VANCOUVER, June 12, 2019 /CNW/ - Mogo Finance Technology
Inc. (TSX:MOGO) (NASDAQ: MOGO) ("Mogo" or the "Company"), a
financial health app, today announced a new program with Trans
Global Insurance ("TGI") to help customers of The Brick,
Canada's largest home furnishings
retailer, understand and combat identity fraud. TGI is a leading
provider of credit insurance and other protection products in
Canada, and is the exclusive
provider of such products to The Brick's customers.
Through this first-of-its-kind program, customers of The Brick
who enroll in TGI's credit insurance protection will receive
important credit score educational information along with a voucher
for 120 days free access to MogoProtect, to help them safeguard
their identity and creditworthiness. Consumers can sign up easily
for MogoProtect by downloading the Mogo app from the Apple app
store or Google Play.
"As data breaches continue to happen, Canadians are at an
increasing risk of becoming victims of identity fraud. Knowing
how severe the consequences of this can be, we believe there is a
need for all Canadians to be informed and have access to a digital
identity fraud detection solution," explained Moe Assaf, Senior Director, Financial &
After Delivery Services, The Brick. "After researching the market,
we concluded that MogoProtect is an excellent mobile-first
solution. By offering it to our customers, not only are we doing
our part to help prevent identity fraud, but we are also delivering
real value to our customers as part of our robust package of
security products and services."
MogoProtect monitors a consumer's Equifax Canada Co. credit
bureau, sends alerts directly through the app and email after an
inquiry, and guides consumers through the next steps to help
prevent identity fraud. MogoProtect is seamlessly integrated into
the Mogo Finance app, where users also have the ability to monitor
and track their Equifax credit score for free.
MogoProtect was launched in November
2017 and was created to address a gap in today's protection
offerings that are costly and do not offer daily monitoring and
alerts through a mobile-first digital experience and to educate
consumers about the need to protect their identity. Identity fraud
can impact the ability to buy a home, retire and can take months
and potentially years to correct. In a recent Gallup Poll, 66% of
respondents were concerned about identity fraud because of the
potential impact on their financial life. Approximately 80% of
Canadians do not have this kind of identity fraud solution
currently.
"This represents an important step in our plan to help Canadians
manage and take control of their financial health as we truly
believe identity fraud is one of the greatest risks facing
consumers today," said David Feller,
Mogo's Founder and CEO. "Teaming up with Canada's largest home furnishings retailer,
and a household name such as The Brick, is part of Mogo's strategy
to increase distribution of our innovative products to reach even
more Canadians."
"Financial stress continues to be the number one stress factor
across all demographics, and identity theft is increasingly a key
concern for Canadians. Our view is every Canadian should have
a solution like this because the consequences of identity fraud can
be so severe," added Greg Feller,
President & CFO of Mogo.
About Mogo
Mogo (TSX: MOGO; NASDAQ: MOGO) — a financial technology company
— is a financial health app that empowers consumers with simple
solutions to help them manage and control their finances. Users can
sign up for a free MogoAccount in only three minutes and get access
to six products including free credit score monitoring, identity
fraud protection, digital spending account with Platinum Prepaid
Visa® Card, digital mortgage experience, the MogoCrypto account,
the first product within MogoWealth, which enables the buying and
selling of bitcoin, and access to smart consumer credit products
through MogoMoney. The platform has been engineered to deliver a
best-in-class digital experience, with best-in-class financial
products all through one account. With more than 800,000 members
and a marketing partnership with Canada's largest news media company, Mogo
continues to execute on its vision of becoming the go-to financial
app for the next generation of Canadians. To learn more, please
visit mogo.ca or download the mobile app (iOS or Android).
About The Brick
The Brick is Canada's largest
retailer of furniture, appliances, mattresses and electronics.
Serving Canadians since 1971, with over 220 locations and more than
5,000 employees across Canada, The
Brick is proud to be part of your community. The Brick is a
wholly-owned subsidiary of Leon's Furniture Limited (TSX: LFL). The
Brick is online at TheBrick.com. Keep up-to-date and follow on
Twitter, Facebook and Instagram.
About Trans Global Insurance
Trans Global Insurance Group ("TGI") is composed of Trans Global
Insurance Company, a property and casualty company and Trans Global
Life Insurance Company, a life insurance company. TGI has been
operating across Canada for over
20 years, with an industry leading suite of simple, affordable, and
effective financial protection and insurance products. TGI is the
exclusive provider of credit insurance for some of Canada's leading consumer finance companies.
TGI is a wholly-owned subsidiary of The Brick.
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SOURCE Mogo Finance Technology Inc