Affiliate Marketing For Lenders
This Podcast is for consumer lenders who want to grow their affiliate marketing programs. It’s hosted by Carlos Caro, a successful marketing agency founder and former fintech executive. Prior to founding New Market Growth, Carlos was a General Manager and Head Of Business Development at Credit Karma, Head of Customer Acquisition at Caribou, and a former leader in Capital One’s credit card business. NMG focuses on helping lenders build and optimize affiliate programs, and Carlos is here to share how to do it yourself. Subscribe to this Podcast to hear from Carlos and other industry leaders as they demystify what it takes to win the affiliate marketing game.
Episodes
In April 2025, Transunion completed its acquisition of Monevo (a UK-based credit prequalification platform). In today's News Pod, Nick discovers that TU paid $56MM and that TU expects the Monevo acquisition to be immaterial to FY 2026 growth for TU. (Sources of that information below). Carlos and Nick discuss the Monevo business model and speculate on why growth could be muted in the US market.
Please note: While recording the Po...
Today we walk through a list of questions to ask yourself to determine whether your application experience needs a tune up. ***** About The Free Toaster Podcast:
Insights and interviews at the intersection of consumer lending, marketing, and technology. Hosted by Carlos Caro, co-founder at The Free Toaster and Managing Partner at New Market Growth, a growth agency for consumer lenders. *****
***** To support The Free Toast...
This week Prithvi Prabhu drops in to help us contextualize Cash App Borrow's metrics from this Edition: https://www.thefreetoaster.com/p/cash-apps-invisible-200-billion-loan
Then, we discuss Mr. Beast's Fintech Acquisition and talk about why buying Fintech's could lead to trouble for the mega content creator.
Sign up for The Free Toaster Newsletter (www.thefreetoaster.com) to get our curated news at the intersection of consume...
The Free Toaster hosts Carlos Caro and Nick Madrid add context to the story covered in the Newsletter earlier this week. https://www.thefreetoaster.com/p/wtf-2026-since-when-is-debit-now
Sign up for The Free Toaster Newsletter (www.thefreetoaster.com) to get our curated news at the intersection of consumer lending & marketing, published every Wednesday. And then come here on Fridays to get our hot takes on a select story fr...
Today we cover the 7 traits of successful VPs of Partnerships, why they matter, and how to assess them during interviews.
***** To support The Free Toaster Podcast, please visit our sponsors:
A word from our sponsor, Fintel ConnectDrive thousands of new accounts and billions in deposits with the only partner marketing solution built for fintech and banking – your all-in-one affiliate platform, partner network, agency, and ma...
Affirm is officially making a play to become its own bank by submitting applications to establish Affirm Bank through a Nevada-chartered Industrial Loan Company (ILC). This strategic shift aims to strengthen and diversify their platform, allowing them to scale operations and offer FDIC-insured products directly to consumers.
The Free Toaster hosts Carlos Caro and Nick Madrid comment on this and the growth in their credit card progr...
Cash App Borrow is quietly building a monster (and seemingly highly profitable) consumer lending business under the radar.
The Free Toaster hosts Carlos Caro and Nick Madrid comment on the metrics they've seen published from the business.
Sign up for The Free Toaster Newsletter (www.thefreetoaster.com) to get our curated news at the intersection of consumer lending & marketing, published every Wednesday. And then come here o...
This week Carlos Caro unpacks what Jenius Bank's exit from affiliate marketplaces could mean for other prime personal loan lenders. Sign up for The Free Toaster Newsletter (www.thefreetoaster.com) to get our curated news at the intersection of consumer lending & marketing, published every Wednesday. And then come here on Fridays to get our hot takes on select stories from that edition. ***** To support The Free Toaster Po...
In the News Pod, The Free Toaster founders - Carlos Caro and Nick Madrid - unpack select stories from the Wednesday news edition of www.thefreetoaster.com Sign up for the Newsletter to get our curated news at the intersection of consumer lending & marketing, and then come here on Fridays to get our hot takes on select stories from that edition. ***** To support The Free Toaster Podcast, please visit our sponsors:
In this episode, Tomás returns to share what's changed since Spinwheel's $30 million funding round—including a strategic investment from Citi—and gives us an inside look at the Spinwheel Network Token, a piece of technology that changes how lenders can serve customers across the acquisition journey. Please note: Spinwheel is a sponsor of The Free Toaster Newsletter and Podcast.
About The Spinwheel Network TokenI sit with my co-founder Nick Madrid to discuss what we've learned in the last year of building this Podcast and Newsletter.
About Nick Madrid - Co-founder, The Free Toaster. Former Bloomberg (10 years) and Chime (3+ years). Now building media properties including The Free Toaster and the Uncovered Media brand.
Free Toaster StatsI recently sat with Alex Johnson on the Fintech Takes Podcast. I hope you enjoy! ***** (Show notes below from Fintech Takes)
Welcome back to the Fintech Takes podcast. I’m Alex Johnson, joined by Carlos Caro (author of the Free Toaster newsletter and host of the Free Toaster podcast) for the second episode of Facing Credit, where we unpack what’s really happening in lending right now.
This one’s about marketing; the overlooked ...
I was recently a guest on another Podcast, and the host asked me a question about what will happen to publishers' organic traffic that disappeared with the recent Google / SEO changes.
That question led me into a bit of a tangent / rabbit hole (I'll republish that episode here when it goes live in December), and today I share some of my updated thoughts after having an evening to reflect on the conversation.
Alana Levine, Chief Revenue Officer at Fintel Connect, returns to break down the compliance challenges that affiliate marketers face. As AI reshapes the affiliate landscape, financial institutions face mounting pressure to get compliance right—or face serious consequences.
In this episode, Alana shares her fr...
We've all heard the rumors around SEO traffic drying up for publishers. Today I riff on what's going on, why it's happening, and what lenders should be doing about it. This is a supplement to something I recently published on The Free Toaster Newsletter. https://www.thefreetoaster.com/p/the-seo-apocalypse-has-arrived-9812 *****
A word from our sponsor, Spinwheel:
Reduce friction in your lending application wit...
We explore how fintech lenders could revolutionize customer acquisition by partnering with AI-powered finfluencers, alleviating current concentration in affiliate marketplaces.
Key TopicsThe Current Problem: 30-70% of fintech lender volume comes from affiliate marketplaces, creating concentration risk. Lenders spend $4B-$6B annually on affiliate mark...
We sit down with Alana Levine, Chief Revenue Officer at Fintel Connect, to uncover what financial institutions get wrong when launching affiliate marketing programs—and more importantly, how to get it right from day one.
As someone who lives in the trenches and is often the first call when lenders want to activate the affiliate channel, Alana shares h...
We sit down with Kirill Klokov, CEO of Truv, to break down everything lenders need to know about income verification providers.
Vetting Income Verification Vendors
- Why most providers use the same underlyi...
Rich Walker is back! After our first direct mail episode became the most popular episode on the show, we're back for round 2.
The 10 DM Pitfalls We Discuss1. Attribution Nightmares
People get your mail, then go to Credit Karma to respond. Your CFO freaks out about "paying twice" but that's just how the channel...
I sat down with John Henson, a fintech-savvy lawyer who formerly worked at LendingTree (both as an attorney and a general manager). He unpacks the regulatory chaos swirling around lead generation in 2025 — what’s changed, what’s still risky, and how fintech marketers can navigate it without getting burned.
In today's discussion:- The CFPB Rolled Back Rules: Credit card and personal loan lead gen just got a little more breathing...
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