allows us to deeply understand the financial wants and needs of everyday Americans. We have over 30 million profiles of consumers from our enterprise marketplace alone. As I demoed earlier, our proprietary database really lets us understand and provide real-time insights into the day-to-day needs of a consumer in both times of need as well as times of excess. And it allows us to identify how we can bring financial access and advice to consumers through greater product diversity and a network of expanded partnerships. With that, I'll hand it to Phill.