Even Financial Adds Tally's Low-Interest Line of Credit to its Embedded Finance Marketplace

Rhea-AI Summary

Even Financial has partnered with Tally to integrate Tally's low-interest credit offerings into its embedded finance marketplace. This partnership aims to assist consumers in managing credit card debt, which currently totals nearly $1 trillion in the U.S. Eligible members can access Tally's line of credit, up to $25,000, via the Even platform. This addition enhances Even's expansive network of over 400 financial service partners, allowing for seamless financial product integration and management.

Positive

• Partnership with Tally enhances Even's product offerings to help customers manage credit card debt.
• Integration provides consumers access to Tally's line of credit up to $25,000, improving financial options.

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• None.

NEW YORK, March 15, 2022 /PRNewswire/ -- 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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SOURCE Even Financial, Inc.

FAQ

What is the new partnership announced by Even Financial on March 15, 2022?

Even Financial announced a partnership with Tally to include low-interest credit offerings in its embedded finance marketplace.

How does the Even and Tally partnership help consumers?

The partnership aims to help consumers manage credit card debt, providing access to Tally’s low-interest line of credit.

What is the maximum line of credit offered through Tally on the Even platform?

Consumers can access Tally's line of credit of up to $25,000 through the Even platform.

What financial issue is Tally addressing with its services?

Tally is designed to help members pay off credit card debt and save on interest and late fees.

How many financial service partners does Even Financial have?

Even Financial has over 400 financial services partners in its marketplace.