How It Works?
Why Use Purpose?
What Is Purpose?
Acquiring Valuable Customers is Hard. Purpose Makes it Easier.
How it works
- Tell us an important goal
- We show you a curated list of services
- Use a service and we send you cash
Grow your Customer Base
Every company struggles with the same thing. How to acquire high-value customers at a lower cost than their competitors?
Purpose empowers financial services companies with a no-integration growth solution to identify and onboard a predictable number of new customers.
Empowered, Intended Consumers Use Purpose
Purpose members have a current need and are searching for specific services. Our community relies on Purpose for objective, internally created reviews, which enable them to learn more about services and find specific service attributes that lead to our members using that service for the long-term. This makes Purpose much different from rewards/cashback apps where users are usually looking for rewards first - not necessarily considering the value of the third party service associated with the reward.
PURPOSE MEMBERS ARE VALUABLE FINANCIAL SERVICES CUSTOMERS
Purpose verifies the member's mobile phone is in their possession and that they have requested to be contacted by our partners via email and phone.
We have also authenticated and validated the member's online banking credentials and have connected their Purpose account to the member's bank account.
They have also granted permission to Purpose to pull their credit history in order to help establish a risk profile. Combining credit data with the member's banking history and identity verification creates a powerful pre-qualification tool that effectively prevents fraud and streamlines customer onboarding.
HOW IS PURPOSE DIFFERENT FROM OTHER DIRECT-TO-CONSUMER FINTECH PRODUCTS?
Many fintech applications have features to manage expenditures or provide robotic advice while they sell data to financial services companies who are really looking for long-term, valuable customers. Purpose does not do that. Our members have a specific set of financial goals and are actively investing their time, money, and using our platform to accomplish them. Serious people making high-impact decisions trust Purpose to help find them the best financial services partners.
Purpose helps financial services organizations leverage their own brand to keep valuable customers instead of utilizing their infrastructure to empower fintech companies to become more valuable than the very banks powering them.
About our team
A passionate group of people led by Ari Kassman, a serial entrepreneur with 25 years of experience creating successful, high-growth technology companies.
“Consumers will use Purpose. Personally, I hope everyone will. ”
Innovation Leader, BoA
PRIVACY & USER SECURITY
Purpose has adopted and adheres to stringent security standards designed to protect our Member's Information against accidental or unauthorized access or disclosure. Among the safeguards that Purpose has developed are administrative, physical, and technical barriers that together form a protective firewall around the information that is stored. Purpose will never sell, license, transmit or disclose any data unless expressly authorized by the Member.
Purpose makes considerable investments in creating a personal experience that aligns our interests with our customers. Purpose starts with what our customer needs and works backwards from there. Innovation is driven purely by asking what solution will please the customer. Our job is to find that solution.
OUR TARGET AUDIENCE
Our members have a specific financial Purpose. They are actively investing in themselves to accomplish their financial mission and have entrusted us to help guide their most important steps forward.
Purpose members are:
- Easier and less expensive to onboard for financial services companies
- Better qualified than many other potential customers
- Have a higher lifetime value than the majority of target market segments
- More likely to be cross-sold on additional products
- Have a higher percentage of direct deposits
- Carry higher average balances
- More actively use cards and digital wallets
- Require less assistance
Purpose helps make people's lives easier by giving them cash as they make the purchases they are already planning to make.