Marygold Named “Most Innovative” by Best In Biz Awards Program for Recently Introduced Mobile Fintech App
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Insights
The award received by Marygold & Co. for 'Most Innovative Company in 2023' from Best in Biz Awards can be seen as a validation of the company's strategic focus on innovation within the fintech sector. This recognition could potentially enhance the company's reputation among consumers and investors, which might lead to increased user adoption of their mobile fintech app and potentially attract investment. In a crowded market, differentiation through innovation is key and awards can sometimes serve as a proxy for consumer and investor confidence.
Given the app's features like contactless payments, budgeting tools and no-fee structure, it appeals to a growing demographic seeking digital financial solutions. This could translate into a competitive edge in the market, possibly leading to an increase in market share. The introduction of such innovative features can be expected to drive user engagement and retention, which are critical metrics for the success of any app-based service.
For stakeholders of The Marygold Companies, Inc., the subsidiary's award can be seen as a positive indicator of the subsidiary's potential to contribute to the overall financial health of the parent company. The app's unique selling propositions, such as unlimited money pool investing and the absence of banking fees, align with current consumer trends towards low-cost and comprehensive financial services. This could lead to revenue growth through increased transaction volumes and user base expansion.
However, it's important to monitor the cost structure associated with providing these services, as the absence of fees could impact the profitability if not offset by other revenue streams or scale. Future financial statements and user growth figures will be crucial in assessing the long-term financial impact of the app's introduction and the sustainability of its business model.
The fintech sector is highly competitive and continuous innovation is necessary to stay relevant. The app's development represents a significant investment in technology and innovation by Marygold & Co., which could set a precedent in the fintech industry. The secure, all-in-one banking experience caters to the increasing demand for digital financial services that offer convenience and security.
The app's budgeting tool and contactless payment options are in line with the industry's move towards personalized financial management and touch-free transactions, which have been accelerated by the COVID-19 pandemic. The success of such features will depend on their execution and the app's ability to integrate seamlessly into users' financial ecosystems. The long-term impact on the industry will hinge on consumer adoption rates and the response from competitors in terms of similar innovations.
Bronze Award Presented in Small Company Category for 2023 by Independent Business Awards Program
The annual awards program, now in its 14th year, showcases breadth and depth of innovation, novel approaches to utilizing new technologies, and high-impact environmental and corporate social responsibility programs, among other attributes. Marygold won the award based on the development and recent introduction of its mobile fintech app, a unique digital alternative to traditional banking.
“We were delighted to be considered for this prestigious awards program, and we are absolutely thrilled to have won this coveted award, coming from an independent organization,” said Nicholas Gerber, CEO of both Marygold & Co. and TMC. “The accolade further validates the uniqueness of our app, which provides unparallelled value to users, allowing them to take complete control of their financial lives and changing the game in mobile fintech banking.”
More than 600 total entries in the award program represented all industries and regions in the
“The award is a testament to the dedication and hard work of our global team of technologists and fintech specialists during the past four years as the app was being developed,” said Timothy Rooney, President of Marygold & Co. “It also substantiates the positive early response from consumers following formal introduction of the app in 2023.
“The fully secure app is a true digital alternative to traditional banking, and offers much more. Serving as a primary financial partner, the app is like having a fully secured, private banking experience on a mobile device, facilitating personal financial management, planning, budgeting and even investing, anywhere, anytime, with no banking fees, minimums or credit checks,” Rooney added.
Marygold’s app is available at no cost at both Apple and Google app stores for iOS and Android devices and also features a Mastercard debit card. The app allows for unlimited money pool investing; enables sending payments to anyone in the
About Best in Biz Awards
Since 2011, Best in Biz Awards is an independent business awards program judged by reporters and editors from top-tier publications, including the Wall Street Journal, Associated Press and many others. Winners have spanned the spectrum, from blue-chip companies that form the bedrock of the global economy to some of the world's most innovative start-ups. For more information, visit: http://www.bestinbizawards.com.
About Marygold & Co.
Marygold & Co., a wholly-owned subsidiary of The Marygold Companies, Inc. (NYSE American: MGLD), was established in the
About The Marygold Companies
The Marygold Companies, Inc., which changed its name from Concierge Technologies, Inc. in March 2022, was founded in 1996 and repositioned as a global holding firm in 2015. The Company currently has operating subsidiaries in financial services, food manufacturing, printing, security systems and beauty products, under the trade names USCF Investments, Marygold & Co., Tiger Financial & Asset Management Limited, Gourmet Foods, Printstock Products, Brigadier Security Systems and Original Sprout, respectively. Offices and manufacturing operations are in the
View source version on businesswire.com: https://www.businesswire.com/news/home/20240104019748/en/
Media and investors, for more information, contact:
Roger S. Pondel
PondelWilkinson Inc.
310-279-5965
rpondel@pondel.com
Contact Marygold & Co.:
Paula Pollock, Chief Marketing Officer
925-330-4127
ppollock@marygoldandco.com
Contact The Marygold Companies:
David Neibert, Chief Operations Officer
949-429-5370
dneibert@themarygoldcompanies.com
Source: The Marygold Companies, Inc.
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