Internship
Mobile banking app for financial management
$25 - $30/hr
New York, NY, USA
Expected full-time schedule in the NYC office.
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MoneyLion offers a mobile banking app that helps individuals manage their finances by providing services such as personal loans, auto loan refinancing, student loan refinancing, life insurance, credit cards, and savings calculators. The app allows users to access financial tools that were once only available to wealthy individuals, making financial services more accessible to everyone. Users can borrow, save, invest, and earn rewards all in one place. MoneyLion generates revenue through interest on loans, fees from financial products, and premium memberships. It stands out from competitors by focusing on providing a comprehensive suite of financial products and services, along with features like cashback rewards and automated investing. The goal of MoneyLion is to empower users to take control of their financial future with convenience and confidence.
Company Size
501-1,000
Company Stage
IPO
Headquarters
New York City, New York
Founded
2013
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Health Insurance
Dental Insurance
Vision Insurance
Life Insurance
Disability Insurance
401(k) Company Match
Unlimited Paid Time Off
Parental Leave
Flexible Work Hours
Wellness Program
New York sues DailyPay and MoneyLion, alleging abusive lending practices.
The New York State Attorney General sued earned wage access providers DailyPay and MoneyLion on Monday (April 14), accusing them of illegal and deceptive conduct and abusive lending practices. The lawsuits allege that the companies’ services are payday loans and that the fees the companies charge on these short-term loans can amount to annual interest rates of as much as 750%, according to a Monday press release. They also allege that the lenders use abusive tactics to push borrowers to take out new loans to cover gaps created by earlier ones, per the release
Gen Digital's acquisition of MoneyLion is set to close on April 17, following shareholder approval and regulatory clearance. MoneyLion will become a subsidiary of Gen Digital, and its stock will be delisted. The acquisition, announced on Dec. 10, aims to integrate MoneyLion's financial tools with Gen Digital's cybersecurity solutions. Gen Digital reported a 4% revenue increase and a 13% rise in operating income in its latest earnings release.
Within the FinTech space, a surge in dealmaking over the past few months is taking shape as macro factors set the stage for mergers, acquisitions and go-private deals. The cost of capital is high, and the uncertainty of consumer demand and the Federal Reserve’s path on interest rates linger. Going private helps firms escape the volatility of public markets as issuing stock or debt is no sure way to shore up balance sheets and shares routinely swing by double-digit percentages day by day
Developed in partnership with MoneyLion (NYSE: ML), Stifel Discover utilizes MoneyLion's mFeed technology to provide personalized content experiences.