Tickers: XCNQ:MRBL, XOTC:MRBLF, PINX:MRBLF
Tags: #Banking&FinancialServices, #Business, #Technology
Vancouver, B.C. - TheNewswire - June 10, 2020 - Marble Financial Inc. (CSE: MRBL) (CNSX:MRBL.CN) (OTC:MRBLF) ("Marble" or the "Company") a financial technology company that empowers Canadians' toward a positive financial future, is pleased to announce its strategic partnership with VINN Auto, offering their customers Marble's proprietary credit rebuilding products, Score-Up and Fast-Track.
Marble, a leader in financial technology solutions, is partnering with VINN Auto, a company that helps Canadians streamline the process of buying the right vehicle at the best price through innovative technology. The introduction of Score-Up and Fast-Track to VINN Auto's engaged customer base, presents a new growth channel of opportunity to empower in-market Canadians in becoming eligible for prime vehicle financing with improved credit scores and financial literacy.
The Canadian automotive sector is a $12B industry that is very credit score dependent, with two thirds of Canadians opting to finance when purchasing, according to FICO. However, due to the economic effective and social distancing sentiments around COVID-19, car sales are expected to decrease by 23% in 2020. This has created a fantastic opportunity for VINN Auto's online marketplace and Marble's credit rebuilding technology to empower consumers to take advantage of a rare occurrence of low interest rates, low oil prices, and excess inventory for prime in-market car shoppers.
This partnership will utilize VINN Auto's lead generation engine to accurately identify users who do not currently qualify for car financing due to poor credit or active consumer proposals. Marble can now reach a new demographic of Canadians needing to actively rebuild their credit to achieve the financial goal of purchasing a vehicle. The inclusion of Marble's Score-Up and Fast-Track products to the VINN Auto platform will enable Canadians to positively impact their credit standing and present additional opportunities to qualify for other VINN Auto's product recommendations in the future.
"As we work to serve customers in varying financial situations, it's apparent that building good credit is of great importance for consumers looking to finance their next purchase." says VINN CEO, Caleb Bernable. "Many feel dejected if they are turned away from dealership financing and need alternate solutions. Rather than abandoning that customer, referring them to Marble Financial is a great opportunity for VINN to continue engaging customers and adding value, regardless of their financial situation. Having a partnership with Marble opens the door for customers across Canada to rebuild their credit and get one step closer to driving home in a new car."
"We've seen that the car financing industry is heavily dependent on credit scores." says Marble CEO, Karim Nanji. "The partnership with a consumer-focused and transparent brand like VINN Auto presents a great pool of potential users consistently growing and actively looking to improve their credit to achieve their financial goals. Something we care very much about at Marble".
ON BEHALF OF THE BOARD OF DIRECTORS,
Karim Nanji, CEO
About VINN Auto. VINN is an automotive e-commerce platform that aims to revolutionize the automotive retail model by connecting buyers and dealership through an online platform. Data-driven proprietary technology powers vehicle selection tools and allows customers to complete an online checkout for a new or used vehicle in less than 20 minutes. Founded in 2019 in Victoria BC, VINN operates Canada's first automotive e-commerce marketplace, a website that allows consumers to shop for vehicles and complete the process digitally. VINN also offers VINN Retail, a software product that enables e-commerce functionality directly on a car dealership website. The company is spreading across Canada and currently works with over 70 dealerships and thousands of vehicle buyers.
For more information please visit: https://vinnauto.com
About Marble Financial Inc. (CSE: MRBL; OTCQB: MRBLF) Marble leverages its proven data driven strategies utilizing the power of machine learning, data science, and artificial intelligence, through its industry-leading proprietary technology solutions Fast-Track, Score-Up, and Credit-Meds to engage in and navigate a clear path for Canadians towards financial wellbeing and a meaningful credit score. Since 2016, Marble is proud to have empowered thousands of marginalized Canadians to a positive financial future, and we continue to establish ourselves as leaders in financial wellness through the licensing of our proprietary products on the Marble Platform.
For further information, please visit the company's website at http://mymarble.ca
NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATIONS SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
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