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MoneyLion Partners with Column Tax to Offer Customers Free Tax Services
Rhea-AI Impact
(Neutral)
Rhea-AI Sentiment
(Very Positive)
Tags
partnership
Rhea-AI Summary
MoneyLion Inc. (NYSE: ML) has announced a partnership with Column Tax to provide eligible users with free tax filing services through its app. This integration aims to simplify the tax process for users of RoarMoney℠ Banking, allowing them to file taxes directly within the app, often in under 15 minutes. Additionally, users can expect to receive their tax returns up to two days earlier than competing services. This collaboration aligns with MoneyLion's mission to democratize financial services and education while offering enhanced financial guidance through educational content.
Positive
Partnership with Column Tax provides free tax filing services, enhancing user experience.
Users can file taxes in less than 15 minutes directly within MoneyLion's app.
Early access to tax returns—up to two days sooner than other service providers.
Negative
None.
With this partnership, eligible MoneyLion users have access to a simplified tax filing process that saves them time and cost associated with similar services
NEW YORK--(BUSINESS WIRE)--
MoneyLion Inc. (“MoneyLion”) (NYSE: ML), the go-to destination for personalized financial content, financial products and advice, today announced it is offering eligible MoneyLion users free tax filing services through its new partnership with Column Tax, a personal income tax software company.
Through this partnership, MoneyLion offers a simple, accessible way for its RoarMoney℠ Banking (a FDIC-insured demand deposit account that delivers a full set of premium banking features) customers to file taxes at no cost to the customer. This integration means eligible users are able to file directly within MoneyLion’s app without having to rely on external services that are difficult to use and often have hidden fees. Users can file taxes seamlessly in minutes, with most applications taking less than 15 minutes to file. Additionally, users who file their taxes through MoneyLion will have access to their return up to two days earlier than if they had used another service provider.
“MoneyLion’s strategic partnership with Column Tax allows us to continue to democratize access to financial services and education to all Americans,” said Tim Hong, Chief Product Officer at MoneyLion. “Our missions are closely aligned, as they seek to educate and enable every American to have seamless access to their tax refunds so they can save, invest, pay off debt and meet their financial goals throughout the year. By offering our users high quality services and education, we aim to bring additional value to our offerings and help people take control of their finances.”
MoneyLion is pairing its new offering of tax filing services with a suite of relevant educational content to help its customers navigate the challenges of this tax season. Access to information, ease of use and transparency of cost are paramount considerations to both companies.
“We are excited to partner with MoneyLion who is a leader in the digital financial services industry,” said Gavin Nachbar, Co-founder and CEO of Column Tax. “By partnering with an app like MoneyLion that focuses on an individual's financial life and goals, Column Tax can easily ingest that data and give people a jump on their tax filing by providing accurate and efficient services. As MoneyLion provides financial guidance through easily digestible content, we look forward to taking the next step for customers organizing their financial future.”
Following the launch of MoneyLion University (“MLU”) in October 2022, MoneyLion’s partnership with Column Tax is the company’s most recent endeavor to improve the financial lives of its customers. MoneyLion aims to help people organize their financial futures by offering financial guidance through content, and providing easy access to tax filing is a logical next step towards this mission.
About MoneyLion MoneyLion is a one-stop destination for personalized financial content, financial products and advice. MoneyLion’s mission is to rewire the financial system to positively change the path of every hard-working American. MoneyLion uses its proprietary data advantage and technology to empower its customers. MoneyLion engages and educates its customers with daily, hyper-personalized money-related and money-adjacent content that is delivered through each customer’s own content feed. MoneyLion provides its customers a full suite of financial and non-financial solutions, bundling its proprietary, low-cost financial products – including everyday digital banking, cash advances, automated investing, credit building loans, budgeting, financial tracking and rewards – with products that are offered through its marketplace technology and network affiliate partners. MoneyLion also leverages its distinct data, technology, and network advantages to deliver leading embedded finance and marketplace solutions for enterprise customers. Since its founding in 2013, MoneyLion has empowered millions of Americans to take control of their finances and live their best financial life, every day.
About Column Tax
Column Tax is a personal income tax software company. The company’s APIs enable mobile banks and fintech companies to offer powerful tax products to their account holders and end users. Column Tax is backed by investors including Bain Capital Ventures, Felicis Ventures, South Park Commons, Core Innovation Capital, and Operator Partners.
