Created:

2016-12-20

This NYC Startup is Exactly What You Want Before Taking Out a Loan

If you need a loan, you are not alone. Favorable loans have been difficult to come by and people don’t know where to go to get the best possible rate. This is where Even Financial comes in. The Fintech company dedicated to the supply side of financial services has built the infrastructure for loan discovery that can be integrated in a number of different applications including apps, publishing platforms, and portals.

AlleyWatch spoke with the Even Financial team and discovered how they are innovating the Fintech industry.

Tell us about the product or service.

Even Financial is the first and only dedicated supply-side platform for online financial services.

Even’s recommendation API matches customers with the right financial products and services at the right time, while providing transparency and reduced cost of acquisition to online financial service providers.

Through this, Even Financial enables a new generation of real-time online financial products and services for both business and consumers.

How is it different?

This is the first API to enable app developers and websites with direct access to often hard to reach financial services. Through a single endpoint they can integrate with over a dozen financial service providers and products. These aren’t display-ads, most often they are direct integrations into the financial service providers themselves.

What is the business model?

Developers and websites don’t pay us anything, in fact we pay them. Financial service providers pay us for access to customers and to ensure compliance across our network. We split these revenues with the app developers and websites.

What inspired the business?

Finance is slowly and progressively moving online. Services that use to be offered together within a branch model are being broken off and offered directly to consumers by specialized companies online. This is great for the consumer, but its led to a complex web of hard to navigate relationships and regulations for websites, app developers and financial service providers. Even acts as an intermediary to simplify the ecosystem for all parties.

What are the milestones that you plan to achieve within six months?

We plan continued rapid growth in volumes across loan products. Meanwhile we are progressively adding additional financial services to our API. Recently we added credit cards, and we plan to scale that out much further. In the near future we are looking to including savings accounts and eventually mortgages and insurance.

What is the one piece of startup advice that you never got?

Everyone talks about the importance of focus, but no one really ever advised on how one can cut through a world of choices to identify the true critical path. Over the past 6 months we have learned to reduce most decisions to a simple criteria based on one or two purely data driven KPIs. It took a great deal of work to make the data available, but since doing that it has brought an unprecedented level of clarity to the whole team.

If you could be put in touch with anyone in the New York community who would it be and why?

Does Ben Bernanke live in NYC? I’ve got some questions…

Why did you launch in New York?

I’m from NYC. I’ve been working at NYC startups since I was 18 and in/out of college. That, plus the fact that we are a financial services company makes it pretty much the only option in the US for me.

What’s your favorite restaurant in the city?

I really enjoy good sushi. Yasuda is my historical favorite, but recently I’ve really been enjoying Sushi On Jones.

To view the original version on AlleyWatch, visit: https://www.alleywatch.com/2016/12/nyc-startup-even-financial-exactly-want-taking-loan/

Disclaimer: The material provided on this site is not intended to provide legal, investment, or financial advice or to indicate the suitability of any Even Financial product or service to your unique circumstances. For specific advice about your unique circumstances, you may wish to consult a qualified professional. Any information or statistical data sourced by Even Financial through hyperlinks, from third-party websites, are provided for informational purposes only. While Even Financial finds these sources to be accurate, it does not endorse or guarantee any third-party content

Proven Scale & Trust

$525B+

in consumer applications for financial services

100M+

consumer profiles generated

6.5 Million+

applicants routed monthly

What our partners are saying

"Even enabled MoneyLion to... streamline our user experience, serve a broader set of our customers, and improve key monetization metrics... driving 4x+ growth since launch."

"By implementing Even’s technology, we have been able to build a multi-vertical financial marketplace and more than double revenue and engagement."

"Even has been one of our biggest drivers of growth within our personal loans vertical, and they have made it easy and flexible to provide our users the best personalized loan offers for their needs."

"... generating some of the highest approval rates and conversion rates among our online acquisition partners. The transparency and focus on data have allowed us to drive consistent growth and success each month."

"Even enabled MoneyLion to... streamline our user experience, serve a broader set of our customers, and improve key monetization metrics... driving 4x+ growth since launch."

"By implementing Even’s technology, we have been able to build a multi-vertical financial marketplace and more than double revenue and engagement."

"Even has been one of our biggest drivers of growth within our personal loans vertical, and they have made it easy and flexible to provide our users the best personalized loan offers for their needs."

"... generating some of the highest approval rates and conversion rates among our online acquisition partners. The transparency and focus on data have allowed us to drive consistent growth and success each month."

Michael Bourgeois
Michael Bourgeois
Business Lead

AWARDS

PRESS

Read all about it!

Yahoo! Finance: Even Financial Reaches $3 Billion In Credit Issued Milestone
Yahoo! Finance
Yahoo! Finance: Even Financial Reaches $3 Billion In Credit Issued Milestone
Yahoo! Finance: Even Financial Reaches $3 Billion In Credit Issued Milestone   Even has surpassed a significant threshold in credit issued, having now facilitated over $3 billion in consumer credit as of July 2021. The milestone is significant in the financial services industry, as Even has also expanded its platform to over 800 partners.    Click below to read more at Yahoo! Finance.
Even Financial Partners with Figure to Add Blockchain-Enabled Personal Loan Products to its Financial Services Marketplace
EVEN
Even Financial Partners with Figure to Add Blockchain-Enabled Personal Loan Products to its Financial Services Marketplace
New York, New York – June 2, 2021 – Even Financial (“Even”), the leading search, comparison, and recommendation engine for financial services, has announced a new partnership with Figure to launch the company’s personal loan products on the Even platform. Leveraging machine learning and advanced data science, Even solves a significant pain point in financial services acquisition by seamlessly bridging financial institutions and channel partners via its industry-leading API and embeddable solutions.   Figure is a fintech company that leverages AI, blockchain, and analytics to deliver innovative consumer financial products with speed and ease. Figure has dramatically decreased the time it takes for consumers to secure loans and has significantly reduced the costs associated with loan origination, servicing, financing, and capital markets execution. The company was founded in 2018 to unlock new access points for consumer credit products that can transform the financial lives of its customers. In addition to personal loans, it provides mortgage refinancing and home equity release solutions, including home equity lines of credit, home improvement loans, and home buy-lease back offerings for retirement.   Figure is an exciting, advanced provider that is driving transformational change in consumer credit,” said Phill Rosen, Founder and CEO of Even Financial. “We’re thrilled to welcome them to Even’s unparalleled network of loan products.”   Shwetabh Gautam, Director of Financial Institution Partnerships at Even added: “We continue to see a strong resurgence in the demand for lending products across the millions of consumers Even surfaces offers for each month. The addition of cutting-edge partners like Figure strengthens our ability to connect consumers with the loans best suited for their unique needs.”   Even offers the largest network of premium, API-connected loan providers. Enterprises and established publishers such as MoneyLion and TransUnion partner with Even to power financial product offers for loans and other financial services including insurance, credit cards, and savings. Within loans, Even continues to expand its vast offering, recently launching products for secured lending, line of credit, and auto refinancing.   The launch of Figure on the Even platform enables consumers to get matched with personal loans of up to $50,000. Figure offers a 100% online application that allows applicants to apply and see their rate in minutes and access funding in as few as two days.   “Phill and the team at Even share our vision of leveraging blockchain technology to make financial services simpler, faster, and personalized. Through the Even platform, we will be able to reach a broader and more diverse set of consumers seeking our innovative credit products,” said Brad Simmons, CMO of Figure.   Even has continued its rapid growth trajectory in 2021, facilitating over $3 billion in consumer credit issued through its API and expanding its platform to over 400 partners. Earlier this year, Even was named one of “America’s Best Startup Employers'' by Forbes for 2021 and placed in the Top 50 of the 2020 Deloitte Technology Fast 500, which recognizes the fastest growing tech companies in the world.    About Even Financial Founded in 2014, Even Financial is a B2B fintech company that is transforming the way financial institutions find and connect with consumers. As the leading search, comparison, and recommendation engine for financial services, Even seamlessly bridges financial institutions (including American Express, Goldman Sachs, and SoFi) and channel partners (such as MoneyLion and TransUnion) via its simple yet robust API and embeddable solutions. Even turns any consumer touchpoint into a comprehensive financial services marketplace with full compliance and security at scale. The company is backed by leading financial services firms and VCs, including American Express Ventures, Canaan Partners, Citi Ventures, Fidelity’s F-Prime Capital, Greatpoint Ventures, Goldman Sachs, LendingClub, and MassMutual Ventures. Learn more at www.evenfinancial.com.  About Figure Figure is transforming the trillion dollar financial services industry using blockchain technology. In three short years, Figure has unveiled a series of fintech firsts using blockchain for loan origination, equity management, private fund services, banking, and payments sectors – bringing speed, efficiency, and savings to both consumers and institutions. The company was founded in 2018 by serial technology entrepreneur Mike Cagney, who also founded SoFi and built the company into a multi-billion dollar business under his leadership as CEO. Learn more at www.figure.com.   Media Contact media@evenfinancial.com
PYMNTS: Even Launches Embedded Finance App on Salesforce
PYMNTS
PYMNTS: Even Launches Embedded Finance App on Salesforce
Now, financial advisors and other businesses will have a way to leverage Even’s platform for their clients. ‘Financial Products for Salesforce’ - Powered by Even, a plug-and-play app available on the Salesforce AppExchange, matches consumers with real-time, personalized financial product offers.   Click below to read more at PYMNTS.com.