How to Help Your Customers through the Phases of Disaster Response and Recovery

How to Help Your Customers through the Phases of Disaster Response and Recovery

How to Help Your Customers through the Phases of Disaster Response and Recovery

Living close to the Texas Gulf Coast, I have experienced multiple hurricanes and tropical storms, and each incident has been challenging in its own way, both before and after. Natural disasters can be shocking and life-altering, especially for those who aren’t adequately prepared. 

Recovering from a disaster has several phases, depending on multiple factors, including the severity of the disaster incident and the preparations taken before the disaster. At SpringFour, we offer multiple types of resources for consumers throughout the phases of preparation, response, and recovery. 

PREPARATION.

Because disaster resiliency starts with preparation, make sure that your customers are ready to address their needs. SpringFour provides contact information for Emergency Management offices in more than 300 cities and counties across the country, so that consumers can access the resources they will need before disaster strikes. How your customers prepare will influence how they navigate the phases of response and recovery. 

RESPONSE.

The first phase of disaster response is always an assessment of damages and an inventory of resources needed for general survival: food, shelter, water. Once the initial assessment is complete and survivors are confident that they have the resources they need to survive, the recovery phase begins.

RECOVERY.

Preparing a plan for managing income, expenses, and debt is key to recovery. 

SpringFour’s Financial Health Resource Guides provide information and resources for recovery for different types of disasters such as fire, floods, and tornados. The Guides also offer tips for navigating the application for federal assistance from FEMA, as well as other disaster benefits that survivors are eligible for. 

If a disaster declaration for a county includes Individual Assistance from FEMA, we add the declaration as a resource so that the application for assistance from FEMA is easy to find. 

Immediately following a disaster, resources generally come from national organizations and the federal government to address immediate needs. In the weeks and months after the disaster, as damage and resource needs have been assessed, local nonprofits and foundations get more involved and provide additional resources. 

We continually monitor for these additional local resources and add them as they come online. SpringFour understands that different types of resources are needed through the phases of disaster response and recovery, and works to ensure those valuable resources are available for your customers.

Contact resources@springfour.com to learn more about our disaster recovery category and how SpringFour can assist your customers. 

 Kate McCarthy

Director of Product Development, SpringFour

Industry Recognition

                 

 

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866-732-2246

Chicago Office at 1871
222 Merchandise Mart Plaza Floor 12

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How You Can Help Your Customers Become Recession-Ready

How You Can Help Your Customers Become Recession-Ready

How You Can Help Your Customers Become Recession-Ready

With a potential recession ahead, customers at varying points of their financial journeys are all feeling the impact of inflation and higher prices. Consumer debt is also rising. According to a recent article in The Financial Brand, credit card debt was up 13% in the second quarter of 2022 compared to the same period last year — the largest year-over-year increase seen in two decades. For the first time in the history of the Financial Health Network’s Pulse research, financial health has decreased over the last year. In fact, the report states, “Greater financial health declines appear to be on the horizon as inflation shows no signs of letting up, debt levels rise, and loan delinquencies grow.” 

As consumers face greater financial challenges than ever before, they need support from their employers and financial institutions to improve their financial health. Fortunately, SpringFour partners with financial institutions, lenders, fintechs, and employers to help people get back on track and improve their financial health. 

SpringFour’s contact center and direct-to-consumer cloud-based solutions give customers access to thousands of vetted and local financial health resources that meet their specific needs — from food savings to employment resources. 

SpringFour solutions create win-wins for businesses, customers, employees, and more. SpringFour has delivered proven results of increasing payment rates, improving customer and employee retention, and positively impacting businesses’ bottom lines. 

Together with SpringFour, one major bank delivered over 160,000 financial health referrals to customers in 17 months. The bank realized an estimated credit loss benefit of $1,000 per customer who received referrals over a 6-month period. 

This client example demonstrates the impact SpringFour can make on business bottom lines, employees, and consumers. SpringFour tools connect people with much-needed financial health resources while enabling financial institutions and fintechs to meet their ESG goals and empowering their customers to get back on financial track.

According to SpringFour’s user survey, 90% of agents report that SpringFour helps them provide better customer experiences and increase customer retention and/or collaboration. 86% of agents report that using SpringFour makes them feel better about the work they are doing.

“Customers who accept SpringFour referrals are measurably more likely to stay current on their loans and avoid charged-off balances. It more than pays for itself and we were also able to improve customer experience along the way.”

-Ben Schack, Head of Deposit Products, US Personal & Business Banking, BMO Financial Group

As daily expenses are on the rise and people face financial challenges, it’s vital to prioritize financial health and join the mission of increasing people’s financial health everywhere. We should all get behind financial health strategies and play an integral part in helping customers thrive despite financial circumstances.

“We are driven to support every facet of need in the markets we serve, delivering the capabilities of a larger bank with the care and empathy of a local institution. SpringFour is a like-minded partner. Their platform allows us to offer customers an easy way to locate local resources to address financial challenges and help them achieve financial wellness, so we can make a difference in their lives.”

-Richard Gold, CEO, M&T Bank

Morgan Pierce

Client Success and Impact Associate, SpringFour

Industry Recognition

                 

 

GET IN TOUCH

For all inquiries:
866-732-2246

Chicago Office at 1871
222 Merchandise Mart Plaza Floor 12

STAY UP TO DATE WITH SPRINGFOUR