The Mogo Blog

Surprise! Millennials are the #1 fraud victims

You’re more likely to be a victim of fraud than your grandma. According to the Financial Post, [ http://business.financialpost.com/personal-finance/young-money/credit-swindlers-duping-millennials-way-more-than-seniors-survey-says?__lsa=ff89-ee1d] “50% of suspect and highly suspect credit application frauds in Canada in 2015 were against Millennials or Generation Y… regarded as anywhere from age 16 to 36.” That’s crazy. Millennials are supposed to be the ones who are on top of technology and kn

Why design matters in financial services

Financial services have been around for hundreds of years, but they haven’t really changed all that much. The banking industry, both in terms of design or function, has remained relatively static. Hey, it’s understandable when your roots run deep in tradition. That’s the thing. We’re not a bank—by design. And it’s not just a play on words that we decided sounds nice; we’re actually consciously using design and psychology to make it fun to be financially responsible. (Because let’s be real, “fin

What's a credit score? (And its everyday uses)

Well, first let’s talk about what a credit report is. Your credit report shows your history of borrowing and details on any loans you’ve taken out, as well as other info like how many times you get your credit checked and how close you are to maxing out your balance. Oh yeah, and if you’ve been avoiding those parking tickets or your phone bill from 2011, those get written up in your report too. The score is calculated based on secret algorithms using all the above—and more. It can be a measure

200,000 MogoMembers down, 800,000 to go.

Well, we did it. We hit 200,000 MogoMembers! Say hello to the country's biggest digital financial platform. As leaders of the FinTech revolution in Canada, this is pretty awesome. Tech is getting bigger and bigger (just look at Uber and Airbnb), and it’s clearer than ever that the traditional way of banking is being left far behind. Last year, McKinsey released a report saying that banks could lose up to 60% of their retail profits to tech startups—oh hey, that’s us—over the next nine years. Th

The MogoLounge: FinTech's getting physical in Toronto

Last time, we told you a bit about the beautiful-striking-gorgeous design of the new MogoLounge [https://blog.mogo.ca/mogolounge-toronto-design] on 797 Queen Street West in Toronto. [https://www.google.ca/maps/place/MogoLounge/@43.6460508,-79.4107983,17z/data=!3m1!4b1!4m2!3m1!1s0x882b34e3e23bdc81:0xbf3d6838c35278fc] This week, we’re going to share some of our big plans for this rad new space. Mogo HQ, if you will. Get the 360° Mogo experience ![](/content/images/2016/04/mogo_mogolounge-strateg