MoneyLion Inc.

Climate Impact & Sustainability Data (2020-12-31 to 2022-03-31, 2022)

COVID-19 pandemic impact on consumer behavior, economic activity, and demand for financial products and services.
Intense competition in the financial services industry.
Need for continuous innovation to maintain customer demand.
Risks associated with acquisitions and strategic transactions.
Dependence on third-party service providers.
Maintaining a strong brand reputation.
Managing credit risk and loan defaults.
Securing and managing funding sources.
Cybersecurity threats and data breaches.
Protecting intellectual property rights.
Compliance with extensive regulations.
Attracting and retaining qualified personnel.
Maintaining effective internal controls over financial reporting.

Implemented underwriting policy changes and consumer support programs to manage credit risk and support customers during the pandemic.
Investing in platform approach and product innovation.
Developing robust risk management processes and procedures.
Diversifying funding sources.
Implementing enhanced cybersecurity measures.
Filing patent, trademark, and service mark applications.
Devoting resources to regulatory compliance.
Investing in employee training and development.
Developing and refining disclosure controls and internal control over financial reporting.

Established employee resource groups, Here Women Roar and Roar With Pride, to support employee growth and development.

Material weaknesses in internal control over financial reporting related to technical and complex accounting and Enterprise revenue recognition.
Competition in dynamic and fragmented industries.
Risks related to regulation, including consumer protection, investment advisory, broker-dealer, and digital assets.
Cybersecurity risks and data security breaches.
Economic downturns and market volatility.
Dependence on third-party providers.