Even Financial has a pithy but straightforward tagline: Powering Financial Services Online. The platform matches qualified consumers with online financial products and services in real time, providing data and insight that allow for marketing institutions and other partners to increase monetization and reduce the cost of acquisition.
The company’s platform features include real-time pricing, embeddable widgets and content, pre-approval API and machine learning optimization.
Today, the platform is used by some of the leading online financial institutions, along with a partner network of 100 personal finance touch points, including publishers, mobile applications and performance marketers—such as Credit.com and The Penny Hoarder, among others.
Even Financial CEO, Phillip Rosen, talked with RewardExpert about how he got the inclination to move financial services online for the next generation.
Getting With the Times
Rosen saw a change in customer ideology years ago when he noticed that the financial sector was moving online. Different kinds of financial services that used to be bundled together as one product were being separated and offered to consumers by specialized online companies.
“It was leading to a complicated web of websites, app developers and financial service providers,” Rosen said. “Even Financial was founded to provide critical infrastructure for this ecosystem and all parties, ultimately enabling a better customer experience.”
The company claims itself as the first application programming interface, or API, to enable app developers and websites with direct access to financial services. Dozens of major financial services providers and their products could be integrated via a single endpoint. Rosen said it’s the company tools that allow for the providing of data, transparency, compliance and optimization that are essential to scaling “an increasingly programmatic” financial services industry.
Partner Sites Complete Financial Circle
Even Financial’s partner sites, including the previously mentioned Credit.com and The Penny Hoarder—as well as Credit Sesame, Smart Asset and The Balance—provide advice and a financial outlook for those individuals who have difficulty traversing financial waters online.
The Penny Hoarder is one of the largest and fastest growing person financial websites, and is identified as one of the fastest growing private media sites on the internet altogether. Sites like The Balance show that sifting through your personal finances and developing long-term strategies doesn’t have to be frightening or complicated. The site offers expert viewpoints that aid users, all without assuming users know the difference between their dividends and distributions. It’s about making money personal.
The numbers for Even Financial aren’t too shabby, either. The streamlined consumer experience and matching algorithms have led to more than $5 billion in consumer applications for personal loans, mortgages and credit cards. More than $200 million in personal loans originated in 2017, and hundreds of thousands of applications are routed monthly.
“Even Financial is rolling out new products and features, expanding on personal loans, as well as credit cards, mortgages and savings,” he said. “We’ll continue to refine and bolster our technology. Our list of new features, products and services is ever-expanding.”