U.S. Bank & SpringFour Partnership Featured by Bank Director

U.S. Bank & SpringFour Partnership Featured by Bank Director

 

 

What makes a successful partnership? Recently, Bank Director profiled our partnership with U.S. Bank as an example of what a successful bank+fintech partnership looks like. SpringFour embarked on our partnership with U.S. Bank in October of 2016 and the results have been significant.

The Bank Director article focuses on the efforts U.S. Bank has made to address their mortgage borrowers in distress, and the role SpringFour has played in these efforts. U.S Bank has seen impressive results as a result of incorporating SpringFour. As Scott Rodeman, SVP, U.S. Bank Mortgage Servicing, Default Operations, states in the article:

“Consumers that receive these referrals are twice as likely to engage in some kind of loan workout strategy with us rather than just allow the house to go into foreclosure,” he says. “That’s a significant number.” Mortgage borrowers that receive referrals are also 10 percent more likely to remain current with their mortgage. An equally important if less tangible benefit is that the program has enabled the bank to build a deeper relationship with its customers. “Coming out of the crisis, consumers were afraid of their mortgage servicers,” says Rodeman. “For us to see that kind of engagement rate increase shows that we’re building rapport and trust with our customers.”

This is not the first time that our partnership with U.S. Bank has been recognized. Additional accolades have included being named as a finalist for the Most Innovative Solution of the Year at Bank Director’s FinXTech 2018 Fintech Awards, and a finalist for the Breakthrough Collaboration in Financial Services at the BAI Global Innovation Awards. We are proud and humbled by these Awards.

We value each one of our partnerships and continuously work with our subscribers to make certain that with use of SpringFour’s applications, they are creating impact and helping their borrowers achieve financial wellness. If you want to talk partnership, best ways to increase financial wellness, increase repayment or social impacts, don’t hesitate to reach out. We welcome the opportunity to talk with you.


Katie Gottschall Donohue, Vice President, Strategy and Customer Engagement

SpringFour, Inc.

Industry Recognition

                 

 

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BMO Harris/1871

BMO Harris/1871

 

 

On Friday September 22nd, we had the privilege to present the SpringFour solution to top BMO Harris Bank executives. This was the culmination of the three-month partnership program in which SpringFour was one of six startups selected to participate. Read our blog about our inclusion in the program here.

We are proud to announce that we received third prize in the program, receiving $10,000.

See the article featuring the Program on Business Insider.

The program was a great experience for SpringFour, allowing us to engage deeply with our three mentors at BMO Harris. Each of our mentors were incredibly involved, believed in our mission, and worked hard with us to refine our value proposition, and how best we could potentially integrate with BMO Harris Bank.

Not only did we walk out of this experience with additional knowledge, but also great partners and a vision of future partnership with the Bank.


Katie Gottschall Donohue, Vice President, Strategy and Operations

SpringFour, Inc.

Industry Recognition

                 

 

GET IN TOUCH

For all inquiries:
866-732-2246

Chicago Office at 1871
222 Merchandise Mart Plaza Floor 12

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STAY UP TO DATE WITH SPRINGFOUR

SpringFour Proud to Launch with BMO Harris Bank

SpringFour Proud to Launch with BMO Harris Bank

 

 

On August 1st we launched with our newest subscriber, BMO Harris Bank. Deploying SpringFour in both mortgage servicing as well as on their website, BMO Harris customers will now have access to local, vetted resource referrals which will assist them on their path to financial wellness.

Last year, when we were selected as one of six FinTech’s for the BMO Harris/1871 Fintech Partnership Program, we knew it was a going to be a great experience. And it absolutely was. We were paired with senior executive mentors within the bank who saw the potential in the SpringFour platform. They provided invaluable expertise around our value proposition, navigating and working with a large financial institution, and providing access to other key executives in compliance, CRA, and customer service so we could gain valuable feedback.  At the end of the program, we were honored to be selected as one of the winners but were most excited by the opportunity to continue exploring a long-term partnership that could be a win for both of our organization and for BMO Harris consumers.

As one of our mentors, Ben Schack, Managing Director & LTO, US Lending & Collections, BMO Financial Group stated, “SpringFour was a top three finalist in our 2017 BMO Harris Fintech Partnership Program due to their unique value proposition, a genuine focus on financial wellness, and ease of deployment.  We continue to be excited about their results and their potential for further impact.”

Over the past year, we have been able to work with BMO Harris to advance our partnership forward, continuing to benefit from the relationships we established through the 2017 BMO Harris Fintech Partnership Program. It has been a tremendous experience to work with numerous BMO Harris team members and executives, and we are continually impressed by their commitment to their customers and to innovation.

“We are excited to take a step forward in enhancing the level of financial support we offer our customers by leveraging SpringFour’s resources,” said Ernie Johannson, the head of U.S. personal and business banking at BMO, in a statement. “We are committed to aiding customers in their journey to achieve and sustain financial stability.”

The news of our partnership was picked up by a variety of media outlets including Crain’s Chicago BusinessChicago Business Journal, and Chicago Inno. And you can read the press release here.

We look forward to continuing our work with BMO Harris Bank and the impact that we will create together. At SpringFour, we value the opportunity to innovate with leading organizations who believe financial wellness is in everyone’s best interest.

If you want to learn more or see a demo, don’t hesitate to reach out to Katie.


Rochelle Nawrocki Gorey

Co-Founder & CEO

Industry Recognition

                 

 

GET IN TOUCH

For all inquiries:
866-732-2246

Chicago Office at 1871
222 Merchandise Mart Plaza Floor 12

JOIN OUR COMMUNITY

STAY UP TO DATE WITH SPRINGFOUR