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.

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866-732-2246

Chicago Office at 1871
222 Merchandise Mart Plaza Floor 12

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Partnering to Address Financial Insecurity – SafetyNet & SpringFour

Partnering to Address Financial Insecurity – SafetyNet & SpringFour

 

 

 

The financial wellness space is quickly expanding, and companies in a variety of industries are increasingly bringing to market innovative products to address ever-growing financial challenges. One of these innovative companies is SafetyNet, which is backed by a multi-billion dollar group with 80 years of industry expertise. SafetyNet is on a mission to improve the financial lives of millions of hardworking people. They imagine a world where tens of millions of people have a financial safety net “to help them ride out the storms life hands out.” To do this, they are developing financial solutions that help individuals manage unexpected cash flow, bill payment and savings challenges.

SpringFour and SafetyNet were introduced to each other in 2017 and we were both immediately drawn to a shared vision of helping consumers steer through difficult financial times.  Understanding that SafetyNet’s products serve a similar population as SpringFour, we set out to build a partnership – knowing that these same individuals likely could benefit from referrals to local financial health resources.

SafetyNet understands that sometimes people need information or need to be pointed in the right direction to get their financial lives back on track. By leveraging free resources and tools on their website (including SpringFour), SafetyNet helps people navigate difficult times and get the help they so desperately need. SafetyNet also accesses SpringFour’s professional tool, where SafetyNet’s customer service agents can provide SpringFour referrals to those who need them over the phone.

“Partnering with SpringFour allows us to provide additional financial wellness resources to consumers who are struggling financially. Those facing unemployment or financial stress benefit from local referrals that SpringFour seamlessly provides,” stated Dan Murray, Senior Vice President at SafetyNet.

SpringFour finds it inspiring to work with a visionary company like SafetyNet that is not only creating innovative solutions but also seeks to get out there and talk to consumers about what they need, address gaps in the market, and deliver products that will really help those struggling to get by. What sets SafetyNet apart is that they are not just focused only on their own products, they are focused on people.

Tough times are going to happen, but with companies like SafetyNet and SpringFour working together to provide real solutions, the many that feel the pinch of life, will now have real ways to prepare for and address their financial challenges.

We at SpringFour are extremely proud of our partnership with SafetyNet and look forward to the years ahead where we continue to serve countless numbers of folks that need a helping hand.


 

Katie Gottschall Donohue, Vice President, Strategy and Customer Engagement

SpringFour, Inc.

Industry Recognition

                 

 

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For all inquiries:
866-732-2246

Chicago Office at 1871
222 Merchandise Mart Plaza Floor 12

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Best For The World

Best For The World

 

 

Recently, we were honored as one of the Best For the World by the B Lab.

Each year, the B Lab recognizes Certified B Corporations for their outstanding positive impact. As a part of this community, SpringFour is using business as a force for good.

And in doing so, we have a lot of happy customers.

As One of the Best For the World in the Customer category, we have been recognized as a company that “aims to improve the lives of their customers through the use of their product or service.”

To our team here at SpringFour, this honor means a lot. It’s honors what we strive to do every day at SpringFour—improve people’s lives through connections to important services, tools, and products that can help see them through a financial challenge and help them to better days. And this has been our goal since our company was founded back in 2005.

In order to be recognized in the Best for the World: Customers List for 2018, A Certified B Corporations needs to have a B Impact Assessment score in the top 10 percent of the entire global community. This assessment area measures the impact a company has on its customers by focusing on whether a company sells products or services that promote public benefit and if those products/services are targeted towards assisting underserved populations.

We are proud of our work, our team, and the commitment we have shown since day one to create access and pathways for people to get the help they need and deserve to live a financially healthy life. It’s an honor to have made this list.

We chose to undergo the rigorous process of becoming a Certified B Corporation because we want everyone we do business with to understand that at SpringFour, impact is what drives us each and every day. We want to hold ourselves to a higher degree of accountability and social impact. We believe our Certified B status tells our customers, partners, and other stakeholders that we are more than a financial technology company, that we are committed to our mission of connecting consumers to the local financial resources that they need and deserve.

We are especially pleased to learn that two of our customers, Beneficial State Bank and Sunrise Banks are also joining us on this list for their outstanding work and leadership. We are proud to be in their company.

You can find the complete list of all Certified B Corporations receiving this honor here

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