Created:

2016-12-20 00:00:00

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

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

$400B+

in consumer applications for financial services

60M+

consumer profiles generated

2 Million+

applicants routed monthly

Awards

What Our Partners are saying

Building meaningful, long-lasting relationships

"Lending Club has enjoyed a prosperous relationship with Even Financial, 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."

Bill Walsh, VP Personal Loans Marketing

"Even’s technology platform provides a streamlined consumer experience, helping millennials with no collateral, budget, or saved money. Even’s impressive matching algorithms simplify the process of finding the best personal loans to meet your needs."

Kyle Taylor, CEO

"Even has built a truly modern and easy-to-use platform for the financial services marketing world. They make it easy to develop consumer-friendly, innovative products in a space dominated by legacy platforms."

Sam Yount, Founder PersonalLoanPro (Former CMO, Lending Tree)

"We are proud to partner with Even Financial. Their wide-reaching network and tech integrations bring in qualified, high-converting leads, and their team has been a pleasure to work with."

Andrew Zoeller, Digital Program Director

Press

Read all about it

Even Financial Achieves SOC 2 Type I Compliance

<div>NEW YORK, NY — July 15, 2020; </div> <div> </div> <div>Even Financial, the leading API for financial services search, acquisition, and monetization, today announced that it has successfully completed a Service and Organization Control (SOC 2) Type I examination for its industry-leading API. The audit was conducted by Schneider Downs &amp;amp; Co. and confirms that Even's security practices, policies, procedures, and operations meet the SOC 2 standards for security, availability, and confidentiality. Offering best-in-class privacy and data security goes hand-in-hand with our ability to provide superior service to our financial institution and channel partners, said Phill Rosen, Founder and Chief Executive Officer of Even. Earning a SOC 2 certification reinforces our ongoing commitment to the security, availability, and processing integrity of the Even platform.</div> <div> </div> <div>Developed by the American Institute of CPAs, the SOC 2 audit and certification requires companies to establish and adhere to strict information security policies and procedures, which can include the security, availability, confidentiality, processing integrity, and privacy of user data. Independent audits against a common standard, such as SOC 2, ensure that Even&amp;rsquo;s partners know it meets this standard to securely manage and protect their data.</div> <div> </div> <div>Founded in 2015, 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 TransUnion and The Penny Hoarder) via its industry-leading API. Even turns any consumer touchpoint into an ROI-driven, fully customizable, programmatic acquisition source with full compliance and security at scale. Even's investors are leading financial services firms and VCs, including American Express Ventures, Canaan Partners, Citi Ventures, F-Prime Capital (Fidelity), Greatpoint Ventures, Goldman Sachs, LendingClub, and MassMutual Ventures.</div> <div> </div> <div>Media Contact — media@evenfinancial.com</div>

Goldman Sachs-backed Even Financial, a digital matchmaker between banks and customers, just bought an insurance startup as life insurers are seeing policy applications boom

Even Financial has acquired LeapLife, a leading insurtech platform. The addition of LeapLife allows Even to immediately commence its insurance capabilities, aimed at simplifying and enhancing the way consumers search, compare, and get matched with insurance policies (LeapLife’s existing platform will continue to operate from leaplife.com). Business Insider wrote an article about it, interviewing our CEO and Founder Phill Rosen.

Even Financial Launches Insurance Offerings With Strategic Acquisition of LeapLife, a Leading Insurtech Platform

Pioneering B2B Fintech Expands its Industry-Leading Financial Services Monetization Platform to Help Insurance Carriers Find and Connect with Consumers New York, New York – April 22, 2020 – Even Financial (Even), the leading API for financial services search, acquisition, and monetization, announced today that it will be launching services for the insurance industry through the acquisition of LeapLife, an insurtech platform and digital life insurance agency.  The addition of LeapLife allows Even to immediately commence its insurance capabilities, aimed at simplifying and enhancing the way consumers search, compare, and get matched with insurance policies (LeapLife’s existing platform will continue to operate from leaplife.com). Even and LeapLife now offer the only full end-to-end, multi-carrier digital life insurance marketplace experience. Over the coming weeks, Even will further integrate LeapLife’s technology and insurance offering into its industry-leading API, making turnkey insurance marketplaces programmatically available to a vast network of channel partners — when and where their consumers are most in need — while also enabling the company to expand to other insurance sectors, including homeowners, renters and auto insurance. This adds to Even’s peerless breadth of real-time, personalized financial product offers — an expansive suite that already includes loans, savings, credit cards, and more.  “Even’s goal to evolve how financial institutions find and connect with consumers is not limited to loans or credit cards, but applicable to all financial products and services, including insurance,” said Phill Rosen, Even Founder and CEO. “Despite its importance, purchasing life insurance is often an overwhelming and inconvenient experience. With more than $600 billion in premiums paid each year, and only 6% of policies sold completely online, we see tremendous opportunities to help modernize the life insurance industry and offer solutions that solve challenges for consumers and carriers alike.”  LeapLife is an established insurtech platform and digital life insurance agency that utilizes data science, deep underwriting knowledge, and proprietary technology, enabling consumers to apply for instant-decision life insurance policies with real-time quotes. LeapLife works with many best-in-class insurance carriers to offer consumers a seamless experience from beginning to end. This approach made Even and Leaplife a perfect match. As a digital insurance broker, LeapLife offers personalized life insurance recommendations based on a consumer’s unique needs. Paired with the Even API, which enables customer acquisition for insurance to be native and programmatic, consumers benefit from a more streamlined, transparent, and highly personalized experience when shopping for life insurance.  Just as Even’s 2018 acquisition of Birch (the award-winning credit card rewards app) allowed the company to accelerate its expansion into credit cards, the addition of LeapLife will similarly put Even at the forefront of consumer insurance offerings.  Charles Svirk of MassMutual Ventures, an investor in Even, said “The Even and LeapLife teams share a vision that the future of insurance acquisition will rely on the power of data-driven, programmatic distribution. We are thrilled to support them as their industry experience, impressive technology, and trusted relationships will help scale Even’s insurance offering and build partnerships to provide these critical innovations in insurance acquisition.” The Even API and platform solve significant, long-standing pain points in financial services acquisition by seamlessly connecting supply and demand. Even has continued its rapid growth trajectory in 2020, surpassing over $1.5 billion in credit issued through its API and expanding its platform to over 400 partners. Even has secured over $55 million in funding from major financial institutions, venture capital firms, and fintechs to back its goal to evolve the financial services acquisition ecosystem.   About Even Financial Founded in 2015, Even Financial is a B2B fintech company that is transforming the way financial institutions find and connect with consumers. By seamlessly bridging financial institutions (including American Express, Goldman Sachs, and SoFi) and channel partners (such as TransUnion and The Penny Hoarder) via its industry-leading API, Even turns any consumer touchpoint into an ROI-driven, fully customizable, programmatic acquisition source for financial product offers with full compliance, security, and scale across loans, savings, credit cards, insurance, and more. Even is backed by leading financial services firms and VCs including American Express Ventures, Canaan Partners, Citi Ventures, F-Prime Capital (Fidelity), Greatpoint Ventures, Goldman Sachs, LendingClub, and MassMutual Ventures. Even is the leading search, comparison, and recommendation engine for financial services. Media Contact: media@evenfinancial.com