Press Release

May 13, 2021 8:00 am

MoneyLion and NFP Partner to Provide Nationwide Insurance and Financial Wellness Offerings to MoneyLion Members

MoneyLion Introduces MoneyLion Marketplace, Matching Members With Best-in-Class Brands and Products to Help them Achieve Their Financial Goals

 

NEW YORK, May 13, 2021 /PRNewswire/ — MoneyLion, an award-winning, data-driven, digital financial platform, today announced a partnership with leading insurance broker NFP to provide MoneyLion members with direct access to insurance and financial wellness offerings that can help support their financial journey.

The partnership, powered by NFP’s InsurChoice program, enables MoneyLion members to shop for and buy industry-leading insurance products and solutions through MoneyLion’s all-in-one financial platform, where they already bank, borrow, save and invest.

With today’s announcement, MoneyLion also introduced MoneyLion Marketplace, a platform which matches MoneyLion members with category-leading brands, offers and value-add resources that are tailored to their personal needs.

Nationwide, one of the strongest, diversified, Fortune 100 insurance and financial services companies, will be the first insurance provider available to MoneyLion members via NFP and through the MoneyLion Marketplace platform.

“Knowing what type and how much insurance to buy can be a daunting experience for many people, and yet it is a critical foundation for any financial plan,” said Dee Choubey, MoneyLion co-founder and CEO. “As a leader in digital technology, insurance underwriting and customer service, Nationwide is a natural fit to help our members evaluate the insurance options that are right for them.”

MoneyLion members will be able to get a quote quickly and easily for a range of Nationwide insurance products and, in some instances, lower their expenses, all through the MoneyLion app.

“Meeting the customer where they are is an important focus in Nationwide’s strategy and key to our innovative partnership with NFP and MoneyLion,” said Gary Douglas, president, Nationwide National Partners. “Partnering with NFP to provide a digital solution utilizing MoneyLion’s Marketplace will enhance the customer experience and attract consumers who want to quickly and simply quote and purchase insurance online.”

“MoneyLion’s focus on introducing innovative solutions aligns well with our efforts to help clients solve problems and enhance outcomes,” said Brett Woodward, Managing Director of NFP Personal Risk. “Through this partnership, we’ll be able to leverage the MoneyLion Marketplace platform to connect the needs of clients with a range of solutions through an easy-to-use interface. This is a great combination of expertise, innovation and collaboration that delivers meaningful value to MoneyLion members.”

Introducing MoneyLion Marketplace

MoneyLion Marketplace extends the range of tools and services available for members to seamlessly access through the MoneyLion platform, making it easy to manage their financial lives through the convenience of a single digital app.

MoneyLion’s AI-powered fGPS® technology provides members with personalized financial guidance. This individualized guidance will eventually link directly to MoneyLion Marketplace to help members find highly-relevant partners and offerings when they need it most and are seeking solutions to achieve their financial goals.

“We want to use the power of technology and our all-in-one platform to meaningfully match our members with industry-leading providers and personalized offerings that can help them manage their financial needs today and plan for tomorrow,” added Choubey.

The introduction of MoneyLion Marketplace and partnership with NFP builds on the company’s recent momentum. In October 2020, MoneyLion announced a partnership with NFP Ventures to provide NFP’s employer clients with access to MoneyLion’s full suite of financial tools.

As previously announced, on February 12, 2021, MoneyLion entered into a definitive agreement with Fusion Acquisition Corp. (NYSE: FUSE), that will result in MoneyLion becoming a publicly listed company in the first half of 2021, subject to the satisfaction of customary closing conditions.

Become a MoneyLion Marketplace Partner

Companies interested in joining the MoneyLion Marketplace platform can visit moneylion.com/partners for more information.

About MoneyLion

MoneyLion is a mobile banking and financial membership platform that empowers people to take control of their finances. Since its launch in 2013, MoneyLion has engaged with 7.5 million hard-working Americans and has earned its members’ trust by building a full-service digital platform to deliver mobile banking, lending, and investment solutions. From a single app, members can get a 360-degree snapshot of their financial lives and have access to personalized tips and tools to build and improve their credit and achieve everyday savings. MoneyLion is headquartered in New York City, with offices in San Francisco, Salt Lake City, Sioux Falls, and Kuala Lumpur, Malaysia. MoneyLion has achieved various awards of recognition including the 2020 Forbes FinTech 50, Aite group best digital Wealth Management Multiproduct offering, Finovate Award for Best Digital Bank 2019, Benzinga FinTech Awards winner for Innovation in Personal Finance 2019 and the Webby Awards 2019 People’s Voice Award. For more information, please visit www.moneylion.com or download the app.

About Nationwide

Nationwide, a Fortune 100 company based in Columbus, Ohio, is one of the largest and strongest diversified insurance and financial services organizations in the United States. Nationwide is rated A+ by both A.M. Best and Standard & Poor’s. An industry leader in driving customer-focused innovation, Nationwide provides a full range of insurance and financial services products including auto, business, homeowners, farm and life insurance; public and private sector retirement plans, annuities and mutual funds; excess & surplus, specialty and surety; pet, motorcycle and boat insurance. For more information, visit www.nationwide.com. Follow us on Facebook and Twitter.

About NFP

NFP is a leading insurance broker and consultant providing customized property and casualty, corporate benefits, retirement, and individual solutions through its licensed subsidiaries and affiliates. NFP enables client success through the expertise of over 5,400 global employees, investments in innovative technologies, and enduring relationships with highly rated insurers, vendors, and financial institutions. NFP is the 6th largest US-based privately owned broker, 5th largest benefits broker by global revenue and 8th best place to work in insurance (Business Insurance); 10th largest property and casualty agency (Insurance Journal); and 13th largest global insurance broker (Best’s Review).

Media Contacts:

MoneyLion:
[email protected] 

Nationwide:
Lyndsey Kleven
[email protected] 
614-507-0485

NFP: 
Kelly Jones
[email protected] 
512-697-6273

MoneyLion is not a Licensed Insurer
MoneyLion is not a licensed insurance provider and does not engage in the “selling,” “solicitation,” or “negotiating” of insurance within the meaning of applicable state law.  All insurance quotes, products and/or policies that are obtained by MoneyLion members are provided through NFP, in its capacity as a licensed insurance broker, on behalf of its licensed insurance partners, including Nationwide. Nationwide, MoneyLion and NFP are separate and non-affiliated companies.

Forward-Looking Statements
The information in this communication includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as “estimate,” “plan,” “project,” “forecast,” “intend,” “will,” “expect,” “anticipate,” “believe,” “seek,” “target” or other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding estimates and forecasts of financial and performance metrics and expectations and timing related to potential benefits, terms and timing of the transaction. These statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of MoneyLion’s and Fusion’s management and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on by any investor as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of MoneyLion and Fusion. These forward-looking statements are subject to a number of risks and uncertainties, including changes in domestic and foreign business, market, financial, political and legal conditions; the inability of the parties to successfully or timely consummate the proposed business combination, including the risk that any required regulatory approvals are not obtained, are delayed or are subject to unanticipated conditions that could adversely affect the combined company or the expected benefits of the proposed business combination or that the approval of the shareholders of Fusion or MoneyLion is not obtained; failure to realize the anticipated benefits of the proposed business combination; risks relating to the uncertainty of the projected financial information with respect to MoneyLion; future global, regional or local economic and market conditions; the development, effects and enforcement of laws and regulations; MoneyLion’s ability to manage future growth; MoneyLion’s ability to develop new products and solutions, bring them to market in a timely manner, and make enhancements to its platform; the effects of competition on MoneyLion’s future business; the amount of redemption requests made by Fusion’s public shareholders; the ability of Fusion or the combined company to issue equity or equity-linked securities in connection with the proposed business combination or in the future; the outcome of any potential litigation, government and regulatory proceedings, investigations and inquiries; and those factors discussed in Fusion’s Annual Report, under the heading “Risk Factors,” and other documents of Fusion filed, or to be filed, with the Securities and Exchange Commission (“SEC”). If any of these risks materialize or our assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that neither MoneyLion nor Fusion presently know or that MoneyLion and Fusion currently believe are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect MoneyLion’s and Fusion’s expectations, plans or forecasts of future events and views as of the date of this press release. MoneyLion and Fusion anticipate that subsequent events and developments will cause MoneyLion’s and Fusion’s assessments to change. However, while MoneyLion and Fusion may elect to update these forward-looking statements at some point in the future, MoneyLion and Fusion specifically disclaim any obligation to do so. These forward-looking statements should not be relied upon as representing MoneyLion’s and Fusion’s assessments as of any date subsequent to the date of this press release. Accordingly, undue reliance should not be placed upon the forward-looking statements.