Prosper Marketplace has launched Prosper Daily, its first mobile app.
Prosper Daily allows users to see all of their accounts in one place, tracks budgeting and spending by category, identifies questionable charges and monitors the users credit score, which is updated monthly.
Fin-tech companies in every vertical are incorporating financial education and wellness tools into their service delivery. Good thing, as a recent Prosper Marketplace Financial Wellness survey showed only 38 percent of Americans have created a financial plan.
Prosper Daily is an evolution of BillGuard’s app, which has more than 1.6 million users and flagged more than $70 million in unauthorized charges. Prosper purchased the Israeli startup for $30 million last fall.
Shortly after the BillGuard purchase Prosper Chief Business Officer Itzik Cohen said the acquisition served several purposes
One is talent acquisition. The competition for top tech talent in Silicon Valley is intense, Mr. Cohen said. Israel’s tech sector is one of the world’s best.
“Israel has always been a startup nation – vibrant and active,” Mr. Cohen said. “Its talent is comparable to Silicon Valley’s.”
BillGuard’s service provides continuous value, which helps keep Prosper point of mind after they receive a loan and before they need the next one.
“Their great combination of controlling fraud and improving financial well-being fits well with Prosper’s mission,” Mr. Cohen added.
BillGuard users will continue on Prosper Daily.
“We’re just getting started with Prosper Daily,” Mr. Cohen said. “Our goal is to create a new type of personal finance app. We plan to use Prosper’s marketplace innovations in lending and investing to introduce new capabilities in the app that we think will be very meaningful to all of our users.”
Prosper Daily is available in the App and Google Play stores.