Prosper Marketplace, one of the largest marketplace lenders, is discontinuing the Prosper Daily app.
The app, formerly known as BillGuard and a favorite of many fintech insiders, helped users protect their identities and monitor their credit scores.
Moving onProsper suggested that the BillGuard consumer finance app was no longer a core service. The decision to end it "is part of Prosper’s continuing focus on creating a category-defining experience for borrowers," the online lender says.In a blog post announcing the app’s sunset, Prosper — which announced the acquisition of the consumer finance maker BillGuard in September 2015 — wrote: “This decision is part of Prosper’s continuing focus on creating a category-defining experience for borrowers, as well as for investors interested in consumer loans. Prosper continues to see growth and momentum across its business, and our current position of strength gives us the opportunity to further enhance the experience for borrowers and investors.”
The online lender said it will no longer have access to users' financial accounts once the app is discontinued and that it will reimburse annual subscribers. Prosper Daily was free, but users could add identity protection for $9.99 a month or $83.88 a year.
Prosper's post urged consumers to use Clarity Money, a personal financial app that counts Acorns, a microinvesting app, as a partner.
Register or login for access to this item and much more
All Information Management content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access