Nov 11, 2020

Mogo members flock to carbon offset feature

Sustainability
Mogo
digital payments
Earnings
Rhys Thomas
2 min
Eco-conscious initiative helps swell membership above 1m, as Q3 report shows solid results
Eco-conscious initiative helps swell membership above 1m, as Q3 report shows solid results...

The launch of a carbon offsetting initiative helped swell net member growth on Mogo’s fintech platform by 89% in the most recent quarter.

Launched in July this year, users automatically contribute to carbon offsetting as they spend on their MogoCard - a branded Visa Platinum Prepaid Card. The offsetting itself is handled through a partnership with specialist firm Offsetters.  

The proposition has been an attractive USP in the Candian market, resulting in a boost to overall member growth - 16% year on year - pushing the platform above 1m users.

“The initial feedback on this experience has been excellent and it's something that until you experience it, you won't appreciate how impactful it can be,” said David Feller, Mogo’s founder and CEO, on Tuesday’s earnings call. 

The eco-conscious feature is one in a suite of app enhancements including the introduction of Bitcoin functionality, aimed at ‘gamifying’ banking and increasing customer engagement. 

“We have seen a big increase in bitcoin accounts, and our recently announced bitcoin rewards program should help to continue this growth as more and more Canadians look for exposure to this asset,” David Feller adds. 

Mogo’s Q3 results

Mogo revealed the highlight during a solid Q3 earnings report. Core revenue beat guidance to reach CAN$9.8m, with EBITDA of CAN$4.8m, a near 350% increase on the same period last year. 

Net income of CAN$1m was a significant improvement over the CAN$6m loss reported in Q3 2019. 

“Our third-quarter results continue to underscore the core profitability and cash generation capability of our financial model,” said Mogo president and CFO Greg Feller. "As we transition back to growth mode heading into 2021, we are financially well positioned and have a growing number of paths to monetising our more than one million members.”

Read the full report here

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Jun 11, 2021

The Ultimate FinTech & InsurTech LIVE Event

Fintech
Insurtech
live
event
3 min
Fintech and Insurtech magazines bring you the virtual conference that can’t be missed, streaming live from London

From October 12th-14th, 2021, BizClik’s FinTech & InsurTech live event will bring together influential executives from around the world. Live from London, this three-day event will be an excellent way to finish the year strong, gaining the confidence your company needs to move forward into the future. 

With keynote addresses from global leaders, dynamic roundtable discussions, and extensive networking opportunities, FinTech & InsurTech live will expand your network, deliver insight, and enhance your organisation’s reach. Events include a forum on financial services, discussions centred on racial equality and women in fintech, and APAC, EMEA, and US-focused sessions that capture insights from around the world.  

The event will include:

 

  • Keynote addresses from respected industry leaders
  • Dynamic live roundtables (inc. Q&A)
  • Fireside discussions
  • Inspirational Speakers & Presentations
  • Extensive networking opportunities

 

Scope Out the Agenda 

This week, we’ll share our weekend schedule of events, filled with essential industry topics and keynotes replete with knowledge and insight. Here’s a rundown of the three-day schedule

Tuesday

October 12th 

Kicking off at 10 AM with a welcome message from our CEO Glen White, the first day of FinTech and InsurTech Live won’t pull any punches. We discuss racial equality, inventive financial services, and cloud migration—and that’s just the morning lineup. 

Later on, we’ll cover supplier diversity, AI digital transformation, and fintech sustainability, in addition to cloud and digital transformation in global insurance. Don’t worry—we have a networking lunch in-between events! Finally, we’ll close out the day with online banking, women in fintech, and a recap of Day 1. 

Wednesday

October 13th

First we’ll hear from Scott Birch, our expert BizClik Media Editorial Director and facilitator, live from the Fintech Leaders Stage. We then jump into the future of digital payments, unicorns, and digital insurance brokers. Interested in learning more about digital underwriting and digital payment solutions? You’ve come to the right place. 

In the afternoon, we’ll touch on CX in insurance, host a forum on financial services, and discuss what the world might look like as a cashless society, plus the future of challenger and neo banks. Wrapping up, we’ll talk tech and AI in insurance, PayTech, and hear from a surprise inspirational speaker. But we’re not done yet. 

Thursday

October 14th

As is only fitting, BizClik’s CEO, Glen White, will introduce our APAC sessions, highlighting the critical role that Asia will play in the future of fintech and insurance. Following his remarks, we’ll open up the floor for a chat about digital banking, discuss technology in APAC, and hear from Dipu KV in an iconic keynote address. 

After a series of thought leaders and networking sessions, we’ll head into an EMEA-focused session, which includes an EMEA technology panel, a CDO keynote, and a Europe enterprise presentation. In fact, this day’s events span the globe. Next up is a USA regional keynote, followed by a US CIO presentation and talks about enterprise. 

A final end-of-event farewell will close out the weekend, wrapping up a successful FinTech and InsurTech global event. Can’t miss it. We look forward to seeing you there!

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