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Mogo Announces First Quarter 2016 Financial Results
Mogo Announces First Quarter 2016 Financial Results Mogo Announces First Quarter 2...
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[{"type":"text","content":"\n\n\n\nMogo Announces First Quarter 2016 Financial Results\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prngen2{\nBORDER-BOTTOM:black 0pt; BORDER-LEFT:black 0pt; PADDING-LEFT:0.50em; PADDING-RIGHT:0.50em; VERTICAL-ALIGN: BOTTOM; BORDER-TOP:black 0pt; BORDER-RIGHT:black 0pt\n}\n.prntblns{\nBORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; BORDER-COLLAPSE: collapse; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\nMogo Announces First Quarter 2016 Financial Results\nCanada NewsWire\nVANCOUVER, May 12, 2016\n\n\n\nMember Base Surpasses 200,000Demonstrates Operating Leverage for Second Consecutive Quarter \n\n\n\nVANCOUVER, May 12, 2016 /CNW/ - Mogo Finance Technology Inc. (TSX: GO), one of Canada's leading financial technology companies, today announced its financial and operational results for the quarter ended March 31, 2016. \n\n\"Recent news from the banks underscores that the financial services industry is undergoing a fundamental digital transformation, and we continue to be at the forefront of this change in Canada,\" said David Feller, Mogo's Founder and CEO. \"As we say, we are not a bank by design – we are not trying to replace the banks but through technology and design we are bringing value and convenience to our members that the banks cannot offer and our aim is to have consumers add Mogo to their financial wallet. A key priority in 2016 is continuing to invest in our technology platform and new products. We now have close to 100 team members focused exclusively on technology development, including software and design, which represents roughly one-third of our total headcount. The team continues to make good progress toward the near-term launch of our next-generation digital account, our new mobile app, as well as the new Mogo Card and Mogo Mortgage.  2016 is also about growing our member base, focused on millennials, who represent a growing percentage of the Canadian workforce and are underserved by the banks today. We recently surpassed 200,000 members – an important milestone on the path to our one milli...