MOGO - Personal Finance Value Stock: 1 Cheap Company to Own
Mogo (TSX:MOGO) (NASDAQ:MOGO) empowers more than one million members with simple digital solutions for personal financial planning. Through the Mogo app, consumers can access a digital spending account featuring automatic carbon offsetting, easily buy and sell Bitcoin, and get free monthly credit score monitoring, free identification fraud protection, a digital mortgage experience, and personal loans. Mogo also offers a digital payments platform that powers the next-generation card programs from innovative FinTech companies in Europe and North America.
Innovative product development
Mogo is a product-focused company that develops new and innovative products. The company’s chief executive officer (CEO) leads Mogo’s product team and ensures that all products are aligned with the company’s brand and mission to improve the financial health of Mogo’s members. The company values convenience, transparency, and simplicity and creates financial products that customers enjoy using for everyday life.
The company constantly monitors member feedback and market trends and strives to remain a market leader by continuing to optimize user experience and value proposition. Mogo invests heavily in enhancing the company’s existing product offering and in the development of new products.
Integrated user-friendly platform
Mogo leverages the company’s integrated platform to meet the financial needs of consumers. The company has a track record of providing a growing and innovative suite of products that address the full credit spectrum of consumers. All functions are designed and built as small services for ease of use and enhanced system reliability.
Having a member-centric approach requires providing members with a high degree of usability, facilitated by a positive member experience and self-service. This objective transcends everything that Mogo does, beginning with the front-end of Mogo’s website, to the member’s online interaction with the company’s product.
Ensuring a quick and appropriate decisioning process requires streamlining the process to avoid steps that are unnecessarily burdensome to the member. The company views automation as an important element of this, whether it is during the application process, which includes verification of employment, bank, or phone data, as well as during all monetary transactions, including loan funding and member payment processes.
Unique analytic capabilities
A key pillar of Mogo’s platform is the integration of analytics into the transaction flow. By doing so, the company derives unique insights into operations and member experience. Mogo’s data-gathering processes combine both batch style data warehousing technology and real-time actionable intelligence. This enables real-time cross-selling opportunities as well as a personalized experience and data products.
Mogo’s data-driven model facilitates and maximizes the sourcing of prospects, significantly increases product application completions, yields a higher conversion rate, and enables higher member retention and collections performance.
Leveraging strategy
The company’s marketing strategy aims to build the best digital financial brand in Canada, with innovative products. Mogo’s brand and marketing strategy leverages compelling and creative content to inspire and motivate Canadians to sign up for Mogo.
Overall, Mogo’s innovative online and digital platform and process automation enables it to operate more efficiently, with more competitive rates and higher customer satisfaction than the company’s competitors. Over time, this should lead to a higher stock price.
The post Personal Finance Value Stock: 1 Cheap Company to Own appeared first on The Motley Fool Canada .
Fool contributor Nikhil Kumar has no position in any of the stocks mentioned.
2021