Even Staff

2020-09-23

How to Create Informative Data Dashboards for Fintech

In today’s era of big data, especially when it pertains to advertising and finance, it’s critically important to be able to utilize the data your organization has for rapid insights and meaningful intelligence. At Even, data is the lifeblood of our marketplace operations and we dive deep into the data that we collect to articulate insights and findings, all of which help our teammates make rapidly well informed decisions. This is only possible via well curated analytical dashboards that are thoughtfully designed by our analytical teams, to help provide the maximum amount of insight possible to our operational teams.

 

To produce a great dashboard, we need to follow a discovery, design, and execution process where stakeholders are engaged regularly to identify key points of interest. The following need to be considered for a great dashboard:

 

Discovery

 

  • What business questions are we trying to answer? To keep the dashboard tidy and easy to understand, make sure the business questions are clearly defined and that the dashboard is designed specifically to answer those questions.
  • Who is the intended audience? Everyone has a unique communication style, and some people will want more information than others on the dashboard. Consider the audience’s role and responsibilities, and what additional ancillary information they need before designing the dash. 
  • Is this expected for an ongoing, one time, or periodic use case? Dashboards will require different levels of information and visualizations depending on how often they are used. A longer term monitoring dashboard will likely require easy to understand data visualizations, whereas dashboards optimized to one time or periodic use cases may require less visuals and more raw data.

 

Design

 

  • Selecting the right visualizations for the data: Identify the right visualizations for the information you are trying to show. If you’re monitoring things over time, best to use a line chart or bar chart.. If you’re just looking to provide aggregate data, a pie chart could be beneficial!
  • Keeping the layout of the dashboard crisp and logical: Focus people to specific visualizations on the dash by highlighting certain charts over others, and clearly delineating “key” metrics from “supporting” metrics. This could involve enlarging certain charts relative to others, and establishing a logical flow for the dash that walks the viewer through a data story. For example, you could create a summary section at the top of the dashboard, and then proceed to  more granular levels of analysis below the summary.
  • Detailed labeling and formatting: The devil is in the details with numbers—make sure units are correctly formatted and articulated on the dash, and that the dashboards have clearly labeled series and titles. This is especially important to ensure that viewers of the dashboard are consistently understanding the metrics throughout the dash.
  • Ensure a clean backend and easy to understand underlying queries: Make sure that the data sources from which you are pulling your data easily support the analytics you are trying to generate. This may involve working with your Data Engineering team or Analytics teams to perform ETL to ensure that you have everything you need in an easily accessible format.

 

Execution

 

  • Scope the dashboard out and break up the work into digestible chunks: While it may seem like a good idea to experiment with visualizations and produce things on the go, sometimes for a larger dashboard it’s more time efficient to produce a design spec and then break down the work into smaller chunks. This allows for rapid iteration of the design while still moving the dashboard forward towards completion.
  • Touch base regularly with stakeholders: Make sure to stay in touch with your stakeholders and partners throughout the process. Dashboards should be built to answer business needs—and it's rare that business needs stay unchanging over a long period of time.
  • Bake in time for final revisions: Before considering a dashboard is complete, make sure to add in a week or two for final revisions. This time will allow you to refine the metrics, visualizations, and layout of the dashboard to produce more meaningful insights.
  • Test the pipeline and make sure the dashboard runs in a performant manner: Be sure to perform test runs of the dashboard and perform regular QA on it for the first several weeks after launch. Not only does your dashboard need to produce the right insights to support decision making, but your audience needs to be able to get it in a quick way. Load times of 10+ mins are highly discouraged, and at Even we work to keep most dashboard load times below one minute!

 

At Even, we do all this and more for internal data dashboards, when we work with our enterprise partners to produce custom reporting dashboards, and during the process of developing the Even Benchmark Report. We strive to consistently enable our partners to make agile and proactive decisions by providing them extensive insights and transparency at scale. The above methodology makes that possible—and we hope you’re able to gather learnings from it to utilize in your own data dashboards! 

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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.

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Nuula adds Term Life Insurance feature, powered by Even Financial
TORONTO, Aug. 4, 2022 -- Nuula, a fintech company focused on providing small businesses the tools and the capital they need to succeed, today announced a new Term Life Insurance feature that provides small business owners and entrepreneurs with coverage options from a network of top carriers, powered by Even Financial ("Even"), a leading embedded finance marketplace platform, and independent subsidiary of MoneyLion Inc. ("MoneyLion") (NYSE: ML). Through the Nuula app, users will now be able to shop, compare and buy Term Life Insurance, with policies up to $5MM in coverage and terms of 10-40 years. The policies in Nuula's new Term Life Insurance feature are generated and serviced by LeapLife, an insurtech platform and licensed life insurance agency, that is owned and operated by Even. "While small business owners and entrepreneurs are investing in their business, they also need to more easily invest in themselves and in the security of their loved ones," said Mark Ruddock, CEO at Nuula. "Adding Term Life Insurance further expands the range of services we are delivering to meet the diverse needs of today's small business owner." "Policyholders want a simpler way to shop around, compare policies and prices, and find a policy that is right for them," said Andrew Naoum, SVP of Sales at Even. "By partnering with Even, Nuula's small businesses are provided with a curated network of carriers rated A- and above by AM Best, world-class customer support and a search feature that matches people with the right policies and lowest available prices when and where they need it." Today's news follows the launch of a new personal loan search feature aimed towards early-stage small businesses, powered by Even. About Nuula Nuula is building the future of small business performance. Launched in 2021, Nuula is a financial services and technology company focused on serving the small to medium-sized business community. Nuula provides real-time data and analytics, allowing businesses to manage their finances, monitor their credit ratings and user reviews, and more. Nuula is an advocate of financial inclusivity and a proud partner to Kiva to create economic and social good. To learn more about Nuula, visit www.nuula.com. About Even Financial and LeapLife Even is the industry-leading embedded financial marketplace and independent subsidiary of MoneyLion Inc. ("MoneyLion") (NYSE: ML). MoneyLion is the go-to destination for personalized financial management, content, offerings and advice. As part of MoneyLion's enterprise offering, Even digitally connects and matches consumers with real-time, personalized financial product recommendations from banks, insurance carriers, and fintech companies on mobile apps, websites, and other digital touchpoints through its marketplace technology. Even's infrastructure leverages machine learning and advanced data science to solve a significant pain point in financial services customer acquisition, seamlessly bridging financial services providers (such as SoFi) and channel partners (such as TransUnion) via its industry-leading API and embedded finance marketplaces. Even enables any company to add financial products to its business, with full compliance and security at scale. Even was named one of "America's Best Startup Employers'' by Forbes for 2022 and was named to the 2021 Deloitte Technology Fast 500, which recognizes the fastest growing tech companies in the world. Learn more at www.evenfinancial.com and investors.moneylion.com. LeapLife is a licensed 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, available in all 50 states. LeapLife was acquired by Even Financial (Even) in early 2020. Learn more at www.leaplife.com.
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Even Financial Adds Tally's Low-Interest Line of Credit to its Embedded Finance Marketplace
NEW YORK, NY, March 15, 2022 -- Even Financial ("Even"), the category-leading embedded finance marketplace and independently managed subsidiary of MoneyLion, Inc. (NYSE: ML), has announced a new partnership with Tally, a leading financial automation company, to include the company's low-interest credit offerings on its platform. "Tally has built a powerful tech-enabled system to help people solve one of the biggest financial problems today: paying off credit card debt," said Phill Rosen, Founder and CEO of Even. "We're thrilled to welcome Tally's line of credit offerings to Even's unparalleled network of financial services providers." Tally is designed to help its members pay off their debt faster and save them money on interest and late fees. Members can lower their monthly payment with Tally's lower-interest line of credit, if eligible. Typically, at least a 580 FICO score is needed. Tally's system is customized to save people as much money as possible. "Americans today owe nearly $1 trillion in credit card debt. We know from our research that many want to pay down their debt but struggle to get started. That's where Tally comes in," said Jason Huynh, VP of Credit, Analytics & Operations at Tally. "Our system combines financial automation with a low-interest line of credit to give people the help they need to get on track to pay off their credit card debt for good. We're thrilled that our partnership with Even will allow Tally to help even more people." The launch of Tally on the Even platform enables consumers to get matched with Tally's custom, low-interest line of credit accounts of up to $25,000 in just a few minutes. After getting matched, eligible consumers complete the process through the Tally app. There are no out-of-pocket costs. Tally is the latest partner to join the Even marketplace, a growing network of over 400 financial services partners and 500 channel partners covering a breadth of financial services including loans, credit cards, mortgages, savings, and insurance products. Even's marketplace technology enables any company to add financial products to its business, with full compliance and security, at scale. About Even Financial Even digitally connects and matches consumers with real-time, personalized financial product recommendations from banks, insurance carriers, and fintech companies on mobile apps, websites, and other digital touchpoints through its marketplace technology. Even's infrastructure leverages machine learning and advanced data science to solve a significant pain point in financial services customer acquisition, seamlessly bridging financial services providers (such as SoFi) and channel partners (such as TransUnion) via its industry-leading API and embedded finance marketplaces. Even enables any company to add financial products to its business, with full compliance and security at scale. Even was named one of "America's Best Startup Employers'' by Forbes for 2021 and was named to the 2021 Deloitte Technology Fast 500, which recognizes the fastest growing tech companies in the world. Learn more at www.evenfinancial.com. About Tally Tally is a consumer financial tech company pioneering full-service financial automation to help people save money, pay down their debt and reach their goals sooner. Founded in 2015, the company built the first fully automated debt manager to help put billions of dollars back in people's pockets. In 2021, Tally was named to Fast Company's Most Innovative Companies list and to Quartz's Best Companies for Remote Workers. Previously, Tally made Forbes' Next Billion Dollar Startup list, Forbes' Fintech 50 list, and the app won Real Simple's Smart Money award. Learn more at meettally.com. Media Contacts media@evenfinancial.com press@meettally.com
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Even Financial’s Embedded Finance Marketplaces Surpass $5 Billion in Credit Facilitated
NEW YORK, NY, April 19, 2022 -- Even Financial (“Even”), the category-leading embedded finance marketplace and independent subsidiary of MoneyLion, Inc. (NYSE: ML), has announced it has now facilitated over $5 billion in consumer credit, as of March 2022. Leveraging machine learning and advanced data science, Even solves a significant pain point in financial services customer acquisition by seamlessly bridging financial service providers and channel partners via its industry-leading API and embedded finance marketplaces. “Surpassing $5 billion in consumer credit facilitated through our marketplace is an enormous achievement for Even as we continue to help build the future of finance technology,” said Phill Rosen, Founder and Chief Executive Officer. “Access to credit has long been a challenge for many hard-working Americans, and we are dedicated to alleviating this issue by providing consumers personalized financial services offers that meet their needs, when they need it most. Reaching the $5 billion milestone reaffirms that our mission is driving significant value for both consumers and our partners." Even has grown its embedded finance marketplace offerings beyond loans to cover a breadth of additional financial services including credit cards, mortgages, savings, and insurance products. Within loans, Even offers the largest network of premium, connected loan providers - across a wide array of products including unsecured personal loans, secured personal loans, line of credit, student loan refinancing, and auto loan refinancing. Leading financial services providers, such as LendingClub and SoFi, partner with Even to reach qualified consumers searching for loans, benefiting from Even’s unparalleled network and native integrations. The company has continued its rapid growth trajectory in 2022, growing its network to include over 400 financial services partners and 500 channel partners. Even's marketplace technology enables any company to add financial products to its business, with full compliance and security at scale. Earlier this year, Even announced the close of its acquisition by MoneyLion, the award-winning digital financial platform, which will continue to advance their combined efforts of providing financial access and advice to hard working Americans. About Even Financial Even digitally connects and matches consumers with real-time, personalized financial product recommendations from banks, insurance carriers, and fintech companies on mobile apps, websites, and other digital touchpoints through its marketplace technology. Even's infrastructure leverages machine learning and advanced data science to solve a significant pain point in financial services customer acquisition, seamlessly bridging financial services providers (such as SoFi) and channel partners (such as TransUnion) via its industry-leading API and embedded finance marketplaces. Even enables any company to add financial products to its business, with full compliance and security at scale. Even was named one of "America's Best Startup Employers'' by Forbes for 2022 and was named to the 2021 Deloitte Technology Fast 500, which recognizes the fastest growing tech companies in the world. Learn more at evenfinancial.com. Media Contact media@evenfinancial.com