Marketplace lender Prosper launched its first mobile app, designed to provide customers with the tools to help make smarter financial decisions, the company announced on Thursday (March 10).
The free Prosper Daily mobile app will enable users to view their financial accounts in a single place, budget, track spending, identify unknown charges and monitor their free credit score, which will be updated on a monthly basis.
“By using Prosper Daily just a few minutes a day, consumers can begin to get on top of their finances,” Aaron Vermut, CEO of Prosper Marketplace, explained in a statement. “We’re excited to be the first marketplace lender to offer a financial wellness app to consumers.”
According to a recent Prosper Marketplace financial wellness study, just 38 percent of Americans have a financial plan in place, which the company said points to a significant need for financial wellness tools and guidance geared towards consumers.
But it seems like the tide may be turning on how much consumers care about FinTech.
The study found that as many as 60 percent of Americans show a willingness to improve their lack of financial stability, and more of them are relying on technology to help them reach their goals. Of the surveyed base, 65 percent said they were currently using some form of technology, such as an app, to gain a tighter grip over their finances.
The Prosper Daily app is actually the next iteration of the BillGuard app, and with this release, BillGuard users will continue as Prosper Daily users.
“We’re just getting started with Prosper Daily,” Itzik Cohen, chief business officer of Prosper Marketplace, added. “Our goal is to create a new type of personal finance app. We plan to use Prosper’s marketplace innovations in lending and investing to introduce new capabilities in the app that we think will be very meaningful to all of our users.”