Marble Financial : Passes 20,000 Member Milestone On The My Financial Wellness Platform
Vancouver, BC – Marble Financial Inc. (CSE: MRBL; OTC: MRBLF; FWB: 2V0) (‘Marble’ or the ‘Company’), an AI-powered financial technology company that trains Canadians to better understand their current situation and manage cash flow and loans for a better financial future, is pleased to announce that it has passed the 20,000 member milestone as it continues to establish itself as the most effective digital financial technology wellness solution for all goal-oriented Canadians.
Today’s announcement was driven by growing partnerships and brand awareness initiatives combined with several new Software-as-a-Service (SaaS) digital financial wellness products through Marble’s AI-powered technology ecosystem, MyMarble. Since launching the first iteration of MyMarble to its membership base in November 2020, the company has seen healthy average membership growth of 30% month over month with an average premium subscription retention rate of 7%.
Since the beginning of the COVID-19 pandemic, the SaaS industry has been one of only three businesses that have seen growth, according to Stats Canada (1). This was mainly due to the favorable business conditions when it came to continued growth in tackling the global pandemic in early 2020. In the case of Marble, this enabled the company to adapt quickly by launching multiple products while attracting new members, while staying true to its mission and strategy. The business was perfect for working remotely, the supply chain was intact and continuous technological development with tight financial conditions was a matter of course.
All 20,000 members of Marble have exclusive access to the MyMarble Community, a freemium-based platform that enables Canadians to create the perfect foundation for budget and cash flow analysis, credit insights, and financial literacy discussions. MyMarble members can act on insights from credit and banking information gathered through Marble’s proprietary data verification solution, Inverite and Point Deduction TechnologyTM. Through Marble’s algorithmic audience segmentation, the data collected from each member month after month showed member behavior in their respective areas of personal finance to recommend further revenue-generating solutions to accelerate members’ goal towards optimal financial wellbeing.
“Over the past 24 months we have invested heavily in developing a broader product ecosystem that is built on a sustainable and ethical method of buying, keeping and monetizing,” said Karim Nanji, CEO of Marble. “Coupled with recent marketing partnerships, it is great to see our efforts drive strong membership growth despite the economic impact of COVID-19. Given the challenges many Canadians face in improving their financial literacy and managing finances, this growth is being led by a desirable segment of motivated Canadians who lack access to affordable or critical financial solutions and who are proactive in the need to bring the ball rolling. We strongly believe in being transparent and fulfilling our mission of building trust in people to redefine their financial health. ‘
About Marble Financial Inc. (CSE: MRBL; OTC: MRBLF; FWB: 2V0) Marbles’ proprietary MyMarble platform leverages the power of machine learning, data science and artificial intelligence to drive its proven data-driven strategies through Inverite’s technology solutions, Score-Up Engage Fast Track and Maestro and follow a clear path to financial wellbeing and meaningful credit. Marble prides itself on providing positive financial futures for thousands of marginalized consumers since 2016, and we continue to build ourselves as a leader in financial wellness by licensing our proprietary products on the MyMarble platform.
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This press release contains forward-looking statements. Forward-looking statements may contain the words believe, expect, anticipate, estimate, intend, plan or similar expressions without limitation. Forward-looking statements are not guarantees of future performance. They involve risks, uncertainties and assumptions and actual results could differ materially from those expected. Forward-looking statements are based on the opinions and assessments of management at the time of publication and are subject to a variety of risks and uncertainties as well as 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 press release, oral and other written statements by Marble are forward-looking and involve risks and uncertainties. The forward-looking information contained in this press release is expressly restricted in its entirety by this cautionary notice. Accordingly, readers are cautioned not to place undue reliance on forward-looking information. The company assumes no obligation to update these forward-looking statements unless required by applicable law.