Marble Launches Credit Improving Boost Program
VANCOUVER, British Columbia, Oct. 20, 2021 (GLOBE NEWSWIRE) — Marble Financial Inc. (CSE: MRBL; OTC: MRBLF; FSE:2V0) (“Marble” or the “Company”), an AI-driven financial technology company that educates and helps consumers better understand and manage their current cash flow and credit towards a better financial future, is pleased to announce the launch of their new credit-improvement subscription program, ‘Boost’.
The Boost program is designed to help Canadians who have limited access to credit instruments (i.e., credit cards, department store credit cards, line of credit, etc.) that are reported to TransUnion and Equifax to assess and ascertain the consumers’ monthly credit score, by offering them Marble’s Boost program.
The Boost program is a 12-month interest-free innovative installment loan that finances and grants the MyMarble consumer a 12-month subscription to MyMarble Premium, the Company’s next generation AI-powered platform, offering financial wellness products and services.
TransUnion recently reported that in 2021, subprime consumers with a score below 670 make up the largest segment, resulting in a difficult economic environment to achieve their financial goals, especially during the COVID-19 pandemic.1 In Canada, most credit improving services are comprised of siloed solutions that lack additional support, education and technology to improve their overall financial health.
Marble’s 0% interest Boost subscription program helps members through a small monthly installment loan payment of $34.99 + tax, which is reported to both TransUnion and Equifax as a new positive tradeline to the MyMarble member’s credit report, while still providing access to Marble’s industry-leading and innovative financial tools and services.
“Launching our Boost program is an initiative to make it easier for people without a credit card or little or no credit history to improve their finances and become more financially sound with MyMarble,” said Karim Nanji, CEO of Marble. “Our primary focus is to help Canadians secure financial stability in the long term without the burden of seeking predatory lenders that offer extremely high interest rates. As more Canadians turn to alternative financial solutions amid global economic challenges, we plan to make our customers’ financial goals simple and achievable for everyone.”
Recently, the Company launched Marble Connect, its proprietary personal finance API software that seamlessly integrates the MyMarble financial wellness platform to evaluate the customers’ financial wellness as well as increase customer retention on the platform. The software offers customers access to all the products and services available on MyMarble. With an increasing range of product offerings including AI-driven technology and credit building tools like Boost, Marble continues to execute on its business strategy in improving its user experience journey to become financially fit.
In addition, the Company has engaged Thesis Capital Inc., an independent capital markets advisory firm to provide investor relations and advisory services to Marble. The initial term of the engagement is six months. Marble has granted Thesis 250,000 stock options under the Company’s stock option plan. These options expire in five years, vest in equal one-quarter amounts on the date of grant and every three-month anniversary from the date of grant and are issued at $0.12 per share.
About Thesis Capital Inc. Thesis Capital Inc is a leading independent capital markets advisory firm catering to high growth Canadian companies. They aim to provide objective advice to public and private companies on their investor relations, communications strategy, and overall market intelligence. Their strength lies in quality relationships with key stakeholders involved in the entire capital markets industry.
About Marble Financial Inc. (CSE: MRBL; OTC: MRBLF; FSE:2V0) Marbles’ proprietary MyMarble platform utilizes the power of machine learning, data science, and artificial intelligence, in leveraging its proven data-driven strategies through technology solutions Connect, Inverite, Score-Up, Fast Track, Maestro and Boost to engage in and navigate a clear path towards financial wellbeing and a meaningful credit score, since 2016, Marble is proud to have empowered thousands of marginalized consumers to a positive financial future, and we continue to establish ourselves as leaders in financial wellness through the licensing of our proprietary products on the MyMarble Platform.
For further information about Marble Financial, please visit: https://mymarble.ca
Mike Marrandino, Executive Chairman
T:(855) 661-2390 ext. 104 Email: [email protected]
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Caution Regarding Forward-Looking Information
This release contains forward-looking statements. Forward-looking statements, without limitation, may contain the words beliefs, expects, anticipates, estimates, intends, plans, or similar expressions. Forward-looking statements do not guarantee future performance. They involve risks, uncertainties and assumptions and actual results could differ materially from those anticipated. Forward looking statements are based on the opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. Except for historical facts, the statements in this news release, as well as oral statements or other written statements made or to be made by Marble, are forward-looking and involve risks and uncertainties. The forward-looking information included in this release is expressly qualified in its entirety by this cautionary statement. Accordingly, readers should not place undue reliance on forward-looking information. The Company undertakes no obligation to update these forward-looking statements, other than as required by applicable law.