Mogo to promote Lendful’s best-in-class digital loans to its member base
Mogo, one of Canada’s leading financial technology companies, announced that it has established a new referral agreement with Lendful Financial Inc. (“Lendful”), through which Mogo will offer its members access to Lendful’s prime loan products through the Mogo app.
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“Our mission is to help Canadian consumers improve their financial health – to make smarter decisions on spending, on accessing and managing credit, and on saving for their future,” said David Feller, Mogo’s Founder & CEO. “Toward this end, we continue to build out our own suite of digital products while also establishing referral agreements for financial products we do not offer today. One of our goals is to ensure we offer the best rates on personal loans to a broader range of Canadians, including prime consumers. Fifty-six percent of Canadians carry credit card debt, in many cases at rates of 20% or higher. For many consumers, this debt can and should be refinanced to rates that could save them up to 50%, and perhaps more importantly into fixed payment installment loans that get them out of debt much quicker. Today we are pleased to announce that we have partnered with Lendful. We share Lendful’s passion for challenging the conventions of traditional financial institutions to transform the customer experience through technology and deliver a great digital experience.”
Doug Lee, Senior Vice President of Retail Distribution says: “In today’s dynamic business environment, Lendful stands out by our ability to closely collaborate with partners and channels. We focus on what is important to our customers: providing a world-class, tailor made, innovative service offering. With this referral agreement, we’re excited and committed to enabling Mogo to expand their personal loan offering.”
