Long before financial health became a hot topic, SpringFour recognized that connections to local resources could help improve financial lives and increase repayment rates. MMI has a kindred mission in seeking to help families get through a financial crisis through counseling and debt management services. Read the case study to learn how the organizations have worked together to help renters maintain housing security in a time of crisis during COVID-19.
Since lockdowns began, our team added hundreds of carefully researched and vetted financial resources to our database and delivered more than 3.8 million financial resources to individuals struggling to stay afloat. And we did it all in partnership with many more like-minded banks, lenders, nonprofits, and employers. Our team members share in our own words how we met demand during our busiest year ever and what being part of the solution has meant to each one of us.
Enova and SpringFour are Chicago-based fintechs working together to improve families’ financial health. The two companies began to explore a partnership in October of 2019, and by the spring of 2020, Enova had launched SpringFour resources via S4direct to its CashNetUSA and NetCredit brands. Read the case study to find out more about how this partnership helped customers through the COVID crisis and beyond.
SpringFour today announced that it delivered almost 3.3 million financial health referrals to Americans in need in 2020. SpringFour increased its support with 37% more resources available and 21% more cities covered, and increased its subscribers by 43%, which included 44% more banking and lending clients including Avant, Elevate, Enova, and two of the top 10 U.S. banks and others, and 25% more nonprofit clients.
Each year, SpringFour surveys the users of its S4pro tool – agents and counselors who use S4pro to provide vetted financial resources to customers in need. The survey helps us get a finger on the impact our referral tool has on our clients’ business, their employees working directly with consumers in need of financial assistance, and customer outcomes. Among other insights, the survey shows that SpringFour has become an integral piece of many companies’ COVID-19 response strategies.
Read insights from SpringFour’s VP of Impact and Research, Katy Jacob, on an impending crisis in access to healthcare that would impact up to a third of the country. Healthcare costs and access impact every aspect of Americans’ financial health, and here at SpringFour, we have seen first-hand how the COVID-19 pandemic has led to the increased need for additional healthcare savings resources for families.