Gen Digital Inc. — Call Transcript 2025

All right. You're ready to start? Excellent. Well, already greeting all of you. I wanted to thank you for taking the time this morning and come and review our still hear the retail music. Yes. And I wanted to that sounds good. Yes. Let me go over the music. My voice is caring enough, right? So definitely happy to see you all in person. I've met many, many faces. Always happy to see you. Our last Investor Day was in 2023, so it's great to see you. Today is a briefing, slightly different. Actually, Saket was the first one to say, hey, can you explain to us a little bit more about your expanding strategy into financial wellness? What does that mean? And then he says, and to be honest with you, I don't know anything about MoneyLion. So if you can also show me what the product does, that would be fantastic. Saket, so we definitely heard you. And since then, a lot of our cyber safety investor have asked us the same thing. I'm also happy to see a few new faces. I'm hoping we're going to also attract investors that are interested into what's happening in the world of finance, technology finance and our financial products are being distributed now in this new era. Before we start, I decided to do the normal disclosure. As you know, I mentioned today is all about financial wellness and MoneyLion. What is MoneyLion about? This is not an Analyst Day. We're not going to make an update to our guidance. But as we talk, as we present, we may always have forward looking statements about our expectations, about our forecast, about our plans. And you're mature enough to know that things may change. Actual results might be different. And of course, we undertake no obligations to update our forward looking statements. So with that out of the way, let me start with a video that we started three years ago. There's a new generation out there, not Gen X, Y or Z, it's Gen D, generation digital, 5,000,000,000 people and counting who are all online. Today, digital life is life. People bank, shop, learn and connect from just about anywhere, use voice assistance in their homes and cars to navigate their lives going beyond digital safety. Rooted in our heritage of protecting the first digital generation, our family of brands is focused on powering digital freedom and possibilities for generations to come. We'll do more than just help over 500,000,000 people around the world protect their data, privacy and identities. We'll help them live safer, richer lives. It's time for the next gen of gens. Excellent. This video is from the close of the acquisition of Avast, and it's more relevant today than it was ever before. Our vision has always been very focused, not only on protecting consumers but also on empowering them to live safely and confidently in the digital world. And from there, we developed this two pronged strategy that we actually first shared at the Analyst Day in 2021. On the first side, it was really about transforming a point product security portfolio into a full cyber safety platform to protect as many people as possible in this digital world. And then from there, as we're gaining more and more trust from our customers, we wanted to add scale, trust and trust based solutions for them to do something and get results and value from the data and the services that we are protecting. And that's what we are here to talk about today. With the acquisition of MoneyLion, we have now fully begun this second chapter. Powering digital freedom has always been a very broad and very big concept. Some of you have called it the marketing tact. It's not. It's actually very concrete for us. It's about building products, innovative products that help people grow, manage and secure their digital and financial lives. Grow by giving them the tools, innovative tools to improve their well-being. Manage by helping them manage the complexity of that digital world, the complexity now of the financial ecosystem and helping them take control of that overall environment. And secure, secure by protecting identities, protecting their data, protecting their money from the daily risk of living in this digital world. So in other words, digital freedom has never been just about safety. It's about enabling confidence, enabling trust so that people can live, work and thrive online in the digital world without the fear and friction that comes with it. Today, you'll hear from several of our key leaders. Rick Correa has been with us now through the MoneyLion acquisition. He has a prior life in banking. And since 2016, he joined MoneyLion as CFO and CEO to really help Dee drive MoneyLion forward. He's managing MoneyLion business for us inside Gen, and we're super happy to have him, his leadership and his expertise on our leadership team. You will then hear from Tim Hong. Where is Tim? It's over there. So Tim is really leading our financial product, financial technology, white label that can be embedded into our different assets and maybe in other people's assets as well. He served as Moneyline's CPO. He has a passion for technology and consumer, especially in the financial management space. Then you'll hear from Travis. Many of you know Travis. Travis was the CEO of Avira for a few years when we acquired Avira. He became my business partner as Gen Chief Commercial Officer. He's been driving the growth over the last few years. And now he has raised his hands to build up our trust based solution, the segment that will encompass identity, reputation and financial wellness. And so with that, no further ado, Rick, I'll pass it to you. Hey, good morning, everyone. So not to be outdone by Vincent, I thought I'd bring my own video as well. Let's talk money then. Wait a minute. So how much should you actually be spending? Inflation hit a whopping 9.1%. It's not a one size fits all. That's the tough part about it. You need clean books, people. Whoever learns the most wins a cash prize. To learn everything school forgot to teach you. Class is now in session. Get that money. You have Moneyline installed on All right. MoneyLion has been on an incredible journey. And I'm proud to say that we have been pioneers, we've been innovators, we've helped transform the industry. It's been a series of firsts. We were the first to build the super app, the consumer finance super app, the most comprehensive content, product and marketplace solution ever built. We were the first to bring content through a streaming feed into a consumer app. While many were talking about financial literacy, we were putting our capital to work to be able to there's more capital at work right there. We were putting it to work to be able to help people access our one hundred thousand hours of financial content that we have, plus we have over 25,000 articles in our library. We've launched content creators and we've created user generated content. We were the number one downloaded finance app in the App Store, and we are the number one fintech in TikTok. We were also the first to bring financial marketplace technology inside of a consumer app to the masses, underscoring our consumer centric intent. We're the first to bundle all of our products into a transparent membership pricing structure. We are the first digital finance ecosystem. What that means is we bring leading technologies like our SDKs, our APIs, check out our next best offers and all of our content the entire financial industry. And the results, they're remarkable. Moneyline is the most unique and comprehensive financial services firm in the industry, and the closest competitor isn't even close. MoneyLion operates one of the industry's largest marketplaces, which means that we drive $350,000,000 total increase from the top of our funnel. That's been driving our 24,000,000 total customers, and 8,000,000 of them are active. In addition to that, we have tens of millions of users that we're then life cycle into becoming those active customers. We have over 40,000,000 products that have been consumed on our platform, 12,000,000 in the last twelve months alone. What you'll see is we have nearly two products per user. Our revenue is about run rate revenue, $750,000,000, and we have an 80% recurring revenue profile. And importantly, we've been consistently growing at over 30%. Yes, our customers love us. So with all this success, why did MoneyLion decide to join Gen Digital, one of the leading cyber safety and identity protection firms? Well, to answer that, we have to go back to MoneyLion's vision. Our vision is to be the number one destination to help consumers make their best financial decisions. To realize this vision, yes, as you can see, product is important, think of platform is important, having content, AI driven advice is important, but so is scale and so is trust. And with Gen's 500,000,000 users globally and having the leading trust based solutions, Gen accelerates our ability to realize this vision. Today, customers are seeing this proliferation of financial products and offers and tools. But with all the threats that are facing customers, the real barrier for them moving online, taking their lives and moving into the digital world is trust. And so what they're looking for is a financial wellness platform where they feel secure as they're thinking about financial decisions, making those financial decisions and then transacting. So the next generation of finance, it's secure financial wellness. With a combination of Gen and MoneyLion, the industry's only secure financial wellness platform emerges, where we deliver the most comprehensive financial services with AI driven advice, with unbiased content, with best in class products and importantly, all underpinned with trust. But let's double click on what trust means for the MoneyLion customer. MoneyLion is integrating the leading identity solutions and asset protection solutions that are available today. We're integrating into our platform, taking what was already the most full featured platform and then adding this layer of trust. So while managing and growing their finances in the digital world, MoneyLion customers are going to be able to mitigate the risks of financial frauds and scams. And if they run into a breach, they're going to have someone that can help them fix the problem. We're even going to have restoration services and insurance coverage for losses. Now in addition to empowering people to take full advantage of the emerging digital transformation that's happening, trust is great business. Trust helps people trust helps us increase our conversions. It helps us increase ARPU. It helps us increase our products per user. It lowers CAC. And really importantly, it extends out and increases the lifetime value of a customer. So let's take a look at the state of consumer finance today. The dilemma that the consumers are facing is it's a combination of chaos and curiosity. And so as I mentioned, customers are facing an ever more confusing and complex environment where they have to research what they want to do independently. And then when they figure out what they want to do, they have to go and transact on a disconnected array of financial products. Okay. That's just a fancy way of saying there's way too much stuff. And so customers are juggling credit cards, they're juggling auto loans, retirement accounts, 401s, their savings accounts and a dozen apps. And they're asking like, what does my portfolio of products look like? What's kind of personalized in terms of basket of financial products that I should have? And then of course, once you've kind of figured that out, life throws you a curveball, some good and some not. You might get a job change, you might need a car repair, you might have a tax refund, you might have to help a family member. And so these shocks are becoming more and more constant for people. And they're wondering, where can I turn to get that trust and guidance? And in the rapidly evolving digital world, more and more threats are emerging. And they're accelerating at the pace of technology from investment scams to phishing to social media scams and they're turning to different providers to say, who can I trust? And that for us is the opportunity. The more complex and the more confusing the environment gets, the greater the need for exactly what MoneyLion can deliver, which is a path towards a safer and trusted digital life. In summary, people are looking for authentic and personalized holistic advice versus point solutions and transactional solutions that are out there in the marketplace. And you need AI to solve this multivariable problem where we have been a pioneer. They're looking for optionality. They want to help something to help them manage life's small and large income and expense shocks and to help them with the number one anxiety that faces people today, which is how do I deal with an expense shock and an unexpected bill. And they're looking for protection, protection to reduce the current and emerging threats that are stopping people from moving their financial life into the digital world. So if these are the customers, what do our customers look like? The problems are vast and the use cases are infinite, which means we serve the 99% of customers that are looking for personalized answers to burning questions like, I just got a tax refund, 5,000. How should I think about investing that for the short and long term? I just graduated. I'm looking for to build my credit. Should I do it with a credit card? Should I have a credit card at all? I just got expense shocked with a $3,500 truck repair bill, and it couldn't have come at a worse time. They're asking questions like, what do I do when my financial account gets taken over? These are the customer problems that MoneyLion has been addressing for over a decade. And now with Jen, we get to accelerate our trajectory into being the de facto leader in consumer finance. Let's take a deeper look at our unrivaled secure financial wellness platform from a customer's perspective. First, we put a customer needs at the heart of our solution. We then take the data advantage that we have to be able to give a customer First, across MoneyLion's first party products. We help them being onboard into our PFM with budgeting, banking, investing, cash management and more. And then we take a customer's personalized position in life to help them choose products from our marketplace. So we authentically help them choose personal loans, insurance, mortgages, HELOCs and of course more. Having our core first party products sit alongside our marketplace means that our customers get the best in class first party products and third party products. It's very similar to the way in which an Amazon Basics sits within the Amazon marketplace, the same way the Kirkland brands sit within the Costco marketplace. And what makes this even more unique is that this is now all underpinned with the foundation of trust. And so we can now help our customers manage and grow their finances online. With over 500,000,000 users globally and the leading trust solutions, joining Gen is a game changer for MoneyLion. Now you know what MoneyLion loves about Gen. What does Gen love about MoneyLion? Well, one, the breadth and depth of our team and our leading technology solution. Let's dig in. One question we get all the time is you talk about having so many products and features and offers and content. Is it all real? Well, I'll do an overview, and then I'll hand it over to our Head of Financial Wellness Technology, Tim Hong, who will do a deeper dive. And at the end, you will see it's more than real. It's unbelievable. What we do is we think about our platform in three buckets. The first is our PFM, the second is our proprietary products and then, of course, the marketplace. So let's start with the PFM. In order to create a highly engaging customer experience, we've created a combination of content, community and insights in the PFM. Our content feed is the equivalent of a TikTok or an Instagram feed, where we're serving up personalized budget ideas, different content, AI driven insights, our products and our offers, things across our entire platform. We also have AI search. So it's a single context window into the entire platform. And what it does is it gives personalized offers and insights to an individual based on data that is not typically available in generic LLMs. We also have community services. We have our user generated content, news and commenting so that our users get to share their stories, success stories, challenges and hacks to help the entire community. And of course, leveraging our vast data sets, we have our AI driven personalized insights, giving product recommendations. These content community and insights, think about them as the connective tissue. That's what we use to move our customers from that engaging experience into the core product and marketplace offers. So looking at our product suite, you can see that we cover the full spectrum of banking, cash management, borrowing, saving and investing. Tim is going to do a deep dive, as I said, on our product platform. But as a teaser, our product platform gives us the ability to meet the needs of the mass market. We can point our technology at any demographic by engaging creating engaging features with specific products and, of course, our marketplace. So now you can see why we are the most comprehensive and full featured product platform in the industry, and I've only scratched the surface on talking about our embedded finance technology. When we say we want to be the number one destination to help customers make their best financial decisions, that means we have to engage and be where the customers are thinking about those types of decisions. And we do that with our marketplace. The same technology that powers the MoneyLion branded consumer app and marketplace powers the embedded marketplace for our partners. All of our technology, R and D and research and AI investments, we combine all of those to help our B2B partners. We have two clear sides of the marketplace. On the left, we have our channel partners. So these partners, we have over six fifty of them, and they are driving three fifty million high intent customer inquiries a year. On the right, we have our financial product sellers, again, over 600 product sellers. These are our product partners covering over 30 different verticals. And importantly, they're looking to acquire customers from a channel that's unique and unavailable outside of our marketplace. And then in the middle is our leading marketplace. We branded it NGEN. On the surface, it's a matching algorithm, but its real value is the technology that underpins it. I'll give you a couple of examples. Again, Tim, as you can hear, is the pro. He will go deeper on this. But we have things like Martech technology. And so we're able to have yield optimization and analytics that give real time feedback to our partners. We do that through an enterprise client portal that we call ControlCenter. We have programmatic compliance. You can imagine that for all of our partners, the complexity of the regulatory environment that they operate in, it's paramount for us to have all of that compliance technology ready built within the platform. To give you an example, when Capital One wants to persist a dynamic pricing model across the Internet to take advantage of the one to many benefits of a marketplace, our engine solution is the clear winner within the industry. Another feature that we have is that we bring market leading technologies like checkout. So when we think about the current state of consumer finance, it's a little bit like a flea market. You get routed everywhere every time you're looking for a financial product. What Checkout does is it allows us to improve the consumer experience by allowing them, once they've selected the product that they need, to be able to check out within the MoneyLion app. And that reduces the handoffs and the feeling of the flea market. Now what's increasingly powerful about the marketplace is that the more buyers we get, the more sellers that we get and vice versa. It's a simple construct. But as we all know, in finance, liquidity begets liquidity. So what do our partners look like? Our marketplace, it's a mass market platform. And the logos you see here, it's just an example of some of the supply and demand partners that we have. But importantly, they cover the full spectrum of demographics, including income, age, family, homeowners versus renters, geographies and importantly, intent. On the left hand side, you'll see that we partner with mass media sites, with financial publishers and financial services providers. On the right, you'll see we cover all the verticals from personal loans through to credit cards, insurance and financial wellness. What's really important is to connect the dots and see that this is an important synergy between MoneyLion and Gen. With Gen's 500,000,000 users globally, the user base that we now have can increase the top of funnel all the way through to the broader demographics that we are looking to start penetrating. We're going to continue expanding our catalogs, as we'll touch upon in a minute. What's important is that this platform, when we start to dig into our funnel, has tremendous conversion, revenue and profit opportunities. Let's take a look at the funnel. So we've really transformed the form factor of how consumers interact with their financial lives. We've done that by bringing content and media that resonates on more traditional social media and marketplace platforms, and we've brought all that into financial services. And the result is this next generation ecosystem. And this is where we are able to drive those three fifty million top of funnel inquiries annually with a very low CAC. This creates a structural cost advantage relative to those partners who are solely relying on traditional paid digital media channels. This is, of course, supported by our strategic brand sponsorships, financial content creators and, of course, our organic traffic. As we shared last quarter, we have over 24,000,000 total Moneyline customers and about a third of them are active at any moment in time. And as I mentioned, we then have tens of millions of users that we're able to life cycle to becoming active users. And they consume over 12,000,000 products on the platform over the last twelve months. You can imagine, of course, that this opportunity is massive in front of us from a top of funnel perspective as we think about the hundreds of millions of users that Jenn brings into the equation as we continue to do product enhancements, optimizations to continue to drive our revenue and profitability expansion. So we've talked a lot about our unique business model. We've talked about how we convert our customers. Let's dig into the economics. And I'm going to start by saying I absolutely love this slide. And I love it because it gives you an economic lens into our powerful flywheel. Each number represents a distinct acquisition channel and the corresponding contribution margin. This framework drives our revenue and our profitability scale. So let's start with the 30% affiliate channel, the top. Recall the two sided marketplace that I had up with all the logos? When CNBC has a customer that comes into the platform and they get matched with a SoFi product or a Capital One product, those product partners, Capital One and SoFi, pay us on average. We will retain about 30% of the fee that they will pay us, and then we will give the rest to our channel partner based on a revenue share agreement that we have with them, and hence, the 30% contribution margin. So those are decent economics, but that's just the tip of the spear. Let's take a look at the 60% margin channel. So when a customer comes in and they take Moneyline's first party products, so our bank offering, our cash management offerings, investing, etcetera, we have over a 60% contribution margin. And so that's why it's really strategically important for Moneyline to continue to build best in class products as we continue to bring customers into those first party products. What's also very important is when a MoneyLion customer, meaning someone who is in MoneyLion's first party products, then transacts into the marketplace, we earn a 90% contribution margin because there is no revenue share. MoneyLion is supplying the customer. Importantly, the three fifty million inquiries that I keep talking about, that creates a significant pool of marketplace users for us to be able to retarget, also generating a 90% contribution margin. Now that bottom right bucket, it's the fastest growing part of our business today. Therefore, our direct to consumer brand investments, combined with life cycling customers within our overall consumer marketplace, is a strategically important initiative for us because it allows us to increase revenue, take market share. And as you can see on the right, this allows us to be able to expand our overall margin profile. And we've seen this business equation playing out successfully and quantitatively every single quarter for the last several years. So we've been talking about our powerful business model. We've been talking about our customers and how we serve them and even the economics. But are our customers sticky? What this chart will show you is the answer to that is a resounding yes. Our customers get leading first party products, and then we help them choose their marketplace products. Or they start with a marketplace offer and then we cross sell them into our first party products. Either way, we are driving and expanding our lifetime value. So what this chart shows you is that we generate an overwhelming amount of our revenue from repeat customers. In fact, over 80% of our revenue comes from our historical cohorts. Another critical reason for us to continue investing in best in class first party products, increasing our top of funnel and increasing our products per partner, which is all accelerated with Gen. So I've been waxing on for a little bit now. But what's crazy is, after everything we've said, we're just getting started. We have many growth vectors that allows Moneyline to continue driving growth over the long term. Initiatives like expansion into new market verticals, deepening those verticals, pointing the entire machinery at new demographics, all while amplifying the business using AI where we have been pioneers for ten years. We are building a long term durable engine for high quality growth. That makes this a pivotal moment, not just for MoneyLion, but for consumer finance because Jen is raising the bar. With the emergence of secure financial wellness, we're not only deepening trust and broadening our reach, we're actually, as a combined firm, unlocking new ways to serve, engage and empower our customers. I'm going to pause there, and I'm going to hand it over to Tim Hong, who is our Head of Financial Wellness Technology, and he's been one of my partners for over ten years. Thank you. Hi, everyone. I'm excited to be here today to talk about our financial wellness technology platform, which, of course, powers MoneyLion's app and business that you just saw from Rick, but also for those hundreds of partners, but also now Gen. So our technology has been a ten plus year investment built on a modern scalable stack. For us, data and personalization are at its core. This first party data includes credit data, such as credit scores and credit reports financial data, like bank transaction data, but also things like behaviors. This data enables advice, transactions and that two sided marketplace that Rick went over. For us, this is the foundation for building personalized experiences that are valuable to the consumer. And this foundation is proven and really built for the AI age. Every year, our models output billions of predictions. These are things like data enrichments, rankings, recommendations, all to create the kind of user experiences that consumers expect in this day and age. And now, of course, we're unlocking new capabilities with generative AI. And so as Rick mentioned, scale matters in financial services. Our unique business model that not only operates owned and operated brands but also enables and empowers partners to reach their consumers really gives us a differentiated distribution and data advantage. And so everything you'll see here today is a MoneyLion example. We wanted, of course, to show you some of the app and the experiences there. But I want you to keep in mind that everything here is a platform. It's something that can be embedded exactly where the consumer makes those decisions. And in that sense, our technology is built for any segment, whether it's a mass affluent segment, the underbanked or even in particular channels like employee benefits. And so it's really built to succeed with any segment, including that 500,000,000 gen users. So let's start with financial products. We'll give you a peek into how we've built and designed these powerful capabilities. So our highly differentiated financial products are built on advanced payment and money movement capabilities. So this is throughout the entire customer journey that has benefits for both the consumer as well as our capabilities. What this means, though, is that we have products for in times of excess and in times of need. Every customer journey is unique and oftentimes challenging. Even in times of excess, it can be difficult to figure out where to say what to do with this money you've saved. In times of excess excuse me, in times of need, it's particularly challenging and stressful. And so our products around credit building and cash management help those customers as well. So let's start with our depository products. So first up is the Moneyline debit card and checking account. It's a full featured FDIC insured bank account with more ATMs than Chase, Wells Fargo and Bank of America combined, has no monthly fees and a cash back program our customers love. With it, customers can receive their paychecks up to two days early, so I get paid on a Wednesday and a Friday instead of a Friday, that's nice, as well as being able to use that card wherever Mastercard is accepted and more. This puts us at the center of our customers' financial lives. In a lot of ways, the paycheck is the heartbeat of financial lives, and our checking account enables our customers to manage their bills, transfer money, earn rewards and more. We also offer managed investment accounts. These are capabilities to build wealth and save for the future. Here, Moneyline serves as the registered investment adviser, recommending customized portfolios based on the consumer's risk profile and preferences. So here, I'm showing you our managed investment account where consumers can view their balances, add and withdraw money, take a look at their portfolio that we've customized for them across those diverse low cost ETFs. Of course, someone can set up roundups where with just a few taps, I can choose that with every purchase, I can round up that transaction and make a micro investment in our managed investment account. So these kind of capabilities where someone can very quickly and easily set up recurring automated deposits really empower the consumer to get started. So just like that, someone started rounding up their transactions into their investment account. So just think about it. Over 60% of Americans don't invest beyond their retirement accounts. Moneyline is democratizing access to these kind of tools. We also offer active investing, where customers can trade individual stocks and ETFs with the same ease of use, automated tools like roundups as well as the tight integration with the rest of our portfolio. Here, in our active investment account, customers, again, can see their balance, their holdings, but also participate in a vibrant community where they're quizzed and can learn more about what's happening in the markets today. And in just a few seconds, take a look at an individual stock like Tesla, see how it's performed over the last year and then other mechanisms to engage, such as, let's say, if I invested a week ago, how might have my investment have done or even a year ago? And of course, because it's integrated into our payment and money movement capabilities, in just a few taps, I can select to buy a fractional share of $502,500 or more and with one swipe, be able to become an owner for the first time. So these kind of capabilities are incredibly powerful for those who are just entering the investment landscape, but also, frankly, for many, many others that are looking to up their game in terms of their investment capabilities. All of these depository products, banking, managed investing, active investing, are holistically presented and customers are given advice about those products in real time. So let's talk about our products for in times of need. These are cash management solutions as well as credit products. So first up is InstaCash. This is our industry leading earned wage access product. So I want you to imagine if you were just hit by an unexpected bill on a Tuesday, but you don't have enough funds and you're not paid until Friday. What do you do? Unfortunately, for over 50% of Americans, this is a situation that's filled with stress and oftentimes hefty fees. With Instacash, it's problem solved. So in just a few seconds, a customer can request their Instacash balance, whether it's $100 $200 $300 or more, and they can receive funds next business day with no fees or instantly with a small expedited fee. And just like that, those funds have been deposited into the account of their choosing, but especially our checking accounts. And so just like that, the customer can then pay for that product, repay us, excuse me, at their next paycheck. And Instacash is a 0% APR product, so there's no additional fees. So this is a simple product for our users, giving them access to those kind of problem solving tools to be able to manage their cash more effectively. But it incorporates over ten plus years of AI machine learning models as well as payment intelligence that we've baked into our ecosystem. So this includes algorithms to instantly qualify customers for Instacash. It includes algorithms to predict and identify paychecks. We ensure that we don't overextend users, and we also reward users with high good users with higher limits. Our payments intelligence also correctly and intelligently routes payments across ACH, debit card, RTP and internal rails to ensure that payments get sent to the user quickly, cost effectively and reliably. So the result is transformative. An overwhelming number of users indicate that they're better able to take care of their family and themselves with Instacash. This puts them in control for the first time. It also helps them avoid costly $35 overdraft fees charged by the big banks, late fees on bills as well as more expensive forms of credit. So all of these come together to create an NPS score, a leading NPS score of 64. The other often common problem that we're solving for our customers is credit building. Now if you have a whether you have a credit score in the 500s, 600s, 700s or more, good credit scores unlock the American dream. They enable you to achieve financial goals like buying a house, a car and making sure that you don't pay too much in interest. And so Moneyline provides step by step programs to build credit. This includes access to secured credit builder loans. These are reported to all three bureaus. And for probably the only place in the industry, being able to earn rewards for financial wellness. So just imagine, have you ever been rewarded for financial wellness? Certainly not by your banks. As Rick mentioned, we have a holistic library of financial wellness content, and we deliver that to our customers here to enable them to take those steps on their journey to better credit. The result is this holistic approach that includes financial products, insights, content and more is that our customers raise their credit score by 25 points or more within sixty days. So altogether, our financial products unlock incredible engagement and achievement of financial goals across the entire life cycle of the customer. Rick mentioned how we retain our customers, and that's because we have this holistic portfolio that spans every need within the consumer's mindset. This comprehensive approach is also something we're thinking about how can we bring to gen brands like LifeLock, Norton and Avast. All right. So let's talk about our second pillar, embedded marketplaces. As we mentioned, this allows customers to take action on their needs, especially when we may not offer financial products in that area. These are fundamentally data enabled experiences. What do we mean by that? So financial products are extraordinarily unique in e commerce in that the consumer picks the product, but the product has to pick the consumer as well through underwriting or other rules. So what that means is that too often, this feels like the flea market that Rick mentioned or the DMV where you're being passed from desk to desk. So just try shopping for a mortgage online as an example. As soon as you submit your application, you'll receive dozens of phone calls and brokers contacting you. It's not the digital first personalized experience built for convenience and control. And so we operate in 30 plus verticals, including credit cards, personal loans and high yield savings. Those are incredibly powerful for our consumers to meet any financial goal. So within the Moneyline app, this is one example around our savings calculator, where our marketplaces and our intelligence are seamlessly integrated with the app experience. So someone can take a look at their savings calculator, an interactive way to see how much they would have earned. And of course, when someone clicks to go in, these are connected to our marketplaces, where there's real time APY rates provided directly by the financial product providers. And so these financial product providers compete for our consumers' business. This also extends to personal loans, where our rich data sets allow us to do even more powerful matching. So someone can select how much what kind of loan they would like, answer a few questions that help us match their needs more effectively with the financial product. And because we already have that user's personal information, we're able to securely opt them in to seeing their personalized offers. So just like that, a customer is able to compare loans from different companies, and these are preapproved offers that they can then choose and check out with. These use the same APIs that we offer our partners. So just like Amazon uses the APIs of AWS, hundreds of our partners use our APIs, embeds and SDKs to be able to deliver the experience they want to the market segment that they're targeting. And so they also use our matching and monetization engines. These are critical aspects for how we can use our scale to create differentiation. So brands like SoFi, Experian, Chime, CNBC and more all utilize our technology to be able to match with their customers. So one example, for instance, in this long tail of partners is a home improvement contractor marketplace. This is a marketplace where consumers can put in their home improvement project and see which contractors and get bids from those contractors. Now that contractor marketplace has also integrated our personal loans marketplace so we can meet the customer at time of need, at time of intent and at time of decision with the products they need. So this is an example of the kind of integration where we're meeting the customer where they're making that decision. It's an incredibly powerful business model because, again, we're driving that three fifty million inquiries every year through our marketplace using this technique. And so that scale really gives us the differentiation. The scale of our data improves our monetization engines. That improvement drives more partners to our marketplace, and we get more scale and the flywheel of scale keeps going on. Already, hundreds of partners in the last few years have joined our platform so that they can achieve their business goals as well. And now I'm incredibly excited, too, about being able to power AI experiences. Now typically, an LLM is effectively scraping the Internet for products, offers and the specifics. But with our APIs, of course, they can get directly connected to those APRs, those APIs, those financial products and be able to provide action for those customers those consumers as well. I'll have a little bit more on this later in the slides. And so one of the reasons why our partners choose us is because we have the most delightful marketplace user experience in the industry. So just imagine if you're in the market for a flight, let's say, to Hawaii, and you went to expedia.com, search for your flight. When you chose the flight, instead of having a seamless checkout experience, you instead went to delta.com. You can imagine what would happen to conversion rates, consumer NPS, things like that. Unfortunately, a lot of financial marketplaces work in just that fashion. So we've built a fully integrated checkout experience, integrating all of the steps of the financial product journey from search to application to decisioning and then finally taking out the product. So this is a single unified experience. It lets us improve conversion rates but also guide the user throughout their journey. So checkout is the front end. The magic really is in the back end, how we support this with our infrastructure. And we do so with Spark, our proprietary hosted underwriting platform. This is connected with our massive volume, and it provides unparalleled matching capabilities as it's connected with the most advanced data sets. So dozens of lenders and issuers have already uploaded their underwriting models to our marketplace. So when a customer applies for a product on our platform, we augment and enrich that data with first and third party data sources, we apply it to those underwriting models, and we're able to deliver instant decisions around qualification directly to the consumer. For the consumer, this is an incredibly privacy centric approach. Their information stays on our infrastructure and isn't sent out all over the Internet. It also gives them more confidence that they're going to be approved for the products they want and less of that feeling that the DMV going from desk to desk. For partners, it means that their conversion rates are higher, their data costs are lower, and they can target their exact right customer, all with the bank level compliance that their teams require. So already, these technologies are already in market and delivering results. So here's just one example, working with a top credit card issuers where a customer has received an offer, in this case, a prequalified offer for a credit card. And when they choose that offer, instead of going out to a separate website within our properties, they can select the card, add an authorized user, add other options, their PII is securely transmitted. And just like that, they're approved for that credit card. And through a technology called push provisioning, they can actually instantly put that card into their digital wallet, starting their journey, being able to use that card instantly as well. So if you compare this to the status quo today, you go from website to website, You have to do all of your own research. You have to convert on a different platform. And that breakage over and over and over again is not the kind of user experience that consumers expect. For us, our marketplaces match supply and demand with data, AI and these amazing user experiences. So I'll finish up with advice and AI, arguably the most important pillar of our financial wellness technologies. As you'll hear soon from Travis, Gen's trust based solutions, including financial wellness, are all about providing personalized results, personalized advice and solutions to consumers built on the data that's been entrusted to us. And so customers look to us to both protect and monitor, but now actually manage and grow their data. This is driving engagement, insights and matching, again, with this user permissioned approach. We include verified identity data. We have credit data like credit score, trade lines, repayment history. As I mentioned, bank data is incredibly rich. Financial transaction data, as we like to say, we know how many tacos are eaten in Texas. And so that kind of data, combined with behavioral data such as financial goals, the kinds of topics users are interested in because of their engagement and content. And then finally, of course, their financial shopping behavior on our marketplaces gives us this incredibly rich data set to be able to drive relevancy and engagement to become a daily destination. One way we do this is through our feed and content technologies. I think you got a little bit of a peek of that in Rick's video, this incredibly rich and proprietary set of content that's been verified. And so unfortunately, for better or for worse, over the last ten years, consumers have looked to alternative sources for their financial advice. It's no longer a financial adviser. It's no longer friends and family. It's social media. It's the kinds of content that are snackable, engaging, entertaining. But here, with Jen, they're also verified. Here, I'm showing you our feed. Every feed is different because every user is different. Not only that, every day is different for a user. So here, someone can see insights about their top data points, get a recommended offer, as I showed before, be able to take a look and learn more about markets or individual stocks but also take a look at verified content. This is Brandon Copeland, who also teaches a course at UPenn, talking about how to build credit. You learn about the how to buy a house, but also things like quizzes that help engage and test our audience. Here, this is from the sources like Norton. So all of this content is engaging users every day to create this daily destination where someone is learning and getting inspired every single time they come to the feed. That then enables us to connect them the financial products that meet their goals. We're even gamifying the experience, encouraging daily visits to make sure that someone can keep their streaks up and be able to come back over and over. So all of these are tailored to your goals and financial profile. And what we've seen is an incredible response. Over 2,000,000,000 pieces of financial wellness content have been consumed by our users on our platform. So clearly, the demand for this kind of approach is there. And so lastly, let me just talk a little bit about AI, of course. As Rick mentioned, we've been in AI for over ten plus years. AI is embedded throughout our stack to be able to deliver these experiences to the consumer. And so we have dozens of proprietary models, TxCAC, LASIK, Astra and more, that are really engaging folks at every stage and making those kind of predictions. So we're using algorithms to figure out what's the difference between a paycheck and just a normal deposit. We're using algorithms and models to determine risk underwriting. We're using them to predict the next best offer. We're even using them to dictate how marketplace offers are shown so that the most relevant ones are shown first. And as I mentioned, over billions of model outputs that are validated and being done every year to enrich this customer experience and achieve those outcomes. Of course, we're extending those capabilities to generative AI so that we can lead in secure financial wellness. This privacy centric and secure infrastructure approach is really about bringing approachable, personalized insights to the consumer so that our consumer can understand their financial and credit data even better. So someone can ask, how much did I spend on groceries last month? And because they already have a connected bank account with transactions, we're able to determine very easily and simply what they're intending and what kind of answer we can provide. Someone can ask, how do I reduce my credit card debt? And because we have information about their credit profile and their debt, again, able to deliver those answers easily and simply to that consumer. We're also including our verified financial content and tips within this and then also connecting it to our financial product marketplace so they can take action. So customers can ask how do I improve credit and hundreds, if not thousands, of other questions that come up every single day in this very dynamic set of lives that our consumers lead. As mentioned, this really enables our consumers to talk to their money. For the first time, with generative AI, folks can have a financial adviser in their pocket. And as mentioned, Gen users already look to us every day to track and monitor their data. And now this expands the tools at their disposal to be able to engage. Behind the scenes, of course, the techniques are incredibly powerful. We use agentic architectures to enable our systems to dynamically reason through a query and provide seamless answers. We use techniques like task planning to coordinate tools. One tool might look up a credit score, another tool might look up verified financial content and another might even answer a customer service question. And so whether you're looking up a credit score or otherwise, we're also seamlessly integrating these answers into a response and then adding verified citations so customers know where it's coming from. So all of this is done in seconds, if not milliseconds. So Jen brings together and I'll end on this slide. Jen brings together all of the components of secure financial wellness in this new age. It includes first party data that helps us understand and personalize the experience for the customer marketplace APIs that enable customers to take action payment APIs that help consumers reach their financial goals and of course, that verified financial content that Moneyline has a deep history in so that we have trusted forms of advice. All of these are enabling customers for the first time to create a new category we call financial wellness. Trust is the key to this. We have decades of equity in earning that trust. And so that's the Gen Financial Wellness tech platform, content that inspires, insights that are personalized, choice and access through financial marketplaces and empowerment through financial products. As I mentioned at the top, all of these examples are MoneyLion examples. But fundamentally, this is a platform built for scale, already in use by hundreds of partners, now unlocking even more with Gen and its 500,000,000 users. So with that, I'll pass it to Travis to talk about financial wellness and trust at Gen more broadly. Thank you and hello. I always get so excited when I hear Tim and Rick talk about the business. It's a fantastic business. But I would like to help you maybe a little bit understand it from the Gen Cyber Safety side, how why the connection is there, how the customers will benefit from this increase in value that we can offer them. And so when we were doing our research and realized that MoneyLion was a way to accelerate, we were talking to lots of customers. We were interviewing and discussing what do we mean to them, what do they use us for, how do they use us and what are their journeys. And I'm going to give you one example. Her name is Lisa, just exemplary for one of our Norton members. She's been using our products to help her feel confident online, right, protecting her devices, the files, her data, making sure her digital exhaust is less exposed. And she's in a position to think about what she can do on the Internet and look, and she wants a car. And because she's a LifeLock customer, features that we add in the Norton membership, we have access to her credit score. We look at her financial transactions. Today, we monitor them to make sure that they're accurate, and we let her know if anomalies in her financial accounts have occurred or something that an unintended expense hit her account that she can fix. But looking at her credit score and she's off to the car journey, first she does is unlock her credit file because she knows she needs to lease or finance a car. So in order to be able to be approved, she unlocks her credit file through our application. Goes to the car dealership, talks about the car she wants, negotiates a price, the dealership offers her financial terms, she takes those terms and walks away. And this is an area where we could have helped her even more. What we didn't do was explain to her what the advantage of leasing versus taking a loan. What is the advantage of having a plethora of choices that are out there in the Internet to select from to give her better interest rates, better terms and conditions. And I'll talk a little bit more about some of these examples, but we could have done a lot more. Actually, it is part of our promise. We want to empower her to be the best she can, as Vincent pointed out in his presentation at the beginning. It's our obligation to do more since she's already interacting with us along that journey and along that decision path. But I'll explain it a bit more in detail. So within trust based solutions, we deal with who she is, the reputation she has and the empowering of her to make better decisions in her life. And right now, we speak about financial lives. Managing her identity, making sure that her credentials are accurate, her credit score is accurate, her reputation on the financial market is properly set up so that when she wants to take that decision of the car, we are there for her and we've made sure that, that information is accurate, that she gets the best she can get out. Growing her finances. Now we have the ability to not only help her make sure her information is correct, but actually help her select the right product and service as well as transact that service on the platform, reducing her digital exhaust. Because as Tim pointed out, we can actually make the decisioning and the underwriting within the platform in closing those loans for her. So now we've reduced her exposure on top. I'll talk about those things in a bit more detail. But it all starts because the traditional journey that she was accustomed to was a lot about the recommendations of people. It's the salesperson at the car dealership that says you have these options, this is the one that you should take, she takes it. It was about that eye contact, that relationship. But we know that the digital world has changed all that. I mean, it's changed it already for many categories and financials, as Rick pointed out with the flea market examples, is actually even more complicated than most other markets. Lots of products, lots of different journeys, lots of different solutions to solve her needs. But we have an opportunity that actually in the Internet, we have more verification in signals that can make that transaction a trusted transaction. We can do ratings, reviews, look up the companies, get background information about the entities that she wants to work with and interact with, something that wasn't actually possible before at a depth that wasn't possible before. And with a marketplace platform and a decisioning platform, we can actually distill what's perfect for her, what fits her profile, what fits her capabilities and what fits the terms and conditions of the things that she's looking to achieve. So bringing all that in the digital world is just actually enhancing the capability for what she was already relying upon us on. We've been doing this for four decades. We've been protecting people as they start to explore the digital world. First, their devices, when they connect to the Internet, their email, the web pages that they visit, the scams that they're confronted with, whether it's now on WhatsApp or SMS, we are there along the way so that that connectivity is safe and trusted and secure. By entering with LifeLock, we went to that next level of protecting who she is on the Internet, her credit score, her credentials, making sure her accounts can't be taken over if they're leaked, getting her prepared and even more importantly, helping her fix if something bad has happened to her credentials. With Reputation Defender, we went into the next level of not only who she is, but how she's perceived. What are the attributes that will take into consideration as she goes down the digital journey? And with MoneyLion, we bring the power of decision making, the power of the ability to better understand what is right for her to go into, what transactions are right for her to take. So let's talk a little bit about identity. Identity covers a vast amount of information. And just simply when you enroll in LifeLock, we are starting to help protect you that first moment, whether it is your social security number, your email, your account credentials, whether it's your driver's license, your passport, all relevant, very relevant personal identifiable information that could be abused if gotten into the wrong hands that we help you monitor and protect. But even more than that, as you build your financial wealth, buy a house, we're able to go and make sure things like home title protection and other services and registration services are properly documented and verified. We also do it for your family. As we know and as Rick pointed out, as people enter the financial world, they start off at a different credit level, a different financial stage than when they're later mature in life. We bring tools to make sure that, that financial journey is protected through LifeLock. Regardless if you're a child coming into the world or a senior adult, making sure you're protecting all that what you've had, safeguarding all those assets that you've built. We monitor constantly. We alert if something happens, but we also have an extremely good restoration service, a white glove service that every member can access, where we will help navigate in the moment that something went wrong or that you were fraudulently abused in one way or another. That white glove service is backed up by insurance. Very often in those situations, there is financial loss. And within our packages, we cover those financial losses to make sure that you are put back in a position of being hold. Very important aspects of what we do within LifeLock. On reputation, what most people start to realize is your reputation, how you are perceived, is becoming important in every aspect of your digital life. Whether it's applying for a job, I mean, it's unbelievable that 57% of people in the HR departments or companies have rejected candidates purely because of the social profiles that they found online from those candidates. That's a huge number of people looking who you are and how you're perceived. Whether it's securing a loan, it's coming more and more a factor to look at beyond just your pure financials, other aspects of that digital life, employee verification, social profiles, risk adversity, it can come in just as strong as your actual hard facts of your bank account and your credit score. Getting elected. What's important is, at the end of the day, you want to do a few things. One, that first impression you want to make positive, which means when somebody searches your name or asks an AI chat about you, that that information is accurate and accurately represents who you think you are and who you want to be. So we want to promote the good and we want to remove the inaccurate, outdated information, false information, so that who you are and how you're perceived as accurate as possible because it comes as such a vital component of so many decisions that are occurring in life. And then of course, we want to build resistance, resilience. The resilience to keep monitoring that, to keep actively looking because the Internet is fast, things change, you're posting, you're acting, you're reacting and you want to make sure that at any given time, you're aware of what's happening so that you can adjust and take action to correct. Super important as we go down this digital journey. And I didn't touch on financials, but actually those two products have already gone very far into the financial services section in financial solutions. So on the credit score, we've been providing insights, how you can improve it. We've been providing information about what has impacted it so that you can take corrective adjustments. We've been looking at the transactions of the user, explaining to them when a transaction is abnormal to their normal day life, when something might have happened. It could be fraudulent or it could just be an unintended transaction that the user initiated so that they're put back in the power. And this journey has continued. Your credit score is a form of reputation, and it will be used. The transactions that we're monitoring are used to make decisions in the future. Why couldn't we just help? And that's when we came to MoneyLion and said there's an opportunity here to go that next step and really empower the user in that decision journey that they're going through. And it's interesting when you look at the two worlds, and both Rick and Tim alluded to it. On the one side, we have tens of millions of users trusting us every day to go on to the connected world, especially in The U. S. And we use The U. S. As an example because I think it's really important to understand. These millions of users of Gen in The U. S. Are taking 2,000,000 car loans every year, like I just gave you the example of Lisa. Over 7,000,000 credit cards every year, they are applying for new ones. They are opening more than 1,000,000 personal loans a year. These users have trusted us to make sure that what they're doing online is accurate. Those volumes, we have a responsibility to make sure that our users are actually picking the right products and right service. So on the one side, we have a customer base that is expecting us to do it. We flip on the other side, now we have the mechanisms to make sure it's done well and to the best of their advantage, To make sure that not only the service providers get the right profile and information, but that the users are put in a position of power to be able to make the right decision what fits their lives the best. And as they build the wealth, they have more to protect. And so we see the circle come right back again because then when they go into asset investment in other areas, we're there to make sure that those things that they've worked so hard to achieve are safeguarded and the journey continues. So on the one side, we have the zero CAC. We have a lot of existing customers with a lot of transactions where we're already today in the middle of that we're now introducing the financial wellness features to. And on the other side, helping them on their financial journey increases the responsibility that we have to protect them with more solutions and more services. So you might say there's companies out there that do it, but there's a lot to make secure financial wellness that has to come together. On the one side, it is that core protection, right? It is that trust, which was mentioned quite a few times. We've been there for decades providing that. We have the foundation to say, we make sure you are protected from the bad and that you're empowered to do the good. We've been doing it for years. Authenticity, we come from a membership world. We come from what's doing best for the users. We have the ability to understand those users, make sure their information is valid and verified and we're recognized for doing that as best in class across the entire country and across the entire world. Personalization. Tim talked about AI. We've also, since years, been using machine learning and AI technologies to fight against the bad, to recognize what has happened. And now we're just amplifying it even more to make sure that the whole ecosystem is extremely personalized and tailored to the needs of the user at the moment when they have to do something or want to do something. And of course, contextualizing it. We're able to follow that journey of the user, whether they're starting out in their financial careers and in their professional lives or when they're at the stage of thinking about future planning, retirement and how do I make sure that I have the stability that I need at that moment in life as well. And the open ecosystem, because while we have great first party products and services and we will continue to be the best in class in every product and service we run, It's really important that we have a network of ancillary services that when the users need spreads beyond what we can serve them, that we can give them the trusted guidance, the trusted relationship to those products and services that better fit their need. Those combined put us in a position to compete in a market which is very fragmented. All of these pieces have to come together in order to be able to provide a true authentic service to the users to make sure that they are going down their journey and doing what's best for them in their financial world, but also in their digital world. We empower them. And most importantly, we keep it in a controlled environment because through marketplace and through engine, we are actually limiting the exposure of those decisions. They're not going to the flea market and spreading out their credentials everywhere. We're keeping it within the system and making sure that, that transaction stays in that private environment. So as a summation, this journey, the financial journey and our cyber safety journey that we've been covering for users for decades is just merely an extension of where we were already going. It is bringing another set of values additional to somewhere where we were already interacting in a key part of their journey. Now we are able to pick them up in the beginning of their career, helping them apply for that job, getting accepted by a school, bringing them into a place when they start building assets to help them protect those assets and build security and give them insights on what they should do next to the point where we're protecting the wealth when they build it, safeguarding the values that they work so hard to earn. Doing this now with AI technologies and the capability to communicate, as Tim referred to, in snackable content along the way, we bring not only the confidence to transact, but we actually bring the information that they feel empowered that the transactions that they're making are right. And so with that, I wrap up why it fits within the Gen population. I'm going to hand it over to Vincent to talk a little bit about the greater Gen strategy and how we evolve. Understand more about our products and why we put identity, reputation management and financial wellness together into one division or one segment inside our company. I was discussing with Andy from Wells Fargo as we enter into the room. Andy was covering Symantec, dropped when we sold the business to Broadcom five years ago, and now it's back covering the stock. And we're talking about how big of a transformation we've been driving over the last five years. We're clearly set to become the global leader in cyber safety, specifically for consumers. And now with 500,000,000 endpoints on our platform, 75,000,000 paid customers, billions of attacks protected per day, that's no contest. We have a very strong R and D, AI, data team that constantly stay ahead of this evolving threat landscape and our evolving consumer needs, our customer needs. And then with that, our brands have really become an essential part of a consumer digital life. Five years ago, we were mainly a point product organization, and we set out to become a cyber safety platform backed by users, trusted brands and then moving from protection to empowering them. And today, in this next chapter, of course, our cyber safety remains our core foundation, but our purpose is becoming a lot bigger. It's really bringing together that cyber safety, that reputation management with financial wellness and expanded that to many other trusted solutions. Now enabled with a much richer set of data with an AI business model, as Tim and Travis have shared, we're able to provide kind of a unified architecture to our customers that allows us to provide personalized, contextual, verified experience to our customers in order to have the best recommendation possible. And that's the powerful convergence we're bringing cyber safety and trusted solutions and defining what we mean by protecting and empowering people in the digital age. That integrated portfolio architecture is not just a collection of products. Really, it's an evolution from protecting all the way to empowering people to really live and work and now thrive online in this digital world. And when we say we've transformed with a vision, with a strategy, we really are delivering it with operational excellence, our operational discipline, our focus, of course, importantly, delivering tangible results. We scaled our company in a balanced way, balancing growth and profitability. As you know, over the last five years, we've nearly doubled our revenue with a CAGR over 10% and delivering even better profitability with EPS CAGR of over 20%. And that's, for me, is a hallmark of both diversification and execution. We expanded from 20,000,000 paid customers, back five years ago, Andy, now to over 75,000,000 paid customer worldwide. We've built that integrated unified architecture that now allows us to deploy new services, new value to our customers in a seamless manner. And with that data set, the rich data enabled and permitted by the customers with AI as a mode, we've now created a more defensible edge by powering that personalization, that trust at scale. We also, as you know, have executed strategic acquisitions, integrating them into our ecosystem, and we've done that by maintaining our operational efficiency, consistently delivering our operating margin above 50%. So when we say we have a strategy, we have a vision and we're transforming our portfolio, really, it's not just strategy. It's demonstrated in those numbers that you see here in the way we operate and how we deliver at scale. As we bring together cyber safety and financial wellness, we really have an enormous, a gigantic opportunity ahead of us. In 2023, when we share about our TAM, Consumer Cyber Safety, we had about CHF 22,000,000,000 of opportunity at a steady growth rate of mid single digits. But with the rise of that digital finance, with the evolution of our consumer needs, the landscape is shifting for us. Consumers are increasingly looking for that trusted digital platform that will not just protect their identity or manage their data, but also will manage their money, monitor their credit, help them grow the overall financial profile and make better decision online. So by adding now secure financial wellness, we more than doubled our overall addressable market, overall now $50,000,000,000 growing at a higher rate. And note that this is just, as Travis mentioned, U. S. Focus for today. But cyber safety, our global footprint is fully global in over 150 countries. And so as we expand internationally, we expect to bring the full features, stack features to those consumers. It also does not include what I would call an AI multiplier as AI will constantly enable us to innovate more, automate more and bring services to customers that in the past were not accessible, lack financial planning, back down to them in a very automated manner. So it's not just a bigger market. It's a much more dynamic market. It's a faster growing market, and we feel that we're uniquely positioned to go and capture it. And why are we uniquely positioned? Because we've built a very strong portfolio of capabilities over the last five years. We definitely have an innovative driven portfolio focused on AI. With over 500,000,000 of endpoints on our platform, we now get unmatched insight into the customer profiles. And by being really focusing on the customer, the consumer journey, we're able to create that trusted experience to boost retention, lifetime value and loyalty. So this consumer first approach really makes us the leader in cyber safety and now extending that into that financial wellness. Our brands, Norton, Avast, LifeLock and now MoneyLion are definitely household names, two of them global, giving us a match in winning that experience, in winning that consumer confidence. We've also built a very strong distribution. We already had a very strong direct to consumer approach. With the acquisition of Havas, we've bought it on the premium to premium business model. We have a very strong B2B2C organization. And now with ENGINE, we're adding also another two sided way to distribute our products. And then of course, as you know, we execute with discipline. I think I will take that as our trademark. One of our key growth is really our AI powered platform that we've been building. It allows us to really deliver hyper personalized experiences at scale. We have insight over 500,000,000 endpoint, as I said, billions of signals are processed daily and AI understand our threat patterns, consumer behavior, and we just added now financial needs in real time. So this means that we now can offer the best recommendation to the customer at the right moment. And so whether it's protecting their identity, securing their data or choosing the right financial product at the right moment. So in short, for us, AI started by automating the protection, then providing the best cyber safety. Now it's really empowering our consumer to make confidently trusted decisions. And it's not just a future opportunity. We're already full in with this AI driven business model. We have AI capabilities that we've embedded along the customer journey for higher trust experience. From that behavioral segmentation I've talked about in the past that predicts better churn to AI powered scam assistant Genie that we now extend into all of our assets or sentiment AI in our reputation overall that helps you manage your reputation and strengthen it. And now we have AI driven product recommendation, but with the addition of MoneyLion and the engine and Spark capabilities, we feel that really we're able to offer even better recommendation at the best moment for the customer. So as we bring our capabilities together, we bring the strategy together, bring the assets we've built together into those two segments, we really have narrowed our focus on key growth bets for the next chapter that we've just entered. Obviously, cyber safety remains our foundation. We'll continue to innovate to stay ahead of this evolving threat landscape on a global basis. Trusted solutions already empower consumer around their identity, reputation and financial wellness. In those two segments, each one of our category, we offer number one or number two product features into the marketplace. And that's nothing new for us. You'll see us continue to innovate and adding features and adding capabilities in those two. Of course, looking ahead, we want to invest into our dynamic network of partners to extend the reach to the customers and bring now third party product. We had always offered our best in class first party product. But with this dynamic partnered network and the marketplace concept, we're able to increase the value to the customers. And at the same time, our AI platform continues to be enriched and will offer even better personalized guidance decision making for better decision. And finally, we'll continue to invest in moving internationally. You know that has been a growth factor for us on the cyber safety side. As we continue to integrate the full stack of features from cyber safety to trusted based solutions, we'll expand that into targeted countries as we go. Now to conclude, we moved from point product to a cyber safety platform now to an ecosystem. An ecosystem powered by this AI platform, a strong first party portfolio of products and a growing partner that can supplement with new products and added value for the customers. And so our strategic priorities will create this growth cycle where we have more users, which provide smarter insights, better product, stronger trust, higher scale, and that's the Gen ecosystem. So we're not just protecting consumers, we're now empowering them with confidence, choice and controls in their digital life, and that's what will unlock the next chapter of Gen growth. So not to be overdone by Rick in his video, I've reshot the video I started the presentation able to our We're deliver deliver able make to we're but also when it's wonderful, like when you start fresh. Say I do. Take a leap and plan for future moments because real financial wellness is about having the freedom to live the life you want. GEM, the freedom to live. Thank you. I will invite now my fellow here to join on stage, plus Natalie, our CFO. Most of you, of course, know Natalie. And we'll go into questions. Saket, you're the first one to raise your hand. We're going to give you the mic. Yes, here. Yes. Okay. Perfect. Thanks. Hey, everybody. Saket Kalia from Barclays. Thanks a ton for hosting this session. Really helpful, really educational, particularly from the whole group here. Vincent, maybe this is a question for you. So when Moneyline was public, about a third of it, I think, was coming from enterprise, right? You guys correct me there if I'm wrong. And I'm going to use that as sort of a proxy for the network, right? And the value there is clear. It was a thirty, sixty, 90, that great triangle. That was awesome. Maybe the question, Vincent, for you is how do you think about the future of the other two thirds of the business, right? There was a growing subscription component there really changed around the Norton business, right, with subscription. Maybe that's part of it. But how does that mix of the business between that twothree and onethree change over time? Yes. And I'm going to bring about the first onethree, but let me talk about first the marketplace. It was about onethree in MoneyLion, but they were roughly around 40%. So it's faster growing. We've delivered threefour in a row now at 50% growth rate in the engine. I think it's a fantastic capability, not only to bring financial wellness advice and decision making into the Gen asset, but as you've heard from Tim, bringing that into other people to go and reach out to the customers. Especially in the days where the SEO is a little bit like question, what happened with AI? This is the perfect reach engine to go and provide the product you need. We definitely will continue to invest in that, expand maybe even beyond wellness and really use the engine as the marketplace for us to provide best decisions in various trusted solutions. Now when it comes to the other part of the portfolio of MoneyLion, it's the best in class first party financial management app that offers the richest set of features from basic credits, build up in cash management all the way to investing capabilities. The business was essentially transaction based in terms of its revenue view. And as you know, in Adyen, we've built a lot of membership. We moved from point products to membership structure, and we'll continue to develop new membership and develop the business model into membership view there. We've had strong growth rate in that area, too. But at this point, DiamondGen is growing faster. Thanks. Bob Kulbith from Evercore. Thank you again for the day. Can you just this is primarily for Tim, but anyone else wants to weigh in as well. Can you just sort of take us through the decision framework that takes place in terms of 1P versus 3P offers, again, through that lens of thirty-sixty-ninety? Just what sort of drives the framework? And then given management's prior comments around Q2, we're making some changes within PFM. I assume that plays out as a higher share of customer acquisition directed to 3P offers. But maybe could you just sort of tell us how that plays out? Do you change the decision framework at all to change the end result? Well, I think as Rick mentioned, we have this really highly differentiated set of first party products, right? And the first place our marketplace went was those adjacent products that really help our customer throughout potentially around first party products we don't offer. And so that's really the genesis of the marketplace, being able to identify those needs where we can have a robust sort of comparison and marketplace for areas where we don't have those first party products, right? And I think that's our philosophy to make sure we keep that customer kind of throughout their journey. If I can add there, definitely, the marketplace will offer visibility of the consumer needs on a much broader spectrum. We know there are some products we'll never get into. We're not going to become a mortgage company or a lending company. And so there, we will offer it. It will be a third party product. We know the consumer needs. The other product we could consider. LifeLock customers kept asking us about wheel riding or estate planning. We don't have that. We may offer that first as a third party product and later on decide that it can become an in house. And so we're going to have that constant view around what we can offer. When we bring as first party product, we want to have the conviction. We can be number one in that market category, and we're going to focus on that. Andy Nowinski, Wells Fargo. Great job today. This is really helpful. So I wanted to ask a question on the cross sell opportunity. The 30% margin that you talked about getting when a channel partner brings a customer to Gen, I think, is interesting. But a lot of investors are certainly more interested in that cross sell where and what you're seeing there because I think the cross sell opportunity represents a significantly higher margin than 30%. So just wondering if you could maybe talk about what you're seeing from that perspective. I just want to talk about within the marketplace and then talk about the synergies with Gen. Yes. So the 30% channel is incredibly important, as we talked about, because we're able to bring in those three fifty million inquiries. And then, of course, these are transactions that are not all just being memorialized at that point in time. A customer may not be ready to take that mortgage. They may not be ready to take that $10,000 personal loan or the insurance. And so what we're doing is we are retargeting those three fifty million inquiries at a point in time and using the data view that we have most likely have with that customer to be able to cross sell them into either the initial intent product that they had or other products that can offer them. And so what we've been seeing is tremendous success around that, particularly when a customer has a first party product with us. We have an extremely high take rate for them taking the third party product. So when I say that the fastest growing part of our business is the 90% margin, it's being driven by those two drivers: first party customers being able to be surrounded by the right third party products and then coming in through that 30% channel and us retargeting them at a later time and life cycling them. The way I look at it, Andy, is we have acquisition doors into our portfolio. A customer comes with a security mindset or need to protect an identity. Or in this case, at the 30% margin, as you call that channel, a need for a financial product. And we'll play the long game. We'll really have the right entry doors for our portfolio, and you know we have many. This is a new one that we added. And once a customer is being touched by us, we'll make sure we offer the best value, starting to move from transactional to subscription, starting to add it more value. You know that on the Northern side, we've increased our cross sell from zero, five years ago to now 25% penetration. We'll play the long game, and we're planning to drive that. We have 500,000,000 users here that have not been exposed to our marketplace. And the most natural immediate place would be the marketplace into the LifeLock applications to really meet Liza's needs that Trace mentioned. Awesome. Roger Boire with UBS. Thank you again for the data. It's really helpful. I wanted to go back to the competitive matrix slide you shared earlier. I thought that was really helpful in showing kind of the converging markets with traditional financial institutions, emerging fintech, cyber safety platforms like yourselves. Maybe for Rich or Tim, how do you think about the appetite for MoneyLion customers for some of these additional cyber safety products? And I know before the acquisition, you had offers through the marketplace around fraud detection and monitoring. How do you think about kind of that cross sell element? Yes. I can start. And then, Tim, if you want to add anything. So what is really powerful about what we are doing now together is that we are creating this new secure financial wellness segment. And so in fact, these things haven't been brought together. The thing that people are protecting when they're thinking about financial transactions, they're protecting their finances. And so inherently, to be able to bring an added level of security and trust is going to drive more conversions. We see that today. If you're within our MoneyLion consumer app, the highest conversion we get is when someone feels safe that they can take a third party product because we've integrated and personalized that offer with an app. And so now to be able to do that across the entire platform gives us even more encouragement around really defining a completely different secure customer experience so they actually can start to benefit from all of the different advancements that have been within FinTech but actually haven't been taken advantage of by the average consumer. I'll just add to that. What we've seen in our user base is tremendous demand for these services. When we look at some of the content feed as an example, there's quizzes where we're engaging folks in how to learn more about protecting themselves. Those quizzes engage at higher levels than anything else that we have. And so I think that's the part of the thesis is that putting those two things together is what customers want. I can add a couple of things I wanted to in my head is, many of you have asked is what does moving to membership means? And when we see customer buying a mortgage and having different needs, we have a lot of product can offer. What about the home title lock that is in our Northern 360? What about credit monitoring? Or a restoration agent that Travis mentioned, all of that will be part of that over time incremental value we will bring to all of our customers. Tomer Zilberman, Bank of America. Maybe two questions for you. As you think about first party versus third party products, how important is it to be competitive on rates like APR, APY? Is it something that you can be a little bit more favorable for yourselves because you have the integrated marketplace? Or is it something that you see as very competitive? Yes, I'll kick it off. So when it comes to being competitive, this is the benefit of authentically having both first party and third party products. So where we're the winning solution from an APR or an API perspective, if we're the winning solution, then the customer benefits. If not, we're able to offer the customer a full array of third party products. And as Tim kind of went through extensively, by being able to kind of host underwriting models, being able to kind of host unique data sets and put those together to give the customer the best APR solution out there is unlike any other solution in the marketplace. And so we benefit from being on both sides of the first party and third party products, unlike many competitors that they're only going to keep promoting their first party products or they're going to put whatever marketplace offer that they have available to you at the time. Is there any deeper insights to using first party things that you can leverage AI more than third party? I think I love this question because when we talk about first party, think it's really important to think about the PFM and what we're doing with the customer. When I talked about those insights and things that we have, customers are linking their accounts to us. And so the first thing that we're able to do is to help them think through the types of products that they should be considering. So yes, we absolutely have a significant benefit by having a PFM relationship with a customer where we're getting a considerable amount of data to be able to help them choose the right first party or third party products. Got it. If I can sneak in one more, Jason. You talked about your products that are in times of excess, the products that are in times of need. Do you see different growth profiles on each? Or is it more broad based? And the reason I'm asking is I think you talked about a 30% average growth rate. The last quarter, you're kind of in excess of 40% for Moneyline. So the question is, is there better growth on the in times of need products? I would say, if I could just add, so one of the customer insights that we have is that customers lead incredibly dynamic financial lives. So being there both in times of need and excess, it's the same customer going through that journey. As Rick mentioned, sometimes there's financial shocks, both positive and negative. And being able to be there throughout that entire journey is what drives that LTV. So it's hard to decouple those two things because it's the same user going through that and we want to maintain that relationship. Yes. I would say there really hasn't if you think about the platform, we've gone through multiple cycles delivering to a breadth of different customer profiles. And so during a rising rate environment, we saw significant demand for yield type of accounts. We saw less demand for personal loans. As the macro environment shifted back, we're starting to see that kind of increase. We also have people's rates resetting. So you've seen a lot of demand on personal loans, HELOCs, mortgages, insurance. And so we tend to kind of benefit from being a platform. And so whether it's in times of excess or times of need, we've consistently been delivering over 30% growth. I'll just ask another one. I was impressed by the strength of the marketing technology that Moneyline has in terms of some of the attempts to engage a younger demographic and use TikTok. And I'm just curious, Vincent, how do you think about the ability to augment what is already, I think, a pretty strong marketing program? Is that something you think about in terms of engaging younger demographics? Short answer is yes. And I'll pass it to Travis, who has been our Chief Commercial Officer and will tell you how he's been to leverage all of that. Well, I mean, Tim mentioned that the snackable content, it's really important for every category that we're in, not just the financial products. Being able to explain these complex things that happen on the threat landscape in a way and in a communication that the people are used to, it's a vital part of what our future will be. You will see much more of that type of capability going across the entire portfolio, making it comprehensible what the people are facing really in the threat landscape that we have today. It's great stuff, actually. The feed is fantastic. Hal Gesh from B. Riley. My question is on the integration of MoneyLion and the full platform. Moneyline barely grew its advertising and marketing spend over a four year period, but grew very, very fast. I was just a question, Gen Digital is a much bigger company, much bigger voice in the market. What are you what is your voice in the market scale is bringing to MoneyLion to kind of grow it even maybe at a better pace or add more users? Thank you. I think it has really two things. First of all, it brings an installed base of 500,000,000 users. That have been many of them asking for more insight into what to do with their data. And I think here, we're going to be able to enhance. We also bring an overall trust element, if you want, into the discussions. While MoneyLion has been a fantastic grower, as you know, in fintech, a lot of those assets are lacking the component of trust. And we bring here that legitimate trust based on real value delivered financial for tracking cyber safety agent. I think that's going to help us create this new category, secure financial wellness, which hopefully will stand apart. Thanks. Andy again. I thought the overview of all the MoneyLion solutions was certainly was really helpful. It certainly have a lot more products and offerings I was wondering if you could give any sort of color around like where does the typical customer start when they come to MoneyLion? What do they typically spend with MoneyLion when they start the journey with you? Yes. So let's break it into our so MoneyLion, when we use that term, it's a lot. And so when you look at the consumer marketplace, what we see is a lot of conversion within personal loans, with insurance and savings accounts. And then on the first party product side, what we see is a lot of conversion through first linking within the PFM and then being able to have the consumer get one of our cash management solutions and invariably banking and then with a high attachment rate third party products. So that life cycle spans from high conversion on some type of cash management, PFM, through to kind of core payments and banking and then a lot of success with the full adjacent product suite in the marketplace. Saket again. The 500,000,000 users are something that keeps on coming up, and it's a very it's a big number, very compelling. But I'm trying to think if we've ever talked about this. Have we ever talked about the difference in demographics of the users between Gen and Moneyline? And if so, can you just talk about what are some of the is there any overlap? Is it completely complementary? I'm just curious if we could talk about how the demographics differ between the two. Sure. So it's a really great question. At the end of the day, you cannot completely profile a user in the MoneyLion ecosystem separately from the Gen ecosystem, whereby they do tend to be audiences that are expanding. MoneyLion does have a bit of a younger cohort versus our cohorts. And so the opportunity is because they are just as vulnerable for cyber threats to bring cyber technologies and knowledge into that customer base, while at the same time bringing in those capabilities into our customer base who transacting financially extremely frequent because they have assets, they have the capabilities. So they are actually augmenting each other. They're growing. Jeff Mother from Baird. Can you maybe broaden out that concept? And I guess what I'm wondering is, it's essentially like who are you competing with from each of the sides. So what characteristics are you maybe over indexed to? Like where are you in terms of prime versus subprime? Or how do you compete against like a how do you have unique audience to sell to some of the financial products companies relative to like an Experian or an Intuit? Or yes, if you could just maybe like talk about like beyond age, what you over indexed to or under indexed to or where you'd be unique for a consumer if you're trying to cross sell them from like the cyber solutions or the LifeLock side into Moneyline? So if we talk about audiences, you have to remember part of MoneyLion was engine, was the marketplace, which had a completely broader set of audience users than the MoneyLion first party apps. So we already had a very rich portfolio, and we're adding to it in all directions, both categories as well as partners. And so I wouldn't say that there was over indexing in one or the other. Of course, bringing in the rich ecosystem of our user base actually expands that entire three fifty million leads that Rick was talking about that are coming into that ecosystem to the users that we first addressed, which is The U. S. User base. Zach Gunn, Feet Partners. I wanted to ask on the Instacash product. So over the last six months, we've seen the market for EWA type products get more competitive. Cash App and Chime have more than doubled their advanced volume year over year. So first, how large of a market opportunity do you think earned wage access is? And do you view it as a winner take all market? Is there room for several providers? Second, how do you think about the go to market approach? Because right now, it's primarily direct to consumer. But with all of the partners that you have, there's also the B2B2C where daily pay plays along with others. So just comments around both of those would be appreciated. Thank you. Sure. So we have a front row seat to this, right, because we operate both a first party earned wage access product as well as an earned wage access is part of one of our verticals within the marketplace. And so it certainly isn't a winner take all. Each one of the different participants within that market space have different nuances and different strategic benefits to a customer. And so what consistently we are all helping customers with is really avoiding a lot of the overdraft fees that are out in the marketplace and also being a solution for someone to help with kind of cash management issues that they have. And so it's a significant, obviously, TAM, when you kind of think about those two fee types. And so from a how do we think about the kind of competitiveness across the marketplace? There are moments where MoneyLion is kind of actively the converting and acquiring within our marketplace. But equally, all of the other providers participate as well. And what's really interesting in terms of our solution is it obviously lends itself extremely well to other types of offerings and partnerships, which I'll pass it over to Travis to comment on. As you know, we have a thriving landscape of partners around the world in different categories, whether it's in the employee benefits channels, our telcos and ISPs, but also even some of our banking relationships. And of course, we're always looking at which product matches what partner for their customer segments. And in the best cases, they take the entire marketplace and they handle all the products that they don't do. But of course, we look specifically per partner for their customer base, what product is best applicable. On the channel network, just wondering if you could discuss maybe how your publisher partners manage that inventory. Have you effectively outcompeted competitors or marketplace competitors? Or is there additional surface area that you could win from those partners? That's one. And then just secondly, the health of the partner network. I guess a lot of us think about questions about are some of those partners going to face traffic headwinds over time from Gen AI? That's been a consistent question of worries. So those two questions, please. Thank you. Yes. Why don't I start? So in terms of the health of the network, it is exceptionally healthy. It's really important to remember that unlike other marketplace models, we're a technology platform. We have deep integration with our product partners, as well as with the channel partners. So when we say we power the financial ecosystem, it means that many of our partners that sit on the product side are also using us to help monetize their customers. And those deep integrations make it incredibly sticky. And so what we also see is because we're such a powerful platform, we even have other comparison sites that's kind of sit to monetize their customers using our network. So it's extremely unique from that perspective versus us just being a purely direct to consumer kind of performance marketing play. And what was interesting, you probably saw it in the chart, you saw logos on both sides of the equation. So people on the one side offering distribution to their customer base were also the ones providing product into the marketplace. And that's what the ecosystem of My Owner has done really well. And you can imagine how much you can spread that in both in equations across all different content types and channels in ways of distribution. Yes, I'll just add one last thing. As you saw, we have a pretty diversified set of channel partners, right? Some of them perhaps have headwinds from Gen AI, but many of them have tailwinds from Gen AI. And so what we see is that diversified approach, especially meeting our user where they're making the decision is the strategy that really wins. And this is Santo from Gabelli Fund. I want to ask a question about international expansion. So Moneyline seems attractive. My question is which set of countries will be the low hanging fruit for MoneyLion? Yes. So we're not going to give you the country today, but we believe this, first of all, a lot more opportunities to gain in The U. S. Building up on our current stack and really adding our value to the overall view, that already has a lot of growth potential. Outside of that, as we improve our model, we're going to move steadily. You know some of our countries that we're in. Japan, UK, France, Germany are leading countries for us, Canada, from a cyber safety perspective. And where it makes sense, we're going to go and deploy there. Okay. Very good. Well, I do want to thank you for your interest, for coming here in the room, for those who are in the room. And hopefully, that was really helpful for you to understand our Gen expansion strategy into that new segment, trust based solution. Thank you.

Speaker 1: All right. You're ready to start? Excellent. Well, already greeting all of you. I wanted to thank you for taking the time this morning and come and review our still hear the retail music. All right. all right You're ready to start? you're ready to start Excellent. excellent Well, already greeting all of you. well already greeting all of you I wanted to thank you for taking the time this morning and come and review our still hear the retail music. i wanted to thank you for taking the time this morning and come and review our still hear the retail music Yes. And I wanted to that sounds good. Yes. Let me go over the music. My voice is caring enough, right? Yes. yes And I wanted to that sounds good. and i wanted to that sounds good Yes. yes Let me go over the music. let me go over the music My voice is caring enough, right? my voice is caring enough right So definitely happy to see you all in person. I've met many, many faces. Always happy to see you. Our last Investor Day was in 2023, so it's great to see you. Today is a briefing, slightly different. So definitely happy to see you all in person. so definitely happy to see you all in person I've met many, many faces. i've met many many faces Always happy to see you. always happy to see you Our last Investor Day was in 2023, so it's great to see you. our last investor day was in 2023 so it's great to see you Today is a briefing, slightly different. today is a briefing slightly different Actually, Saket was the first one to say, hey, can you explain to us a little bit more about your expanding strategy into financial wellness? What does that mean? And then he says, and to be honest with you, I don't know anything about MoneyLion. So if you can also show me what the product does, that would be fantastic. Saket, so we definitely heard you. Actually, Saket was the first one to say, hey, can you explain to us a little bit more about your expanding strategy into financial wellness? actually saket was the first one to say hey can you explain to us a little bit more about your expanding strategy into financial wellness What does that mean? what does that mean And then he says, and to be honest with you, I don't know anything about MoneyLion. and then he says and to be honest with you i don't know anything about moneylion So if you can also show me what the product does, that would be fantastic. so if you can also show me what the product does that would be fantastic Saket, so we definitely heard you. saket so we definitely heard you And since then, a lot of our cyber safety investor have asked us the same thing. I'm also happy to see a few new faces. I'm hoping we're going to also attract investors that are interested into what's happening in the world of finance, technology finance and our financial products are being distributed now in this new era. Before we start, I decided to do the normal disclosure. As you know, I mentioned today is all about financial wellness and MoneyLion. And since then, a lot of our cyber safety investor have asked us the same thing. and since then a lot of our cyber safety investor have asked us the same thing I'm also happy to see a few new faces. i'm also happy to see a few new faces I'm hoping we're going to also attract investors that are interested into what's happening in the world of finance, technology finance and our financial products are being distributed now in this new era. i'm hoping we're going to also attract investors that are interested into what's happening in the world of finance technology finance and our financial products are being distributed now in this new era Before we start, I decided to do the normal disclosure. before we start i decided to do the normal disclosure As you know, I mentioned today is all about financial wellness and MoneyLion. as you know i mentioned today is all about financial wellness and moneylion What is MoneyLion about? This is not an Analyst Day. We're not going to make an update to our guidance. But as we talk, as we present, we may always have forward looking statements about our expectations, about our forecast, about our plans. And you're mature enough to know that things may change. What is MoneyLion about? what is moneylion about This is not an Analyst Day. this is not an analyst day We're not going to make an update to our guidance. we're not going to make an update to our guidance But as we talk, as we present, we may always have forward looking statements about our expectations, about our forecast, about our plans. but as we talk as we present we may always have forward looking statements about our expectations about our forecast about our plans And you're mature enough to know that things may change. and you're mature enough to know that things may change Actual results might be different. And of course, we undertake no obligations to update our forward looking statements. So with that out of the way, let me start with a video that we started three years ago. Actual results might be different. actual results might be different And of course, we undertake no obligations to update our forward looking statements. and of course we undertake no obligations to update our forward looking statements So with that out of the way, let me start with a video that we started three years ago. so with that out of the way let me start with a video that we started three years ago

Speaker 2: There's a new generation out there, not Gen X, Y or Z, it's Gen D, generation digital, 5,000,000,000 people and counting who are all online. Today, digital life is life. People bank, shop, learn and connect from just about anywhere, use voice assistance in their homes and cars to navigate their lives going beyond digital safety. Rooted in our heritage of protecting the first digital generation, our family of brands is focused on powering digital freedom and possibilities for generations to come. We'll do more than just help over 500,000,000 people around the world protect their data, privacy and identities. There's a new generation out there, not Gen X, Y or Z, it's Gen D, generation digital, 5,000,000,000 people and counting who are all online. there's a new generation out there not gen x y or z it's gen d generation digital 5,000,000,000 people and counting who are all online Today, digital life is life. today digital life is life People bank, shop, learn and connect from just about anywhere, use voice assistance in their homes and cars to navigate their lives going beyond digital safety. people bank shop learn and connect from just about anywhere use voice assistance in their homes and cars to navigate their lives going beyond digital safety Rooted in our heritage of protecting the first digital generation, our family of brands is focused on powering digital freedom and possibilities for generations to come. rooted in our heritage of protecting the first digital generation our family of brands is focused on powering digital freedom and possibilities for generations to come We'll do more than just help over 500,000,000 people around the world protect their data, privacy and identities. we'll do more than just help over 500,000,000 people around the world protect their data privacy and identities We'll help them live safer, richer lives. It's time for the next gen of gens. We'll help them live safer, richer lives. we'll help them live safer richer lives It's time for the next gen of gens. it's time for the next gen of gens

Speaker 1: Excellent. This video is from the close of the acquisition of Avast, and it's more relevant today than it was ever before. Our vision has always been very focused, not only on protecting consumers but also on empowering them to live safely and confidently in the digital world. And from there, we developed this two pronged strategy that we actually first shared at the Analyst Day in 2021. On the first side, it was really about transforming a point product security portfolio into a full cyber safety platform to protect as many people as possible in this digital world. Excellent. excellent This video is from the close of the acquisition of Avast, and it's more relevant today than it was ever before. this video is from the close of the acquisition of avast and it's more relevant today than it was ever before Our vision has always been very focused, not only on protecting consumers but also on empowering them to live safely and confidently in the digital world. our vision has always been very focused not only on protecting consumers but also on empowering them to live safely and confidently in the digital world And from there, we developed this two pronged strategy that we actually first shared at the Analyst Day in 2021. and from there we developed this two pronged strategy that we actually first shared at the analyst day in 2021 On the first side, it was really about transforming a point product security portfolio into a full cyber safety platform to protect as many people as possible in this digital world. on the first side it was really about transforming a point product security portfolio into a full cyber safety platform to protect as many people as possible in this digital world And then from there, as we're gaining more and more trust from our customers, we wanted to add scale, trust and trust based solutions for them to do something and get results and value from the data and the services that we are protecting. And that's what we are here to talk about today. With the acquisition of MoneyLion, we have now fully begun this second chapter. Powering digital freedom has always been a very broad and very big concept. Some of you have called it the marketing tact. And then from there, as we're gaining more and more trust from our customers, we wanted to add scale, trust and trust based solutions for them to do something and get results and value from the data and the services that we are protecting. and then from there as we're gaining more and more trust from our customers we wanted to add scale trust and trust based solutions for them to do something and get results and value from the data and the services that we are protecting And that's what we are here to talk about today. and that's what we are here to talk about today With the acquisition of MoneyLion, we have now fully begun this second chapter. with the acquisition of moneylion we have now fully begun this second chapter Powering digital freedom has always been a very broad and very big concept. powering digital freedom has always been a very broad and very big concept Some of you have called it the marketing tact. some of you have called it the marketing tact It's not. It's actually very concrete for us. It's about building products, innovative products that help people grow, manage and secure their digital and financial lives. Grow by giving them the tools, innovative tools to improve their well-being. Manage by helping them manage the complexity of that digital world, the complexity now of the financial ecosystem and helping them take control of that overall environment. It's not. it's not It's actually very concrete for us. it's actually very concrete for us It's about building products, innovative products that help people grow, manage and secure their digital and financial lives. it's about building products innovative products that help people grow manage and secure their digital and financial lives Grow by giving them the tools, innovative tools to improve their well-being. grow by giving them the tools innovative tools to improve their well-being Manage by helping them manage the complexity of that digital world, the complexity now of the financial ecosystem and helping them take control of that overall environment. manage by helping them manage the complexity of that digital world the complexity now of the financial ecosystem and helping them take control of that overall environment And secure, secure by protecting identities, protecting their data, protecting their money from the daily risk of living in this digital world. So in other words, digital freedom has never been just about safety. It's about enabling confidence, enabling trust so that people can live, work and thrive online in the digital world without the fear and friction that comes with it. Today, you'll hear from several of our key leaders. Rick Correa has been with us now through the MoneyLion acquisition. And secure, secure by protecting identities, protecting their data, protecting their money from the daily risk of living in this digital world. and secure secure by protecting identities protecting their data protecting their money from the daily risk of living in this digital world So in other words, digital freedom has never been just about safety. so in other words digital freedom has never been just about safety It's about enabling confidence, enabling trust so that people can live, work and thrive online in the digital world without the fear and friction that comes with it. it's about enabling confidence enabling trust so that people can live work and thrive online in the digital world without the fear and friction that comes with it Today, you'll hear from several of our key leaders. today you'll hear from several of our key leaders Rick Correa has been with us now through the MoneyLion acquisition. rick correa has been with us now through the moneylion acquisition He has a prior life in banking. And since 2016, he joined MoneyLion as CFO and CEO to really help Dee drive MoneyLion forward. He's managing MoneyLion business for us inside Gen, and we're super happy to have him, his leadership and his expertise on our leadership team. You will then hear from Tim Hong. Where is Tim? He has a prior life in banking. he has a prior life in banking And since 2016, he joined MoneyLion as CFO and CEO to really help Dee drive MoneyLion forward. and since 2016 he joined moneylion as cfo and ceo to really help dee drive moneylion forward He's managing MoneyLion business for us inside Gen, and we're super happy to have him, his leadership and his expertise on our leadership team. he's managing moneylion business for us inside gen and we're super happy to have him his leadership and his expertise on our leadership team You will then hear from Tim Hong. you will then hear from tim hong Where is Tim? where is tim It's over there. So Tim is really leading our financial product, financial technology, white label that can be embedded into our different assets and maybe in other people's assets as well. He served as Moneyline's CPO. He has a passion for technology and consumer, especially in the financial management space. Then you'll hear from Travis. It's over there. it's over there So Tim is really leading our financial product, financial technology, white label that can be embedded into our different assets and maybe in other people's assets as well. so tim is really leading our financial product financial technology white label that can be embedded into our different assets and maybe in other people's assets as well He served as Moneyline's CPO. he served as moneyline's cpo He has a passion for technology and consumer, especially in the financial management space. he has a passion for technology and consumer especially in the financial management space Then you'll hear from Travis. then you'll hear from travis Many of you know Travis. Travis was the CEO of Avira for a few years when we acquired Avira. He became my business partner as Gen Chief Commercial Officer. He's been driving the growth over the last few years. And now he has raised his hands to build up our trust based solution, the segment that will encompass identity, reputation and financial wellness. Many of you know Travis. many of you know travis Travis was the CEO of Avira for a few years when we acquired Avira. travis was the ceo of avira for a few years when we acquired avira He became my business partner as Gen Chief Commercial Officer. he became my business partner as gen chief commercial officer He's been driving the growth over the last few years. he's been driving the growth over the last few years And now he has raised his hands to build up our trust based solution, the segment that will encompass identity, reputation and financial wellness. and now he has raised his hands to build up our trust based solution the segment that will encompass identity reputation and financial wellness And so with that, no further ado, Rick, I'll pass it to you. And so with that, no further ado, Rick, I'll pass it to you. and so with that no further ado rick i'll pass it to you

Speaker 3: Hey, good morning, everyone. So not to be outdone by Vincent, I thought I'd bring my own video as well. Hey, good morning, everyone. hey good morning everyone So not to be outdone by Vincent, I thought I'd bring my own video as well. so not to be outdone by vincent i thought i'd bring my own video as well

Speaker 2: Let's talk money then. Let's talk money then. let's talk money then Wait a minute. So how much should you actually be spending? Inflation hit a whopping 9.1%. Wait a minute. wait a minute So how much should you actually be spending? so how much should you actually be spending Inflation hit a whopping 9.1%. inflation hit a whopping 9.1% It's not a one size fits all. That's the tough part about it. You need clean books, people. Whoever learns the most wins a cash prize. To learn everything school forgot to teach you. Class is now in session. Get that money. You have Moneyline installed on It's not a one size fits all. it's not a one size fits all That's the tough part about it. that's the tough part about it You need clean books, people. you need clean books people Whoever learns the most wins a cash prize. whoever learns the most wins a cash prize To learn everything school forgot to teach you. to learn everything school forgot to teach you Class is now in session. class is now in session Get that money. get that money You have Moneyline installed on you have moneyline installed on

Speaker 3: All right. All right. all right MoneyLion has been on an incredible journey. And I'm proud to say that we have been pioneers, we've been innovators, we've helped transform the industry. It's been a series of firsts. We were the first to build the super app, the consumer finance super app, the most comprehensive content, product and marketplace solution ever built. We were the first to bring content through a streaming feed into a consumer app. MoneyLion has been on an incredible journey. moneylion has been on an incredible journey And I'm proud to say that we have been pioneers, we've been innovators, we've helped transform the industry. and i'm proud to say that we have been pioneers we've been innovators we've helped transform the industry It's been a series of firsts. it's been a series of firsts We were the first to build the super app, the consumer finance super app, the most comprehensive content, product and marketplace solution ever built. we were the first to build the super app the consumer finance super app the most comprehensive content product and marketplace solution ever built We were the first to bring content through a streaming feed into a consumer app. we were the first to bring content through a streaming feed into a consumer app While many were talking about financial literacy, we were putting our capital to work to be able to there's more capital at work right there. We were putting it to work to be able to help people access our one hundred thousand hours of financial content that we have, plus we have over 25,000 articles in our library. We've launched content creators and we've created user generated content. We were the number one downloaded finance app in the App Store, and we are the number one fintech in TikTok. We were also the first to bring financial marketplace technology inside of a consumer app to the masses, underscoring our consumer centric intent. While many were talking about financial literacy, we were putting our capital to work to be able to there's more capital at work right there. while many were talking about financial literacy we were putting our capital to work to be able to there's more capital at work right there We were putting it to work to be able to help people access our one hundred thousand hours of financial content that we have, plus we have over 25,000 articles in our library. we were putting it to work to be able to help people access our one hundred thousand hours of financial content that we have plus we have over 25,000 articles in our library We've launched content creators and we've created user generated content. we've launched content creators and we've created user generated content We were the number one downloaded finance app in the App Store, and we are the number one fintech in TikTok. we were the number one downloaded finance app in the app store and we are the number one fintech in tiktok We were also the first to bring financial marketplace technology inside of a consumer app to the masses, underscoring our consumer centric intent. we were also the first to bring financial marketplace technology inside of a consumer app to the masses underscoring our consumer centric intent We're the first to bundle all of our products into a transparent membership pricing structure. We are the first digital finance ecosystem. What that means is we bring leading technologies like our SDKs, our APIs, check out our next best offers and all of our content the entire financial industry. And the results, they're remarkable. Moneyline is the most unique and comprehensive financial services firm in the industry, and the closest competitor isn't even close. We're the first to bundle all of our products into a transparent membership pricing structure. we're the first to bundle all of our products into a transparent membership pricing structure We are the first digital finance ecosystem. we are the first digital finance ecosystem What that means is we bring leading technologies like our SDKs, our APIs, check out our next best offers and all of our content the entire financial industry. what that means is we bring leading technologies like our sdks our apis check out our next best offers and all of our content the entire financial industry And the results, they're remarkable. and the results they're remarkable Moneyline is the most unique and comprehensive financial services firm in the industry, and the closest competitor isn't even close. moneyline is the most unique and comprehensive financial services firm in the industry and the closest competitor isn't even close MoneyLion operates one of the industry's largest marketplaces, which means that we drive $350,000,000 total increase from the top of our funnel. That's been driving our 24,000,000 total customers, and 8,000,000 of them are active. In addition to that, we have tens of millions of users that we're then life cycle into becoming those active customers. We have over 40,000,000 products that have been consumed on our platform, 12,000,000 in the last twelve months alone. What you'll see is we have nearly two products per user. MoneyLion operates one of the industry's largest marketplaces, which means that we drive $350,000,000 total increase from the top of our funnel. moneylion operates one of the industry's largest marketplaces which means that we drive $350,000,000 total increase from the top of our funnel That's been driving our 24,000,000 total customers, and 8,000,000 of them are active. that's been driving our 24,000,000 total customers and 8,000,000 of them are active In addition to that, we have tens of millions of users that we're then life cycle into becoming those active customers. in addition to that we have tens of millions of users that we're then life cycle into becoming those active customers We have over 40,000,000 products that have been consumed on our platform, 12,000,000 in the last twelve months alone. we have over 40,000,000 products that have been consumed on our platform 12,000,000 in the last twelve months alone What you'll see is we have nearly two products per user. what you'll see is we have nearly two products per user Our revenue is about run rate revenue, $750,000,000, and we have an 80% recurring revenue profile. And importantly, we've been consistently growing at over 30%. Yes, our customers love us. So with all this success, why did MoneyLion decide to join Gen Digital, one of the leading cyber safety and identity protection firms? Well, to answer that, we have to go back to MoneyLion's vision. Our revenue is about run rate revenue, $750,000,000, and we have an 80% recurring revenue profile. our revenue is about run rate revenue $750,000,000 and we have an 80% recurring revenue profile And importantly, we've been consistently growing at over 30%. and importantly we've been consistently growing at over 30% Yes, our customers love us. yes our customers love us So with all this success, why did MoneyLion decide to join Gen Digital, one of the leading cyber safety and identity protection firms? so with all this success why did moneylion decide to join gen digital one of the leading cyber safety and identity protection firms Well, to answer that, we have to go back to MoneyLion's vision. well to answer that we have to go back to moneylion's vision Our vision is to be the number one destination to help consumers make their best financial decisions. To realize this vision, yes, as you can see, product is important, think of platform is important, having content, AI driven advice is important, but so is scale and so is trust. And with Gen's 500,000,000 users globally and having the leading trust based solutions, Gen accelerates our ability to realize this vision. Today, customers are seeing this proliferation of financial products and offers and tools. But with all the threats that are facing customers, the real barrier for them moving online, taking their lives and moving into the digital world is trust. Our vision is to be the number one destination to help consumers make their best financial decisions. our vision is to be the number one destination to help consumers make their best financial decisions To realize this vision, yes, as you can see, product is important, think of platform is important, having content, AI driven advice is important, but so is scale and so is trust. to realize this vision yes as you can see product is important think of platform is important having content ai driven advice is important but so is scale and so is trust And with Gen's 500,000,000 users globally and having the leading trust based solutions, Gen accelerates our ability to realize this vision. and with gen's 500,000,000 users globally and having the leading trust based solutions gen accelerates our ability to realize this vision Today, customers are seeing this proliferation of financial products and offers and tools. today customers are seeing this proliferation of financial products and offers and tools But with all the threats that are facing customers, the real barrier for them moving online, taking their lives and moving into the digital world is trust. but with all the threats that are facing customers the real barrier for them moving online taking their lives and moving into the digital world is trust And so what they're looking for is a financial wellness platform where they feel secure as they're thinking about financial decisions, making those financial decisions and then transacting. So the next generation of finance, it's secure financial wellness. With a combination of Gen and MoneyLion, the industry's only secure financial wellness platform emerges, where we deliver the most comprehensive financial services with AI driven advice, with unbiased content, with best in class products and importantly, all underpinned with trust. But let's double click on what trust means for the MoneyLion customer. MoneyLion is integrating the leading identity solutions and asset protection solutions that are available today. And so what they're looking for is a financial wellness platform where they feel secure as they're thinking about financial decisions, making those financial decisions and then transacting. and so what they're looking for is a financial wellness platform where they feel secure as they're thinking about financial decisions making those financial decisions and then transacting So the next generation of finance, it's secure financial wellness. so the next generation of finance it's secure financial wellness With a combination of Gen and MoneyLion, the industry's only secure financial wellness platform emerges, where we deliver the most comprehensive financial services with AI driven advice, with unbiased content, with best in class products and importantly, all underpinned with trust. with a combination of gen and moneylion the industry's only secure financial wellness platform emerges where we deliver the most comprehensive financial services with ai driven advice with unbiased content with best in class products and importantly all underpinned with trust But let's double click on what trust means for the MoneyLion customer. but let's double click on what trust means for the moneylion customer MoneyLion is integrating the leading identity solutions and asset protection solutions that are available today. moneylion is integrating the leading identity solutions and asset protection solutions that are available today We're integrating into our platform, taking what was already the most full featured platform and then adding this layer of trust. So while managing and growing their finances in the digital world, MoneyLion customers are going to be able to mitigate the risks of financial frauds and scams. And if they run into a breach, they're going to have someone that can help them fix the problem. We're even going to have restoration services and insurance coverage for losses. Now in addition to empowering people to take full advantage of the emerging digital transformation that's happening, trust is great business. We're integrating into our platform, taking what was already the most full featured platform and then adding this layer of trust. we're integrating into our platform taking what was already the most full featured platform and then adding this layer of trust So while managing and growing their finances in the digital world, MoneyLion customers are going to be able to mitigate the risks of financial frauds and scams. so while managing and growing their finances in the digital world moneylion customers are going to be able to mitigate the risks of financial frauds and scams And if they run into a breach, they're going to have someone that can help them fix the problem. and if they run into a breach they're going to have someone that can help them fix the problem We're even going to have restoration services and insurance coverage for losses. we're even going to have restoration services and insurance coverage for losses Now in addition to empowering people to take full advantage of the emerging digital transformation that's happening, trust is great business. now in addition to empowering people to take full advantage of the emerging digital transformation that's happening trust is great business Trust helps people trust helps us increase our conversions. It helps us increase ARPU. It helps us increase our products per user. It lowers CAC. And really importantly, it extends out and increases the lifetime value of a customer. Trust helps people trust helps us increase our conversions. trust helps people trust helps us increase our conversions It helps us increase ARPU. it helps us increase arpu It helps us increase our products per user. it helps us increase our products per user It lowers CAC. it lowers cac And really importantly, it extends out and increases the lifetime value of a customer. and really importantly it extends out and increases the lifetime value of a customer So let's take a look at the state of consumer finance today. The dilemma that the consumers are facing is it's a combination of chaos and curiosity. And so as I mentioned, customers are facing an ever more confusing and complex environment where they have to research what they want to do independently. And then when they figure out what they want to do, they have to go and transact on a disconnected array of financial products. Okay. So let's take a look at the state of consumer finance today. so let's take a look at the state of consumer finance today The dilemma that the consumers are facing is it's a combination of chaos and curiosity. the dilemma that the consumers are facing is it's a combination of chaos and curiosity And so as I mentioned, customers are facing an ever more confusing and complex environment where they have to research what they want to do independently. and so as i mentioned customers are facing an ever more confusing and complex environment where they have to research what they want to do independently And then when they figure out what they want to do, they have to go and transact on a disconnected array of financial products. and then when they figure out what they want to do they have to go and transact on a disconnected array of financial products Okay. okay That's just a fancy way of saying there's way too much stuff. And so customers are juggling credit cards, they're juggling auto loans, retirement accounts, 401s, their savings accounts and a dozen apps. And they're asking like, what does my portfolio of products look like? What's kind of personalized in terms of basket of financial products that I should have? And then of course, once you've kind of figured that out, life throws you a curveball, some good and some not. That's just a fancy way of saying there's way too much stuff. that's just a fancy way of saying there's way too much stuff And so customers are juggling credit cards, they're juggling auto loans, retirement accounts, 401s, their savings accounts and a dozen apps. and so customers are juggling credit cards they're juggling auto loans retirement accounts 401s their savings accounts and a dozen apps And they're asking like, what does my portfolio of products look like? and they're asking like what does my portfolio of products look like What's kind of personalized in terms of basket of financial products that I should have? what's kind of personalized in terms of basket of financial products that i should have And then of course, once you've kind of figured that out, life throws you a curveball, some good and some not. and then of course once you've kind of figured that out life throws you a curveball some good and some not You might get a job change, you might need a car repair, you might have a tax refund, you might have to help a family member. And so these shocks are becoming more and more constant for people. And they're wondering, where can I turn to get that trust and guidance? And in the rapidly evolving digital world, more and more threats are emerging. And they're accelerating at the pace of technology from investment scams to phishing to social media scams and they're turning to different providers to say, who can I trust? You might get a job change, you might need a car repair, you might have a tax refund, you might have to help a family member. you might get a job change you might need a car repair you might have a tax refund you might have to help a family member And so these shocks are becoming more and more constant for people. and so these shocks are becoming more and more constant for people And they're wondering, where can I turn to get that trust and guidance? and they're wondering where can i turn to get that trust and guidance And in the rapidly evolving digital world, more and more threats are emerging. and in the rapidly evolving digital world more and more threats are emerging And they're accelerating at the pace of technology from investment scams to phishing to social media scams and they're turning to different providers to say, who can I trust? and they're accelerating at the pace of technology from investment scams to phishing to social media scams and they're turning to different providers to say who can i trust And that for us is the opportunity. The more complex and the more confusing the environment gets, the greater the need for exactly what MoneyLion can deliver, which is a path towards a safer and trusted digital life. In summary, people are looking for authentic and personalized holistic advice versus point solutions and transactional solutions that are out there in the marketplace. And you need AI to solve this multivariable problem where we have been a pioneer. They're looking for optionality. And that for us is the opportunity. and that for us is the opportunity The more complex and the more confusing the environment gets, the greater the need for exactly what MoneyLion can deliver, which is a path towards a safer and trusted digital life. the more complex and the more confusing the environment gets the greater the need for exactly what moneylion can deliver which is a path towards a safer and trusted digital life In summary, people are looking for authentic and personalized holistic advice versus point solutions and transactional solutions that are out there in the marketplace. in summary people are looking for authentic and personalized holistic advice versus point solutions and transactional solutions that are out there in the marketplace And you need AI to solve this multivariable problem where we have been a pioneer. and you need ai to solve this multivariable problem where we have been a pioneer They're looking for optionality. they're looking for optionality They want to help something to help them manage life's small and large income and expense shocks and to help them with the number one anxiety that faces people today, which is how do I deal with an expense shock and an unexpected bill. And they're looking for protection, protection to reduce the current and emerging threats that are stopping people from moving their financial life into the digital world. So if these are the customers, what do our customers look like? The problems are vast and the use cases are infinite, which means we serve the 99% of customers that are looking for personalized answers to burning questions like, I just got a tax refund, 5,000. How should I think about investing that for the short and long term? They want to help something to help them manage life's small and large income and expense shocks and to help them with the number one anxiety that faces people today, which is how do I deal with an expense shock and an unexpected bill. they want to help something to help them manage life's small and large income and expense shocks and to help them with the number one anxiety that faces people today which is how do i deal with an expense shock and an unexpected bill And they're looking for protection, protection to reduce the current and emerging threats that are stopping people from moving their financial life into the digital world. and they're looking for protection protection to reduce the current and emerging threats that are stopping people from moving their financial life into the digital world So if these are the customers, what do our customers look like? so if these are the customers what do our customers look like The problems are vast and the use cases are infinite, which means we serve the 99% of customers that are looking for personalized answers to burning questions like, I just got a tax refund, 5,000. the problems are vast and the use cases are infinite which means we serve the 99% of customers that are looking for personalized answers to burning questions like i just got a tax refund 5,000 How should I think about investing that for the short and long term? how should i think about investing that for the short and long term I just graduated. I'm looking for to build my credit. Should I do it with a credit card? Should I have a credit card at all? I just got expense shocked with a $3,500 truck repair bill, and it couldn't have come at a worse time. I just graduated. i just graduated I'm looking for to build my credit. i'm looking for to build my credit Should I do it with a credit card? should i do it with a credit card Should I have a credit card at all? should i have a credit card at all I just got expense shocked with a $3,500 truck repair bill, and it couldn't have come at a worse time. i just got expense shocked with a $3,500 truck repair bill and it couldn't have come at a worse time They're asking questions like, what do I do when my financial account gets taken over? These are the customer problems that MoneyLion has been addressing for over a decade. And now with Jen, we get to accelerate our trajectory into being the de facto leader in consumer finance. Let's take a deeper look at our unrivaled secure financial wellness platform from a customer's perspective. First, we put a customer needs at the heart of our solution. They're asking questions like, what do I do when my financial account gets taken over? they're asking questions like what do i do when my financial account gets taken over These are the customer problems that MoneyLion has been addressing for over a decade. these are the customer problems that moneylion has been addressing for over a decade And now with Jen, we get to accelerate our trajectory into being the de facto leader in consumer finance. and now with jen we get to accelerate our trajectory into being the de facto leader in consumer finance Let's take a deeper look at our unrivaled secure financial wellness platform from a customer's perspective. let's take a deeper look at our unrivaled secure financial wellness platform from a customer's perspective First, we put a customer needs at the heart of our solution. first we put a customer needs at the heart of our solution We then take the data advantage that we have to be able to give a customer First, across MoneyLion's first party products. We help them being onboard into our PFM with budgeting, banking, investing, cash management and more. And then we take a customer's personalized position in life to help them choose products from our marketplace. So we authentically help them choose personal loans, insurance, mortgages, HELOCs and of course more. We then take the data advantage that we have to be able to give a customer we then take the data advantage that we have to be able to give a customer First, across MoneyLion's first party products. first across moneylion's first party products We help them being onboard into our PFM with budgeting, banking, investing, cash management and more. we help them being onboard into our pfm with budgeting banking investing cash management and more And then we take a customer's personalized position in life to help them choose products from our marketplace. and then we take a customer's personalized position in life to help them choose products from our marketplace So we authentically help them choose personal loans, insurance, mortgages, HELOCs and of course more. so we authentically help them choose personal loans insurance mortgages helocs and of course more Having our core first party products sit alongside our marketplace means that our customers get the best in class first party products and third party products. It's very similar to the way in which an Amazon Basics sits within the Amazon marketplace, the same way the Kirkland brands sit within the Costco marketplace. And what makes this even more unique is that this is now all underpinned with the foundation of trust. And so we can now help our customers manage and grow their finances online. With over 500,000,000 users globally and the leading trust solutions, joining Gen is a game changer for MoneyLion. Having our core first party products sit alongside our marketplace means that our customers get the best in class first party products and third party products. having our core first party products sit alongside our marketplace means that our customers get the best in class first party products and third party products It's very similar to the way in which an Amazon Basics sits within the Amazon marketplace, the same way the Kirkland brands sit within the Costco marketplace. it's very similar to the way in which an amazon basics sits within the amazon marketplace the same way the kirkland brands sit within the costco marketplace And what makes this even more unique is that this is now all underpinned with the foundation of trust. and what makes this even more unique is that this is now all underpinned with the foundation of trust And so we can now help our customers manage and grow their finances online. and so we can now help our customers manage and grow their finances online With over 500,000,000 users globally and the leading trust solutions, joining Gen is a game changer for MoneyLion. with over 500,000,000 users globally and the leading trust solutions joining gen is a game changer for moneylion Now you know what MoneyLion loves about Gen. What does Gen love about MoneyLion? Well, one, the breadth and depth of our team and our leading technology solution. Let's dig in. One question we get all the time is you talk about having so many products and features and offers and content. Now you know what MoneyLion loves about Gen. now you know what moneylion loves about gen What does Gen love about MoneyLion? what does gen love about moneylion Well, one, the breadth and depth of our team and our leading technology solution. well one the breadth and depth of our team and our leading technology solution Let's dig in. let's dig in One question we get all the time is you talk about having so many products and features and offers and content. one question we get all the time is you talk about having so many products and features and offers and content Is it all real? Well, I'll do an overview, and then I'll hand it over to our Head of Financial Wellness Technology, Tim Hong, who will do a deeper dive. And at the end, you will see it's more than real. It's unbelievable. What we do is we think about our platform in three buckets. Is it all real? is it all real Well, I'll do an overview, and then I'll hand it over to our Head of Financial Wellness Technology, Tim Hong, who will do a deeper dive. well i'll do an overview and then i'll hand it over to our head of financial wellness technology tim hong who will do a deeper dive And at the end, you will see it's more than real. and at the end you will see it's more than real It's unbelievable. it's unbelievable What we do is we think about our platform in three buckets. what we do is we think about our platform in three buckets The first is our PFM, the second is our proprietary products and then, of course, the marketplace. So let's start with the PFM. In order to create a highly engaging customer experience, we've created a combination of content, community and insights in the PFM. Our content feed is the equivalent of a TikTok or an Instagram feed, where we're serving up personalized budget ideas, different content, AI driven insights, our products and our offers, things across our entire platform. We also have AI search. The first is our PFM, the second is our proprietary products and then, of course, the marketplace. the first is our pfm the second is our proprietary products and then of course the marketplace So let's start with the PFM. so let's start with the pfm In order to create a highly engaging customer experience, we've created a combination of content, community and insights in the PFM. in order to create a highly engaging customer experience we've created a combination of content community and insights in the pfm Our content feed is the equivalent of a TikTok or an Instagram feed, where we're serving up personalized budget ideas, different content, AI driven insights, our products and our offers, things across our entire platform. our content feed is the equivalent of a tiktok or an instagram feed where we're serving up personalized budget ideas different content ai driven insights our products and our offers things across our entire platform We also have AI search. we also have ai search So it's a single context window into the entire platform. And what it does is it gives personalized offers and insights to an individual based on data that is not typically available in generic LLMs. We also have community services. We have our user generated content, news and commenting so that our users get to share their stories, success stories, challenges and hacks to help the entire community. And of course, leveraging our vast data sets, we have our AI driven personalized insights, giving product recommendations. So it's a single context window into the entire platform. so it's a single context window into the entire platform And what it does is it gives personalized offers and insights to an individual based on data that is not typically available in generic LLMs. and what it does is it gives personalized offers and insights to an individual based on data that is not typically available in generic llms We also have community services. we also have community services We have our user generated content, news and commenting so that our users get to share their stories, success stories, challenges and hacks to help the entire community. we have our user generated content news and commenting so that our users get to share their stories success stories challenges and hacks to help the entire community And of course, leveraging our vast data sets, we have our AI driven personalized insights, giving product recommendations. and of course leveraging our vast data sets we have our ai driven personalized insights giving product recommendations These content community and insights, think about them as the connective tissue. That's what we use to move our customers from that engaging experience into the core product and marketplace offers. So looking at our product suite, you can see that we cover the full spectrum of banking, cash management, borrowing, saving and investing. Tim is going to do a deep dive, as I said, on our product platform. But as a teaser, our product platform gives us the ability to meet the needs of the mass market. These content community and insights, think about them as the connective tissue. these content community and insights think about them as the connective tissue That's what we use to move our customers from that engaging experience into the core product and marketplace offers. that's what we use to move our customers from that engaging experience into the core product and marketplace offers So looking at our product suite, you can see that we cover the full spectrum of banking, cash management, borrowing, saving and investing. so looking at our product suite you can see that we cover the full spectrum of banking cash management borrowing saving and investing Tim is going to do a deep dive, as I said, on our product platform. tim is going to do a deep dive as i said on our product platform But as a teaser, our product platform gives us the ability to meet the needs of the mass market. but as a teaser our product platform gives us the ability to meet the needs of the mass market We can point our technology at any demographic by engaging creating engaging features with specific products and, of course, our marketplace. So now you can see why we are the most comprehensive and full featured product platform in the industry, and I've only scratched the surface on talking about our embedded finance technology. When we say we want to be the number one destination to help customers make their best financial decisions, that means we have to engage and be where the customers are thinking about those types of decisions. And we do that with our marketplace. The same technology that powers the MoneyLion branded consumer app and marketplace powers the embedded marketplace for our partners. We can point our technology at any demographic by engaging creating engaging features with specific products and, of course, our marketplace. we can point our technology at any demographic by engaging creating engaging features with specific products and of course our marketplace So now you can see why we are the most comprehensive and full featured product platform in the industry, and I've only scratched the surface on talking about our embedded finance technology. so now you can see why we are the most comprehensive and full featured product platform in the industry and i've only scratched the surface on talking about our embedded finance technology When we say we want to be the number one destination to help customers make their best financial decisions, that means we have to engage and be where the customers are thinking about those types of decisions. when we say we want to be the number one destination to help customers make their best financial decisions that means we have to engage and be where the customers are thinking about those types of decisions And we do that with our marketplace. and we do that with our marketplace The same technology that powers the MoneyLion branded consumer app and marketplace powers the embedded marketplace for our partners. the same technology that powers the moneylion branded consumer app and marketplace powers the embedded marketplace for our partners All of our technology, R and D and research and AI investments, we combine all of those to help our B2B partners. We have two clear sides of the marketplace. On the left, we have our channel partners. So these partners, we have over six fifty of them, and they are driving three fifty million high intent customer inquiries a year. On the right, we have our financial product sellers, again, over 600 product sellers. All of our technology, R and D and research and AI investments, we combine all of those to help our B2B partners. all of our technology r and d and research and ai investments we combine all of those to help our b2b partners We have two clear sides of the marketplace. we have two clear sides of the marketplace On the left, we have our channel partners. on the left we have our channel partners So these partners, we have over six fifty of them, and they are driving three fifty million high intent customer inquiries a year. so these partners we have over six fifty of them and they are driving three fifty million high intent customer inquiries a year On the right, we have our financial product sellers, again, over 600 product sellers. on the right we have our financial product sellers again over 600 product sellers These are our product partners covering over 30 different verticals. And importantly, they're looking to acquire customers from a channel that's unique and unavailable outside of our marketplace. And then in the middle is our leading marketplace. We branded it NGEN. On the surface, it's a matching algorithm, but its real value is the technology that underpins it. These are our product partners covering over 30 different verticals. these are our product partners covering over 30 different verticals And importantly, they're looking to acquire customers from a channel that's unique and unavailable outside of our marketplace. and importantly they're looking to acquire customers from a channel that's unique and unavailable outside of our marketplace And then in the middle is our leading marketplace. and then in the middle is our leading marketplace We branded it NGEN. we branded it ngen On the surface, it's a matching algorithm, but its real value is the technology that underpins it. on the surface it's a matching algorithm but its real value is the technology that underpins it I'll give you a couple of examples. Again, Tim, as you can hear, is the pro. He will go deeper on this. But we have things like Martech technology. And so we're able to have yield optimization and analytics that give real time feedback to our partners. I'll give you a couple of examples. i'll give you a couple of examples Again, Tim, as you can hear, is the pro. again tim as you can hear is the pro He will go deeper on this. he will go deeper on this But we have things like Martech technology. but we have things like martech technology And so we're able to have yield optimization and analytics that give real time feedback to our partners. and so we're able to have yield optimization and analytics that give real time feedback to our partners We do that through an enterprise client portal that we call ControlCenter. We have programmatic compliance. You can imagine that for all of our partners, the complexity of the regulatory environment that they operate in, it's paramount for us to have all of that compliance technology ready built within the platform. To give you an example, when Capital One wants to persist a dynamic pricing model across the Internet to take advantage of the one to many benefits of a marketplace, our engine solution is the clear winner within the industry. Another feature that we have is that we bring market leading technologies like checkout. We do that through an enterprise client portal that we call ControlCenter. we do that through an enterprise client portal that we call controlcenter We have programmatic compliance. we have programmatic compliance You can imagine that for all of our partners, the complexity of the regulatory environment that they operate in, it's paramount for us to have all of that compliance technology ready built within the platform. you can imagine that for all of our partners the complexity of the regulatory environment that they operate in it's paramount for us to have all of that compliance technology ready built within the platform To give you an example, when Capital One wants to persist a dynamic pricing model across the Internet to take advantage of the one to many benefits of a marketplace, our engine solution is the clear winner within the industry. to give you an example when capital one wants to persist a dynamic pricing model across the internet to take advantage of the one to many benefits of a marketplace our engine solution is the clear winner within the industry Another feature that we have is that we bring market leading technologies like checkout. another feature that we have is that we bring market leading technologies like checkout So when we think about the current state of consumer finance, it's a little bit like a flea market. You get routed everywhere every time you're looking for a financial product. What Checkout does is it allows us to improve the consumer experience by allowing them, once they've selected the product that they need, to be able to check out within the MoneyLion app. And that reduces the handoffs and the feeling of the flea market. Now what's increasingly powerful about the marketplace is that the more buyers we get, the more sellers that we get and vice versa. So when we think about the current state of consumer finance, it's a little bit like a flea market. so when we think about the current state of consumer finance it's a little bit like a flea market You get routed everywhere every time you're looking for a financial product. you get routed everywhere every time you're looking for a financial product What Checkout does is it allows us to improve the consumer experience by allowing them, once they've selected the product that they need, to be able to check out within the MoneyLion app. what checkout does is it allows us to improve the consumer experience by allowing them once they've selected the product that they need to be able to check out within the moneylion app And that reduces the handoffs and the feeling of the flea market. and that reduces the handoffs and the feeling of the flea market Now what's increasingly powerful about the marketplace is that the more buyers we get, the more sellers that we get and vice versa. now what's increasingly powerful about the marketplace is that the more buyers we get the more sellers that we get and vice versa It's a simple construct. But as we all know, in finance, liquidity begets liquidity. So what do our partners look like? Our marketplace, it's a mass market platform. And the logos you see here, it's just an example of some of the supply and demand partners that we have. It's a simple construct. it's a simple construct But as we all know, in finance, liquidity begets liquidity. but as we all know in finance liquidity begets liquidity So what do our partners look like? so what do our partners look like Our marketplace, it's a mass market platform. our marketplace it's a mass market platform And the logos you see here, it's just an example of some of the supply and demand partners that we have. and the logos you see here it's just an example of some of the supply and demand partners that we have But importantly, they cover the full spectrum of demographics, including income, age, family, homeowners versus renters, geographies and importantly, intent. On the left hand side, you'll see that we partner with mass media sites, with financial publishers and financial services providers. On the right, you'll see we cover all the verticals from personal loans through to credit cards, insurance and financial wellness. What's really important is to connect the dots and see that this is an important synergy between MoneyLion and Gen. With Gen's 500,000,000 users globally, the user base that we now have can increase the top of funnel all the way through to the broader demographics that we are looking to start penetrating. But importantly, they cover the full spectrum of demographics, including income, age, family, homeowners versus renters, geographies and importantly, intent. but importantly they cover the full spectrum of demographics including income age family homeowners versus renters geographies and importantly intent On the left hand side, you'll see that we partner with mass media sites, with financial publishers and financial services providers. on the left hand side you'll see that we partner with mass media sites with financial publishers and financial services providers On the right, you'll see we cover all the verticals from personal loans through to credit cards, insurance and financial wellness. on the right you'll see we cover all the verticals from personal loans through to credit cards insurance and financial wellness What's really important is to connect the dots and see that this is an important synergy between MoneyLion and Gen. what's really important is to connect the dots and see that this is an important synergy between moneylion and gen With Gen's 500,000,000 users globally, the user base that we now have can increase the top of funnel all the way through to the broader demographics that we are looking to start penetrating. with gen's 500,000,000 users globally the user base that we now have can increase the top of funnel all the way through to the broader demographics that we are looking to start penetrating We're going to continue expanding our catalogs, as we'll touch upon in a minute. What's important is that this platform, when we start to dig into our funnel, has tremendous conversion, revenue and profit opportunities. Let's take a look at the funnel. So we've really transformed the form factor of how consumers interact with their financial lives. We've done that by bringing content and media that resonates on more traditional social media and marketplace platforms, and we've brought all that into financial services. We're going to continue expanding our catalogs, as we'll touch upon in a minute. we're going to continue expanding our catalogs as we'll touch upon in a minute What's important is that this platform, when we start to dig into our funnel, has tremendous conversion, revenue and profit opportunities. what's important is that this platform when we start to dig into our funnel has tremendous conversion revenue and profit opportunities Let's take a look at the funnel. let's take a look at the funnel So we've really transformed the form factor of how consumers interact with their financial lives. so we've really transformed the form factor of how consumers interact with their financial lives We've done that by bringing content and media that resonates on more traditional social media and marketplace platforms, and we've brought all that into financial services. we've done that by bringing content and media that resonates on more traditional social media and marketplace platforms and we've brought all that into financial services And the result is this next generation ecosystem. And this is where we are able to drive those three fifty million top of funnel inquiries annually with a very low CAC. This creates a structural cost advantage relative to those partners who are solely relying on traditional paid digital media channels. This is, of course, supported by our strategic brand sponsorships, financial content creators and, of course, our organic traffic. As we shared last quarter, we have over 24,000,000 total Moneyline customers and about a third of them are active at any moment in time. And the result is this next generation ecosystem. and the result is this next generation ecosystem And this is where we are able to drive those three fifty million top of funnel inquiries annually with a very low CAC. and this is where we are able to drive those three fifty million top of funnel inquiries annually with a very low cac This creates a structural cost advantage relative to those partners who are solely relying on traditional paid digital media channels. this creates a structural cost advantage relative to those partners who are solely relying on traditional paid digital media channels This is, of course, supported by our strategic brand sponsorships, financial content creators and, of course, our organic traffic. this is of course supported by our strategic brand sponsorships financial content creators and of course our organic traffic As we shared last quarter, we have over 24,000,000 total Moneyline customers and about a third of them are active at any moment in time. as we shared last quarter we have over 24,000,000 total moneyline customers and about a third of them are active at any moment in time And as I mentioned, we then have tens of millions of users that we're able to life cycle to becoming active users. And they consume over 12,000,000 products on the platform over the last twelve months. You can imagine, of course, that this opportunity is massive in front of us from a top of funnel perspective as we think about the hundreds of millions of users that Jenn brings into the equation as we continue to do product enhancements, optimizations to continue to drive our revenue and profitability expansion. So we've talked a lot about our unique business model. We've talked about how we convert our customers. And as I mentioned, we then have tens of millions of users that we're able to life cycle to becoming active users. and as i mentioned we then have tens of millions of users that we're able to life cycle to becoming active users And they consume over 12,000,000 products on the platform over the last twelve months. and they consume over 12,000,000 products on the platform over the last twelve months You can imagine, of course, that this opportunity is massive in front of us from a top of funnel perspective as we think about the hundreds of millions of users that Jenn brings into the equation as we continue to do product enhancements, optimizations to continue to drive our revenue and profitability expansion. you can imagine of course that this opportunity is massive in front of us from a top of funnel perspective as we think about the hundreds of millions of users that jenn brings into the equation as we continue to do product enhancements optimizations to continue to drive our revenue and profitability expansion So we've talked a lot about our unique business model. so we've talked a lot about our unique business model We've talked about how we convert our customers. we've talked about how we convert our customers Let's dig into the economics. And I'm going to start by saying I absolutely love this slide. And I love it because it gives you an economic lens into our powerful flywheel. Each number represents a distinct acquisition channel and the corresponding contribution margin. This framework drives our revenue and our profitability scale. Let's dig into the economics. let's dig into the economics And I'm going to start by saying I absolutely love this slide. and i'm going to start by saying i absolutely love this slide And I love it because it gives you an economic lens into our powerful flywheel. and i love it because it gives you an economic lens into our powerful flywheel Each number represents a distinct acquisition channel and the corresponding contribution margin. each number represents a distinct acquisition channel and the corresponding contribution margin This framework drives our revenue and our profitability scale. this framework drives our revenue and our profitability scale So let's start with the 30% affiliate channel, the top. Recall the two sided marketplace that I had up with all the logos? When CNBC has a customer that comes into the platform and they get matched with a SoFi product or a Capital One product, those product partners, Capital One and SoFi, pay us on average. We will retain about 30% of the fee that they will pay us, and then we will give the rest to our channel partner based on a revenue share agreement that we have with them, and hence, the 30% contribution margin. So those are decent economics, but that's just the tip of the spear. So let's start with the 30% affiliate channel, the top. so let's start with the 30% affiliate channel the top Recall the two sided marketplace that I had up with all the logos? recall the two sided marketplace that i had up with all the logos When CNBC has a customer that comes into the platform and they get matched with a SoFi product or a Capital One product, those product partners, Capital One and SoFi, pay us on average. when cnbc has a customer that comes into the platform and they get matched with a sofi product or a capital one product those product partners capital one and sofi pay us on average We will retain about 30% of the fee that they will pay us, and then we will give the rest to our channel partner based on a revenue share agreement that we have with them, and hence, the 30% contribution margin. we will retain about 30% of the fee that they will pay us and then we will give the rest to our channel partner based on a revenue share agreement that we have with them and hence the 30% contribution margin So those are decent economics, but that's just the tip of the spear. so those are decent economics but that's just the tip of the spear Let's take a look at the 60% margin channel. So when a customer comes in and they take Moneyline's first party products, so our bank offering, our cash management offerings, investing, etcetera, we have over a 60% contribution margin. And so that's why it's really strategically important for Moneyline to continue to build best in class products as we continue to bring customers into those first party products. What's also very important is when a MoneyLion customer, meaning someone who is in MoneyLion's first party products, then transacts into the marketplace, we earn a 90% contribution margin because there is no revenue share. MoneyLion is supplying the customer. Let's take a look at the 60% margin channel. let's take a look at the 60% margin channel So when a customer comes in and they take Moneyline's first party products, so our bank offering, our cash management offerings, investing, etcetera, we have over a 60% contribution margin. so when a customer comes in and they take moneyline's first party products so our bank offering our cash management offerings investing etcetera we have over a 60% contribution margin And so that's why it's really strategically important for Moneyline to continue to build best in class products as we continue to bring customers into those first party products. and so that's why it's really strategically important for moneyline to continue to build best in class products as we continue to bring customers into those first party products What's also very important is when a MoneyLion customer, meaning someone who is in MoneyLion's first party products, then transacts into the marketplace, we earn a 90% contribution margin because there is no revenue share. what's also very important is when a moneylion customer meaning someone who is in moneylion's first party products then transacts into the marketplace we earn a 90% contribution margin because there is no revenue share MoneyLion is supplying the customer. moneylion is supplying the customer Importantly, the three fifty million inquiries that I keep talking about, that creates a significant pool of marketplace users for us to be able to retarget, also generating a 90% contribution margin. Now that bottom right bucket, it's the fastest growing part of our business today. Therefore, our direct to consumer brand investments, combined with life cycling customers within our overall consumer marketplace, is a strategically important initiative for us because it allows us to increase revenue, take market share. And as you can see on the right, this allows us to be able to expand our overall margin profile. And we've seen this business equation playing out successfully and quantitatively every single quarter for the last several years. Importantly, the three fifty million inquiries that I keep talking about, that creates a significant pool of marketplace users for us to be able to retarget, also generating a 90% contribution margin. importantly the three fifty million inquiries that i keep talking about that creates a significant pool of marketplace users for us to be able to retarget also generating a 90% contribution margin Now that bottom right bucket, it's the fastest growing part of our business today. now that bottom right bucket it's the fastest growing part of our business today Therefore, our direct to consumer brand investments, combined with life cycling customers within our overall consumer marketplace, is a strategically important initiative for us because it allows us to increase revenue, take market share. therefore our direct to consumer brand investments combined with life cycling customers within our overall consumer marketplace is a strategically important initiative for us because it allows us to increase revenue take market share And as you can see on the right, this allows us to be able to expand our overall margin profile. and as you can see on the right this allows us to be able to expand our overall margin profile And we've seen this business equation playing out successfully and quantitatively every single quarter for the last several years. and we've seen this business equation playing out successfully and quantitatively every single quarter for the last several years So we've been talking about our powerful business model. We've been talking about our customers and how we serve them and even the economics. But are our customers sticky? What this chart will show you is the answer to that is a resounding yes. Our customers get leading first party products, and then we help them choose their marketplace products. So we've been talking about our powerful business model. so we've been talking about our powerful business model We've been talking about our customers and how we serve them and even the economics. we've been talking about our customers and how we serve them and even the economics But are our customers sticky? but are our customers sticky What this chart will show you is the answer to that is a resounding yes. what this chart will show you is the answer to that is a resounding yes Our customers get leading first party products, and then we help them choose their marketplace products. our customers get leading first party products and then we help them choose their marketplace products Or they start with a marketplace offer and then we cross sell them into our first party products. Either way, we are driving and expanding our lifetime value. So what this chart shows you is that we generate an overwhelming amount of our revenue from repeat customers. In fact, over 80% of our revenue comes from our historical cohorts. Another critical reason for us to continue investing in best in class first party products, increasing our top of funnel and increasing our products per partner, which is all accelerated with Gen. Or they start with a marketplace offer and then we cross sell them into our first party products. or they start with a marketplace offer and then we cross sell them into our first party products Either way, we are driving and expanding our lifetime value. either way we are driving and expanding our lifetime value So what this chart shows you is that we generate an overwhelming amount of our revenue from repeat customers. so what this chart shows you is that we generate an overwhelming amount of our revenue from repeat customers In fact, over 80% of our revenue comes from our historical cohorts. in fact over 80% of our revenue comes from our historical cohorts Another critical reason for us to continue investing in best in class first party products, increasing our top of funnel and increasing our products per partner, which is all accelerated with Gen. another critical reason for us to continue investing in best in class first party products increasing our top of funnel and increasing our products per partner which is all accelerated with gen So I've been waxing on for a little bit now. But what's crazy is, after everything we've said, we're just getting started. We have many growth vectors that allows Moneyline to continue driving growth over the long term. Initiatives like expansion into new market verticals, deepening those verticals, pointing the entire machinery at new demographics, all while amplifying the business using AI where we have been pioneers for ten years. We are building a long term durable engine for high quality growth. So I've been waxing on for a little bit now. so i've been waxing on for a little bit now But what's crazy is, after everything we've said, we're just getting started. but what's crazy is after everything we've said we're just getting started We have many growth vectors that allows Moneyline to continue driving growth over the long term. we have many growth vectors that allows moneyline to continue driving growth over the long term Initiatives like expansion into new market verticals, deepening those verticals, pointing the entire machinery at new demographics, all while amplifying the business using AI where we have been pioneers for ten years. initiatives like expansion into new market verticals deepening those verticals pointing the entire machinery at new demographics all while amplifying the business using ai where we have been pioneers for ten years We are building a long term durable engine for high quality growth. we are building a long term durable engine for high quality growth That makes this a pivotal moment, not just for MoneyLion, but for consumer finance because Jen is raising the bar. With the emergence of secure financial wellness, we're not only deepening trust and broadening our reach, we're actually, as a combined firm, unlocking new ways to serve, engage and empower our customers. I'm going to pause there, and I'm going to hand it over to Tim Hong, who is our Head of Financial Wellness Technology, and he's been one of my partners for over ten years. Thank you. That makes this a pivotal moment, not just for MoneyLion, but for consumer finance because Jen is raising the bar. that makes this a pivotal moment not just for moneylion but for consumer finance because jen is raising the bar With the emergence of secure financial wellness, we're not only deepening trust and broadening our reach, we're actually, as a combined firm, unlocking new ways to serve, engage and empower our customers. with the emergence of secure financial wellness we're not only deepening trust and broadening our reach we're actually as a combined firm unlocking new ways to serve engage and empower our customers I'm going to pause there, and I'm going to hand it over to Tim Hong, who is our Head of Financial Wellness Technology, and he's been one of my partners for over ten years. i'm going to pause there and i'm going to hand it over to tim hong who is our head of financial wellness technology and he's been one of my partners for over ten years Thank you. thank you

Speaker 4: Hi, everyone. I'm excited to be here today to talk about our financial wellness technology platform, which, of course, powers MoneyLion's app and business that you just saw from Rick, but also for those hundreds of partners, but also now Gen. So our technology has been a ten plus year investment built on a modern scalable stack. For us, data and personalization are at its core. This first party data includes credit data, such as credit scores and credit reports financial data, like bank transaction data, but also things like behaviors. Hi, everyone. hi everyone I'm excited to be here today to talk about our financial wellness technology platform, which, of course, powers MoneyLion's app and business that you just saw from Rick, but also for those hundreds of partners, but also now Gen. i'm excited to be here today to talk about our financial wellness technology platform which of course powers moneylion's app and business that you just saw from rick but also for those hundreds of partners but also now gen So our technology has been a ten plus year investment built on a modern scalable stack. so our technology has been a ten plus year investment built on a modern scalable stack For us, data and personalization are at its core. for us data and personalization are at its core This first party data includes credit data, such as credit scores and credit reports financial data, like bank transaction data, but also things like behaviors. this first party data includes credit data such as credit scores and credit reports financial data like bank transaction data but also things like behaviors This data enables advice, transactions and that two sided marketplace that Rick went over. For us, this is the foundation for building personalized experiences that are valuable to the consumer. And this foundation is proven and really built for the AI age. Every year, our models output billions of predictions. These are things like data enrichments, rankings, recommendations, all to create the kind of user experiences that consumers expect in this day and age. This data enables advice, transactions and that two sided marketplace that Rick went over. this data enables advice transactions and that two sided marketplace that rick went over For us, this is the foundation for building personalized experiences that are valuable to the consumer. for us this is the foundation for building personalized experiences that are valuable to the consumer And this foundation is proven and really built for the AI age. and this foundation is proven and really built for the ai age Every year, our models output billions of predictions. every year our models output billions of predictions These are things like data enrichments, rankings, recommendations, all to create the kind of user experiences that consumers expect in this day and age. these are things like data enrichments rankings recommendations all to create the kind of user experiences that consumers expect in this day and age And now, of course, we're unlocking new capabilities with generative AI. And so as Rick mentioned, scale matters in financial services. Our unique business model that not only operates owned and operated brands but also enables and empowers partners to reach their consumers really gives us a differentiated distribution and data advantage. And so everything you'll see here today is a MoneyLion example. We wanted, of course, to show you some of the app and the experiences there. And now, of course, we're unlocking new capabilities with generative AI. and now of course we're unlocking new capabilities with generative ai And so as Rick mentioned, scale matters in financial services. and so as rick mentioned scale matters in financial services Our unique business model that not only operates owned and operated brands but also enables and empowers partners to reach their consumers really gives us a differentiated distribution and data advantage. our unique business model that not only operates owned and operated brands but also enables and empowers partners to reach their consumers really gives us a differentiated distribution and data advantage And so everything you'll see here today is a MoneyLion example. and so everything you'll see here today is a moneylion example We wanted, of course, to show you some of the app and the experiences there. we wanted of course to show you some of the app and the experiences there But I want you to keep in mind that everything here is a platform. It's something that can be embedded exactly where the consumer makes those decisions. And in that sense, our technology is built for any segment, whether it's a mass affluent segment, the underbanked or even in particular channels like employee benefits. And so it's really built to succeed with any segment, including that 500,000,000 gen users. So let's start with financial products. But I want you to keep in mind that everything here is a platform. but i want you to keep in mind that everything here is a platform It's something that can be embedded exactly where the consumer makes those decisions. it's something that can be embedded exactly where the consumer makes those decisions And in that sense, our technology is built for any segment, whether it's a mass affluent segment, the underbanked or even in particular channels like employee benefits. and in that sense our technology is built for any segment whether it's a mass affluent segment the underbanked or even in particular channels like employee benefits And so it's really built to succeed with any segment, including that 500,000,000 gen users. and so it's really built to succeed with any segment including that 500,000,000 gen users So let's start with financial products. so let's start with financial products We'll give you a peek into how we've built and designed these powerful capabilities. So our highly differentiated financial products are built on advanced payment and money movement capabilities. So this is throughout the entire customer journey that has benefits for both the consumer as well as our capabilities. What this means, though, is that we have products for in times of excess and in times of need. Every customer journey is unique and oftentimes challenging. We'll give you a peek into how we've built and designed these powerful capabilities. we'll give you a peek into how we've built and designed these powerful capabilities So our highly differentiated financial products are built on advanced payment and money movement capabilities. so our highly differentiated financial products are built on advanced payment and money movement capabilities So this is throughout the entire customer journey that has benefits for both the consumer as well as our capabilities. so this is throughout the entire customer journey that has benefits for both the consumer as well as our capabilities What this means, though, is that we have products for in times of excess and in times of need. what this means though is that we have products for in times of excess and in times of need Every customer journey is unique and oftentimes challenging. every customer journey is unique and oftentimes challenging Even in times of excess, it can be difficult to figure out where to say what to do with this money you've saved. In times of excess excuse me, in times of need, it's particularly challenging and stressful. And so our products around credit building and cash management help those customers as well. So let's start with our depository products. So first up is the Moneyline debit card and checking account. Even in times of excess, it can be difficult to figure out where to say what to do with this money you've saved. even in times of excess it can be difficult to figure out where to say what to do with this money you've saved In times of excess excuse me, in times of need, it's particularly challenging and stressful. in times of excess excuse me in times of need it's particularly challenging and stressful And so our products around credit building and cash management help those customers as well. and so our products around credit building and cash management help those customers as well So let's start with our depository products. so let's start with our depository products So first up is the Moneyline debit card and checking account. so first up is the moneyline debit card and checking account It's a full featured FDIC insured bank account with more ATMs than Chase, Wells Fargo and Bank of America combined, has no monthly fees and a cash back program our customers love. With it, customers can receive their paychecks up to two days early, so I get paid on a Wednesday and a Friday instead of a Friday, that's nice, as well as being able to use that card wherever Mastercard is accepted and more. This puts us at the center of our customers' financial lives. In a lot of ways, the paycheck is the heartbeat of financial lives, and our checking account enables our customers to manage their bills, transfer money, earn rewards and more. We also offer managed investment accounts. It's a full featured FDIC insured bank account with more ATMs than Chase, Wells Fargo and Bank of America combined, has no monthly fees and a cash back program our customers love. it's a full featured fdic insured bank account with more atms than chase wells fargo and bank of america combined has no monthly fees and a cash back program our customers love With it, customers can receive their paychecks up to two days early, so I get paid on a Wednesday and a Friday instead of a Friday, that's nice, as well as being able to use that card wherever Mastercard is accepted and more. with it customers can receive their paychecks up to two days early so i get paid on a wednesday and a friday instead of a friday that's nice as well as being able to use that card wherever mastercard is accepted and more This puts us at the center of our customers' financial lives. this puts us at the center of our customers' financial lives In a lot of ways, the paycheck is the heartbeat of financial lives, and our checking account enables our customers to manage their bills, transfer money, earn rewards and more. in a lot of ways the paycheck is the heartbeat of financial lives and our checking account enables our customers to manage their bills transfer money earn rewards and more We also offer managed investment accounts. we also offer managed investment accounts These are capabilities to build wealth and save for the future. Here, Moneyline serves as the registered investment adviser, recommending customized portfolios based on the consumer's risk profile and preferences. So here, I'm showing you our managed investment account where consumers can view their balances, add and withdraw money, take a look at their portfolio that we've customized for them across those diverse low cost ETFs. Of course, someone can set up roundups where with just a few taps, I can choose that with every purchase, I can round up that transaction and make a micro investment in our managed investment account. So these kind of capabilities where someone can very quickly and easily set up recurring automated deposits really empower the consumer to get started. These are capabilities to build wealth and save for the future. these are capabilities to build wealth and save for the future Here, Moneyline serves as the registered investment adviser, recommending customized portfolios based on the consumer's risk profile and preferences. here moneyline serves as the registered investment adviser recommending customized portfolios based on the consumer's risk profile and preferences So here, I'm showing you our managed investment account where consumers can view their balances, add and withdraw money, take a look at their portfolio that we've customized for them across those diverse low cost ETFs. so here i'm showing you our managed investment account where consumers can view their balances add and withdraw money take a look at their portfolio that we've customized for them across those diverse low cost etfs Of course, someone can set up roundups where with just a few taps, I can choose that with every purchase, I can round up that transaction and make a micro investment in our managed investment account. of course someone can set up roundups where with just a few taps i can choose that with every purchase i can round up that transaction and make a micro investment in our managed investment account So these kind of capabilities where someone can very quickly and easily set up recurring automated deposits really empower the consumer to get started. so these kind of capabilities where someone can very quickly and easily set up recurring automated deposits really empower the consumer to get started So just like that, someone started rounding up their transactions into their investment account. So just think about it. Over 60% of Americans don't invest beyond their retirement accounts. Moneyline is democratizing access to these kind of tools. We also offer active investing, where customers can trade individual stocks and ETFs with the same ease of use, automated tools like roundups as well as the tight integration with the rest of our portfolio. So just like that, someone started rounding up their transactions into their investment account. so just like that someone started rounding up their transactions into their investment account So just think about it. so just think about it Over 60% of Americans don't invest beyond their retirement accounts. over 60% of americans don't invest beyond their retirement accounts Moneyline is democratizing access to these kind of tools. moneyline is democratizing access to these kind of tools We also offer active investing, where customers can trade individual stocks and ETFs with the same ease of use, automated tools like roundups as well as the tight integration with the rest of our portfolio. we also offer active investing where customers can trade individual stocks and etfs with the same ease of use automated tools like roundups as well as the tight integration with the rest of our portfolio Here, in our active investment account, customers, again, can see their balance, their holdings, but also participate in a vibrant community where they're quizzed and can learn more about what's happening in the markets today. And in just a few seconds, take a look at an individual stock like Tesla, see how it's performed over the last year and then other mechanisms to engage, such as, let's say, if I invested a week ago, how might have my investment have done or even a year ago? And of course, because it's integrated into our payment and money movement capabilities, in just a few taps, I can select to buy a fractional share of $502,500 or more and with one swipe, be able to become an owner for the first time. So these kind of capabilities are incredibly powerful for those who are just entering the investment landscape, but also, frankly, for many, many others that are looking to up their game in terms of their investment capabilities. All of these depository products, banking, managed investing, active investing, are holistically presented and customers are given advice about those products in real time. Here, in our active investment account, customers, again, can see their balance, their holdings, but also participate in a vibrant community where they're quizzed and can learn more about what's happening in the markets today. here in our active investment account customers again can see their balance their holdings but also participate in a vibrant community where they're quizzed and can learn more about what's happening in the markets today And in just a few seconds, take a look at an individual stock like Tesla, see how it's performed over the last year and then other mechanisms to engage, such as, let's say, if I invested a week ago, how might have my investment have done or even a year ago? and in just a few seconds take a look at an individual stock like tesla see how it's performed over the last year and then other mechanisms to engage such as let's say if i invested a week ago how might have my investment have done or even a year ago And of course, because it's integrated into our payment and money movement capabilities, in just a few taps, I can select to buy a fractional share of $502,500 or more and with one swipe, be able to become an owner for the first time. and of course because it's integrated into our payment and money movement capabilities in just a few taps i can select to buy a fractional share of $502,500 or more and with one swipe be able to become an owner for the first time So these kind of capabilities are incredibly powerful for those who are just entering the investment landscape, but also, frankly, for many, many others that are looking to up their game in terms of their investment capabilities. so these kind of capabilities are incredibly powerful for those who are just entering the investment landscape but also frankly for many many others that are looking to up their game in terms of their investment capabilities All of these depository products, banking, managed investing, active investing, are holistically presented and customers are given advice about those products in real time. all of these depository products banking managed investing active investing are holistically presented and customers are given advice about those products in real time So let's talk about our products for in times of need. These are cash management solutions as well as credit products. So first up is InstaCash. This is our industry leading earned wage access product. So I want you to imagine if you were just hit by an unexpected bill on a Tuesday, but you don't have enough funds and you're not paid until Friday. So let's talk about our products for in times of need. so let's talk about our products for in times of need These are cash management solutions as well as credit products. these are cash management solutions as well as credit products So first up is InstaCash. so first up is instacash This is our industry leading earned wage access product. this is our industry leading earned wage access product So I want you to imagine if you were just hit by an unexpected bill on a Tuesday, but you don't have enough funds and you're not paid until Friday. so i want you to imagine if you were just hit by an unexpected bill on a tuesday but you don't have enough funds and you're not paid until friday What do you do? Unfortunately, for over 50% of Americans, this is a situation that's filled with stress and oftentimes hefty fees. With Instacash, it's problem solved. So in just a few seconds, a customer can request their Instacash balance, whether it's $100 $200 $300 or more, and they can receive funds next business day with no fees or instantly with a small expedited fee. And just like that, those funds have been deposited into the account of their choosing, but especially our checking accounts. What do you do? what do you do Unfortunately, for over 50% of Americans, this is a situation that's filled with stress and oftentimes hefty fees. unfortunately for over 50% of americans this is a situation that's filled with stress and oftentimes hefty fees With Instacash, it's problem solved. with instacash it's problem solved So in just a few seconds, a customer can request their Instacash balance, whether it's $100 $200 $300 or more, and they can receive funds next business day with no fees or instantly with a small expedited fee. so in just a few seconds a customer can request their instacash balance whether it's $100 $200 $300 or more and they can receive funds next business day with no fees or instantly with a small expedited fee And just like that, those funds have been deposited into the account of their choosing, but especially our checking accounts. and just like that those funds have been deposited into the account of their choosing but especially our checking accounts And so just like that, the customer can then pay for that product, repay us, excuse me, at their next paycheck. And Instacash is a 0% APR product, so there's no additional fees. So this is a simple product for our users, giving them access to those kind of problem solving tools to be able to manage their cash more effectively. But it incorporates over ten plus years of AI machine learning models as well as payment intelligence that we've baked into our ecosystem. So this includes algorithms to instantly qualify customers for Instacash. And so just like that, the customer can then pay for that product, repay us, excuse me, at their next paycheck. and so just like that the customer can then pay for that product repay us excuse me at their next paycheck And Instacash is a 0% APR product, so there's no additional fees. and instacash is a 0% apr product so there's no additional fees So this is a simple product for our users, giving them access to those kind of problem solving tools to be able to manage their cash more effectively. so this is a simple product for our users giving them access to those kind of problem solving tools to be able to manage their cash more effectively But it incorporates over ten plus years of AI machine learning models as well as payment intelligence that we've baked into our ecosystem. but it incorporates over ten plus years of ai machine learning models as well as payment intelligence that we've baked into our ecosystem So this includes algorithms to instantly qualify customers for Instacash. so this includes algorithms to instantly qualify customers for instacash It includes algorithms to predict and identify paychecks. We ensure that we don't overextend users, and we also reward users with high good users with higher limits. Our payments intelligence also correctly and intelligently routes payments across ACH, debit card, RTP and internal rails to ensure that payments get sent to the user quickly, cost effectively and reliably. So the result is transformative. An overwhelming number of users indicate that they're better able to take care of their family and themselves with Instacash. It includes algorithms to predict and identify paychecks. it includes algorithms to predict and identify paychecks We ensure that we don't overextend users, and we also reward users with high good users with higher limits. we ensure that we don't overextend users and we also reward users with high good users with higher limits Our payments intelligence also correctly and intelligently routes payments across ACH, debit card, RTP and internal rails to ensure that payments get sent to the user quickly, cost effectively and reliably. our payments intelligence also correctly and intelligently routes payments across ach debit card rtp and internal rails to ensure that payments get sent to the user quickly cost effectively and reliably So the result is transformative. so the result is transformative An overwhelming number of users indicate that they're better able to take care of their family and themselves with Instacash. an overwhelming number of users indicate that they're better able to take care of their family and themselves with instacash This puts them in control for the first time. It also helps them avoid costly $35 overdraft fees charged by the big banks, late fees on bills as well as more expensive forms of credit. So all of these come together to create an NPS score, a leading NPS score of 64. The other often common problem that we're solving for our customers is credit building. Now if you have a whether you have a credit score in the 500s, 600s, 700s or more, good credit scores unlock the American dream. This puts them in control for the first time. this puts them in control for the first time It also helps them avoid costly $35 overdraft fees charged by the big banks, late fees on bills as well as more expensive forms of credit. it also helps them avoid costly $35 overdraft fees charged by the big banks late fees on bills as well as more expensive forms of credit So all of these come together to create an NPS score, a leading NPS score of 64. so all of these come together to create an nps score a leading nps score of 64 The other often common problem that we're solving for our customers is credit building. the other often common problem that we're solving for our customers is credit building Now if you have a whether you have a credit score in the 500s, 600s, 700s or more, good credit scores unlock the American dream. now if you have a whether you have a credit score in the 500s 600s 700s or more good credit scores unlock the american dream They enable you to achieve financial goals like buying a house, a car and making sure that you don't pay too much in interest. And so Moneyline provides step by step programs to build credit. This includes access to secured credit builder loans. These are reported to all three bureaus. And for probably the only place in the industry, being able to earn rewards for financial wellness. They enable you to achieve financial goals like buying a house, a car and making sure that you don't pay too much in interest. they enable you to achieve financial goals like buying a house a car and making sure that you don't pay too much in interest And so Moneyline provides step by step programs to build credit. and so moneyline provides step by step programs to build credit This includes access to secured credit builder loans. this includes access to secured credit builder loans These are reported to all three bureaus. these are reported to all three bureaus And for probably the only place in the industry, being able to earn rewards for financial wellness. and for probably the only place in the industry being able to earn rewards for financial wellness So just imagine, have you ever been rewarded for financial wellness? Certainly not by your banks. As Rick mentioned, we have a holistic library of financial wellness content, and we deliver that to our customers here to enable them to take those steps on their journey to better credit. The result is this holistic approach that includes financial products, insights, content and more is that our customers raise their credit score by 25 points or more within sixty days. So altogether, our financial products unlock incredible engagement and achievement of financial goals across the entire life cycle of the customer. So just imagine, have you ever been rewarded for financial wellness? so just imagine have you ever been rewarded for financial wellness Certainly not by your banks. certainly not by your banks As Rick mentioned, we have a holistic library of financial wellness content, and we deliver that to our customers here to enable them to take those steps on their journey to better credit. as rick mentioned we have a holistic library of financial wellness content and we deliver that to our customers here to enable them to take those steps on their journey to better credit The result is this holistic approach that includes financial products, insights, content and more is that our customers raise their credit score by 25 points or more within sixty days. the result is this holistic approach that includes financial products insights content and more is that our customers raise their credit score by 25 points or more within sixty days So altogether, our financial products unlock incredible engagement and achievement of financial goals across the entire life cycle of the customer. so altogether our financial products unlock incredible engagement and achievement of financial goals across the entire life cycle of the customer Rick mentioned how we retain our customers, and that's because we have this holistic portfolio that spans every need within the consumer's mindset. This comprehensive approach is also something we're thinking about how can we bring to gen brands like LifeLock, Norton and Avast. All right. So let's talk about our second pillar, embedded marketplaces. As we mentioned, this allows customers to take action on their needs, especially when we may not offer financial products in that area. Rick mentioned how we retain our customers, and that's because we have this holistic portfolio that spans every need within the consumer's mindset. rick mentioned how we retain our customers and that's because we have this holistic portfolio that spans every need within the consumer's mindset This comprehensive approach is also something we're thinking about how can we bring to gen brands like LifeLock, Norton and Avast. this comprehensive approach is also something we're thinking about how can we bring to gen brands like lifelock norton and avast All right. all right So let's talk about our second pillar, embedded marketplaces. so let's talk about our second pillar embedded marketplaces As we mentioned, this allows customers to take action on their needs, especially when we may not offer financial products in that area. as we mentioned this allows customers to take action on their needs especially when we may not offer financial products in that area These are fundamentally data enabled experiences. What do we mean by that? So financial products are extraordinarily unique in e commerce in that the consumer picks the product, but the product has to pick the consumer as well through underwriting or other rules. So what that means is that too often, this feels like the flea market that Rick mentioned or the DMV where you're being passed from desk to desk. So just try shopping for a mortgage online as an example. These are fundamentally data enabled experiences. these are fundamentally data enabled experiences What do we mean by that? what do we mean by that So financial products are extraordinarily unique in e commerce in that the consumer picks the product, but the product has to pick the consumer as well through underwriting or other rules. so financial products are extraordinarily unique in e commerce in that the consumer picks the product but the product has to pick the consumer as well through underwriting or other rules So what that means is that too often, this feels like the flea market that Rick mentioned or the DMV where you're being passed from desk to desk. so what that means is that too often this feels like the flea market that rick mentioned or the dmv where you're being passed from desk to desk So just try shopping for a mortgage online as an example. so just try shopping for a mortgage online as an example As soon as you submit your application, you'll receive dozens of phone calls and brokers contacting you. It's not the digital first personalized experience built for convenience and control. And so we operate in 30 plus verticals, including credit cards, personal loans and high yield savings. Those are incredibly powerful for our consumers to meet any financial goal. So within the Moneyline app, this is one example around our savings calculator, where our marketplaces and our intelligence are seamlessly integrated with the app experience. As soon as you submit your application, you'll receive dozens of phone calls and brokers contacting you. as soon as you submit your application you'll receive dozens of phone calls and brokers contacting you It's not the digital first personalized experience built for convenience and control. it's not the digital first personalized experience built for convenience and control And so we operate in 30 plus verticals, including credit cards, personal loans and high yield savings. and so we operate in 30 plus verticals including credit cards personal loans and high yield savings Those are incredibly powerful for our consumers to meet any financial goal. those are incredibly powerful for our consumers to meet any financial goal So within the Moneyline app, this is one example around our savings calculator, where our marketplaces and our intelligence are seamlessly integrated with the app experience. so within the moneyline app this is one example around our savings calculator where our marketplaces and our intelligence are seamlessly integrated with the app experience So someone can take a look at their savings calculator, an interactive way to see how much they would have earned. And of course, when someone clicks to go in, these are connected to our marketplaces, where there's real time APY rates provided directly by the financial product providers. And so these financial product providers compete for our consumers' business. This also extends to personal loans, where our rich data sets allow us to do even more powerful matching. So someone can select how much what kind of loan they would like, answer a few questions that help us match their needs more effectively with the financial product. So someone can take a look at their savings calculator, an interactive way to see how much they would have earned. so someone can take a look at their savings calculator an interactive way to see how much they would have earned And of course, when someone clicks to go in, these are connected to our marketplaces, where there's real time APY rates provided directly by the financial product providers. and of course when someone clicks to go in these are connected to our marketplaces where there's real time apy rates provided directly by the financial product providers And so these financial product providers compete for our consumers' business. and so these financial product providers compete for our consumers' business This also extends to personal loans, where our rich data sets allow us to do even more powerful matching. this also extends to personal loans where our rich data sets allow us to do even more powerful matching So someone can select how much what kind of loan they would like, answer a few questions that help us match their needs more effectively with the financial product. so someone can select how much what kind of loan they would like answer a few questions that help us match their needs more effectively with the financial product And because we already have that user's personal information, we're able to securely opt them in to seeing their personalized offers. So just like that, a customer is able to compare loans from different companies, and these are preapproved offers that they can then choose and check out with. These use the same APIs that we offer our partners. So just like Amazon uses the APIs of AWS, hundreds of our partners use our APIs, embeds and SDKs to be able to deliver the experience they want to the market segment that they're targeting. And so they also use our matching and monetization engines. And because we already have that user's personal information, we're able to securely opt them in to seeing their personalized offers. and because we already have that user's personal information we're able to securely opt them in to seeing their personalized offers So just like that, a customer is able to compare loans from different companies, and these are preapproved offers that they can then choose and check out with. so just like that a customer is able to compare loans from different companies and these are preapproved offers that they can then choose and check out with These use the same APIs that we offer our partners. these use the same apis that we offer our partners So just like Amazon uses the APIs of AWS, hundreds of our partners use our APIs, embeds and SDKs to be able to deliver the experience they want to the market segment that they're targeting. so just like amazon uses the apis of aws hundreds of our partners use our apis embeds and sdks to be able to deliver the experience they want to the market segment that they're targeting And so they also use our matching and monetization engines. and so they also use our matching and monetization engines These are critical aspects for how we can use our scale to create differentiation. So brands like SoFi, Experian, Chime, CNBC and more all utilize our technology to be able to match with their customers. So one example, for instance, in this long tail of partners is a home improvement contractor marketplace. This is a marketplace where consumers can put in their home improvement project and see which contractors and get bids from those contractors. Now that contractor marketplace has also integrated our personal loans marketplace so we can meet the customer at time of need, at time of intent and at time of decision with the products they need. These are critical aspects for how we can use our scale to create differentiation. these are critical aspects for how we can use our scale to create differentiation So brands like SoFi, Experian, Chime, CNBC and more all utilize our technology to be able to match with their customers. so brands like sofi experian chime cnbc and more all utilize our technology to be able to match with their customers So one example, for instance, in this long tail of partners is a home improvement contractor marketplace. so one example for instance in this long tail of partners is a home improvement contractor marketplace This is a marketplace where consumers can put in their home improvement project and see which contractors and get bids from those contractors. this is a marketplace where consumers can put in their home improvement project and see which contractors and get bids from those contractors Now that contractor marketplace has also integrated our personal loans marketplace so we can meet the customer at time of need, at time of intent and at time of decision with the products they need. now that contractor marketplace has also integrated our personal loans marketplace so we can meet the customer at time of need at time of intent and at time of decision with the products they need So this is an example of the kind of integration where we're meeting the customer where they're making that decision. It's an incredibly powerful business model because, again, we're driving that three fifty million inquiries every year through our marketplace using this technique. And so that scale really gives us the differentiation. The scale of our data improves our monetization engines. That improvement drives more partners to our marketplace, and we get more scale and the flywheel of scale keeps going on. So this is an example of the kind of integration where we're meeting the customer where they're making that decision. so this is an example of the kind of integration where we're meeting the customer where they're making that decision It's an incredibly powerful business model because, again, we're driving that three fifty million inquiries every year through our marketplace using this technique. it's an incredibly powerful business model because again we're driving that three fifty million inquiries every year through our marketplace using this technique And so that scale really gives us the differentiation. and so that scale really gives us the differentiation The scale of our data improves our monetization engines. the scale of our data improves our monetization engines That improvement drives more partners to our marketplace, and we get more scale and the flywheel of scale keeps going on. that improvement drives more partners to our marketplace and we get more scale and the flywheel of scale keeps going on Already, hundreds of partners in the last few years have joined our platform so that they can achieve their business goals as well. And now I'm incredibly excited, too, about being able to power AI experiences. Now typically, an LLM is effectively scraping the Internet for products, offers and the specifics. But with our APIs, of course, they can get directly connected to those APRs, those APIs, those financial products and be able to provide action for those customers those consumers as well. I'll have a little bit more on this later in the slides. Already, hundreds of partners in the last few years have joined our platform so that they can achieve their business goals as well. already hundreds of partners in the last few years have joined our platform so that they can achieve their business goals as well And now I'm incredibly excited, too, about being able to power AI experiences. and now i'm incredibly excited too about being able to power ai experiences Now typically, an LLM is effectively scraping the Internet for products, offers and the specifics. now typically an llm is effectively scraping the internet for products offers and the specifics But with our APIs, of course, they can get directly connected to those APRs, those APIs, those financial products and be able to provide action for those customers those consumers as well. but with our apis of course they can get directly connected to those aprs those apis those financial products and be able to provide action for those customers those consumers as well I'll have a little bit more on this later in the slides. i'll have a little bit more on this later in the slides And so one of the reasons why our partners choose us is because we have the most delightful marketplace user experience in the industry. So just imagine if you're in the market for a flight, let's say, to Hawaii, and you went to expedia.com, search for your flight. When you chose the flight, instead of having a seamless checkout experience, you instead went to delta.com. You can imagine what would happen to conversion rates, consumer NPS, things like that. Unfortunately, a lot of financial marketplaces work in just that fashion. And so one of the reasons why our partners choose us is because we have the most delightful marketplace user experience in the industry. and so one of the reasons why our partners choose us is because we have the most delightful marketplace user experience in the industry So just imagine if you're in the market for a flight, let's say, to Hawaii, and you went to expedia.com, search for your flight. so just imagine if you're in the market for a flight let's say to hawaii and you went to expedia.com search for your flight When you chose the flight, instead of having a seamless checkout experience, you instead went to delta.com. when you chose the flight instead of having a seamless checkout experience you instead went to delta.com You can imagine what would happen to conversion rates, consumer NPS, things like that. you can imagine what would happen to conversion rates consumer nps things like that Unfortunately, a lot of financial marketplaces work in just that fashion. unfortunately a lot of financial marketplaces work in just that fashion So we've built a fully integrated checkout experience, integrating all of the steps of the financial product journey from search to application to decisioning and then finally taking out the product. So this is a single unified experience. It lets us improve conversion rates but also guide the user throughout their journey. So checkout is the front end. The magic really is in the back end, how we support this with our infrastructure. So we've built a fully integrated checkout experience, integrating all of the steps of the financial product journey from search to application to decisioning and then finally taking out the product. so we've built a fully integrated checkout experience integrating all of the steps of the financial product journey from search to application to decisioning and then finally taking out the product So this is a single unified experience. so this is a single unified experience It lets us improve conversion rates but also guide the user throughout their journey. it lets us improve conversion rates but also guide the user throughout their journey So checkout is the front end. so checkout is the front end The magic really is in the back end, how we support this with our infrastructure. the magic really is in the back end how we support this with our infrastructure And we do so with Spark, our proprietary hosted underwriting platform. This is connected with our massive volume, and it provides unparalleled matching capabilities as it's connected with the most advanced data sets. So dozens of lenders and issuers have already uploaded their underwriting models to our marketplace. So when a customer applies for a product on our platform, we augment and enrich that data with first and third party data sources, we apply it to those underwriting models, and we're able to deliver instant decisions around qualification directly to the consumer. For the consumer, this is an incredibly privacy centric approach. And we do so with Spark, our proprietary hosted underwriting platform. and we do so with spark our proprietary hosted underwriting platform This is connected with our massive volume, and it provides unparalleled matching capabilities as it's connected with the most advanced data sets. this is connected with our massive volume and it provides unparalleled matching capabilities as it's connected with the most advanced data sets So dozens of lenders and issuers have already uploaded their underwriting models to our marketplace. so dozens of lenders and issuers have already uploaded their underwriting models to our marketplace So when a customer applies for a product on our platform, we augment and enrich that data with first and third party data sources, we apply it to those underwriting models, and we're able to deliver instant decisions around qualification directly to the consumer. so when a customer applies for a product on our platform we augment and enrich that data with first and third party data sources we apply it to those underwriting models and we're able to deliver instant decisions around qualification directly to the consumer For the consumer, this is an incredibly privacy centric approach. for the consumer this is an incredibly privacy centric approach Their information stays on our infrastructure and isn't sent out all over the Internet. It also gives them more confidence that they're going to be approved for the products they want and less of that feeling that the DMV going from desk to desk. For partners, it means that their conversion rates are higher, their data costs are lower, and they can target their exact right customer, all with the bank level compliance that their teams require. So already, these technologies are already in market and delivering results. So here's just one example, working with a top credit card issuers where a customer has received an offer, in this case, a prequalified offer for a credit card. Their information stays on our infrastructure and isn't sent out all over the Internet. their information stays on our infrastructure and isn't sent out all over the internet It also gives them more confidence that they're going to be approved for the products they want and less of that feeling that the DMV going from desk to desk. it also gives them more confidence that they're going to be approved for the products they want and less of that feeling that the dmv going from desk to desk For partners, it means that their conversion rates are higher, their data costs are lower, and they can target their exact right customer, all with the bank level compliance that their teams require. for partners it means that their conversion rates are higher their data costs are lower and they can target their exact right customer all with the bank level compliance that their teams require So already, these technologies are already in market and delivering results. so already these technologies are already in market and delivering results So here's just one example, working with a top credit card issuers where a customer has received an offer, in this case, a prequalified offer for a credit card. so here's just one example working with a top credit card issuers where a customer has received an offer in this case a prequalified offer for a credit card And when they choose that offer, instead of going out to a separate website within our properties, they can select the card, add an authorized user, add other options, their PII is securely transmitted. And just like that, they're approved for that credit card. And through a technology called push provisioning, they can actually instantly put that card into their digital wallet, starting their journey, being able to use that card instantly as well. So if you compare this to the status quo today, you go from website to website, You have to do all of your own research. You have to convert on a different platform. And when they choose that offer, instead of going out to a separate website within our properties, they can select the card, add an authorized user, add other options, their PII is securely transmitted. and when they choose that offer instead of going out to a separate website within our properties they can select the card add an authorized user add other options their pii is securely transmitted And just like that, they're approved for that credit card. and just like that they're approved for that credit card And through a technology called push provisioning, they can actually instantly put that card into their digital wallet, starting their journey, being able to use that card instantly as well. and through a technology called push provisioning they can actually instantly put that card into their digital wallet starting their journey being able to use that card instantly as well So if you compare this to the status quo today, you go from website to website, You have to do all of your own research. so if you compare this to the status quo today you go from website to website you have to do all of your own research You have to convert on a different platform. you have to convert on a different platform And that breakage over and over and over again is not the kind of user experience that consumers expect. For us, our marketplaces match supply and demand with data, AI and these amazing user experiences. So I'll finish up with advice and AI, arguably the most important pillar of our financial wellness technologies. As you'll hear soon from Travis, Gen's trust based solutions, including financial wellness, are all about providing personalized results, personalized advice and solutions to consumers built on the data that's been entrusted to us. And so customers look to us to both protect and monitor, but now actually manage and grow their data. And that breakage over and over and over again is not the kind of user experience that consumers expect. and that breakage over and over and over again is not the kind of user experience that consumers expect For us, our marketplaces match supply and demand with data, AI and these amazing user experiences. for us our marketplaces match supply and demand with data ai and these amazing user experiences So I'll finish up with advice and AI, arguably the most important pillar of our financial wellness technologies. so i'll finish up with advice and ai arguably the most important pillar of our financial wellness technologies As you'll hear soon from Travis, Gen's trust based solutions, including financial wellness, are all about providing personalized results, personalized advice and solutions to consumers built on the data that's been entrusted to us. as you'll hear soon from travis gen's trust based solutions including financial wellness are all about providing personalized results personalized advice and solutions to consumers built on the data that's been entrusted to us And so customers look to us to both protect and monitor, but now actually manage and grow their data. and so customers look to us to both protect and monitor but now actually manage and grow their data This is driving engagement, insights and matching, again, with this user permissioned approach. We include verified identity data. We have credit data like credit score, trade lines, repayment history. As I mentioned, bank data is incredibly rich. Financial transaction data, as we like to say, we know how many tacos are eaten in Texas. This is driving engagement, insights and matching, again, with this user permissioned approach. this is driving engagement insights and matching again with this user permissioned approach We include verified identity data. we include verified identity data We have credit data like credit score, trade lines, repayment history. we have credit data like credit score trade lines repayment history As I mentioned, bank data is incredibly rich. as i mentioned bank data is incredibly rich Financial transaction data, as we like to say, we know how many tacos are eaten in Texas. financial transaction data as we like to say we know how many tacos are eaten in texas And so that kind of data, combined with behavioral data such as financial goals, the kinds of topics users are interested in because of their engagement and content. And then finally, of course, their financial shopping behavior on our marketplaces gives us this incredibly rich data set to be able to drive relevancy and engagement to become a daily destination. One way we do this is through our feed and content technologies. I think you got a little bit of a peek of that in Rick's video, this incredibly rich and proprietary set of content that's been verified. And so unfortunately, for better or for worse, over the last ten years, consumers have looked to alternative sources for their financial advice. And so that kind of data, combined with behavioral data such as financial goals, the kinds of topics users are interested in because of their engagement and content. and so that kind of data combined with behavioral data such as financial goals the kinds of topics users are interested in because of their engagement and content And then finally, of course, their financial shopping behavior on our marketplaces gives us this incredibly rich data set to be able to drive relevancy and engagement to become a daily destination. and then finally of course their financial shopping behavior on our marketplaces gives us this incredibly rich data set to be able to drive relevancy and engagement to become a daily destination One way we do this is through our feed and content technologies. one way we do this is through our feed and content technologies I think you got a little bit of a peek of that in Rick's video, this incredibly rich and proprietary set of content that's been verified. i think you got a little bit of a peek of that in rick's video this incredibly rich and proprietary set of content that's been verified And so unfortunately, for better or for worse, over the last ten years, consumers have looked to alternative sources for their financial advice. and so unfortunately for better or for worse over the last ten years consumers have looked to alternative sources for their financial advice It's no longer a financial adviser. It's no longer friends and family. It's social media. It's the kinds of content that are snackable, engaging, entertaining. But here, with Jen, they're also verified. It's no longer a financial adviser. it's no longer a financial adviser It's no longer friends and family. it's no longer friends and family It's social media. it's social media It's the kinds of content that are snackable, engaging, entertaining. it's the kinds of content that are snackable engaging entertaining But here, with Jen, they're also verified. but here with jen they're also verified Here, I'm showing you our feed. Every feed is different because every user is different. Not only that, every day is different for a user. So here, someone can see insights about their top data points, get a recommended offer, as I showed before, be able to take a look and learn more about markets or individual stocks but also take a look at verified content. This is Brandon Copeland, who also teaches a course at UPenn, talking about how to build credit. Here, I'm showing you our feed. here i'm showing you our feed Every feed is different because every user is different. every feed is different because every user is different Not only that, every day is different for a user. not only that every day is different for a user So here, someone can see insights about their top data points, get a recommended offer, as I showed before, be able to take a look and learn more about markets or individual stocks but also take a look at verified content. so here someone can see insights about their top data points get a recommended offer as i showed before be able to take a look and learn more about markets or individual stocks but also take a look at verified content This is Brandon Copeland, who also teaches a course at UPenn, talking about how to build credit. this is brandon copeland who also teaches a course at upenn talking about how to build credit You learn about the how to buy a house, but also things like quizzes that help engage and test our audience. Here, this is from the sources like Norton. So all of this content is engaging users every day to create this daily destination where someone is learning and getting inspired every single time they come to the feed. That then enables us to connect them the financial products that meet their goals. We're even gamifying the experience, encouraging daily visits to make sure that someone can keep their streaks up and be able to come back over and over. You learn about the how to buy a house, but also things like quizzes that help engage and test our audience. you learn about the how to buy a house but also things like quizzes that help engage and test our audience Here, this is from the sources like Norton. here this is from the sources like norton So all of this content is engaging users every day to create this daily destination where someone is learning and getting inspired every single time they come to the feed. so all of this content is engaging users every day to create this daily destination where someone is learning and getting inspired every single time they come to the feed That then enables us to connect them the financial products that meet their goals. that then enables us to connect them the financial products that meet their goals We're even gamifying the experience, encouraging daily visits to make sure that someone can keep their streaks up and be able to come back over and over. we're even gamifying the experience encouraging daily visits to make sure that someone can keep their streaks up and be able to come back over and over So all of these are tailored to your goals and financial profile. And what we've seen is an incredible response. Over 2,000,000,000 pieces of financial wellness content have been consumed by our users on our platform. So clearly, the demand for this kind of approach is there. And so lastly, let me just talk a little bit about AI, of course. So all of these are tailored to your goals and financial profile. so all of these are tailored to your goals and financial profile And what we've seen is an incredible response. and what we've seen is an incredible response Over 2,000,000,000 pieces of financial wellness content have been consumed by our users on our platform. over 2,000,000,000 pieces of financial wellness content have been consumed by our users on our platform So clearly, the demand for this kind of approach is there. so clearly the demand for this kind of approach is there And so lastly, let me just talk a little bit about AI, of course. and so lastly let me just talk a little bit about ai of course As Rick mentioned, we've been in AI for over ten plus years. AI is embedded throughout our stack to be able to deliver these experiences to the consumer. And so we have dozens of proprietary models, TxCAC, LASIK, Astra and more, that are really engaging folks at every stage and making those kind of predictions. So we're using algorithms to figure out what's the difference between a paycheck and just a normal deposit. We're using algorithms and models to determine risk underwriting. As Rick mentioned, we've been in AI for over ten plus years. as rick mentioned we've been in ai for over ten plus years AI is embedded throughout our stack to be able to deliver these experiences to the consumer. ai is embedded throughout our stack to be able to deliver these experiences to the consumer And so we have dozens of proprietary models, TxCAC, LASIK, Astra and more, that are really engaging folks at every stage and making those kind of predictions. and so we have dozens of proprietary models txcac lasik astra and more that are really engaging folks at every stage and making those kind of predictions So we're using algorithms to figure out what's the difference between a paycheck and just a normal deposit. so we're using algorithms to figure out what's the difference between a paycheck and just a normal deposit We're using algorithms and models to determine risk underwriting. we're using algorithms and models to determine risk underwriting We're using them to predict the next best offer. We're even using them to dictate how marketplace offers are shown so that the most relevant ones are shown first. And as I mentioned, over billions of model outputs that are validated and being done every year to enrich this customer experience and achieve those outcomes. Of course, we're extending those capabilities to generative AI so that we can lead in secure financial wellness. This privacy centric and secure infrastructure approach is really about bringing approachable, personalized insights to the consumer so that our consumer can understand their financial and credit data even better. We're using them to predict the next best offer. we're using them to predict the next best offer We're even using them to dictate how marketplace offers are shown so that the most relevant ones are shown first. we're even using them to dictate how marketplace offers are shown so that the most relevant ones are shown first And as I mentioned, over billions of model outputs that are validated and being done every year to enrich this customer experience and achieve those outcomes. and as i mentioned over billions of model outputs that are validated and being done every year to enrich this customer experience and achieve those outcomes Of course, we're extending those capabilities to generative AI so that we can lead in secure financial wellness. of course we're extending those capabilities to generative ai so that we can lead in secure financial wellness This privacy centric and secure infrastructure approach is really about bringing approachable, personalized insights to the consumer so that our consumer can understand their financial and credit data even better. this privacy centric and secure infrastructure approach is really about bringing approachable personalized insights to the consumer so that our consumer can understand their financial and credit data even better So someone can ask, how much did I spend on groceries last month? And because they already have a connected bank account with transactions, we're able to determine very easily and simply what they're intending and what kind of answer we can provide. Someone can ask, how do I reduce my credit card debt? And because we have information about their credit profile and their debt, again, able to deliver those answers easily and simply to that consumer. We're also including our verified financial content and tips within this and then also connecting it to our financial product marketplace so they can take action. So someone can ask, how much did I spend on groceries last month? so someone can ask how much did i spend on groceries last month And because they already have a connected bank account with transactions, we're able to determine very easily and simply what they're intending and what kind of answer we can provide. and because they already have a connected bank account with transactions we're able to determine very easily and simply what they're intending and what kind of answer we can provide Someone can ask, how do I reduce my credit card debt? someone can ask how do i reduce my credit card debt And because we have information about their credit profile and their debt, again, able to deliver those answers easily and simply to that consumer. and because we have information about their credit profile and their debt again able to deliver those answers easily and simply to that consumer We're also including our verified financial content and tips within this and then also connecting it to our financial product marketplace so they can take action. we're also including our verified financial content and tips within this and then also connecting it to our financial product marketplace so they can take action So customers can ask how do I improve credit and hundreds, if not thousands, of other questions that come up every single day in this very dynamic set of lives that our consumers lead. As mentioned, this really enables our consumers to talk to their money. For the first time, with generative AI, folks can have a financial adviser in their pocket. And as mentioned, Gen users already look to us every day to track and monitor their data. And now this expands the tools at their disposal to be able to engage. So customers can ask how do I improve credit and hundreds, if not thousands, of other questions that come up every single day in this very dynamic set of lives that our consumers lead. so customers can ask how do i improve credit and hundreds if not thousands of other questions that come up every single day in this very dynamic set of lives that our consumers lead As mentioned, this really enables our consumers to talk to their money. as mentioned this really enables our consumers to talk to their money For the first time, with generative AI, folks can have a financial adviser in their pocket. for the first time with generative ai folks can have a financial adviser in their pocket And as mentioned, Gen users already look to us every day to track and monitor their data. and as mentioned gen users already look to us every day to track and monitor their data And now this expands the tools at their disposal to be able to engage. and now this expands the tools at their disposal to be able to engage Behind the scenes, of course, the techniques are incredibly powerful. We use agentic architectures to enable our systems to dynamically reason through a query and provide seamless answers. We use techniques like task planning to coordinate tools. One tool might look up a credit score, another tool might look up verified financial content and another might even answer a customer service question. And so whether you're looking up a credit score or otherwise, we're also seamlessly integrating these answers into a response and then adding verified citations so customers know where it's coming from. Behind the scenes, of course, the techniques are incredibly powerful. behind the scenes of course the techniques are incredibly powerful We use agentic architectures to enable our systems to dynamically reason through a query and provide seamless answers. we use agentic architectures to enable our systems to dynamically reason through a query and provide seamless answers We use techniques like task planning to coordinate tools. we use techniques like task planning to coordinate tools One tool might look up a credit score, another tool might look up verified financial content and another might even answer a customer service question. one tool might look up a credit score another tool might look up verified financial content and another might even answer a customer service question And so whether you're looking up a credit score or otherwise, we're also seamlessly integrating these answers into a response and then adding verified citations so customers know where it's coming from. and so whether you're looking up a credit score or otherwise we're also seamlessly integrating these answers into a response and then adding verified citations so customers know where it's coming from So all of this is done in seconds, if not milliseconds. So Jen brings together and I'll end on this slide. Jen brings together all of the components of secure financial wellness in this new age. It includes first party data that helps us understand and personalize the experience for the customer marketplace APIs that enable customers to take action payment APIs that help consumers reach their financial goals and of course, that verified financial content that Moneyline has a deep history in so that we have trusted forms of advice. All of these are enabling customers for the first time to create a new category we call financial wellness. So all of this is done in seconds, if not milliseconds. so all of this is done in seconds if not milliseconds So Jen brings together and I'll end on this slide. so jen brings together and i'll end on this slide Jen brings together all of the components of secure financial wellness in this new age. jen brings together all of the components of secure financial wellness in this new age It includes first party data that helps us understand and personalize the experience for the customer marketplace APIs that enable customers to take action payment APIs that help consumers reach their financial goals and of course, that verified financial content that Moneyline has a deep history in so that we have trusted forms of advice. it includes first party data that helps us understand and personalize the experience for the customer marketplace apis that enable customers to take action payment apis that help consumers reach their financial goals and of course that verified financial content that moneyline has a deep history in so that we have trusted forms of advice All of these are enabling customers for the first time to create a new category we call financial wellness. all of these are enabling customers for the first time to create a new category we call financial wellness Trust is the key to this. We have decades of equity in earning that trust. And so that's the Gen Financial Wellness tech platform, content that inspires, insights that are personalized, choice and access through financial marketplaces and empowerment through financial products. As I mentioned at the top, all of these examples are MoneyLion examples. But fundamentally, this is a platform built for scale, already in use by hundreds of partners, now unlocking even more with Gen and its 500,000,000 users. Trust is the key to this. trust is the key to this We have decades of equity in earning that trust. we have decades of equity in earning that trust And so that's the Gen Financial Wellness tech platform, content that inspires, insights that are personalized, choice and access through financial marketplaces and empowerment through financial products. and so that's the gen financial wellness tech platform content that inspires insights that are personalized choice and access through financial marketplaces and empowerment through financial products As I mentioned at the top, all of these examples are MoneyLion examples. as i mentioned at the top all of these examples are moneylion examples But fundamentally, this is a platform built for scale, already in use by hundreds of partners, now unlocking even more with Gen and its 500,000,000 users. but fundamentally this is a platform built for scale already in use by hundreds of partners now unlocking even more with gen and its 500,000,000 users So with that, I'll pass it to Travis to talk about financial wellness and trust at Gen more broadly. So with that, I'll pass it to Travis to talk about financial wellness and trust at Gen more broadly. so with that i'll pass it to travis to talk about financial wellness and trust at gen more broadly

Speaker 5: Thank you and hello. I always get so excited when I hear Tim and Rick talk about the business. It's a fantastic business. But I would like to help you maybe a little bit understand it from the Gen Cyber Safety side, how why the connection is there, how the customers will benefit from this increase in value that we can offer them. And so when we were doing our research and realized that MoneyLion was a way to accelerate, we were talking to lots of customers. Thank you and hello. thank you and hello I always get so excited when I hear Tim and Rick talk about the business. i always get so excited when i hear tim and rick talk about the business It's a fantastic business. it's a fantastic business But I would like to help you maybe a little bit understand it from the Gen Cyber Safety side, how why the connection is there, how the customers will benefit from this increase in value that we can offer them. but i would like to help you maybe a little bit understand it from the gen cyber safety side how why the connection is there how the customers will benefit from this increase in value that we can offer them And so when we were doing our research and realized that MoneyLion was a way to accelerate, we were talking to lots of customers. and so when we were doing our research and realized that moneylion was a way to accelerate we were talking to lots of customers We were interviewing and discussing what do we mean to them, what do they use us for, how do they use us and what are their journeys. And I'm going to give you one example. Her name is Lisa, just exemplary for one of our Norton members. She's been using our products to help her feel confident online, right, protecting her devices, the files, her data, making sure her digital exhaust is less exposed. And she's in a position to think about what she can do on the Internet and look, and she wants a car. We were interviewing and discussing what do we mean to them, what do they use us for, how do they use us and what are their journeys. we were interviewing and discussing what do we mean to them what do they use us for how do they use us and what are their journeys And I'm going to give you one example. and i'm going to give you one example Her name is Lisa, just exemplary for one of our Norton members. her name is lisa just exemplary for one of our norton members She's been using our products to help her feel confident online, right, protecting her devices, the files, her data, making sure her digital exhaust is less exposed. she's been using our products to help her feel confident online right protecting her devices the files her data making sure her digital exhaust is less exposed And she's in a position to think about what she can do on the Internet and look, and she wants a car. and she's in a position to think about what she can do on the internet and look and she wants a car And because she's a LifeLock customer, features that we add in the Norton membership, we have access to her credit score. We look at her financial transactions. Today, we monitor them to make sure that they're accurate, and we let her know if anomalies in her financial accounts have occurred or something that an unintended expense hit her account that she can fix. But looking at her credit score and she's off to the car journey, first she does is unlock her credit file because she knows she needs to lease or finance a car. So in order to be able to be approved, she unlocks her credit file through our application. And because she's a LifeLock customer, features that we add in the Norton membership, we have access to her credit score. and because she's a lifelock customer features that we add in the norton membership we have access to her credit score We look at her financial transactions. we look at her financial transactions Today, we monitor them to make sure that they're accurate, and we let her know if anomalies in her financial accounts have occurred or something that an unintended expense hit her account that she can fix. today we monitor them to make sure that they're accurate and we let her know if anomalies in her financial accounts have occurred or something that an unintended expense hit her account that she can fix But looking at her credit score and she's off to the car journey, first she does is unlock her credit file because she knows she needs to lease or finance a car. but looking at her credit score and she's off to the car journey first she does is unlock her credit file because she knows she needs to lease or finance a car So in order to be able to be approved, she unlocks her credit file through our application. so in order to be able to be approved she unlocks her credit file through our application Goes to the car dealership, talks about the car she wants, negotiates a price, the dealership offers her financial terms, she takes those terms and walks away. And this is an area where we could have helped her even more. What we didn't do was explain to her what the advantage of leasing versus taking a loan. What is the advantage of having a plethora of choices that are out there in the Internet to select from to give her better interest rates, better terms and conditions. And I'll talk a little bit more about some of these examples, but we could have done a lot more. Goes to the car dealership, talks about the car she wants, negotiates a price, the dealership offers her financial terms, she takes those terms and walks away. goes to the car dealership talks about the car she wants negotiates a price the dealership offers her financial terms she takes those terms and walks away And this is an area where we could have helped her even more. and this is an area where we could have helped her even more What we didn't do was explain to her what the advantage of leasing versus taking a loan. what we didn't do was explain to her what the advantage of leasing versus taking a loan What is the advantage of having a plethora of choices that are out there in the Internet to select from to give her better interest rates, better terms and conditions. what is the advantage of having a plethora of choices that are out there in the internet to select from to give her better interest rates better terms and conditions And I'll talk a little bit more about some of these examples, but we could have done a lot more. and i'll talk a little bit more about some of these examples but we could have done a lot more Actually, it is part of our promise. We want to empower her to be the best she can, as Vincent pointed out in his presentation at the beginning. It's our obligation to do more since she's already interacting with us along that journey and along that decision path. But I'll explain it a bit more in detail. So within trust based solutions, we deal with who she is, the reputation she has and the empowering of her to make better decisions in her life. Actually, it is part of our promise. actually it is part of our promise We want to empower her to be the best she can, as Vincent pointed out in his presentation at the beginning. we want to empower her to be the best she can as vincent pointed out in his presentation at the beginning It's our obligation to do more since she's already interacting with us along that journey and along that decision path. it's our obligation to do more since she's already interacting with us along that journey and along that decision path But I'll explain it a bit more in detail. but i'll explain it a bit more in detail So within trust based solutions, we deal with who she is, the reputation she has and the empowering of her to make better decisions in her life. so within trust based solutions we deal with who she is the reputation she has and the empowering of her to make better decisions in her life And right now, we speak about financial lives. Managing her identity, making sure that her credentials are accurate, her credit score is accurate, her reputation on the financial market is properly set up so that when she wants to take that decision of the car, we are there for her and we've made sure that, that information is accurate, that she gets the best she can get out. Growing her finances. Now we have the ability to not only help her make sure her information is correct, but actually help her select the right product and service as well as transact that service on the platform, reducing her digital exhaust. Because as Tim pointed out, we can actually make the decisioning and the underwriting within the platform in closing those loans for her. And right now, we speak about financial lives. and right now we speak about financial lives Managing her identity, making sure that her credentials are accurate, her credit score is accurate, her reputation on the financial market is properly set up so that when she wants to take that decision of the car, we are there for her and we've made sure that, that information is accurate, that she gets the best she can get out. managing her identity making sure that her credentials are accurate her credit score is accurate her reputation on the financial market is properly set up so that when she wants to take that decision of the car we are there for her and we've made sure that that information is accurate that she gets the best she can get out Growing her finances. growing her finances Now we have the ability to not only help her make sure her information is correct, but actually help her select the right product and service as well as transact that service on the platform, reducing her digital exhaust. now we have the ability to not only help her make sure her information is correct but actually help her select the right product and service as well as transact that service on the platform reducing her digital exhaust Because as Tim pointed out, we can actually make the decisioning and the underwriting within the platform in closing those loans for her. because as tim pointed out we can actually make the decisioning and the underwriting within the platform in closing those loans for her So now we've reduced her exposure on top. I'll talk about those things in a bit more detail. But it all starts because the traditional journey that she was accustomed to was a lot about the recommendations of people. It's the salesperson at the car dealership that says you have these options, this is the one that you should take, she takes it. It was about that eye contact, that relationship. So now we've reduced her exposure on top. so now we've reduced her exposure on top I'll talk about those things in a bit more detail. i'll talk about those things in a bit more detail But it all starts because the traditional journey that she was accustomed to was a lot about the recommendations of people. but it all starts because the traditional journey that she was accustomed to was a lot about the recommendations of people It's the salesperson at the car dealership that says you have these options, this is the one that you should take, she takes it. it's the salesperson at the car dealership that says you have these options this is the one that you should take she takes it It was about that eye contact, that relationship. it was about that eye contact that relationship But we know that the digital world has changed all that. I mean, it's changed it already for many categories and financials, as Rick pointed out with the flea market examples, is actually even more complicated than most other markets. Lots of products, lots of different journeys, lots of different solutions to solve her needs. But we have an opportunity that actually in the Internet, we have more verification in signals that can make that transaction a trusted transaction. We can do ratings, reviews, look up the companies, get background information about the entities that she wants to work with and interact with, something that wasn't actually possible before at a depth that wasn't possible before. But we know that the digital world has changed all that. but we know that the digital world has changed all that I mean, it's changed it already for many categories and financials, as Rick pointed out with the flea market examples, is actually even more complicated than most other markets. i mean it's changed it already for many categories and financials as rick pointed out with the flea market examples is actually even more complicated than most other markets Lots of products, lots of different journeys, lots of different solutions to solve her needs. lots of products lots of different journeys lots of different solutions to solve her needs But we have an opportunity that actually in the Internet, we have more verification in signals that can make that transaction a trusted transaction. but we have an opportunity that actually in the internet we have more verification in signals that can make that transaction a trusted transaction We can do ratings, reviews, look up the companies, get background information about the entities that she wants to work with and interact with, something that wasn't actually possible before at a depth that wasn't possible before. we can do ratings reviews look up the companies get background information about the entities that she wants to work with and interact with something that wasn't actually possible before at a depth that wasn't possible before And with a marketplace platform and a decisioning platform, we can actually distill what's perfect for her, what fits her profile, what fits her capabilities and what fits the terms and conditions of the things that she's looking to achieve. So bringing all that in the digital world is just actually enhancing the capability for what she was already relying upon us on. We've been doing this for four decades. We've been protecting people as they start to explore the digital world. First, their devices, when they connect to the Internet, their email, the web pages that they visit, the scams that they're confronted with, whether it's now on WhatsApp or SMS, we are there along the way so that that connectivity is safe and trusted and secure. And with a marketplace platform and a decisioning platform, we can actually distill what's perfect for her, what fits her profile, what fits her capabilities and what fits the terms and conditions of the things that she's looking to achieve. and with a marketplace platform and a decisioning platform we can actually distill what's perfect for her what fits her profile what fits her capabilities and what fits the terms and conditions of the things that she's looking to achieve So bringing all that in the digital world is just actually enhancing the capability for what she was already relying upon us on. so bringing all that in the digital world is just actually enhancing the capability for what she was already relying upon us on We've been doing this for four decades. we've been doing this for four decades We've been protecting people as they start to explore the digital world. we've been protecting people as they start to explore the digital world First, their devices, when they connect to the Internet, their email, the web pages that they visit, the scams that they're confronted with, whether it's now on WhatsApp or SMS, we are there along the way so that that connectivity is safe and trusted and secure. first their devices when they connect to the internet their email the web pages that they visit the scams that they're confronted with whether it's now on whatsapp or sms we are there along the way so that that connectivity is safe and trusted and secure By entering with LifeLock, we went to that next level of protecting who she is on the Internet, her credit score, her credentials, making sure her accounts can't be taken over if they're leaked, getting her prepared and even more importantly, helping her fix if something bad has happened to her credentials. With Reputation Defender, we went into the next level of not only who she is, but how she's perceived. What are the attributes that will take into consideration as she goes down the digital journey? And with MoneyLion, we bring the power of decision making, the power of the ability to better understand what is right for her to go into, what transactions are right for her to take. So let's talk a little bit about identity. By entering with LifeLock, we went to that next level of protecting who she is on the Internet, her credit score, her credentials, making sure her accounts can't be taken over if they're leaked, getting her prepared and even more importantly, helping her fix if something bad has happened to her credentials. by entering with lifelock we went to that next level of protecting who she is on the internet her credit score her credentials making sure her accounts can't be taken over if they're leaked getting her prepared and even more importantly helping her fix if something bad has happened to her credentials With Reputation Defender, we went into the next level of not only who she is, but how she's perceived. with reputation defender we went into the next level of not only who she is but how she's perceived What are the attributes that will take into consideration as she goes down the digital journey? what are the attributes that will take into consideration as she goes down the digital journey And with MoneyLion, we bring the power of decision making, the power of the ability to better understand what is right for her to go into, what transactions are right for her to take. and with moneylion we bring the power of decision making the power of the ability to better understand what is right for her to go into what transactions are right for her to take So let's talk a little bit about identity. so let's talk a little bit about identity Identity covers a vast amount of information. And just simply when you enroll in LifeLock, we are starting to help protect you that first moment, whether it is your social security number, your email, your account credentials, whether it's your driver's license, your passport, all relevant, very relevant personal identifiable information that could be abused if gotten into the wrong hands that we help you monitor and protect. But even more than that, as you build your financial wealth, buy a house, we're able to go and make sure things like home title protection and other services and registration services are properly documented and verified. We also do it for your family. As we know and as Rick pointed out, as people enter the financial world, they start off at a different credit level, a different financial stage than when they're later mature in life. Identity covers a vast amount of information. identity covers a vast amount of information And just simply when you enroll in LifeLock, we are starting to help protect you that first moment, whether it is your social security number, your email, your account credentials, whether it's your driver's license, your passport, all relevant, very relevant personal identifiable information that could be abused if gotten into the wrong hands that we help you monitor and protect. and just simply when you enroll in lifelock we are starting to help protect you that first moment whether it is your social security number your email your account credentials whether it's your driver's license your passport all relevant very relevant personal identifiable information that could be abused if gotten into the wrong hands that we help you monitor and protect But even more than that, as you build your financial wealth, buy a house, we're able to go and make sure things like home title protection and other services and registration services are properly documented and verified. but even more than that as you build your financial wealth buy a house we're able to go and make sure things like home title protection and other services and registration services are properly documented and verified We also do it for your family. we also do it for your family As we know and as Rick pointed out, as people enter the financial world, they start off at a different credit level, a different financial stage than when they're later mature in life. as we know and as rick pointed out as people enter the financial world they start off at a different credit level a different financial stage than when they're later mature in life We bring tools to make sure that, that financial journey is protected through LifeLock. Regardless if you're a child coming into the world or a senior adult, making sure you're protecting all that what you've had, safeguarding all those assets that you've built. We monitor constantly. We alert if something happens, but we also have an extremely good restoration service, a white glove service that every member can access, where we will help navigate in the moment that something went wrong or that you were fraudulently abused in one way or another. That white glove service is backed up by insurance. We bring tools to make sure that, that financial journey is protected through LifeLock. we bring tools to make sure that that financial journey is protected through lifelock Regardless if you're a child coming into the world or a senior adult, making sure you're protecting all that what you've had, safeguarding all those assets that you've built. regardless if you're a child coming into the world or a senior adult making sure you're protecting all that what you've had safeguarding all those assets that you've built We monitor constantly. we monitor constantly We alert if something happens, but we also have an extremely good restoration service, a white glove service that every member can access, where we will help navigate in the moment that something went wrong or that you were fraudulently abused in one way or another. we alert if something happens but we also have an extremely good restoration service a white glove service that every member can access where we will help navigate in the moment that something went wrong or that you were fraudulently abused in one way or another That white glove service is backed up by insurance. that white glove service is backed up by insurance Very often in those situations, there is financial loss. And within our packages, we cover those financial losses to make sure that you are put back in a position of being hold. Very important aspects of what we do within LifeLock. On reputation, what most people start to realize is your reputation, how you are perceived, is becoming important in every aspect of your digital life. Whether it's applying for a job, I mean, it's unbelievable that 57% of people in the HR departments or companies have rejected candidates purely because Very often in those situations, there is financial loss. very often in those situations there is financial loss And within our packages, we cover those financial losses to make sure that you are put back in a position of being hold. and within our packages we cover those financial losses to make sure that you are put back in a position of being hold Very important aspects of what we do within LifeLock. very important aspects of what we do within lifelock On reputation, what most people start to realize is your reputation, how you are perceived, is becoming important in every aspect of your digital life. on reputation what most people start to realize is your reputation how you are perceived is becoming important in every aspect of your digital life Whether it's applying for a job, I mean, it's unbelievable that 57% of people in the HR departments or companies have rejected candidates purely because whether it's applying for a job i mean it's unbelievable that 57% of people in the hr departments or companies have rejected candidates purely because

Speaker 1: of the social profiles that of the social profiles that of the social profiles that

Speaker 5: they found online from those candidates. That's a huge number of people looking who you are and how you're perceived. Whether it's securing a loan, it's coming more and more a factor to look at beyond just your pure financials, other aspects of that digital life, employee verification, social profiles, risk adversity, it can come in just as strong as your actual hard facts of your bank account and your credit score. Getting elected. What's important is, at the end of the day, you want to do a few things. they found online from those candidates. they found online from those candidates That's a huge number of people looking who you are and how you're perceived. that's a huge number of people looking who you are and how you're perceived Whether it's securing a loan, it's coming more and more a factor to look at beyond just your pure financials, other aspects of that digital life, employee verification, social profiles, risk adversity, it can come in just as strong as your actual hard facts of your bank account and your credit score. whether it's securing a loan it's coming more and more a factor to look at beyond just your pure financials other aspects of that digital life employee verification social profiles risk adversity it can come in just as strong as your actual hard facts of your bank account and your credit score Getting elected. getting elected What's important is, at the end of the day, you want to do a few things. what's important is at the end of the day you want to do a few things One, that first impression you want to make positive, which means when somebody searches your name or asks an AI chat about you, that that information is accurate and accurately represents who you think you are and who you want to be. So we want to promote the good and we want to remove the inaccurate, outdated information, false information, so that who you are and how you're perceived as accurate as possible because it comes as such a vital component of so many decisions that are occurring in life. And then of course, we want to build resistance, resilience. The resilience to keep monitoring that, to keep actively looking because the Internet is fast, things change, you're posting, you're acting, you're reacting and you want to make sure that at any given time, you're aware of what's happening so that you can adjust and take action to correct. Super important as we go down this digital journey. One, that first impression you want to make positive, which means when somebody searches your name or asks an AI chat about you, that that information is accurate and accurately represents who you think you are and who you want to be. one that first impression you want to make positive which means when somebody searches your name or asks an ai chat about you that that information is accurate and accurately represents who you think you are and who you want to be So we want to promote the good and we want to remove the inaccurate, outdated information, false information, so that who you are and how you're perceived as accurate as possible because it comes as such a vital component of so many decisions that are occurring in life. so we want to promote the good and we want to remove the inaccurate outdated information false information so that who you are and how you're perceived as accurate as possible because it comes as such a vital component of so many decisions that are occurring in life And then of course, we want to build resistance, resilience. and then of course we want to build resistance resilience The resilience to keep monitoring that, to keep actively looking because the Internet is fast, things change, you're posting, you're acting, you're reacting and you want to make sure that at any given time, you're aware of what's happening so that you can adjust and take action to correct. the resilience to keep monitoring that to keep actively looking because the internet is fast things change you're posting you're acting you're reacting and you want to make sure that at any given time you're aware of what's happening so that you can adjust and take action to correct Super important as we go down this digital journey. super important as we go down this digital journey And I didn't touch on financials, but actually those two products have already gone very far into the financial services section in financial solutions. So on the credit score, we've been providing insights, how you can improve it. We've been providing information about what has impacted it so that you can take corrective adjustments. We've been looking at the transactions of the user, explaining to them when a transaction is abnormal to their normal day life, when something might have happened. It could be fraudulent or it could just be an unintended transaction that the user initiated so that they're put back in the power. And I didn't touch on financials, but actually those two products have already gone very far into the financial services section in financial solutions. and i didn't touch on financials but actually those two products have already gone very far into the financial services section in financial solutions So on the credit score, we've been providing insights, how you can improve it. so on the credit score we've been providing insights how you can improve it We've been providing information about what has impacted it so that you can take corrective adjustments. we've been providing information about what has impacted it so that you can take corrective adjustments We've been looking at the transactions of the user, explaining to them when a transaction is abnormal to their normal day life, when something might have happened. we've been looking at the transactions of the user explaining to them when a transaction is abnormal to their normal day life when something might have happened It could be fraudulent or it could just be an unintended transaction that the user initiated so that they're put back in the power. it could be fraudulent or it could just be an unintended transaction that the user initiated so that they're put back in the power And this journey has continued. Your credit score is a form of reputation, and it will be used. The transactions that we're monitoring are used to make decisions in the future. Why couldn't we just help? And that's when we came to MoneyLion and said there's an opportunity here to go that next step and really empower the user in that decision journey that they're going through. And this journey has continued. and this journey has continued Your credit score is a form of reputation, and it will be used. your credit score is a form of reputation and it will be used The transactions that we're monitoring are used to make decisions in the future. the transactions that we're monitoring are used to make decisions in the future Why couldn't we just help? why couldn't we just help And that's when we came to MoneyLion and said there's an opportunity here to go that next step and really empower the user in that decision journey that they're going through. and that's when we came to moneylion and said there's an opportunity here to go that next step and really empower the user in that decision journey that they're going through And it's interesting when you look at the two worlds, and both Rick and Tim alluded to it. On the one side, we have tens of millions of users trusting us every day to go on to the connected world, especially in The U. S. And we use The U. S. And it's interesting when you look at the two worlds, and both Rick and Tim alluded to it. and it's interesting when you look at the two worlds and both rick and tim alluded to it On the one side, we have tens of millions of users trusting us every day to go on to the connected world, especially in The U. on the one side we have tens of millions of users trusting us every day to go on to the connected world especially in the u S. s And we use The U. and we use the u S. s As an example because I think it's really important to understand. These millions of users of Gen in The U. S. Are taking 2,000,000 car loans every year, like I just gave you the example of Lisa. Over 7,000,000 credit cards every year, they are applying for new ones. As an example because I think it's really important to understand. as an example because i think it's really important to understand These millions of users of Gen in The U. these millions of users of gen in the u S. s Are taking 2,000,000 car loans every year, like I just gave you the example of Lisa. are taking 2,000,000 car loans every year like i just gave you the example of lisa Over 7,000,000 credit cards every year, they are applying for new ones. over 7,000,000 credit cards every year they are applying for new ones They are opening more than 1,000,000 personal loans a year. These users have trusted us to make sure that what they're doing online is accurate. Those volumes, we have a responsibility to make sure that our users are actually picking the right products and right service. So on the one side, we have a customer base that is expecting us to do it. We flip on the other side, now we have the mechanisms to make sure it's done well and to the best of their advantage, To make sure that not only the service providers get the right profile and information, but that the users are put in a position of power to be able to make the right decision what fits their lives the best. They are opening more than 1,000,000 personal loans a year. they are opening more than 1,000,000 personal loans a year These users have trusted us to make sure that what they're doing online is accurate. these users have trusted us to make sure that what they're doing online is accurate Those volumes, we have a responsibility to make sure that our users are actually picking the right products and right service. those volumes we have a responsibility to make sure that our users are actually picking the right products and right service So on the one side, we have a customer base that is expecting us to do it. so on the one side we have a customer base that is expecting us to do it We flip on the other side, now we have the mechanisms to make sure it's done well and to the best of their advantage, To make sure that not only the service providers get the right profile and information, but that the users are put in a position of power to be able to make the right decision what fits their lives the best. we flip on the other side now we have the mechanisms to make sure it's done well and to the best of their advantage to make sure that not only the service providers get the right profile and information but that the users are put in a position of power to be able to make the right decision what fits their lives the best And as they build the wealth, they have more to protect. And so we see the circle come right back again because then when they go into asset investment in other areas, we're there to make sure that those things that they've worked so hard to achieve are safeguarded and the journey continues. So on the one side, we have the zero CAC. We have a lot of existing customers with a lot of transactions where we're already today in the middle of that we're now introducing the financial wellness features to. And on the other side, helping them on their financial journey increases the responsibility that we have to protect them with more solutions and more services. And as they build the wealth, they have more to protect. and as they build the wealth they have more to protect And so we see the circle come right back again because then when they go into asset investment in other areas, we're there to make sure that those things that they've worked so hard to achieve are safeguarded and the journey continues. and so we see the circle come right back again because then when they go into asset investment in other areas we're there to make sure that those things that they've worked so hard to achieve are safeguarded and the journey continues So on the one side, we have the zero CAC. so on the one side we have the zero cac We have a lot of existing customers with a lot of transactions where we're already today in the middle of that we're now introducing the financial wellness features to. we have a lot of existing customers with a lot of transactions where we're already today in the middle of that we're now introducing the financial wellness features to And on the other side, helping them on their financial journey increases the responsibility that we have to protect them with more solutions and more services. and on the other side helping them on their financial journey increases the responsibility that we have to protect them with more solutions and more services So you might say there's companies out there that do it, but there's a lot to make secure financial wellness that has to come together. On the one side, it is that core protection, right? It is that trust, which was mentioned quite a few times. We've been there for decades providing that. We have the foundation to say, we make sure you are protected from the bad and that you're empowered to do the good. So you might say there's companies out there that do it, but there's a lot to make secure financial wellness that has to come together. so you might say there's companies out there that do it but there's a lot to make secure financial wellness that has to come together On the one side, it is that core protection, right? on the one side it is that core protection right It is that trust, which was mentioned quite a few times. it is that trust which was mentioned quite a few times We've been there for decades providing that. we've been there for decades providing that We have the foundation to say, we make sure you are protected from the bad and that you're empowered to do the good. we have the foundation to say we make sure you are protected from the bad and that you're empowered to do the good We've been doing it for years. Authenticity, we come from a membership world. We come from what's doing best for the users. We have the ability to understand those users, make sure their information is valid and verified and we're recognized for doing that as best in class across the entire country and across the entire world. Personalization. We've been doing it for years. we've been doing it for years Authenticity, we come from a membership world. authenticity we come from a membership world We come from what's doing best for the users. we come from what's doing best for the users We have the ability to understand those users, make sure their information is valid and verified and we're recognized for doing that as best in class across the entire country and across the entire world. we have the ability to understand those users make sure their information is valid and verified and we're recognized for doing that as best in class across the entire country and across the entire world Personalization. personalization Tim talked about AI. We've also, since years, been using machine learning and AI technologies to fight against the bad, to recognize what has happened. And now we're just amplifying it even more to make sure that the whole ecosystem is extremely personalized and tailored to the needs of the user at the moment when they have to do something or want to do something. And of course, contextualizing it. We're able to follow that journey of the user, whether they're starting out in their financial careers and in their professional lives or when they're at the stage of thinking about future planning, retirement and how do I make sure that I have the stability that I need at that moment in life as well. Tim talked about AI. tim talked about ai We've also, since years, been using machine learning and AI technologies to fight against the bad, to recognize what has happened. we've also since years been using machine learning and ai technologies to fight against the bad to recognize what has happened And now we're just amplifying it even more to make sure that the whole ecosystem is extremely personalized and tailored to the needs of the user at the moment when they have to do something or want to do something. and now we're just amplifying it even more to make sure that the whole ecosystem is extremely personalized and tailored to the needs of the user at the moment when they have to do something or want to do something And of course, contextualizing it. and of course contextualizing it We're able to follow that journey of the user, whether they're starting out in their financial careers and in their professional lives or when they're at the stage of thinking about future planning, retirement and how do I make sure that I have the stability that I need at that moment in life as well. we're able to follow that journey of the user whether they're starting out in their financial careers and in their professional lives or when they're at the stage of thinking about future planning retirement and how do i make sure that i have the stability that i need at that moment in life as well And the open ecosystem, because while we have great first party products and services and we will continue to be the best in class in every product and service we run, It's really important that we have a network of ancillary services that when the users need spreads beyond what we can serve them, that we can give them the trusted guidance, the trusted relationship to those products and services that better fit their need. Those combined put us in a position to compete in a market which is very fragmented. All of these pieces have to come together in order to be able to provide a true authentic service to the users to make sure that they are going down their journey and doing what's best for them in their financial world, but also in their digital world. We empower them. And most importantly, we keep it in a controlled environment because through marketplace and through engine, we are actually limiting the exposure of those decisions. And the open ecosystem, because while we have great first party products and services and we will continue to be the best in class in every product and service we run, It's really important that we have a network of ancillary services that when the users need spreads beyond what we can serve them, that we can give them the trusted guidance, the trusted relationship to those products and services that better fit their need. and the open ecosystem because while we have great first party products and services and we will continue to be the best in class in every product and service we run it's really important that we have a network of ancillary services that when the users need spreads beyond what we can serve them that we can give them the trusted guidance the trusted relationship to those products and services that better fit their need Those combined put us in a position to compete in a market which is very fragmented. those combined put us in a position to compete in a market which is very fragmented All of these pieces have to come together in order to be able to provide a true authentic service to the users to make sure that they are going down their journey and doing what's best for them in their financial world, but also in their digital world. all of these pieces have to come together in order to be able to provide a true authentic service to the users to make sure that they are going down their journey and doing what's best for them in their financial world but also in their digital world We empower them. we empower them And most importantly, we keep it in a controlled environment because through marketplace and through engine, we are actually limiting the exposure of those decisions. and most importantly we keep it in a controlled environment because through marketplace and through engine we are actually limiting the exposure of those decisions They're not going to the flea market and spreading out their credentials everywhere. We're keeping it within the system and making sure that, that transaction stays in that private environment. So as a summation, this journey, the financial journey and our cyber safety journey that we've been covering for users for decades is just merely an extension of where we were already going. It is bringing another set of values additional to somewhere where we were already interacting in a key part of their journey. Now we are able to pick them up in the beginning of their career, helping them apply for that job, getting accepted by a school, bringing them into a place when they start building assets to help them protect those assets and build security and give them insights on what they should do next to the point where we're protecting the wealth when they build it, safeguarding the values that they work so hard to earn. They're not going to the flea market and spreading out their credentials everywhere. they're not going to the flea market and spreading out their credentials everywhere We're keeping it within the system and making sure that, that transaction stays in that private environment. we're keeping it within the system and making sure that that transaction stays in that private environment So as a summation, this journey, the financial journey and our cyber safety journey that we've been covering for users for decades is just merely an extension of where we were already going. so as a summation this journey the financial journey and our cyber safety journey that we've been covering for users for decades is just merely an extension of where we were already going It is bringing another set of values additional to somewhere where we were already interacting in a key part of their journey. it is bringing another set of values additional to somewhere where we were already interacting in a key part of their journey Now we are able to pick them up in the beginning of their career, helping them apply for that job, getting accepted by a school, bringing them into a place when they start building assets to help them protect those assets and build security and give them insights on what they should do next to the point where we're protecting the wealth when they build it, safeguarding the values that they work so hard to earn. now we are able to pick them up in the beginning of their career helping them apply for that job getting accepted by a school bringing them into a place when they start building assets to help them protect those assets and build security and give them insights on what they should do next to the point where we're protecting the wealth when they build it safeguarding the values that they work so hard to earn Doing this now with AI technologies and the capability to communicate, as Tim referred to, in snackable content along the way, we bring not only the confidence to transact, but we actually bring the information that they feel empowered that the transactions that they're making are right. And so with that, I wrap up why it fits within the Gen population. I'm going to hand it over to Vincent to talk a little bit about the greater Gen strategy and how we evolve. Doing this now with AI technologies and the capability to communicate, as Tim referred to, in snackable content along the way, we bring not only the confidence to transact, but we actually bring the information that they feel empowered that the transactions that they're making are right. doing this now with ai technologies and the capability to communicate as tim referred to in snackable content along the way we bring not only the confidence to transact but we actually bring the information that they feel empowered that the transactions that they're making are right And so with that, I wrap up why it fits within the Gen population. and so with that i wrap up why it fits within the gen population I'm going to hand it over to Vincent to talk a little bit about the greater Gen strategy and how we evolve. i'm going to hand it over to vincent to talk a little bit about the greater gen strategy and how we evolve

Speaker 1: Understand more about our products and why we put identity, reputation management and financial wellness together into one division or one segment inside our company. I was discussing with Andy from Wells Fargo as we enter into the room. Andy was covering Symantec, dropped when we sold the business to Broadcom five years ago, and now it's back covering the stock. And we're talking about how big of a transformation we've been driving over the last five years. We're clearly set to become the global leader in cyber safety, specifically for consumers. Understand more about our products and why we put identity, reputation management and financial wellness together into one division or one segment inside our company. understand more about our products and why we put identity reputation management and financial wellness together into one division or one segment inside our company I was discussing with Andy from Wells Fargo as we enter into the room. i was discussing with andy from wells fargo as we enter into the room Andy was covering Symantec, dropped when we sold the business to Broadcom five years ago, and now it's back covering the stock. andy was covering symantec dropped when we sold the business to broadcom five years ago and now it's back covering the stock And we're talking about how big of a transformation we've been driving over the last five years. and we're talking about how big of a transformation we've been driving over the last five years We're clearly set to become the global leader in cyber safety, specifically for consumers. we're clearly set to become the global leader in cyber safety specifically for consumers And now with 500,000,000 endpoints on our platform, 75,000,000 paid customers, billions of attacks protected per day, that's no contest. We have a very strong R and D, AI, data team that constantly stay ahead of this evolving threat landscape and our evolving consumer needs, our customer needs. And then with that, our brands have really become an essential part of a consumer digital life. Five years ago, we were mainly a point product organization, and we set out to become a cyber safety platform backed by users, trusted brands and then moving from protection to empowering them. And today, in this next chapter, of course, our cyber safety remains our core foundation, but our purpose is becoming a lot bigger. And now with 500,000,000 endpoints on our platform, 75,000,000 paid customers, billions of attacks protected per day, that's no contest. and now with 500,000,000 endpoints on our platform 75,000,000 paid customers billions of attacks protected per day that's no contest We have a very strong R and D, AI, data team that constantly stay ahead of this evolving threat landscape and our evolving consumer needs, our customer needs. we have a very strong r and d ai data team that constantly stay ahead of this evolving threat landscape and our evolving consumer needs our customer needs And then with that, our brands have really become an essential part of a consumer digital life. and then with that our brands have really become an essential part of a consumer digital life Five years ago, we were mainly a point product organization, and we set out to become a cyber safety platform backed by users, trusted brands and then moving from protection to empowering them. five years ago we were mainly a point product organization and we set out to become a cyber safety platform backed by users trusted brands and then moving from protection to empowering them And today, in this next chapter, of course, our cyber safety remains our core foundation, but our purpose is becoming a lot bigger. and today in this next chapter of course our cyber safety remains our core foundation but our purpose is becoming a lot bigger It's really bringing together that cyber safety, that reputation management with financial wellness and expanded that to many other trusted solutions. Now enabled with a much richer set of data with an AI business model, as Tim and Travis have shared, we're able to provide kind of a unified architecture to our customers that allows us to provide personalized, contextual, verified experience to our customers in order to have the best recommendation possible. And that's the powerful convergence we're bringing cyber safety and trusted solutions and defining what we mean by protecting and empowering people in the digital age. That integrated portfolio architecture is not just a collection of products. Really, it's an evolution from protecting all the way to empowering people to really live and work and now thrive online in this digital world. It's really bringing together that cyber safety, that reputation management with financial wellness and expanded that to many other trusted solutions. it's really bringing together that cyber safety that reputation management with financial wellness and expanded that to many other trusted solutions Now enabled with a much richer set of data with an AI business model, as Tim and Travis have shared, we're able to provide kind of a unified architecture to our customers that allows us to provide personalized, contextual, verified experience to our customers in order to have the best recommendation possible. now enabled with a much richer set of data with an ai business model as tim and travis have shared we're able to provide kind of a unified architecture to our customers that allows us to provide personalized contextual verified experience to our customers in order to have the best recommendation possible And that's the powerful convergence we're bringing cyber safety and trusted solutions and defining what we mean by protecting and empowering people in the digital age. and that's the powerful convergence we're bringing cyber safety and trusted solutions and defining what we mean by protecting and empowering people in the digital age That integrated portfolio architecture is not just a collection of products. that integrated portfolio architecture is not just a collection of products Really, it's an evolution from protecting all the way to empowering people to really live and work and now thrive online in this digital world. really it's an evolution from protecting all the way to empowering people to really live and work and now thrive online in this digital world And when we say we've transformed with a vision, with a strategy, we really are delivering it with operational excellence, our operational discipline, our focus, of course, importantly, delivering tangible results. We scaled our company in a balanced way, balancing growth and profitability. As you know, over the last five years, we've nearly doubled our revenue with a CAGR over 10% and delivering even better profitability with EPS CAGR of over 20%. And that's, for me, is a hallmark of both diversification and execution. We expanded from 20,000,000 paid customers, back five years ago, Andy, now to over 75,000,000 paid customer worldwide. And when we say we've transformed with a vision, with a strategy, we really are delivering it with operational excellence, our operational discipline, our focus, of course, importantly, delivering tangible results. and when we say we've transformed with a vision with a strategy we really are delivering it with operational excellence our operational discipline our focus of course importantly delivering tangible results We scaled our company in a balanced way, balancing growth and profitability. we scaled our company in a balanced way balancing growth and profitability As you know, over the last five years, we've nearly doubled our revenue with a CAGR over 10% and delivering even better profitability with EPS CAGR of over 20%. as you know over the last five years we've nearly doubled our revenue with a cagr over 10% and delivering even better profitability with eps cagr of over 20% And that's, for me, is a hallmark of both diversification and execution. and that's for me is a hallmark of both diversification and execution We expanded from 20,000,000 paid customers, back five years ago, Andy, now to over 75,000,000 paid customer worldwide. we expanded from 20,000,000 paid customers back five years ago andy now to over 75,000,000 paid customer worldwide We've built that integrated unified architecture that now allows us to deploy new services, new value to our customers in a seamless manner. And with that data set, the rich data enabled and permitted by the customers with AI as a mode, we've now created a more defensible edge by powering that personalization, that trust at scale. We also, as you know, have executed strategic acquisitions, integrating them into our ecosystem, and we've done that by maintaining our operational efficiency, consistently delivering our operating margin above 50%. So when we say we have a strategy, we have a vision and we're transforming our portfolio, really, it's not just strategy. It's demonstrated in those numbers that you see here in the way we operate and how we deliver at scale. We've built that integrated unified architecture that now allows us to deploy new services, new value to our customers in a seamless manner. we've built that integrated unified architecture that now allows us to deploy new services new value to our customers in a seamless manner And with that data set, the rich data enabled and permitted by the customers with AI as a mode, we've now created a more defensible edge by powering that personalization, that trust at scale. and with that data set the rich data enabled and permitted by the customers with ai as a mode we've now created a more defensible edge by powering that personalization that trust at scale We also, as you know, have executed strategic acquisitions, integrating them into our ecosystem, and we've done that by maintaining our operational efficiency, consistently delivering our operating margin above 50%. we also as you know have executed strategic acquisitions integrating them into our ecosystem and we've done that by maintaining our operational efficiency consistently delivering our operating margin above 50% So when we say we have a strategy, we have a vision and we're transforming our portfolio, really, it's not just strategy. so when we say we have a strategy we have a vision and we're transforming our portfolio really it's not just strategy It's demonstrated in those numbers that you see here in the way we operate and how we deliver at scale. it's demonstrated in those numbers that you see here in the way we operate and how we deliver at scale As we bring together cyber safety and financial wellness, we really have an enormous, a gigantic opportunity ahead of us. In 2023, when we share about our TAM, Consumer Cyber Safety, we had about CHF 22,000,000,000 of opportunity at a steady growth rate of mid single digits. But with the rise of that digital finance, with the evolution of our consumer needs, the landscape is shifting for us. Consumers are increasingly looking for that trusted digital platform that will not just protect their identity or manage their data, but also will manage their money, monitor their credit, help them grow the overall financial profile and make better decision online. So by adding now secure financial wellness, we more than doubled our overall addressable market, overall now $50,000,000,000 growing at a higher rate. As we bring together cyber safety and financial wellness, we really have an enormous, a gigantic opportunity ahead of us. as we bring together cyber safety and financial wellness we really have an enormous a gigantic opportunity ahead of us In 2023, when we share about our TAM, Consumer Cyber Safety, we had about CHF 22,000,000,000 of opportunity at a steady growth rate of mid single digits. in 2023 when we share about our tam consumer cyber safety we had about chf 22,000,000,000 of opportunity at a steady growth rate of mid single digits But with the rise of that digital finance, with the evolution of our consumer needs, the landscape is shifting for us. but with the rise of that digital finance with the evolution of our consumer needs the landscape is shifting for us Consumers are increasingly looking for that trusted digital platform that will not just protect their identity or manage their data, but also will manage their money, monitor their credit, help them grow the overall financial profile and make better decision online. consumers are increasingly looking for that trusted digital platform that will not just protect their identity or manage their data but also will manage their money monitor their credit help them grow the overall financial profile and make better decision online So by adding now secure financial wellness, we more than doubled our overall addressable market, overall now $50,000,000,000 growing at a higher rate. so by adding now secure financial wellness we more than doubled our overall addressable market overall now $50,000,000,000 growing at a higher rate And note that this is just, as Travis mentioned, U. S. Focus for today. But cyber safety, our global footprint is fully global in over 150 countries. And so as we expand internationally, we expect to bring the full features, stack features to those consumers. And note that this is just, as Travis mentioned, U. and note that this is just as travis mentioned u S. s Focus for today. focus for today But cyber safety, our global footprint is fully global in over 150 countries. but cyber safety our global footprint is fully global in over 150 countries And so as we expand internationally, we expect to bring the full features, stack features to those consumers. and so as we expand internationally we expect to bring the full features stack features to those consumers It also does not include what I would call an AI multiplier as AI will constantly enable us to innovate more, automate more and bring services to customers that in the past were not accessible, lack financial planning, back down to them in a very automated manner. So it's not just a bigger market. It's a much more dynamic market. It's a faster growing market, and we feel that we're uniquely positioned to go and capture it. And why are we uniquely positioned? It also does not include what I would call an AI multiplier as AI will constantly enable us to innovate more, automate more and bring services to customers that in the past were not accessible, lack financial planning, back down to them in a very automated manner. it also does not include what i would call an ai multiplier as ai will constantly enable us to innovate more automate more and bring services to customers that in the past were not accessible lack financial planning back down to them in a very automated manner So it's not just a bigger market. so it's not just a bigger market It's a much more dynamic market. it's a much more dynamic market It's a faster growing market, and we feel that we're uniquely positioned to go and capture it. it's a faster growing market and we feel that we're uniquely positioned to go and capture it And why are we uniquely positioned? and why are we uniquely positioned Because we've built a very strong portfolio of capabilities over the last five years. We definitely have an innovative driven portfolio focused on AI. With over 500,000,000 of endpoints on our platform, we now get unmatched insight into the customer profiles. And by being really focusing on the customer, the consumer journey, we're able to create that trusted experience to boost retention, lifetime value and loyalty. So this consumer first approach really makes us the leader in cyber safety and now extending that into that financial wellness. Because we've built a very strong portfolio of capabilities over the last five years. because we've built a very strong portfolio of capabilities over the last five years We definitely have an innovative driven portfolio focused on AI. we definitely have an innovative driven portfolio focused on ai With over 500,000,000 of endpoints on our platform, we now get unmatched insight into the customer profiles. with over 500,000,000 of endpoints on our platform we now get unmatched insight into the customer profiles And by being really focusing on the customer, the consumer journey, we're able to create that trusted experience to boost retention, lifetime value and loyalty. and by being really focusing on the customer the consumer journey we're able to create that trusted experience to boost retention lifetime value and loyalty So this consumer first approach really makes us the leader in cyber safety and now extending that into that financial wellness. so this consumer first approach really makes us the leader in cyber safety and now extending that into that financial wellness Our brands, Norton, Avast, LifeLock and now MoneyLion are definitely household names, two of them global, giving us a match in winning that experience, in winning that consumer confidence. We've also built a very strong distribution. We already had a very strong direct to consumer approach. With the acquisition of Havas, we've bought it on the premium to premium business model. We have a very strong B2B2C organization. Our brands, Norton, Avast, LifeLock and now MoneyLion are definitely household names, two of them global, giving us a match in winning that experience, in winning that consumer confidence. our brands norton avast lifelock and now moneylion are definitely household names two of them global giving us a match in winning that experience in winning that consumer confidence We've also built a very strong distribution. we've also built a very strong distribution We already had a very strong direct to consumer approach. we already had a very strong direct to consumer approach With the acquisition of Havas, we've bought it on the premium to premium business model. with the acquisition of havas we've bought it on the premium to premium business model We have a very strong B2B2C organization. we have a very strong b2b2c organization And now with ENGINE, we're adding also another two sided way to distribute our products. And then of course, as you know, we execute with discipline. I think I will take that as our trademark. One of our key growth is really our AI powered platform that we've been building. It allows us to really deliver hyper personalized experiences at scale. And now with ENGINE, we're adding also another two sided way to distribute our products. and now with engine we're adding also another two sided way to distribute our products And then of course, as you know, we execute with discipline. and then of course as you know we execute with discipline I think I will take that as our trademark. i think i will take that as our trademark One of our key growth is really our AI powered platform that we've been building. one of our key growth is really our ai powered platform that we've been building It allows us to really deliver hyper personalized experiences at scale. it allows us to really deliver hyper personalized experiences at scale We have insight over 500,000,000 endpoint, as I said, billions of signals are processed daily and AI understand our threat patterns, consumer behavior, and we just added now financial needs in real time. So this means that we now can offer the best recommendation to the customer at the right moment. And so whether it's protecting their identity, securing their data or choosing the right financial product at the right moment. So in short, for us, AI started by automating the protection, then providing the best cyber safety. Now it's really empowering our consumer to make confidently trusted decisions. We have insight over 500,000,000 endpoint, as I said, billions of signals are processed daily and AI understand our threat patterns, consumer behavior, and we just added now financial needs in real time. we have insight over 500,000,000 endpoint as i said billions of signals are processed daily and ai understand our threat patterns consumer behavior and we just added now financial needs in real time So this means that we now can offer the best recommendation to the customer at the right moment. so this means that we now can offer the best recommendation to the customer at the right moment And so whether it's protecting their identity, securing their data or choosing the right financial product at the right moment. and so whether it's protecting their identity securing their data or choosing the right financial product at the right moment So in short, for us, AI started by automating the protection, then providing the best cyber safety. so in short for us ai started by automating the protection then providing the best cyber safety Now it's really empowering our consumer to make confidently trusted decisions. now it's really empowering our consumer to make confidently trusted decisions And it's not just a future opportunity. We're already full in with this AI driven business model. We have AI capabilities that we've embedded along the customer journey for higher trust experience. From that behavioral segmentation I've talked about in the past that predicts better churn to AI powered scam assistant Genie that we now extend into all of our assets or sentiment AI in our reputation overall that helps you manage your reputation and strengthen it. And now we have AI driven product recommendation, but with the addition of MoneyLion and the engine and Spark capabilities, we feel that really we're able to offer even better recommendation at the best moment for the customer. And it's not just a future opportunity. and it's not just a future opportunity We're already full in with this AI driven business model. we're already full in with this ai driven business model We have AI capabilities that we've embedded along the customer journey for higher trust experience. we have ai capabilities that we've embedded along the customer journey for higher trust experience From that behavioral segmentation I've talked about in the past that predicts better churn to AI powered scam assistant Genie that we now extend into all of our assets or sentiment AI in our reputation overall that helps you manage your reputation and strengthen it. from that behavioral segmentation i've talked about in the past that predicts better churn to ai powered scam assistant genie that we now extend into all of our assets or sentiment ai in our reputation overall that helps you manage your reputation and strengthen it And now we have AI driven product recommendation, but with the addition of MoneyLion and the engine and Spark capabilities, we feel that really we're able to offer even better recommendation at the best moment for the customer. and now we have ai driven product recommendation but with the addition of moneylion and the engine and spark capabilities we feel that really we're able to offer even better recommendation at the best moment for the customer So as we bring our capabilities together, we bring the strategy together, bring the assets we've built together into those two segments, we really have narrowed our focus on key growth bets for the next chapter that we've just entered. Obviously, cyber safety remains our foundation. We'll continue to innovate to stay ahead of this evolving threat landscape on a global basis. Trusted solutions already empower consumer around their identity, reputation and financial wellness. In those two segments, each one of our category, we offer number one or number two product features into the marketplace. So as we bring our capabilities together, we bring the strategy together, bring the assets we've built together into those two segments, we really have narrowed our focus on key growth bets for the next chapter that we've just entered. so as we bring our capabilities together we bring the strategy together bring the assets we've built together into those two segments we really have narrowed our focus on key growth bets for the next chapter that we've just entered Obviously, cyber safety remains our foundation. obviously cyber safety remains our foundation We'll continue to innovate to stay ahead of this evolving threat landscape on a global basis. we'll continue to innovate to stay ahead of this evolving threat landscape on a global basis Trusted solutions already empower consumer around their identity, reputation and financial wellness. trusted solutions already empower consumer around their identity reputation and financial wellness In those two segments, each one of our category, we offer number one or number two product features into the marketplace. in those two segments each one of our category we offer number one or number two product features into the marketplace And that's nothing new for us. You'll see us continue to innovate and adding features and adding capabilities in those two. Of course, looking ahead, we want to invest into our dynamic network of partners to extend the reach to the customers and bring now third party product. We had always offered our best in class first party product. But with this dynamic partnered network and the marketplace concept, we're able to increase the value to the customers. And that's nothing new for us. and that's nothing new for us You'll see us continue to innovate and adding features and adding capabilities in those two. you'll see us continue to innovate and adding features and adding capabilities in those two Of course, looking ahead, we want to invest into our dynamic network of partners to extend the reach to the customers and bring now third party product. of course looking ahead we want to invest into our dynamic network of partners to extend the reach to the customers and bring now third party product We had always offered our best in class first party product. we had always offered our best in class first party product But with this dynamic partnered network and the marketplace concept, we're able to increase the value to the customers. but with this dynamic partnered network and the marketplace concept we're able to increase the value to the customers And at the same time, our AI platform continues to be enriched and will offer even better personalized guidance decision making for better decision. And finally, we'll continue to invest in moving internationally. You know that has been a growth factor for us on the cyber safety side. As we continue to integrate the full stack of features from cyber safety to trusted based solutions, we'll expand that into targeted countries as we go. Now to conclude, we moved from point product to a cyber safety platform now to an ecosystem. And at the same time, our AI platform continues to be enriched and will offer even better personalized guidance decision making for better decision. and at the same time our ai platform continues to be enriched and will offer even better personalized guidance decision making for better decision And finally, we'll continue to invest in moving internationally. and finally we'll continue to invest in moving internationally You know that has been a growth factor for us on the cyber safety side. you know that has been a growth factor for us on the cyber safety side As we continue to integrate the full stack of features from cyber safety to trusted based solutions, we'll expand that into targeted countries as we go. as we continue to integrate the full stack of features from cyber safety to trusted based solutions we'll expand that into targeted countries as we go Now to conclude, we moved from point product to a cyber safety platform now to an ecosystem. now to conclude we moved from point product to a cyber safety platform now to an ecosystem An ecosystem powered by this AI platform, a strong first party portfolio of products and a growing partner that can supplement with new products and added value for the customers. And so our strategic priorities will create this growth cycle where we have more users, which provide smarter insights, better product, stronger trust, higher scale, and that's the Gen ecosystem. So we're not just protecting consumers, we're now empowering them with confidence, choice and controls in their digital life, and that's what will unlock the next chapter of Gen growth. So not to be overdone by Rick in his video, I've reshot the video I started the presentation able An ecosystem powered by this AI platform, a strong first party portfolio of products and a growing partner that can supplement with new products and added value for the customers. an ecosystem powered by this ai platform a strong first party portfolio of products and a growing partner that can supplement with new products and added value for the customers And so our strategic priorities will create this growth cycle where we have more users, which provide smarter insights, better product, stronger trust, higher scale, and that's the Gen ecosystem. and so our strategic priorities will create this growth cycle where we have more users which provide smarter insights better product stronger trust higher scale and that's the gen ecosystem So we're not just protecting consumers, we're now empowering them with confidence, choice and controls in their digital life, and that's what will unlock the next chapter of Gen growth. so we're not just protecting consumers we're now empowering them with confidence choice and controls in their digital life and that's what will unlock the next chapter of gen growth So not to be overdone by Rick in his video, I've reshot the video I started the presentation able so not to be overdone by rick in his video i've reshot the video i started the presentation able

Speaker 2: to our We're deliver deliver able make to we're but also when it's wonderful, like when you start fresh. Say I do. Take a leap and plan for future moments because real financial wellness is about having the freedom to live the life you want. GEM, the freedom to live. to our We're deliver deliver able make to we're but also when it's wonderful, like when you start fresh. to our we're deliver deliver able make to we're but also when it's wonderful like when you start fresh Say I do. say i do Take a leap and plan for future moments because real financial wellness is about having the freedom to live the life you want. take a leap and plan for future moments because real financial wellness is about having the freedom to live the life you want GEM, the freedom to live. gem the freedom to live

Speaker 1: Thank you. I will invite now my fellow here to join on stage, plus Natalie, our CFO. Most of you, of course, know Natalie. And we'll go into questions. Saket, you're the first one to raise your hand. Thank you. thank you I will invite now my fellow here to join on stage, plus Natalie, our CFO. i will invite now my fellow here to join on stage plus natalie our cfo Most of you, of course, know Natalie. most of you of course know natalie And we'll go into questions. and we'll go into questions Saket, you're the first one to raise your hand. saket you're the first one to raise your hand We're going to give you the mic. Yes, here. Yes. Okay. Perfect. We're going to give you the mic. we're going to give you the mic Yes, here. yes here Yes. yes Okay. okay Perfect. perfect

Speaker 6: Thanks. Hey, everybody. Saket Kalia from Barclays. Thanks a ton for hosting this session. Really helpful, really educational, particularly from the whole group here. Thanks. thanks Hey, everybody. hey everybody Saket Kalia from Barclays. saket kalia from barclays Thanks a ton for hosting this session. thanks a ton for hosting this session Really helpful, really educational, particularly from the whole group here. really helpful really educational particularly from the whole group here Vincent, maybe this is a question for you. So when Moneyline was public, about a third of it, I think, was coming from enterprise, right? You guys correct me there if I'm wrong. And I'm going to use that as sort of a proxy for the network, right? And the value there is clear. Vincent, maybe this is a question for you. vincent maybe this is a question for you So when Moneyline was public, about a third of it, I think, was coming from enterprise, right? so when moneyline was public about a third of it i think was coming from enterprise right You guys correct me there if I'm wrong. you guys correct me there if i'm wrong And I'm going to use that as sort of a proxy for the network, right? and i'm going to use that as sort of a proxy for the network right And the value there is clear. and the value there is clear It was a thirty, sixty, 90, that great triangle. That was awesome. Maybe the question, Vincent, for you is how do you think about the future of the other two thirds of the business, right? There was a growing subscription component there really changed around the Norton business, right, with subscription. Maybe that's part of it. It was a thirty, sixty, 90, that great triangle. it was a thirty sixty 90 that great triangle That was awesome. that was awesome Maybe the question, Vincent, for you is how do you think about the future of the other two thirds of the business, right? maybe the question vincent for you is how do you think about the future of the other two thirds of the business right There was a growing subscription component there really changed around the Norton business, right, with subscription. there was a growing subscription component there really changed around the norton business right with subscription Maybe that's part of it. maybe that's part of it But how does that mix of the business between that twothree and onethree change over time? But how does that mix of the business between that twothree and onethree change over time? but how does that mix of the business between that twothree and onethree change over time

Speaker 1: Yes. And I'm going to bring about the first onethree, but let me talk about first the marketplace. It was about onethree in MoneyLion, but they were roughly around 40%. So it's faster growing. We've delivered threefour in a row now at 50% growth rate in the engine. Yes. yes And I'm going to bring about the first onethree, but let me talk about first the marketplace. and i'm going to bring about the first onethree but let me talk about first the marketplace It was about onethree in MoneyLion, but they were roughly around 40%. it was about onethree in moneylion but they were roughly around 40% So it's faster growing. so it's faster growing We've delivered threefour in a row now at 50% growth rate in the engine. we've delivered threefour in a row now at 50% growth rate in the engine I think it's a fantastic capability, not only to bring financial wellness advice and decision making into the Gen asset, but as you've heard from Tim, bringing that into other people to go and reach out to the customers. Especially in the days where the SEO is a little bit like question, what happened with AI? This is the perfect reach engine to go and provide the product you need. We definitely will continue to invest in that, expand maybe even beyond wellness and really use the engine as the marketplace for us to provide best decisions in various trusted solutions. Now when it comes to the other part of the portfolio of MoneyLion, it's the best in class first party financial management app that offers the richest set of features from basic credits, build up in cash management all the way to investing capabilities. I think it's a fantastic capability, not only to bring financial wellness advice and decision making into the Gen asset, but as you've heard from Tim, bringing that into other people to go and reach out to the customers. i think it's a fantastic capability not only to bring financial wellness advice and decision making into the gen asset but as you've heard from tim bringing that into other people to go and reach out to the customers Especially in the days where the SEO is a little bit like question, what happened with AI? especially in the days where the seo is a little bit like question what happened with ai This is the perfect reach engine to go and provide the product you need. this is the perfect reach engine to go and provide the product you need We definitely will continue to invest in that, expand maybe even beyond wellness and really use the engine as the marketplace for us to provide best decisions in various trusted solutions. we definitely will continue to invest in that expand maybe even beyond wellness and really use the engine as the marketplace for us to provide best decisions in various trusted solutions Now when it comes to the other part of the portfolio of MoneyLion, it's the best in class first party financial management app that offers the richest set of features from basic credits, build up in cash management all the way to investing capabilities. now when it comes to the other part of the portfolio of moneylion it's the best in class first party financial management app that offers the richest set of features from basic credits build up in cash management all the way to investing capabilities The business was essentially transaction based in terms of its revenue view. And as you know, in Adyen, we've built a lot of membership. We moved from point products to membership structure, and we'll continue to develop new membership and develop the business model into membership view there. We've had strong growth rate in that area, too. But at this point, DiamondGen is growing faster. The business was essentially transaction based in terms of its revenue view. the business was essentially transaction based in terms of its revenue view And as you know, in Adyen, we've built a lot of membership. and as you know in adyen we've built a lot of membership We moved from point products to membership structure, and we'll continue to develop new membership and develop the business model into membership view there. we moved from point products to membership structure and we'll continue to develop new membership and develop the business model into membership view there We've had strong growth rate in that area, too. we've had strong growth rate in that area too But at this point, DiamondGen is growing faster. but at this point diamondgen is growing faster

Speaker 7: Thanks. Bob Kulbith from Evercore. Thank you again for the day. Can you just this is primarily for Tim, but anyone else wants to weigh in as well. Can you just sort of take us through the decision framework that takes place in terms of 1P versus 3P offers, again, through that lens of thirty-sixty-ninety? Thanks. thanks Bob Kulbith from Evercore. bob kulbith from evercore Thank you again for the day. thank you again for the day Can you just this is primarily for Tim, but anyone else wants to weigh in as well. can you just this is primarily for tim but anyone else wants to weigh in as well Can you just sort of take us through the decision framework that takes place in terms of 1P versus 3P offers, again, through that lens of thirty-sixty-ninety? can you just sort of take us through the decision framework that takes place in terms of 1p versus 3p offers again through that lens of thirty-sixty-ninety Just what sort of drives the framework? And then given management's prior comments around Q2, we're making some changes within PFM. I assume that plays out as a higher share of customer acquisition directed to 3P offers. But maybe could you just sort of tell us how that plays out? Do you change the decision framework at all to change the end result? Just what sort of drives the framework? just what sort of drives the framework And then given management's prior comments around Q2, we're making some changes within PFM. and then given management's prior comments around q2 we're making some changes within pfm I assume that plays out as a higher share of customer acquisition directed to 3P offers. i assume that plays out as a higher share of customer acquisition directed to 3p offers But maybe could you just sort of tell us how that plays out? but maybe could you just sort of tell us how that plays out Do you change the decision framework at all to change the end result? do you change the decision framework at all to change the end result

Speaker 4: Well, I think as Rick mentioned, we have this really highly differentiated set of first party products, right? And the first place our marketplace went was those adjacent products that really help our customer throughout potentially around first party products we don't offer. And so that's really the genesis of the marketplace, being able to identify those needs where we can have a robust sort of comparison and marketplace for areas where we don't have those first party products, right? And I think that's our philosophy to make sure we keep that customer kind of throughout their journey. Well, I think as Rick mentioned, we have this really highly differentiated set of first party products, right? well i think as rick mentioned we have this really highly differentiated set of first party products right And the first place our marketplace went was those adjacent products that really help our customer throughout potentially around first party products we don't offer. and the first place our marketplace went was those adjacent products that really help our customer throughout potentially around first party products we don't offer And so that's really the genesis of the marketplace, being able to identify those needs where we can have a robust sort of comparison and marketplace for areas where we don't have those first party products, right? and so that's really the genesis of the marketplace being able to identify those needs where we can have a robust sort of comparison and marketplace for areas where we don't have those first party products right And I think that's our philosophy to make sure we keep that customer kind of throughout their journey. and i think that's our philosophy to make sure we keep that customer kind of throughout their journey

Speaker 1: If I can add there, definitely, the marketplace will offer visibility of the consumer needs on a much broader spectrum. We know there are some products we'll never get into. We're not going to become a mortgage company or a lending company. And so there, we will offer it. It will be a third party product. If I can add there, definitely, the marketplace will offer visibility of the consumer needs on a much broader spectrum. if i can add there definitely the marketplace will offer visibility of the consumer needs on a much broader spectrum We know there are some products we'll never get into. we know there are some products we'll never get into We're not going to become a mortgage company or a lending company. we're not going to become a mortgage company or a lending company And so there, we will offer it. and so there we will offer it It will be a third party product. it will be a third party product We know the consumer needs. The other product we could consider. LifeLock customers kept asking us about wheel riding or estate planning. We don't have that. We may offer that first as a third party product and later on decide that it can become an in house. We know the consumer needs. we know the consumer needs The other product we could consider. the other product we could consider LifeLock customers kept asking us about wheel riding or estate planning. lifelock customers kept asking us about wheel riding or estate planning We don't have that. we don't have that We may offer that first as a third party product and later on decide that it can become an in house. we may offer that first as a third party product and later on decide that it can become an in house And so we're going to have that constant view around what we can offer. When we bring as first party product, we want to have the conviction. We can be number one in that market category, and we're going to focus on that. And so we're going to have that constant view around what we can offer. and so we're going to have that constant view around what we can offer When we bring as first party product, we want to have the conviction. when we bring as first party product we want to have the conviction We can be number one in that market category, and we're going to focus on that. we can be number one in that market category and we're going to focus on that

Speaker 8: Andy Nowinski, Wells Fargo. Great job today. This is really helpful. So I wanted to ask a question on the cross sell opportunity. The 30% margin that you talked about getting when a channel partner brings a customer to Gen, I think, is interesting. Andy Nowinski, Wells Fargo. andy nowinski wells fargo Great job today. great job today This is really helpful. this is really helpful So I wanted to ask a question on the cross sell opportunity. so i wanted to ask a question on the cross sell opportunity The 30% margin that you talked about getting when a channel partner brings a customer to Gen, I think, is interesting. the 30% margin that you talked about getting when a channel partner brings a customer to gen i think is interesting But a lot of investors are certainly more interested in that cross sell where and what you're seeing there because I think the cross sell opportunity represents a significantly higher margin than 30%. So just wondering if you could maybe talk about what you're seeing from that perspective. But a lot of investors are certainly more interested in that cross sell where and what you're seeing there because I think the cross sell opportunity represents a significantly higher margin than 30%. but a lot of investors are certainly more interested in that cross sell where and what you're seeing there because i think the cross sell opportunity represents a significantly higher margin than 30% So just wondering if you could maybe talk about what you're seeing from that perspective. so just wondering if you could maybe talk about what you're seeing from that perspective

Speaker 3: I just want to talk about within the marketplace and then talk about the synergies with Gen. Yes. So the 30% channel is incredibly important, as we talked about, because we're able to bring in those three fifty million inquiries. And then, of course, these are transactions that are not all just being memorialized at that point in time. A customer may not be ready to take that mortgage. They may not be ready to take that $10,000 personal loan or the insurance. And so what we're doing is we are retargeting those three fifty million inquiries at a point in time and using the data view that we have most likely have with that customer to be able to cross sell them into either the initial intent product that they had or other products that can offer them. And so what we've been seeing is tremendous success around that, particularly when a customer has a first party product with us. I just want to talk about within the marketplace and then talk about the synergies with Gen. i just want to talk about within the marketplace and then talk about the synergies with gen Yes. yes So the 30% channel is incredibly important, as we talked about, because we're able to bring in those three fifty million inquiries. so the 30% channel is incredibly important as we talked about because we're able to bring in those three fifty million inquiries And then, of course, these are transactions that are not all just being memorialized at that point in time. and then of course these are transactions that are not all just being memorialized at that point in time A customer may not be ready to take that mortgage. a customer may not be ready to take that mortgage They may not be ready to take that $10,000 personal loan or the insurance. they may not be ready to take that $10,000 personal loan or the insurance And so what we're doing is we are retargeting those three fifty million inquiries at a point in time and using the data view that we have most likely have with that customer to be able to cross sell them into either the initial intent product that they had or other products that can offer them. and so what we're doing is we are retargeting those three fifty million inquiries at a point in time and using the data view that we have most likely have with that customer to be able to cross sell them into either the initial intent product that they had or other products that can offer them And so what we've been seeing is tremendous success around that, particularly when a customer has a first party product with us. and so what we've been seeing is tremendous success around that particularly when a customer has a first party product with us We have an extremely high take rate for them taking the third party product. So when I say that the fastest growing part of our business is the 90% margin, it's being driven by those two drivers: first party customers being able to be surrounded by the right third party products and then coming in through that 30% channel and us retargeting them at a later time and life cycling them. We have an extremely high take rate for them taking the third party product. we have an extremely high take rate for them taking the third party product So when I say that the fastest growing part of our business is the 90% margin, it's being driven by those two drivers: first party customers being able to be surrounded by the right third party products and then coming in through that 30% channel and us retargeting them at a later time and life cycling them. so when i say that the fastest growing part of our business is the 90% margin it's being driven by those two drivers first party customers being able to be surrounded by the right third party products and then coming in through that 30% channel and us retargeting them at a later time and life cycling them

Speaker 1: The way I look at it, Andy, is we have acquisition doors into our portfolio. A customer comes with a security mindset or need to protect an identity. Or in this case, at the 30% margin, as you call that channel, a need for a financial product. And we'll play the long game. We'll really have the right entry doors for our portfolio, and you know we have many. The way I look at it, Andy, is we have acquisition doors into our portfolio. the way i look at it andy is we have acquisition doors into our portfolio A customer comes with a security mindset or need to protect an identity. a customer comes with a security mindset or need to protect an identity Or in this case, at the 30% margin, as you call that channel, a need for a financial product. or in this case at the 30% margin as you call that channel a need for a financial product And we'll play the long game. and we'll play the long game We'll really have the right entry doors for our portfolio, and you know we have many. we'll really have the right entry doors for our portfolio and you know we have many This is a new one that we added. And once a customer is being touched by us, we'll make sure we offer the best value, starting to move from transactional to subscription, starting to add it more value. You know that on the Northern side, we've increased our cross sell from zero, five years ago to now 25% penetration. We'll play the long game, and we're planning to drive that. We have 500,000,000 users here that have not been exposed to our marketplace. This is a new one that we added. this is a new one that we added And once a customer is being touched by us, we'll make sure we offer the best value, starting to move from transactional to subscription, starting to add it more value. and once a customer is being touched by us we'll make sure we offer the best value starting to move from transactional to subscription starting to add it more value You know that on the Northern side, we've increased our cross sell from zero, five years ago to now 25% penetration. you know that on the northern side we've increased our cross sell from zero five years ago to now 25% penetration We'll play the long game, and we're planning to drive that. we'll play the long game and we're planning to drive that We have 500,000,000 users here that have not been exposed to our marketplace. we have 500,000,000 users here that have not been exposed to our marketplace And the most natural immediate place would be the marketplace into the LifeLock applications to really meet Liza's needs that Trace mentioned. And the most natural immediate place would be the marketplace into the LifeLock applications to really meet Liza's needs that Trace mentioned. and the most natural immediate place would be the marketplace into the lifelock applications to really meet liza's needs that trace mentioned

Speaker 9: Awesome. Roger Boire with UBS. Thank you again for the data. It's really helpful. I wanted to go back to the competitive matrix slide you shared earlier. Awesome. awesome Roger Boire with UBS. roger boire with ubs Thank you again for the data. thank you again for the data It's really helpful. it's really helpful I wanted to go back to the competitive matrix slide you shared earlier. i wanted to go back to the competitive matrix slide you shared earlier I thought that was really helpful in showing kind of the converging markets with traditional financial institutions, emerging fintech, cyber safety platforms like yourselves. Maybe for Rich or Tim, how do you think about the appetite for MoneyLion customers for some of these additional cyber safety products? And I know before the acquisition, you had offers through the marketplace around fraud detection and monitoring. How do you think about kind of that cross sell element? I thought that was really helpful in showing kind of the converging markets with traditional financial institutions, emerging fintech, cyber safety platforms like yourselves. i thought that was really helpful in showing kind of the converging markets with traditional financial institutions emerging fintech cyber safety platforms like yourselves Maybe for Rich or Tim, how do you think about the appetite for MoneyLion customers for some of these additional cyber safety products? maybe for rich or tim how do you think about the appetite for moneylion customers for some of these additional cyber safety products And I know before the acquisition, you had offers through the marketplace around fraud detection and monitoring. and i know before the acquisition you had offers through the marketplace around fraud detection and monitoring How do you think about kind of that cross sell element? how do you think about kind of that cross sell element

Speaker 3: Yes. I can start. And then, Tim, if you want to add anything. So what is really powerful about what we are doing now together is that we are creating this new secure financial wellness segment. And so in fact, these things haven't been brought together. Yes. yes I can start. i can start And then, Tim, if you want to add anything. and then tim if you want to add anything So what is really powerful about what we are doing now together is that we are creating this new secure financial wellness segment. so what is really powerful about what we are doing now together is that we are creating this new secure financial wellness segment And so in fact, these things haven't been brought together. and so in fact these things haven't been brought together The thing that people are protecting when they're thinking about financial transactions, they're protecting their finances. And so inherently, to be able to bring an added level of security and trust is going to drive more conversions. We see that today. If you're within our MoneyLion consumer app, the highest conversion we get is when someone feels safe that they can take a third party product because we've integrated and personalized that offer with an app. And so now to be able to do that across the entire platform gives us even more encouragement around really defining a completely different secure customer experience so they actually can start to benefit from all of the different advancements that have been within FinTech but actually haven't been taken advantage of by the average consumer. The thing that people are protecting when they're thinking about financial transactions, they're protecting their finances. the thing that people are protecting when they're thinking about financial transactions they're protecting their finances And so inherently, to be able to bring an added level of security and trust is going to drive more conversions. and so inherently to be able to bring an added level of security and trust is going to drive more conversions We see that today. we see that today If you're within our MoneyLion consumer app, the highest conversion we get is when someone feels safe that they can take a third party product because we've integrated and personalized that offer with an app. if you're within our moneylion consumer app the highest conversion we get is when someone feels safe that they can take a third party product because we've integrated and personalized that offer with an app And so now to be able to do that across the entire platform gives us even more encouragement around really defining a completely different secure customer experience so they actually can start to benefit from all of the different advancements that have been within FinTech but actually haven't been taken advantage of by the average consumer. and so now to be able to do that across the entire platform gives us even more encouragement around really defining a completely different secure customer experience so they actually can start to benefit from all of the different advancements that have been within fintech but actually haven't been taken advantage of by the average consumer

Speaker 4: I'll just add to that. What we've seen in our user base is tremendous demand for these services. When we look at some of the content feed as an example, there's quizzes where we're engaging folks in how to learn more about protecting themselves. Those quizzes engage at higher levels than anything else that we have. And so I think that's the part of the thesis is that putting those two things together is what customers want. I'll just add to that. i'll just add to that What we've seen in our user base is tremendous demand for these services. what we've seen in our user base is tremendous demand for these services When we look at some of the content feed as an example, there's quizzes where we're engaging folks in how to learn more about protecting themselves. when we look at some of the content feed as an example there's quizzes where we're engaging folks in how to learn more about protecting themselves Those quizzes engage at higher levels than anything else that we have. those quizzes engage at higher levels than anything else that we have And so I think that's the part of the thesis is that putting those two things together is what customers want. and so i think that's the part of the thesis is that putting those two things together is what customers want

Speaker 1: I can add a couple of things I wanted to in my head is, many of you have asked is what does moving to membership means? And when we see customer buying a mortgage and having different needs, we have a lot of product can offer. What about the home title lock that is in our Northern 360? What about credit monitoring? Or a restoration agent that Travis mentioned, all of that will be part of that over time incremental value we will bring to all of our customers. I can add a couple of things I wanted to in my head is, many of you have asked is what does moving to membership means? i can add a couple of things i wanted to in my head is many of you have asked is what does moving to membership means And when we see customer buying a mortgage and having different needs, we have a lot of product can offer. and when we see customer buying a mortgage and having different needs we have a lot of product can offer What about the home title lock that is in our Northern 360? what about the home title lock that is in our northern 360 What about credit monitoring? what about credit monitoring Or a restoration agent that Travis mentioned, all of that will be part of that over time incremental value we will bring to all of our customers. or a restoration agent that travis mentioned all of that will be part of that over time incremental value we will bring to all of our customers

Speaker 10: Tomer Zilberman, Bank of America. Maybe two questions for you. As you think about first party versus third party products, how important is it to be competitive on rates like APR, APY? Is it something that you can be a little bit more favorable for yourselves because you have the integrated marketplace? Or is it something that you see as very competitive? Tomer Zilberman, Bank of America. tomer zilberman bank of america Maybe two questions for you. maybe two questions for you As you think about first party versus third party products, how important is it to be competitive on rates like APR, APY? as you think about first party versus third party products how important is it to be competitive on rates like apr apy Is it something that you can be a little bit more favorable for yourselves because you have the integrated marketplace? is it something that you can be a little bit more favorable for yourselves because you have the integrated marketplace Or is it something that you see as very competitive? or is it something that you see as very competitive

Speaker 3: Yes, I'll kick it off. So when it comes to being competitive, this is the benefit of authentically having both first party and third party products. So where we're the winning solution from an APR or an API perspective, if we're the winning solution, then the customer benefits. If not, we're able to offer the customer a full array of third party products. And as Tim kind of went through extensively, by being able to kind of host underwriting models, being able to kind of host unique data sets and put those together to give the customer the best APR solution out there is unlike any other solution in the marketplace. Yes, I'll kick it off. yes i'll kick it off So when it comes to being competitive, this is the benefit of authentically having both first party and third party products. so when it comes to being competitive this is the benefit of authentically having both first party and third party products So where we're the winning solution from an APR or an API perspective, if we're the winning solution, then the customer benefits. so where we're the winning solution from an apr or an api perspective if we're the winning solution then the customer benefits If not, we're able to offer the customer a full array of third party products. if not we're able to offer the customer a full array of third party products And as Tim kind of went through extensively, by being able to kind of host underwriting models, being able to kind of host unique data sets and put those together to give the customer the best APR solution out there is unlike any other solution in the marketplace. and as tim kind of went through extensively by being able to kind of host underwriting models being able to kind of host unique data sets and put those together to give the customer the best apr solution out there is unlike any other solution in the marketplace And so we benefit from being on both sides of the first party and third party products, unlike many competitors that they're only going to keep promoting their first party products or they're going to put whatever marketplace offer that they have available to you at the time. And so we benefit from being on both sides of the first party and third party products, unlike many competitors that they're only going to keep promoting their first party products or they're going to put whatever marketplace offer that they have available to you at the time. and so we benefit from being on both sides of the first party and third party products unlike many competitors that they're only going to keep promoting their first party products or they're going to put whatever marketplace offer that they have available to you at the time

Speaker 10: Is there any deeper insights to using first party things that you can leverage AI more than third party? Is there any deeper insights to using first party things that you can leverage AI more than third party? is there any deeper insights to using first party things that you can leverage ai more than third party

Speaker 3: I think I love this question because when we talk about first party, think it's really important to think about the PFM and what we're doing with the customer. When I talked about those insights and things that we have, customers are linking their accounts to us. And so the first thing that we're able to do is to help them think through the types of products that they should be considering. So yes, we absolutely have a significant benefit by having a PFM relationship with a customer where we're getting a considerable amount of data to be able to help them choose the right first party or third party products. I think I love this question because when we talk about first party, think it's really important to think about the PFM and what we're doing with the customer. i think i love this question because when we talk about first party think it's really important to think about the pfm and what we're doing with the customer When I talked about those insights and things that we have, customers are linking their accounts to us. when i talked about those insights and things that we have customers are linking their accounts to us And so the first thing that we're able to do is to help them think through the types of products that they should be considering. and so the first thing that we're able to do is to help them think through the types of products that they should be considering So yes, we absolutely have a significant benefit by having a PFM relationship with a customer where we're getting a considerable amount of data to be able to help them choose the right first party or third party products. so yes we absolutely have a significant benefit by having a pfm relationship with a customer where we're getting a considerable amount of data to be able to help them choose the right first party or third party products

Speaker 10: Got it. If I can sneak in one more, Jason. You talked about your products that are in times of excess, the products that are in times of need. Do you see different growth profiles on each? Or is it more broad based? Got it. got it If I can sneak in one more, Jason. if i can sneak in one more jason You talked about your products that are in times of excess, the products that are in times of need. you talked about your products that are in times of excess the products that are in times of need Do you see different growth profiles on each? do you see different growth profiles on each Or is it more broad based? or is it more broad based And the reason I'm asking is I think you talked about a 30% average growth rate. The last quarter, you're kind of in excess of 40% for Moneyline. So the question is, is there better growth on the in times of need products? And the reason I'm asking is I think you talked about a 30% average growth rate. and the reason i'm asking is i think you talked about a 30% average growth rate The last quarter, you're kind of in excess of 40% for Moneyline. the last quarter you're kind of in excess of 40% for moneyline So the question is, is there better growth on the in times of need products? so the question is is there better growth on the in times of need products

Speaker 4: I would say, if I could just add, so one of the customer insights that we have is that customers lead incredibly dynamic financial lives. So being there both in times of need and excess, it's the same customer going through that journey. As Rick mentioned, sometimes there's financial shocks, both positive and negative. And being able to be there throughout that entire journey is what drives that LTV. So it's hard to decouple those two things because it's the same user going through that and we want to maintain that relationship. Yes. I would say, if I could just add, so one of the customer insights that we have is that customers lead incredibly dynamic financial lives. i would say if i could just add so one of the customer insights that we have is that customers lead incredibly dynamic financial lives So being there both in times of need and excess, it's the same customer going through that journey. so being there both in times of need and excess it's the same customer going through that journey As Rick mentioned, sometimes there's financial shocks, both positive and negative. as rick mentioned sometimes there's financial shocks both positive and negative And being able to be there throughout that entire journey is what drives that LTV. and being able to be there throughout that entire journey is what drives that ltv So it's hard to decouple those two things because it's the same user going through that and we want to maintain that relationship. so it's hard to decouple those two things because it's the same user going through that and we want to maintain that relationship Yes. yes

Speaker 3: I would say there really hasn't if you think about the platform, we've gone through multiple cycles delivering to a breadth of different customer profiles. And so during a rising rate environment, we saw significant demand for yield type of accounts. We saw less demand for personal loans. As the macro environment shifted back, we're starting to see that kind of increase. We also have people's rates resetting. I would say there really hasn't if you think about the platform, we've gone through multiple cycles delivering to a breadth of different customer profiles. i would say there really hasn't if you think about the platform we've gone through multiple cycles delivering to a breadth of different customer profiles And so during a rising rate environment, we saw significant demand for yield type of accounts. and so during a rising rate environment we saw significant demand for yield type of accounts We saw less demand for personal loans. we saw less demand for personal loans As the macro environment shifted back, we're starting to see that kind of increase. as the macro environment shifted back we're starting to see that kind of increase We also have people's rates resetting. we also have people's rates resetting So you've seen a lot of demand on personal loans, HELOCs, mortgages, insurance. And so we tend to kind of benefit from being a platform. And so whether it's in times of excess or times of need, we've consistently been delivering over 30% growth. So you've seen a lot of demand on personal loans, HELOCs, mortgages, insurance. so you've seen a lot of demand on personal loans helocs mortgages insurance And so we tend to kind of benefit from being a platform. and so we tend to kind of benefit from being a platform And so whether it's in times of excess or times of need, we've consistently been delivering over 30% growth. and so whether it's in times of excess or times of need we've consistently been delivering over 30% growth

Speaker 9: I'll just ask another one. I was impressed by the strength of the marketing technology that Moneyline has in terms of some of the attempts to engage a younger demographic and use TikTok. And I'm just curious, Vincent, how do you think about the ability to augment what is already, I think, a pretty strong marketing program? Is that something you think about in terms of engaging younger demographics? I'll just ask another one. i'll just ask another one I was impressed by the strength of the marketing technology that Moneyline has in terms of some of the attempts to engage a younger demographic and use TikTok. i was impressed by the strength of the marketing technology that moneyline has in terms of some of the attempts to engage a younger demographic and use tiktok And I'm just curious, Vincent, how do you think about the ability to augment what is already, I think, a pretty strong marketing program? and i'm just curious vincent how do you think about the ability to augment what is already i think a pretty strong marketing program Is that something you think about in terms of engaging younger demographics? is that something you think about in terms of engaging younger demographics

Speaker 1: Short answer is yes. And I'll pass it to Travis, who has been our Chief Commercial Officer and will tell you how he's been to leverage all of that. Short answer is yes. short answer is yes And I'll pass it to Travis, who has been our Chief Commercial Officer and will tell you how he's been to leverage all of that. and i'll pass it to travis who has been our chief commercial officer and will tell you how he's been to leverage all of that

Speaker 5: Well, I mean, Tim mentioned that the snackable content, it's really important for every category that we're in, not just the financial products. Being able to explain these complex things that happen on the threat landscape in a way and in a communication that the people are used to, it's a vital part of what our future will be. You will see much more of that type of capability going across the entire portfolio, making it comprehensible what the people are facing really in the threat landscape that we have today. It's great stuff, actually. The feed is fantastic. Well, I mean, Tim mentioned that the snackable content, it's really important for every category that we're in, not just the financial products. well i mean tim mentioned that the snackable content it's really important for every category that we're in not just the financial products Being able to explain these complex things that happen on the threat landscape in a way and in a communication that the people are used to, it's a vital part of what our future will be. being able to explain these complex things that happen on the threat landscape in a way and in a communication that the people are used to it's a vital part of what our future will be You will see much more of that type of capability going across the entire portfolio, making it comprehensible what the people are facing really in the threat landscape that we have today. you will see much more of that type of capability going across the entire portfolio making it comprehensible what the people are facing really in the threat landscape that we have today It's great stuff, actually. it's great stuff actually The feed is fantastic. the feed is fantastic

Speaker 11: Hal Gesh from B. Riley. My question is on the integration of MoneyLion and the full platform. Moneyline barely grew its advertising and marketing spend over a four year period, but grew very, very fast. I was just a question, Gen Digital is a much bigger company, much bigger voice in the market. Hal Gesh from B. hal gesh from b Riley. riley My question is on the integration of MoneyLion and the full platform. my question is on the integration of moneylion and the full platform Moneyline barely grew its advertising and marketing spend over a four year period, but grew very, very fast. moneyline barely grew its advertising and marketing spend over a four year period but grew very very fast I was just a question, Gen Digital is a much bigger company, much bigger voice in the market. i was just a question gen digital is a much bigger company much bigger voice in the market What are you what is your voice in the market scale is bringing to MoneyLion to kind of grow it even maybe at a better pace or add more users? Thank you. What are you what is your voice in the market scale is bringing to MoneyLion to kind of grow it even maybe at a better pace or add more users? what are you what is your voice in the market scale is bringing to moneylion to kind of grow it even maybe at a better pace or add more users Thank you. thank you

Speaker 1: I think it has really two things. First of all, it brings an installed base of 500,000,000 users. That have been many of them asking for more insight into what to do with their data. And I think here, we're going to be able to enhance. We also bring an overall trust element, if you want, into the discussions. I think it has really two things. i think it has really two things First of all, it brings an installed base of 500,000,000 users. first of all it brings an installed base of 500,000,000 users That have been many of them asking for more insight into what to do with their data. that have been many of them asking for more insight into what to do with their data And I think here, we're going to be able to enhance. and i think here we're going to be able to enhance We also bring an overall trust element, if you want, into the discussions. we also bring an overall trust element if you want into the discussions While MoneyLion has been a fantastic grower, as you know, in fintech, a lot of those assets are lacking the component of trust. And we bring here that legitimate trust based on real value delivered financial for tracking cyber safety agent. I think that's going to help us create this new category, secure financial wellness, which hopefully will stand apart. While MoneyLion has been a fantastic grower, as you know, in fintech, a lot of those assets are lacking the component of trust. while moneylion has been a fantastic grower as you know in fintech a lot of those assets are lacking the component of trust And we bring here that legitimate trust based on real value delivered financial for tracking cyber safety agent. and we bring here that legitimate trust based on real value delivered financial for tracking cyber safety agent I think that's going to help us create this new category, secure financial wellness, which hopefully will stand apart. i think that's going to help us create this new category secure financial wellness which hopefully will stand apart

Speaker 8: Thanks. Andy again. I thought the overview of all the MoneyLion solutions was certainly was really helpful. It certainly have a lot more products and offerings I was wondering if you could give any sort of color around like where does the typical customer start when they come to MoneyLion? Thanks. thanks Andy again. andy again I thought the overview of all the MoneyLion solutions was certainly was really helpful. i thought the overview of all the moneylion solutions was certainly was really helpful It certainly have a lot more products and offerings it certainly have a lot more products and offerings I was wondering if you could give any sort of color around like where does the typical customer start when they come to MoneyLion? i was wondering if you could give any sort of color around like where does the typical customer start when they come to moneylion What do they typically spend with MoneyLion when they start the journey with you? What do they typically spend with MoneyLion when they start the journey with you? what do they typically spend with moneylion when they start the journey with you

Speaker 3: Yes. So let's break it into our so MoneyLion, when we use that term, it's a lot. And so when you look at the consumer marketplace, what we see is a lot of conversion within personal loans, with insurance and savings accounts. And then on the first party product side, what we see is a lot of conversion through first linking within the PFM and then being able to have the consumer get one of our cash management solutions and invariably banking and then with a high attachment rate third party products. So that life cycle spans from high conversion on some type of cash management, PFM, through to kind of core payments and banking and then a lot of success with the full adjacent product suite in the marketplace. Yes. yes So let's break it into our so MoneyLion, when we use that term, it's a lot. so let's break it into our so moneylion when we use that term it's a lot And so when you look at the consumer marketplace, what we see is a lot of conversion within personal loans, with insurance and savings accounts. and so when you look at the consumer marketplace what we see is a lot of conversion within personal loans with insurance and savings accounts And then on the first party product side, what we see is a lot of conversion through first linking within the PFM and then being able to have the consumer get one of our cash management solutions and invariably banking and then with a high attachment rate third party products. and then on the first party product side what we see is a lot of conversion through first linking within the pfm and then being able to have the consumer get one of our cash management solutions and invariably banking and then with a high attachment rate third party products So that life cycle spans from high conversion on some type of cash management, PFM, through to kind of core payments and banking and then a lot of success with the full adjacent product suite in the marketplace. so that life cycle spans from high conversion on some type of cash management pfm through to kind of core payments and banking and then a lot of success with the full adjacent product suite in the marketplace

Speaker 6: Saket again. The 500,000,000 users are something that keeps on coming up, and it's a very it's a big number, very compelling. But I'm trying to think if we've ever talked about this. Have we ever talked about the difference in demographics of the users between Gen and Moneyline? And if so, can you just talk about what are some of the is there any overlap? Saket again. saket again The 500,000,000 users are something that keeps on coming up, and it's a very it's a big number, very compelling. the 500,000,000 users are something that keeps on coming up and it's a very it's a big number very compelling But I'm trying to think if we've ever talked about this. but i'm trying to think if we've ever talked about this Have we ever talked about the difference in demographics of the users between Gen and Moneyline? have we ever talked about the difference in demographics of the users between gen and moneyline And if so, can you just talk about what are some of the is there any overlap? and if so can you just talk about what are some of the is there any overlap Is it completely complementary? I'm just curious if we could talk about how the demographics differ between the two. Is it completely complementary? is it completely complementary I'm just curious if we could talk about how the demographics differ between the two. i'm just curious if we could talk about how the demographics differ between the two

Speaker 5: Sure. So it's a really great question. At the end of the day, you cannot completely profile a user in the MoneyLion ecosystem separately from the Gen ecosystem, whereby they do tend to be audiences that are expanding. MoneyLion does have a bit of a younger cohort versus our cohorts. And so the opportunity is because they are just as vulnerable for cyber threats to bring cyber technologies and knowledge into that customer base, while at the same time bringing in those capabilities into our customer base who transacting financially extremely frequent because they have assets, they have the capabilities. So they are actually augmenting each other. They're growing. Sure. sure So it's a really great question. so it's a really great question At the end of the day, you cannot completely profile a user in the MoneyLion ecosystem separately from the Gen ecosystem, whereby they do tend to be audiences that are expanding. at the end of the day you cannot completely profile a user in the moneylion ecosystem separately from the gen ecosystem whereby they do tend to be audiences that are expanding MoneyLion does have a bit of a younger cohort versus our cohorts. moneylion does have a bit of a younger cohort versus our cohorts And so the opportunity is because they are just as vulnerable for cyber threats to bring cyber technologies and knowledge into that customer base, while at the same time bringing in those capabilities into our customer base who transacting financially extremely frequent because they have assets, they have the capabilities. and so the opportunity is because they are just as vulnerable for cyber threats to bring cyber technologies and knowledge into that customer base while at the same time bringing in those capabilities into our customer base who transacting financially extremely frequent because they have assets they have the capabilities So they are actually augmenting each other. so they are actually augmenting each other They're growing. they're growing

Speaker 3: Jeff Mother from Baird. Can you maybe broaden out that concept? And I guess what I'm wondering is, it's essentially like who are you competing with from each of the sides. So what characteristics are you maybe over indexed to? Like where are you in terms of prime versus subprime? Jeff Mother from Baird. jeff mother from baird Can you maybe broaden out that concept? can you maybe broaden out that concept And I guess what I'm wondering is, it's essentially like who are you competing with from each of the sides. and i guess what i'm wondering is it's essentially like who are you competing with from each of the sides So what characteristics are you maybe over indexed to? so what characteristics are you maybe over indexed to Like where are you in terms of prime versus subprime? like where are you in terms of prime versus subprime Or how do you compete against like a how do you have unique audience to sell to some of the financial products companies relative to like an Experian or an Intuit? Or yes, if you could just maybe like talk about like beyond age, what you over indexed to or under indexed to or where you'd be unique for a consumer if you're trying to cross sell them from like the cyber solutions or the LifeLock side into Moneyline? Or how do you compete against like a how do you have unique audience to sell to some of the financial products companies relative to like an Experian or an Intuit? or how do you compete against like a how do you have unique audience to sell to some of the financial products companies relative to like an experian or an intuit Or yes, if you could just maybe like talk about like beyond age, what you over indexed to or under indexed to or where you'd be unique for a consumer if you're trying to cross sell them from like the cyber solutions or the LifeLock side into Moneyline? or yes if you could just maybe like talk about like beyond age what you over indexed to or under indexed to or where you'd be unique for a consumer if you're trying to cross sell them from like the cyber solutions or the lifelock side into moneyline

Speaker 5: So if we talk about audiences, you have to remember part of MoneyLion was engine, was the marketplace, which had a completely broader set of audience users than the MoneyLion first party apps. So we already had a very rich portfolio, and we're adding to it in all directions, both categories as well as partners. And so I wouldn't say that there was over indexing in one or the other. Of course, bringing in the rich ecosystem of our user base actually expands that entire three fifty million leads that Rick was talking about that are coming into that ecosystem to the users that we first addressed, which is The U. S. User base. So if we talk about audiences, you have to remember part of MoneyLion was engine, was the marketplace, which had a completely broader set of audience users than the MoneyLion first party apps. so if we talk about audiences you have to remember part of moneylion was engine was the marketplace which had a completely broader set of audience users than the moneylion first party apps So we already had a very rich portfolio, and we're adding to it in all directions, both categories as well as partners. so we already had a very rich portfolio and we're adding to it in all directions both categories as well as partners And so I wouldn't say that there was over indexing in one or the other. and so i wouldn't say that there was over indexing in one or the other Of course, bringing in the rich ecosystem of our user base actually expands that entire three fifty million leads that Rick was talking about that are coming into that ecosystem to the users that we first addressed, which is The U. of course bringing in the rich ecosystem of our user base actually expands that entire three fifty million leads that rick was talking about that are coming into that ecosystem to the users that we first addressed which is the u S. s User base. user base

Speaker 8: Zach Gunn, Feet Partners. I wanted to ask on the Instacash product. So over the last six months, we've seen the market for EWA type products get more competitive. Cash App and Chime have more than doubled their advanced volume year over year. So first, how large of a market opportunity do you think earned wage access is? Zach Gunn, Feet Partners. zach gunn feet partners I wanted to ask on the Instacash product. i wanted to ask on the instacash product So over the last six months, we've seen the market for EWA type products get more competitive. so over the last six months we've seen the market for ewa type products get more competitive Cash App and Chime have more than doubled their advanced volume year over year. cash app and chime have more than doubled their advanced volume year over year So first, how large of a market opportunity do you think earned wage access is? so first how large of a market opportunity do you think earned wage access is And do you view it as a winner take all market? Is there room for several providers? Second, how do you think about the go to market approach? Because right now, it's primarily direct to consumer. But with all of the partners that you have, there's also the B2B2C where daily pay plays along with others. So just comments around both And do you view it as a winner take all market? and do you view it as a winner take all market Is there room for several providers? is there room for several providers Second, how do you think about the go to market approach? second how do you think about the go to market approach Because right now, it's primarily direct to consumer. because right now it's primarily direct to consumer But with all of the partners that you have, there's also the B2B2C where daily pay plays along with others. but with all of the partners that you have there's also the b2b2c where daily pay plays along with others So just comments around both so just comments around both

Speaker 5: of those would be appreciated. Thank you. of those would be appreciated. of those would be appreciated Thank you. thank you

Speaker 3: Sure. So we have a front row seat to this, right, because we operate both a first party earned wage access product as well as an earned wage access is part of one of our verticals within the marketplace. And so it certainly isn't a winner take all. Each one of the different participants within that market space have different nuances and different strategic benefits to a customer. And so what consistently we are all helping customers with is really avoiding a lot of the overdraft fees that are out in the marketplace and also being a solution for someone to help with kind of cash management issues that they have. Sure. sure So we have a front row seat to this, right, because we operate both a first party earned wage access product as well as an earned wage access is part of one of our verticals within the marketplace. so we have a front row seat to this right because we operate both a first party earned wage access product as well as an earned wage access is part of one of our verticals within the marketplace And so it certainly isn't a winner take all. and so it certainly isn't a winner take all Each one of the different participants within that market space have different nuances and different strategic benefits to a customer. each one of the different participants within that market space have different nuances and different strategic benefits to a customer And so what consistently we are all helping customers with is really avoiding a lot of the overdraft fees that are out in the marketplace and also being a solution for someone to help with kind of cash management issues that they have. and so what consistently we are all helping customers with is really avoiding a lot of the overdraft fees that are out in the marketplace and also being a solution for someone to help with kind of cash management issues that they have And so it's a significant, obviously, TAM, when you kind of think about those two fee types. And so from a how do we think about the kind of competitiveness across the marketplace? There are moments where MoneyLion is kind of actively the converting and acquiring within our marketplace. But equally, all of the other providers participate as well. And what's really interesting in terms of our solution is it obviously lends itself extremely well to other types of offerings and partnerships, which I'll pass it over to Travis to comment on. And so it's a significant, obviously, TAM, when you kind of think about those two fee types. and so it's a significant obviously tam when you kind of think about those two fee types And so from a how do we think about the kind of competitiveness across the marketplace? and so from a how do we think about the kind of competitiveness across the marketplace There are moments where MoneyLion is kind of actively the converting and acquiring within our marketplace. there are moments where moneylion is kind of actively the converting and acquiring within our marketplace But equally, all of the other providers participate as well. but equally all of the other providers participate as well And what's really interesting in terms of our solution is it obviously lends itself extremely well to other types of offerings and partnerships, which I'll pass it over to Travis to comment on. and what's really interesting in terms of our solution is it obviously lends itself extremely well to other types of offerings and partnerships which i'll pass it over to travis to comment on

Speaker 5: As you know, we have a thriving landscape of partners around the world in different categories, whether it's in the employee benefits channels, our telcos and ISPs, but also even some of our banking relationships. And of course, we're always looking at which product matches what partner for their customer segments. And in the best cases, they take the entire marketplace and they handle all the products that they don't do. But of course, we look specifically per partner for their customer base, what product is best applicable. As you know, we have a thriving landscape of partners around the world in different categories, whether it's in the employee benefits channels, our telcos and ISPs, but also even some of our banking relationships. as you know we have a thriving landscape of partners around the world in different categories whether it's in the employee benefits channels our telcos and isps but also even some of our banking relationships And of course, we're always looking at which product matches what partner for their customer segments. and of course we're always looking at which product matches what partner for their customer segments And in the best cases, they take the entire marketplace and they handle all the products that they don't do. and in the best cases they take the entire marketplace and they handle all the products that they don't do But of course, we look specifically per partner for their customer base, what product is best applicable. but of course we look specifically per partner for their customer base what product is best applicable

Speaker 7: On the channel network, just wondering if you could discuss maybe how your publisher partners manage that inventory. Have you effectively outcompeted competitors or marketplace competitors? Or is there additional surface area that you could win from those partners? That's one. And then just secondly, the health of the partner network. On the channel network, just wondering if you could discuss maybe how your publisher partners manage that inventory. on the channel network just wondering if you could discuss maybe how your publisher partners manage that inventory Have you effectively outcompeted competitors or marketplace competitors? have you effectively outcompeted competitors or marketplace competitors Or is there additional surface area that you could win from those partners? or is there additional surface area that you could win from those partners That's one. that's one And then just secondly, the health of the partner network. and then just secondly the health of the partner network I guess a lot of us think about questions about are some of those partners going to face traffic headwinds over time from Gen AI? That's been a consistent question of worries. So those two questions, please. Thank you. I guess a lot of us think about questions about are some of those partners going to face traffic headwinds over time from Gen AI? i guess a lot of us think about questions about are some of those partners going to face traffic headwinds over time from gen ai That's been a consistent question of worries. that's been a consistent question of worries So those two questions, please. so those two questions please Thank you. thank you

Speaker 3: Yes. Why don't I start? So in terms of the health of the network, it is exceptionally healthy. It's really important to remember that unlike other marketplace models, we're a technology platform. We have deep integration with our product partners, as well as with the channel partners. Yes. yes Why don't I start? why don't i start So in terms of the health of the network, it is exceptionally healthy. so in terms of the health of the network it is exceptionally healthy It's really important to remember that unlike other marketplace models, we're a technology platform. it's really important to remember that unlike other marketplace models we're a technology platform We have deep integration with our product partners, as well as with the channel partners. we have deep integration with our product partners as well as with the channel partners So when we say we power the financial ecosystem, it means that many of our partners that sit on the product side are also using us to help monetize their customers. And those deep integrations make it incredibly sticky. And so what we also see is because we're such a powerful platform, we even have other comparison sites that's kind of sit to monetize their customers using our network. So it's extremely unique from that perspective versus us just being a purely direct to consumer kind of performance marketing play. And what was interesting, you probably saw it in So when we say we power the financial ecosystem, it means that many of our partners that sit on the product side are also using us to help monetize their customers. so when we say we power the financial ecosystem it means that many of our partners that sit on the product side are also using us to help monetize their customers And those deep integrations make it incredibly sticky. and those deep integrations make it incredibly sticky And so what we also see is because we're such a powerful platform, we even have other comparison sites that's kind of sit to monetize their customers using our network. and so what we also see is because we're such a powerful platform we even have other comparison sites that's kind of sit to monetize their customers using our network So it's extremely unique from that perspective versus us just being a purely direct to consumer kind of performance marketing play. so it's extremely unique from that perspective versus us just being a purely direct to consumer kind of performance marketing play And what was interesting, you probably saw it in and what was interesting you probably saw it in

Speaker 5: the chart, you saw logos on both sides of the equation. So people on the one side offering distribution to their customer base were also the ones providing product into the marketplace. And that's what the ecosystem of My Owner has done really well. And you can imagine how much you can spread that in both in equations across all different content types and channels in ways of distribution. the chart, you saw logos on both sides of the equation. the chart you saw logos on both sides of the equation So people on the one side offering distribution to their customer base were also the ones providing product into the marketplace. so people on the one side offering distribution to their customer base were also the ones providing product into the marketplace And that's what the ecosystem of My Owner has done really well. and that's what the ecosystem of my owner has done really well And you can imagine how much you can spread that in both in equations across all different content types and channels in ways of distribution. and you can imagine how much you can spread that in both in equations across all different content types and channels in ways of distribution

Speaker 4: Yes, I'll just add one last thing. As you saw, we have a pretty diversified set of channel partners, right? Some of them perhaps have headwinds from Gen AI, but many of them have tailwinds from Gen AI. And so what we see is that diversified approach, especially meeting our user where they're making the decision is the strategy that really wins. Yes, I'll just add one last thing. yes i'll just add one last thing As you saw, we have a pretty diversified set of channel partners, right? as you saw we have a pretty diversified set of channel partners right Some of them perhaps have headwinds from Gen AI, but many of them have tailwinds from Gen AI. some of them perhaps have headwinds from gen ai but many of them have tailwinds from gen ai And so what we see is that diversified approach, especially meeting our user where they're making the decision is the strategy that really wins. and so what we see is that diversified approach especially meeting our user where they're making the decision is the strategy that really wins

Speaker 1: And this is Santo from Gabelli Fund. I want to ask a question about international expansion. So Moneyline seems attractive. My question is which set of countries will be the low hanging fruit for MoneyLion? Yes. And this is Santo from Gabelli Fund. and this is santo from gabelli fund I want to ask a question about international expansion. i want to ask a question about international expansion So Moneyline seems attractive. so moneyline seems attractive My question is which set of countries will be the low hanging fruit for MoneyLion? my question is which set of countries will be the low hanging fruit for moneylion Yes. yes So we're not going to give you the country today, but we believe this, first of all, a lot more opportunities to gain in The U. S. Building up on our current stack and really adding our value to the overall view, that already has a lot of growth potential. Outside of that, as we improve our model, we're going to move steadily. You know some of our countries that we're in. So we're not going to give you the country today, but we believe this, first of all, a lot more opportunities to gain in The U. so we're not going to give you the country today but we believe this first of all a lot more opportunities to gain in the u S. s Building up on our current stack and really adding our value to the overall view, that already has a lot of growth potential. building up on our current stack and really adding our value to the overall view that already has a lot of growth potential Outside of that, as we improve our model, we're going to move steadily. outside of that as we improve our model we're going to move steadily You know some of our countries that we're in. you know some of our countries that we're in Japan, UK, France, Germany are leading countries for us, Canada, from a cyber safety perspective. And where it makes sense, we're going to go and deploy there. Okay. Very good. Well, I do want to thank you for your interest, for coming here in the room, for those who are in the room. Japan, UK, France, Germany are leading countries for us, Canada, from a cyber safety perspective. japan uk france germany are leading countries for us canada from a cyber safety perspective And where it makes sense, we're going to go and deploy there. and where it makes sense we're going to go and deploy there Okay. okay Very good. very good Well, I do want to thank you for your interest, for coming here in the room, for those who are in the room. well i do want to thank you for your interest for coming here in the room for those who are in the room And hopefully, that was really helpful for you to understand our Gen expansion strategy into that new segment, trust based solution. Thank you. And hopefully, that was really helpful for you to understand our Gen expansion strategy into that new segment, trust based solution. and hopefully that was really helpful for you to understand our gen expansion strategy into that new segment trust based solution Thank you. thank you