MoneyLion, Zogo Partner to Promote Financial Literacy

Digital financial services platform MoneyLion has teamed up with financial literacy company Zogo to provide financial education for MoneyLion’s 3 million-plus customers.

“The partnership offers an essential blend of holistic and technological innovation that for many years has been left out of the banking and education industries,” the companies said in a news release Monday (Aug. 15). “This is Zogo’s largest integration with a Fintech platform since its conception in 2018.”

With this partnership, MoneyLion users get access to Zogo’s “bite-sized education modules” through the MoneyLion app’s Today Feed content.

See also: Zogo: How A 21-Year-Old Duke University Grad Is Reinventing Financial Literacy

Zogo is an app-based financial education tool that founder and CEO Bolun Li has described to PYMNTS as something akin to a Rosetta Stone language course, but for personal finance. It’s designed to break down the larger topics in a consumer’s financial life into “bite-sized” teaching modules that are easily digestible.

In the case of the MoneyLion/Zogo partnership, users can learn about topics that include investing, saving, budgeting, credit scores, applying for loans and entrepreneurship, the companies said in the release.

“Partnering with a premier [neobank] such as MoneyLion is a pivotal step toward Zogo’s goal to bolster investor education for consumers’ prosperous financial futures,” Li said in the release. “This is one of our biggest leaps in the Fintech space, driving us closer to our overall mission of reinventing financial education than ever before.”

In an interview with PYMNTS last month, NCR Digital Banking President Doug Brown said financial institutions have a responsibility to try and reverse the trend of young people learning about financial matters from social media.

Learn more: Financial Literacy Should Be Left to Community Banks and Credit Unions, Not TikTok

“The FIs need to reach out and meet these customers where they are, where they want to be met,” Brown said. “That does involve an education curriculum model that they can extend out, usually through digital format. We have a lot of clients who do it in that manner.”