BUSINESS STRATEGY

H&R Block Partners with Mix to Launch Spruce (SM) Mobile Banking Platform

MX | February 18, 2022

Mobile Banking Platform
Mx and H&R Block together launched the Spruce mobile banking platform to promote greater financial inclusion. MX is the financial data platform and leader in modern connectivity. Spruce provides customers with increased transparency into how they spend, save, and manage their money, as well as assistance in reaching their financial objectives, thanks to MX data improvement. MetaBank, N.A. is the issuer of Spruce.

Spruce contributes to financial inclusion for millions of Americans by providing increased transparency, access, and assistance in achieving financial goals.

Les Whiting, Chief Financial Services Officer, H&R Block said, "MX's data will enhance the customer experience of our Spruce mobile banking platform and provide the visibility and insights customers need into their finances. MX's data enhancement capabilities are an important feature of the Spruce mobile banking platform.”

Spruce combines premier neobank capabilities and H&R Block's trusted knowledge with MX's industry-leading data augmentation solutions. With MX's data upgrade, Spruce customers will have a complete view of their spending history with merchant names and locations. The Spruce mobile banking software is intended to assist individuals who wish to improve their money management skills.

"H&R Block helps millions of Americans every year with their tax returns. This is the next step and we're excited to partner with them for the launch of Spruce." 

Nate Gardner, Chief Customer Officer, MX

Spotlight

It is with great pleasure I introduce you to the GFUN coin. As a participant in the resources industry for many years, and the founder of the Revolution Metals Ltd Gold company, I am bringing you the opportunity in both Cryptocurrency and Gold with a unique pairing that will ensure growth through the combined liquidity of both sectors

Spotlight

It is with great pleasure I introduce you to the GFUN coin. As a participant in the resources industry for many years, and the founder of the Revolution Metals Ltd Gold company, I am bringing you the opportunity in both Cryptocurrency and Gold with a unique pairing that will ensure growth through the combined liquidity of both sectors

Related News

TECHNOLOGY,FINANCE

NerdWallet To Acquire On The Barrelhead

NerdWallet, Inc. | June 24, 2022

NerdWallet, Inc. (Nasdaq: NRDS), a platform that provides financial guidance to consumers and small- and mid-sized businesses (SMBs), announced the entry into an acquisition agreement with On the Barrelhead, Inc., a data-driven platform that provides consumers and SMBs with credit-driven product recommendations to help improve their financial lives. Through this acquisition, On the Barrelhead will fully integrate into NerdWallet’s existing teams, brand, products and technology. NerdWallet’s trusted brand and knowledgeable financial guidance paired with On the Barrelhead’s proprietary data and technology solutions will enable consumers and SMBs to match with better financial products and make smarter money moves. “Our vision for a trusted financial ecosystem means we’re able to provide consumers and SMBs with a trusted platform to learn about various financial topics, shop for products, connect their data and receive data-driven nudges, On the Barrelhead’s data and technology solutions will help us advance toward our goal by enabling us to leverage consumer information to provide users with relevant financial guidance and more personalized and compelling product recommendations. Their differentiated technology solutions and NerdWallet’s trusted brand and reach will also strengthen our footprint in the lending space by providing significant value to our partners.” -Tim Chen, CEO and Co-founder of NerdWallet. On the Barrelhead was founded with a goal to help consumers and SMBs understand and navigate their loan options to improve their finances. Their platform provides consumers and SMBs with highly personalized credit recommendations by intelligently matching customer credit information with financial partner data. By leveraging data analysis, On the Barrelhead’s platform also helps users improve their finances by surfacing new product recommendations to manage their debt and save them money. “Finding trustworthy guidance and recommendations on how to access capital and consolidate debt is hard to come across for consumers and SMBs, We are excited to be joining NerdWallet’s dedicated and knowledgeable team to unlock more ways for our users to optimize their finances.” -Sam Yount, CEO and Co-founder of On the Barrelhead. NerdWallet expects that its trusted brand and massive reach combined with On the Barrelhead’s differentiated technology will unlock profitable growth at scale and help advance toward becoming a trusted financial ecosystem. In addition to NerdWallet’s ongoing expansion into new financial categories and geographies, this acquisition reinforces NerdWallet’s ability to vertically integrate, as proven with its successful acquisition of Fundera. For the twelve months ended December 31, 2021, On the Barrelhead generated approximately $38 million in revenue, growing roughly 90% year-over-year, and $5 million in net income. NerdWallet believes the acquisition of On the Barrelhead would have been accretive to NerdWallet’s revenue and adjusted EBITDA for the year ended December 31, 2021. NerdWallet expects the acquisition will be accretive to NerdWallet’s 2022 revenue and adjusted EBITDA and reconfirms previously announced expected year-over-year increase in its 2022 annual adjusted EBITDA margin. About NerdWallet NerdWallet (Nasdaq: NRDS) is on a mission to provide clarity for all of life’s financial decisions. As a personal finance website and app, NerdWallet provides consumers with trustworthy and knowledgeable financial information so they can make smart money moves. From finding the best credit card to buying a house, NerdWallet is there to help consumers make financial decisions with confidence. Consumers have free access to our expert content and comparison shopping marketplaces, plus a data-driven app, which helps them stay on top of their finances and save time and money, giving them the freedom to do more. NerdWallet is available for consumers in the U.S., UK and Canada. About On the Barrelhead, Inc. Founded in 2017, On the Barrelhead is a data-driven platform that provides consumers and SMBs with credit-driven product recommendations to help improve their financial lives. On the Barrelhead’s platform is built on four sophisticated technology solutions: Plinko, Maestro, Recast and Squid, which combine to create an engine that leads to better outcomes for consumers, partners and their business.

Read More

FINANCE

Funding Circle, DreamSpring Partner to Increase Access to Capital for Small Business Owners in Underserved Communities

Funding Circle | July 06, 2022

Funding Circle, one of the nation’s leading online small business loans platforms, and DreamSpring, a nonprofit community development financial institution (CDFI) with nearly 30 years of experience in community lending, have launched a new partnership to increase access to funding for small business owners in underserved communities across the nation. The new partnership aligns with both organizations’ shared commitment to advancing entrepreneurship and innovation by providing equitable access to capital to small businesses. Through this lending-as-a-service program, DreamSpring will be able to expand its distribution and impact throughout the nation and originate more loans faster and at a lower cost, all while ensuring a seamless experience for customers. DreamSpring small business customers who apply through the co-branded application portal will receive one-on-one support from a dedicated Funding Circle Account Manager, an approval decision in a matter of hours and access to funds in as few as 48 hours. “We are excited to offer financial institutions our customizable end-to-end lending platform and technology that we have spent the last 12 years developing, said Angus Sanders, Chief Revenue Officer of Funding Circle US. We look forward to seeing the positive impact our partnership with DreamSpring has on communities across the country, especially those underserved.” “At DreamSpring, we lend at the intersection of mission, technology, and heart. Our relationship with Funding Circle will be transformational—empowering entrepreneurs to rapidly access funding necessary for job creation and small business growth, Together, we will provide the flexibility and resources small business owners need to navigate today's changing economic climate.” -Francisco Lopez, Chief Operations and Innovations Officer at DreamSpring. Funding Circle is committed to helping small businesses get the funding they need to thrive by working closely with financial institutions—including national, regional and community banks and community development financial institutions (CDFIs)—to achieve this mission, most recently launched a small business lending-as-a-service partnership with Pitney Bowes. A study published by the Philadelphia Federal Reserve this year found that Funding Circle has been able to expand credit access to underserved small business owners who are not likely to receive funding from traditional lenders, and has done so at a lower cost to borrowers. The study also noted Funding Circle’s partnerships with community institutions made it possible for those banks to reach new customers during the pandemic. About Funding Circle: Funding Circle (LSE: FCH) is a small and medium enterprise (“SME”) loans platform. Since launching in 2010, investors and lenders across Funding Circle's geographies - including banks, specialty finance companies, asset management companies, insurance companies, government-backed entities and funds - have provided approximately $18 billion to over c.120,000 businesses globally. About DreamSpring: DreamSpring is a nonprofit community lender dedicated to eliminating systemic wealth inequities and accelerating the economic inclusion and strength of underserved communities. Founded in 1994, the organization, which operates in 19 states, provides rapid access to capital and customized wrap-around support to the most vulnerable small business owners, focusing on communities including people of color, women, low- to moderate-income earners, people with disabilities, and start-ups. To date, DreamSpring has issued more than 42,000 loans totaling over $465 million to small businesses that support an estimated 72,000 jobs. Learn more at DreamSpring.org.

Read More

SMALL BUSINESS ADVICE

Santander Consumer USA Brings Cultivate Small Business Program to Dallas

Satander Consumer USA | June 03, 2022

Santander Consumer USA Holdings Inc. ("Santander Consumer" and "SC") recently announced that Dallas has been chosen as the site for the debut of Cultivate Small Business, a Santander U.S. hallmark initiative that helps food-service entrepreneurs in low-and-moderate-income neighborhoods. Impact Ventures, a nonprofit start-up accelerator based in Dallas, will be a corporate partner in the program with Santander Consumer. Impact Ventures will lead a grassroots effort to identify qualified small businesses to participate in the program and local food-industry experts to serve as mentors to program participants. Impact Ventures will lead a grassroots effort to identify qualified small businesses to participate in the program and local food-industry experts to serve as mentors to program participants. Impact Ventures manages an integrated capital fund focused on empowering talented women and communities of color. Cultivate Small Business, which was founded by Santander Bank N.A. in 2017, provides early-stage food-focused entrepreneurs with the key ingredients they need to succeed in business, such as industry-specific business management skills, technical assistance, capital grants, and access to a local network of established industry experts. Cultivate Small Business' 12-week immersive learning experience combines MBA-level education with mentorship and capital grants to empower entrepreneurs who are committed to working on their business while working in it. According to the United States Census Bureau, minorities owned about 18.7% (1.1 million) of employer firms in 2019, while women owned roughly 20.9% (1.2 million) of all businesses. Many food-industry entrepreneurs have been badly impacted by the COVID-19 pandemic, with numerous companies and restaurants closing their doors since the outbreak began. Entrepreneurs in the food business might benefit from Santander's Cultivate Small Business initiative. The majority of the more than 180 past Cultivate Small Business alumni say the program helped their firms grow: 84% of participants believe that participating in the program will help them achieve their business goals. 92% of participants were satisfied or very satisfied with the program overall. 92% of participants feel that they will be able to translate the learnings derived from the program to their businesses. 88% of participants would recommend the program to another entrepreneur. All but one of the 32 enterprises in Santander's Cultivate Small Business 2020 cohort received expedited capital grant funding from Santander Bank as soon as the shutdown was imposed, and all but one of them finished the year fully operational and in business.

Read More