Fintech
Marble Issues Annual Shareholder Letter
Vancouver, British Columbia–(Newsfile Corp. – December 22, 2021) – Marble Financial Inc. (CSE: MRBL) (OTC PINK: MRBLF) (FSE: 2V0) (“Marble” or the “Company”), an AI-driven financial technology company, is pleased to provide the following shareholder letter from Marble CEO Karim Nanji.
Dear Shareholders,
I thank you for supporting our Company and its mission to become a leader in providing financial solutions that will positively change the lives of many Canadians. It has been our goal from the onset to offer an alternative, prescriptive solution to the millions of people across Canada who are either underbanked or marginalized from mainstream financial services. In 2022, we strive to bring our unique solutions to the millions of financially underserved consumers in the United States.
2021 has been a transformative year for Marble as we were successful in accomplishing key initiatives on both operational and corporate fronts.
We augmented our direct-to-consumer customer (D2C) acquisition strategy with the launch of our business-to-business (B2B) marketing strategy that leverages our proprietary SAAS engagement platform and technology in partnering with financial services providers in the industry. This includes the release of our B2B product Marble Connect, which provides our clients with unique insights, data and scoring algorithms to better understand and assess their existing and potential customers. Mable’s technology can now be embedded inside our partners’ business processes and technology to improve the likelihood of customers transacting with them while also providing their consumers with a path towards financial wellness.
2021 was an exciting period for us as we positioned the Company for growth and expansion within the alternative financial services space. This year, we successfully accomplished multiple key corporate objectives, which included: completing the acquisition of Inverite Verifications Inc.; announcing 15 new B2B partnerships for Marble Connect and Inverite; securing a $10 million credit facility to relaunch our Fast-Track loan program; closing a $2 million financing; completing the definitive agreement for exclusivity for the Point Deductions Technology via the Marble Connect Application Programming Interface (API) and executing new product and operational initiatives.
Moreover, our Company has set new records on a number of fronts. Inverite reached a new monthly paid transactions volume milestone of 92,794 in November 2021, the MyMarble platform now has over 25,000 members and Marble Learn has increased its total course enrollments to 7,956. Additionally, Inverite has collected over 1.6 million unique customer financial data points on its platform to date. The aggregation of this data will complement our data science and machine learning initiatives and enable future monetization efforts by helping our partners conduct a more accurate financial and credit assessment of their consumers. Furthermore, we believe this would help more consumers achieve their financial goals.
As we continue to scale our Company, I wish to remind our Shareholders that the progress we made so far is only the beginning and that we are in pursuit of various growth initiatives that will take us a step closer to reaching new heights.
Fostering key B2B relationships
The acquisition of Inverite marked an important inflection point in our Company’s history as we have now brought advanced AI-driven banking verification solutions under the Marble umbrella. We now own this proprietary technology, which significantly accelerates the decision-making process for alternative lenders seeking to adjudicate consumers seeking credit.
As mentioned above, the launch of our Marble Connect, our B2B ‘white label’ API is transformational. This product and technology will benefit the alternative financial services industry by enabling businesses in this space to better understand their consumers such as their needs and qualifications. We believe it will improve customer engagement and retention, lower customer acquisition costs while increasing customer lifetime value for both Marble and our partners in the alternative financial services landscape.
To reiterate, these two platforms have established new business relationships for our B2B segment in which we announced 15 new clients in 2021 through Marble Connect and Inverite.
The growth in our B2B segment is imperative to our overall expansion strategy because it not only helps Marble penetrate new niche markets within the lending and alternative financial space but also, allows us to instantly adopt new customer data through our B2B partners who transact in both Canada and the United States. Moving forward, this will form the basis of our expansion strategy to enter the U.S. market without incurring exorbitant costs for marketing and delivering our products and services south of the border.
Focusing on our products and product development
While one of our goals is to scale up the delivery of the MyMarble platform and reach of our core product offerings, we are also focused on enhancing our product portfolio to create a multi-faceted and comprehensive offering for our users.
In July 2021, we entered into a $10 million arm’s length definitive credit facility agreement with Cypress Hills Partners Inc., a non-affiliated Canadian-based alternative specialty lender to facilitate additional Fast-Track loans. We are pleased that as of December 3, 2021, we have relaunched our Fast-Track loan program. Having the credit facility available should assist with our loan growth efforts as we are seeing increased demand for our Fast-Track loan product given the current macroeconomic environment. We also joined the Financial Data And Technology Associations (FDATA) as a member to advance our Open Banking and Data Privacy strategy. I believe that the next iteration of financial services will stem from the collection and study of user data to determine the most competitive financial solutions for consumers. This will be key to identifying distinct customer patterns, resulting in us understanding our customers better to offer them greater value in the services we deliver.
We launched two new products this past year including the ‘GIC Savings Loan’ with Jenson Graf Risk Management Inc., a leading credit solutions provider, and ‘Marble Boost’, a 12-month interest-free credit improvement program, which provides credit-challenged consumers with a unique savings and credit improvement offering. Boost offers our subscribers a 1-year paid subscription to MyMarble Premium through an innovative installment loan.
To further extend our suite of financial solutions, we will be introducing CreditMeds, a proprietary diagnostic tool that provides an online assessment to consumers and recommends debt re-structuring options based on their financial well-being.
I look forward to our future growth, scaling our platform and launching new products that are currently in development. The North American market continues to provide us with an opportunity to offer solutions for most consumers that remain underbanked and financially marginalized from mainstream financial services. I believe that we will be able to capture new opportunities within this market and help millions of underbanked and underserved consumers through our unique platform and technology.
Additions to our leadership and advisory team
We have expanded our management and advisory team with industry experts through the additions of the following individuals, who will strengthen our leadership team as we strive towards significant growth:
Lawrence Rhee – Special Situations Advisor
Mr. Rhee has been actively involved in the Canadian technology industry for over 20 years, having advised many technology companies in Canada. He has held senior investment banking and equity research leadership roles at firms such as Haywood Securities, GMP Securities and Genuity Capital.
Rose Zanic, CPA, CA – Chief Financial Officer
Ms. Zanic is a self-employed corporate finance professional with over 25 years of capital markets and corporate finance experience. She has previously served as Senior Vice-President, Corporate Finance with Wolverton Securities Ltd. for 19 years where she oversaw the firm’s corporate finance and syndication department.
Our plans for 2022 and beyond
In laying the groundwork to increase user growth and conversions in 2022, we plan to achieve multiple catalysts through the execution of impactful strategic initiatives next year. Our key focus will be to accelerate the expansion of our B2B segment, mainly through Marble Connect and Inverite to secure more business partners. We will also work towards completing and releasing new products for both our consumers and corporate clients, in order to provide a broader selection of solutions to drive revenue growth through multiple product offerings. Lastly, we are initiating our entry into the U.S. market through our existing business partnerships that are transacting on both sides of the border.
On behalf of the Marble family, we would like to thank our Shareholders for your confidence, support and patience to date. The pandemic and the macroeconomic environment have changed the financial lives of many. However, it has also brought a tremendous opportunity for Marble to capitalize on the largest sector of the economy that is not being served – the underbanked.
We anticipate a great year for Marble, and we look forward to sharing our journey and growth with all of our Shareholders. Our platform continues to gain greater customer traction, highlighted by the gains in our membership and transactional growth. We also look forward to reaching new milestones and setting the stage for another transformative year in 2022 that will lead to significant shareholder value creation.
I hope that all of you will have a wonderful holiday season in the comfort of your family and loved ones.
Happy Holidays!
Best Regards,
Karim Nanji,
CEO of Marble Financial Inc.
About Marble Financial Inc. (CSE: MRBL) (OTC PINK: MRBLF) (FSE: 2V0): Marble’s proprietary MyMarble platform utilizes the power of machine learning, data science, and artificial intelligence, in leveraging its proven data-driven strategies through technology solutions Connect, Inverite, MyMarble (formerly Score-Up), Fast-Track, Maestro and Boost to engage in and navigate a clear path towards financial wellbeing and a meaningful credit score, since 2016, Marble is proud to have empowered thousands of marginalized consumers to a positive financial future, and we continue to establish ourselves as leaders in financial wellness through the licensing of our proprietary products on the MyMarble Platform.
For further information about Marble Financial, please visit: mymarble.ca
Mike Marrandino, Executive Chairman
T:(855) 661-2390 ext. 104 Email: [email protected]
NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATIONS SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Caution Regarding Forward-Looking Information
This release contains forward-looking statements. Forward-looking statements do not guarantee future performance. They involve risks, uncertainties and assumptions and actual results could differ materially from those anticipated. Forward looking statements are based on the opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. Except for historical facts, the statements in this news release, as well as oral statements or other written statements made or to be made by Marble, are forward-looking and involve risks and uncertainties. The forward-looking information included in this release is expressly qualified in its entirety by this cautionary statement. Accordingly, readers should not place undue reliance on forward-looking information. The Company undertakes no obligation to update these forward-looking statements, other than as required by applicable law.
The fintech landscape continues to redefine itself, driven by innovation, partnerships, and groundbreaking strategies. Today’s roundup focuses on the latest digital wallet offerings, evolving payment trends, strategic collaborations, and notable funding achievements. This editorial explores the broader implications of these developments, casting light on how they shape the future of fintech and beyond.
Beacon’s Digital Wallet for Immigrants: A Gateway to Financial Inclusion
Beacon Financial, a leading player in financial technology, recently launched a digital wallet tailored to meet the unique needs of immigrants moving to Canada. This offering bridges a critical gap, enabling seamless financial integration for newcomers navigating a foreign system.
By combining intuitive technology with user-centric features, Beacon aims to empower immigrants with tools for payments, savings, and remittances. This aligns with the growing demand for tailored financial products that resonate with specific demographics.
Op-Ed Insight:
Financial inclusion is more than just a buzzword; it’s a moral imperative in the fintech space. Products like Beacon’s digital wallet highlight the industry’s potential to create tangible change. As global migration trends increase, such offerings could inspire similar initiatives worldwide.
Source: Fintech Futures.
Juniper Research Highlights 2025’s Payment Trends
Juniper Research’s latest report unveils pivotal payment trends poised to dominate in 2025. Central themes include the adoption of instant payment networks, a surge in embedded finance solutions, and the rise of crypto-backed financial products.
The research underscores the rapid adoption of real-time payment systems, fueled by increasing consumer demand for speed and efficiency. Meanwhile, embedded finance promises to blur the lines between traditional banking and non-financial services, delivering personalized and context-specific solutions.
Op-Ed Insight:
As the lines between financial services and technology continue to blur, these trends emphasize the industry’s shift toward convenience and personalization. The growing role of crypto-based solutions reflects an evolving consumer mindset, where decentralization and digital-first experiences gain precedence.
Source: Juniper Research.
MeaWallet and Integrated Finance Partner to Revolutionize Digital Wallets
MeaWallet, a prominent fintech solutions provider, has partnered with Integrated Finance to advance digital wallet capabilities and secure card data access for fintech companies. This collaboration focuses on empowering fintechs to deliver better, safer digital payment experiences.
MeaWallet’s role as a technology enabler aligns seamlessly with Integrated Finance’s goal of simplifying complex financial infrastructures. Together, they aim to create scalable, robust platforms for secure payment solutions.
Op-Ed Insight:
Partnerships like this underscore the importance of collaboration in driving innovation. As security concerns grow in tandem with digital payment adoption, solutions addressing these challenges are essential for maintaining consumer trust. The fintech ecosystem thrives when synergy and innovation coalesce.
Source: MeaWallet News.
Nucleus Security Among Deloitte’s Fastest-Growing Companies
Nucleus Security has achieved a remarkable milestone, ranking 85th on Deloitte’s 2024 Technology Fast 500 list. This achievement is attributed to its robust cybersecurity solutions, which cater to the increasingly digital fintech environment.
With cyberattacks becoming more sophisticated, fintech companies are under immense pressure to safeguard their platforms. Nucleus Security’s growth reflects the rising demand for comprehensive, scalable security solutions that protect sensitive financial data.
Op-Ed Insight:
In a digital-first world, robust cybersecurity isn’t optional—it’s fundamental. The recognition of companies like Nucleus Security signals the growing importance of protecting fintech infrastructure as the industry scales globally.
Source: PR Newswire.
OpenYield Secures Funding to Transform the Bond Market
OpenYield has announced a successful funding round, aiming to revolutionize the bond market through innovative technology. The platform promises greater transparency, efficiency, and accessibility in fixed-income investments.
This funding underscores the growing appetite for digitizing traditionally opaque financial markets. By leveraging cutting-edge technology, OpenYield seeks to democratize bond investments, making them accessible to a broader audience.
Op-Ed Insight:
The bond market, long viewed as complex and inaccessible, is ripe for disruption. OpenYield’s efforts to modernize this space highlight fintech’s transformative potential to democratize finance and empower individual investors.
Source: PR Newswire.
Key Takeaways: Shaping the Future of Fintech
Today’s developments underscore several critical themes in the fintech landscape:
- Personalization and Inclusion: Products like Beacon’s wallet highlight the importance of understanding and addressing specific user needs.
- Collaborative Ecosystems: Partnerships, like that of MeaWallet and Integrated Finance, emphasize the power of collaboration in solving industry challenges.
- Emerging Technologies: Juniper Research’s predictions affirm the continued influence of blockchain, embedded finance, and instant payment networks.
- Security at the Core: The recognition of Nucleus Security underscores the essential role of cybersecurity in fintech.
- Market Transformation: OpenYield’s funding signifies the ongoing disruption of traditional financial markets, paving the way for broader accessibility.
The post Fintech Pulse: Daily Industry Brief – A Dive into Today’s Emerging Trends and Innovations appeared first on News, Events, Advertising Options.
As fintech continues to reshape the global financial landscape, today’s briefing highlights pivotal developments, strategic expansions, and innovative launches across the industry. This op-ed explores the latest advancements with commentary on their potential impacts and challenges.
Finastra Data Breach: A Wake-Up Call for Fintech Security
Source: KrebsOnSecurity
The cybersecurity landscape is buzzing after Finastra, one of the largest financial technology providers globally, confirmed an investigation into a potential data breach. Reports suggest unauthorized access to its systems, raising concerns about data security across its client base, which includes thousands of banks and financial institutions worldwide.
Implications and Challenges
While the details of the breach remain sparse, this incident underscores a glaring vulnerability in the fintech sector—cybersecurity. As financial services increasingly rely on interconnected ecosystems, breaches like these threaten not only individual institutions but also the trust customers place in fintech platforms.
The key takeaway for the fintech industry is clear: proactive cybersecurity strategies must go beyond compliance. Real-time threat detection, robust encryption standards, and regular audits are no longer optional but essential for maintaining operational integrity.
Future Considerations
This breach could trigger a domino effect, prompting regulators to tighten security standards and requiring fintech companies to double down on investments in data protection. Startups and mid-tier players, often lacking extensive cybersecurity budgets, may face significant pressure to keep pace.
PayPal Resurrects Money Pooling Feature
Source: TechCrunch
In a bid to stay ahead of the competition, PayPal is reintroducing its Money Pooling feature, a popular tool that was discontinued in 2021. The feature allows users to pool funds collectively, catering to families, small businesses, and social groups.
Strategic Revival
This move reflects PayPal’s commitment to customer-centric innovation. By reinstating a feature beloved by its user base, the company seeks to reclaim market share lost to emerging competitors offering similar functionalities.
Broader Industry Impacts
Money pooling represents a broader trend in fintech—customized solutions that cater to niche needs. This reintroduction may inspire competitors like Venmo and CashApp to refine their collaborative payment offerings.
While this move strengthens PayPal’s ecosystem, its success will depend on seamless integration with existing services and robust fraud prevention mechanisms to avoid abuse of the feature.
Santander Expands Fintech Reach in Mexico
Source: Yahoo Finance
Santander is making waves in the Latin American fintech space with the launch of a dedicated fintech unit in Mexico. The initiative aims to capitalize on Mexico’s growing fintech adoption and digital payments market, valued at billions of dollars annually.
Strategic Significance
Santander’s expansion into Mexico highlights the region’s untapped potential. Latin America is a burgeoning market for fintech, driven by increasing smartphone penetration, a youthful demographic, and demand for accessible financial services.
Challenges on the Horizon
While Mexico offers immense opportunities, regulatory complexities and market competition from local players like Clip and Konfío pose significant challenges. Santander will need to blend its global expertise with local adaptability to succeed in this dynamic market.
2024 Global Fintech Awards: Spotlighting Excellence
Source: PRNewswire
Benzinga has announced the winners of the 2024 Global Fintech Awards, honoring companies and individuals driving innovation in financial technology. This year’s winners spanned categories like blockchain, artificial intelligence, and payment solutions.
Recognizing Industry Leaders
Awards like these highlight the collaborative spirit and entrepreneurial drive fueling fintech growth. Recognizing trailblazers not only motivates incumbents but also inspires startups to push the boundaries of innovation.
What It Means for the Ecosystem
The awards also bring attention to emerging technologies. Categories such as blockchain and AI signal the industry’s continued focus on leveraging cutting-edge tech for efficiency and scalability.
Commonwealth Central Credit Union Partners with Jack Henry
Source: FinTech Futures
Commonwealth Central Credit Union (CCCU) has announced a partnership with Jack Henry, a leading financial technology provider, for a comprehensive tech upgrade. The collaboration focuses on enhancing member experience through improved digital services.
Modernizing Member Experiences
Credit unions have often lagged behind major banks in adopting advanced digital solutions. By partnering with Jack Henry, CCCU aims to bridge this gap, offering members streamlined services such as mobile banking, automated lending, and personalized financial tools.
A Growing Trend
This partnership reflects a broader trend in the financial industry—credit unions and smaller banks embracing fintech to remain competitive. As customer expectations evolve, partnerships like this may become the norm rather than the exception.
Key Takeaways for the Fintech Industry
- Cybersecurity is Critical: The Finastra breach underscores the need for robust security measures.
- Innovation Drives Loyalty: PayPal’s revival of its Money Pooling feature highlights the importance of listening to customers.
- Regional Opportunities: Santander’s expansion into Mexico showcases the untapped potential of emerging markets.
- Recognition Matters: Awards like Benzinga’s provide valuable visibility for companies and individuals shaping the industry.
- Partnerships Foster Growth: Collaborations between credit unions and fintech companies signify a trend towards modernized financial solutions.
The post Fintech Pulse: Industry Updates, Innovations, and Strategic Moves appeared first on News, Events, Advertising Options.
The fintech sector continues its relentless drive toward innovation and market dominance. Today’s highlights include a record-breaking customer milestone for Revolut, groundbreaking fintech solutions for women in the EU, open entries for the PayTech Awards 2025, implications of political shifts on funding, and notable recognition at the US FinTech Awards.
Revolut Hits 50 Million Customers: A Global Fintech Giant’s Milestone
Source: Revolut
Revolut, the UK-based financial super app, has achieved a monumental feat: surpassing 50 million customers worldwide. This milestone underscores its position as a leader in the global fintech landscape, furthering its ambition to create the world’s first truly global bank.
Key to this success has been Revolut’s strategy of expanding its offerings, from banking to travel and crypto services, all within a seamless user experience. The company’s recent ventures into emerging markets such as Latin America and Asia demonstrate its intent to bridge financial services gaps while retaining competitive differentiation through technology.
This milestone is not just a triumph for Revolut but a signal of fintech’s capacity to redefine traditional banking. It reinforces the narrative that digital-first strategies, customer-centric innovation, and international scalability can challenge long-standing financial institutions.
PayTech Awards 2025: Celebrating Excellence in Innovation
Source: FinTech Futures
The PayTech Awards 2025 are officially open for entries, promising to spotlight the brightest minds and most innovative projects in the payment technology sector. These awards are a testament to the industry’s commitment to advancing secure, seamless, and scalable payment systems.
This year, the focus is on emerging technologies that redefine how businesses and consumers interact financially. Categories will recognize achievements across multiple domains, including sustainability in payments, AI-driven solutions, and partnerships that push boundaries.
As fintech companies prepare their entries, the awards provide a timely reminder of the sector’s ongoing evolution and the collaborative efforts required to achieve meaningful breakthroughs.
U.S. Politics and the Fintech Sector: A New Era of Funding?
Source: American Banker
The U.S. fintech sector might witness an infusion of optimism as speculation about a second Trump presidency gains momentum. The Trump-era policies of deregulation and venture capital encouragement are remembered as catalysts for unprecedented fintech growth during his first term.
While it remains uncertain how regulatory landscapes will shift, the possibility of a more relaxed approach toward fintech compliance could rejuvenate funding inflows. Investors and startups alike are watching closely, weighing the potential benefits against long-term risks tied to reduced oversight.
A politically charged backdrop often spells volatility, but for fintech, it may also spell opportunity. Preparing to adapt quickly will be crucial for startups and established players in the face of any regulatory pivot.
Klara AI and Unlimit: Addressing the €1.3 Trillion Female Economy
Source: FF News
Klara AI has teamed up with Unlimit to launch a fintech solution aimed at empowering women across the EU. This collaboration targets the €1.3 trillion female economy by addressing the unique financial needs of women entrepreneurs and consumers.
The solution promises to integrate AI-powered tools with streamlined financial management services, enabling users to access credit, manage investments, and scale businesses effectively. By tailoring services to the underserved female demographic, the partnership hopes to drive financial inclusion and support economic growth.
This initiative stands as a blueprint for fintechs exploring niche markets, proving that innovation tailored to specific segments can yield transformative results.
Autire: Accounting Tech of the Year at US FinTech Awards
Source: Business Wire
Autire, a rising star in financial technology, has been crowned ‘Accounting Tech of the Year’ at the US FinTech Awards 2024. The award recognizes Autire’s ability to blend cutting-edge AI with intuitive user interfaces, delivering unparalleled accounting solutions for businesses of all sizes.
Autire’s platform has gained traction for automating complex accounting tasks, ensuring compliance, and delivering actionable insights through real-time analytics. Its emphasis on reducing administrative burdens for SMEs has been particularly impactful, enabling entrepreneurs to focus on growth rather than bookkeeping.
The recognition not only cements Autire’s reputation but also highlights the role of AI-driven accounting solutions in reshaping business operations globally.
Final Thoughts: A Fintech Revolution in Full Swing
From customer milestones to policy-driven opportunities, the fintech ecosystem is in constant evolution. Revolut’s ascent to 50 million users signals growing consumer trust in digital platforms. The PayTech Awards continue to inspire innovation, while political shifts could redefine the regulatory landscape. Initiatives like Klara AI and Unlimit emphasize the power of targeted solutions, and companies like Autire show how niche technologies can achieve broad impact.
The next phase of fintech growth will likely hinge on inclusivity, adaptability, and innovation—pillars that today’s news stories exemplify.
The post Fintech Pulse: Milestones, Partnerships, and Transformations in Fintech appeared first on .
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