Vancouver-based MyMarble.ca has announced a partnership with lender Canadian Financial. The deal provides a white label version of MyMarble’s credit management tools to the lenders and merchants in Canadian Financial’s network.
Canadian Financial, founded in 2015, is an Ottawa-based fintech platform for Canadians that offers access to over 200 lenders. Think of it as access to a wide range of alternative lending sources. The firm handles both consumer lending as well as commercial accounts (things like accounts receivable factoring).
MyMarble.ca has a suite of tools designed to help Canadians better understand and improve their credit score. Users connect their banking info through the platform, which in turn leads to AI-powered recommendations from MyMarble to help with debt management and credit score quality. Through another tool, Maestro, you can access courses aimed at the core concepts of financial literacy. Another company active with a similar approach is Borrowwell, which offers a free credit report from Equifax as well as AI-driven recommendations for improvement.
The deal reflects a common need/tension among fintech’s offering a financial management platform to Canadians – the challenge of reach. Despite the innovation and strength of the product, it’s hard to make noise in a crowded market and the big banks still dominate share of mind and wallet. We’re increasingly seeing fintech’s turn to white label solutions to grow their user base by leveraging partner networks.