Marble Financial surpasses 20,000 member milestone on the MyMarble financial wellness platform

Marble Financial Inc. has surpassed the 20,000 member milestone as it continues to establish itself as the most effective digital financial technology wellness solution for goal-driven Canadians.

The company said its announcement has been fuelled by growing partnerships and brand awareness initiatives, combined with multiple 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 member base in November 2020, the company said it has seen a healthy average member growth of 30% month-over-month with an average attachment rate to the premium subscription of 7%. 

READ: Marble Financial joins the Financial Data and Technology Association for open banking advocacy

During the COVID-19 pandemic, the SaaS industry was one of only three business sectors that showed growth, according to Stats Canada, mainly due to beneficial business circumstances when it came to continual growth when navigating the global pandemic in early 2020. 

Marble said the pandemic enabled it to adapt quickly through launching multiple products in a short space of time while acquiring new members, improving efficiencies, and staying true to its mission and strategy, as the business was perfectly suited to working remotely.

All of Marble’s 20,000 members have exclusive access to the MyMarble community, a freemium-based platform that empowers Canadians to build the perfect foundation of budgeting and cash flow analysis, credit insights, and financial literacy discussion. MyMarble members can act on the insights gleaned through the credit and banking data collected through the company’s proprietary data verification solution, Inverite and Point Deduction Technology. 

Through Marble’s algorithmic audience segmentation, the data accumulated on each member month-over-month showcased member behaviour in respective areas of personal finance to recommend further revenue-generating solutions to accelerate the members’ goal toward optimal financial wellness.

“Over the past 24 months, we have heavily invested in developing a broader product eco-system that is built on a sustainable and ethical acquire, retain, and monetize method,” said Marble CEO Karim Nanji in a statement.

“Along with recent marketing partnerships, it is great to see our efforts driving strong member growth despite the economic impacts of COVID-19. Given the challenges many Canadians face when it comes to improving their financial literacy and managing the finances, this growth is being led by a desirable segment of motivated Canadians that don’t have access to affordable or major financial solutions and are proactive in the need to get the ball rolling. We truly believe in being transparent and executing on our mission of nourishing confidence in people to redefine their financial health.”

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Story by ProactiveInvestors