Vancouver, British Columbia, January 23, 2018 – Mogo Finance Technology Inc. (TSX:MOGO) (NASDAQ:MOGO) (“Mogo” or the “Company”), a digital challenger to Canada’s banks, today announced it is leveraging powerful technology from customer-experience leader Plaid to make Mogo’s products even easier to use for its growing member base of over 750,000.
Mogo is leveraging Plaid’s API technology to enable more convenient access to its products and help more people more easily gain control of their financial health. Plaid’s suite of APIs is already being used by many of the most innovative and fastest-growing companies in financial services.
“As consumers continue to migrate to mobile solutions for banking, saving and investing, we are working hard to make Mogo the ‘go-to’ financial app for the next generation of Canadians,” said David Feller, Mogo’s Founder and CEO. “Today’s announcement is the next step in our plan to innovate and enhance our technology platform — both through significant in-house development and by leveraging great technology from companies like Plaid — while also expanding our offering by partnering with financial services companies that offer best-in-class financial products.”
“We’re excited to announce our partnership with Mogo today.” said Paul Williamson, Plaid’s Head of Sales. “Mogo has played a large role in building the fintech ecosystem in Canada, and it shares Plaid’s commitment to putting consumers in the driver’s seat when it comes to their financial lives.”
Mogo (TSX: MOGO; NASDAQ: MOGO) — a financial technology company — is a digital challenger to the banks in Canada, empowering consumers with simple solutions to help them manage and control their finances. Users can sign up for a free MogoAccount in only three minutes and get access to six products including free credit score monitoring, identity fraud protection, digital spending account with Platinum Prepaid Visa® Card, digital mortgage experience, the MogoCrypto account, the first product within MogoWealth, which enables the buying and selling of bitcoin, and access to smart consumer credit products through MogoMoney. The platform has been engineered to deliver a best-in-class digital experience, with best-in-class financial products all through one account. With more than 750,000 members and a marketing partnership with Canada's largest news media company, Mogo continues to execute on its vision of becoming the go-to financial app for the next generation of Canadians. To learn more, please visit mogo.ca or download the mobile app (iOS or Android).
Plaid is a technology platform that enables applications to connect with users' bank accounts. We focus on lowering the barriers to entry in financial services by making it easier and safer to use financial data. We build beautiful consumer experiences, user-friendly infrastructure, and intelligence tools that give everyone the ability to develop the future of financial services.
This news release may contain "forward-looking statements" within the meaning of applicable securities legislation. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual financial results, performance or achievements to be materially different from the estimated future results, performance or achievements expressed or implied by those forward-looking statements and the forward-looking statements are not guarantees of future performance. Mogo's growth, its ability to expand into new products and markets and its expectations for its financial performance for 2018 are subject to a number of conditions, many of which are outside of Mogo's control. For a description of the risks associated with Mogo's business please refer to the “Risk Factors” section of Mogo’s annual information form dated March 6, 2018 which is available at www.sedar.com and www.sec.gov. Except as required by law, Mogo disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, events or otherwise.
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