MoneyLion signs as official money app for INFLCR student-athletes

INFLCR has made another step to provide its student-athletes the needed financial tools to be successful in NIL.

The company that provides brand-building technology to assist institutions’ athletes in maximizing their NIL value has signed MoneyLion as its official money app. With a focus on financial preparedness, the two companies plan to educate athletes on how to manage their money through educational videos. Other topics include improving credit scores, investing and hacks to saving money.

In survey results released by the NCAA this spring, 39% of women’s sports athletes and 42% of men’s sports athletes said they are still looking for more resources on “navigating NIL opportunities.” About half of each group is looking for more help on how to do their taxes.

INFLCR and MoneyLion’s new partnership will hope to address those concerns.

“We’re very excited to provide student-athletes with premium digital banking options and money content through this innovative partnership with MoneyLion,” INFLCR founder and CEO Jim Cavale said in a statement. “Preparing student-athletes to maximize their NIL opportunities with the proper financial literacy and the toolkits that create accessible and sustainable paths toward their goals is what we’re all about.

“MoneyLion joining the INFLCR Global Exchange is a game changer for any and all student-athletes managing their NIL business and building their brand through the INFLCR app.”

MoneyLion is a financial services company that offers credit-builder loans to its members without a credit check. The company engages and educates its customers with daily, hyper-personalized money-related and money-adjacent content that is delivered through each customer’s own content feed.

MoneyLion, INFLCR announce NIL ambassador program

As part of the collaboration, MoneyLion and INFLCR will be creating a NIL ambassador program for athletes to represent the financial services company at their schools and drive the conversation around financial education.

With a start date set for October, INFLCR will piece together a roster of student-athletes from across the country for a class of “MoneyLion Athletes.” Perks of being part of the program will include special access to VIP events and webinars with professional athletes. Select ambassadors will appear on Showtime’s sports podcast, “All the Smoke”, hosted by Matt Barnes and Stephen Jackson, as guests on a custom segment of the show.

The ambassador program will run for four months and give athletes the opportunity to learn foundational money skills needed to build confidence in their money spending. MoneyLion’s media subsidiary, MALKA Media, will manage the partnerships and programming, along with the development of the curriculum that will be distributed to INFLCR athletes.

“We’ve teamed up with INFLCR to teach the next generation of earners and spenders how to take ownership of their money,” MoneyLion chief content officer Jeff Frommer said in a release. “The reality is most people aren’t taught foundational money skills like the importance of a good credit score and soft skills like being confident with money decisions. NIL and many are receiving an income for the first time, they need help with these skills and we are here to make sure they get off to the right start.”