SpringFour Founder & CEO Wins Finovate Innovator of the Year

SpringFour Founder & CEO Wins Finovate Innovator of the Year

SpringFour Founder & CEO Wins Finovate Innovator of the Year

We’re thrilled to share that SpringFour Founder & CEO Rochelle Gorey won Finovate Innovator of the Year! 

The Finovate Awards “recognize the companies driving fintech innovation forward and the individuals bringing new ideas to life.” According to Finovate, this was “one of the most competitive awards to date with an impressive number of nominations of a very high standard” — and we are proud to be honored alongside other industry leaders.

The results are in: SpringFour has disrupted the financial industry in extraordinary ways, empowering leading banks, lenders, credit unions, servicers, fintechs, and more to prioritize their customers’ financial health with customized resources that meet their immediate needs. 

When we launched SpringFour in 2005, we dreamt of the day when financial health would become core to financial institutions’ promise to their consumers. Winning the Finovate Innovator of the Year award validates that we have arrived at that moment. Financial health is no longer an extra — it’s essential and expected, and our team is privileged to lead the way.

Rochelle Gorey

Founder & CEO, SpringFour

At a glance, SpringFour’s innovative suite of financial health solutions features:

  • A contact center tool, digital self-service offerings, and an API
  • Thousands of financial health resources in categories that meet every need from food savings to transportation assistance and childcare support
  • Improved payment performance, more satisfied employees, and stronger brands
  • Increased repayments, savings, and financial health for customers
  • An expert team that’s passionate about financial health win-wins

If you are not yet prioritizing your customers’ financial health with SpringFour, now is the time. Thanks to SpringFour’s innovative industry must-have, our clients — leading brands — are delivering millions of financial health resources to their customers.

Join top organizations already innovating with us and drive impact for your customers and your brand — in under 30 days. Please reach out to our team to explore our solutions by emailing impact@springfour.com.

Morgan Pierce

Impact and Communications Manager

Awards and Recognition

          

           

       

    

 

 

 

 

 

          

DRIVE IMPACT WITH US

info@springfour.com
866-732-2246

Chicago Office at 1871
222 Merchandise Mart Plaza

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SpringFour delivers financial health resources to combat rising transportation costs

SpringFour delivers financial health resources to combat rising transportation costs

SpringFour delivers financial health resources to combat rising transportation costs

CHICAGO, September 14, 2023 – SpringFour, the leading social impact fintech that provides access to thousands of financial assistance resources, will now deliver financial health resources to make transportation more affordable across the United States.

The average household spends almost $11,000 on transportation costs per year, and that number is expected to grow as costs continue to rise. Transportation is the single biggest expense for families following housing, accounting for around 16% of the average expenditures. Public transportation costs have increased by an average of almost 20% across the country in 2022.

SpringFour’s vetted nonprofit and government transportation assistance resources include low to no-cost vehicle purchases for qualifying individuals; car repair, maintenance, and gas assistance; public transportation subsidies; free non-emergency medical transport; and vehicle and ridesharing, among other programs.

In partnership with banks, credit unions, fintech lenders, servicers, employers, nonprofits, and more, SpringFour’s suite of products provides consumers access to financial assistance resources. Now, transportation financial assistance resources will be offered in addition to the tens of thousands of resources already available through SpringFour, including food assistance, affordable childcare, employment resources, healthcare support, rental resources, down payment assistance, home repair, prescription savings, and more. 

“Transportation is essential to helping people maintain jobs, continue their education, support the economy, and stay connected to their family and community. Everyone deserves access to transportation and resources that empower their financial health journey. We’re proud to work with top institutions to prioritize their customers’ financial health, and that includes helping people find ways to reduce their transportation costs,” said Rochelle Gorey, SpringFour Founder and CEO.

In 2022, SpringFour delivered 4.4 million financial health referrals to individuals, providing access to more than 22,000 vetted government and nonprofit resources in over 665 cities, towns, and metro areas through its direct-to-consumer digital tools and call center technology solutions. Customers save an average of $250 per month using resources recommended by SpringFour.

About SpringFour

SpringFour, the first-of-its-kind social impact fintech, empowers banks, credit unions, fintech lenders, employers, mortgage servicers, nonprofits, and more to connect consumers with vetted, local nonprofit and government financial health resources — increasing payment performance; powering consumer financial health, knowledge and capability; and driving ESG impact. Trusted by Capital One, BMO, M&T Bank, OppFi, Key Bank, Avant, Enova, Oportun, Mission Lane, and more, SpringFour is a Certified B Corporation, WBE, and the only woman-led, social impact fintech that provides value for origination, servicing, and collections, creating opportunities for enterprise-wide innovation. SpringFour’s product suite includes an innovative contact center tool, digital self-service models, and API. SpringFour delivered 4.4 million financial health resource referrals to consumers in 2022 in categories including food savings, rental resources, and more. To learn how SpringFour can benefit your organization, visit www.springfour.com.

Morgan Pierce

Impact and Communications Manager

Awards and Recognition

          

           

       

    

 

 

 

 

 

          

DRIVE IMPACT WITH US

info@springfour.com
866-732-2246

Chicago Office at 1871
222 Merchandise Mart Plaza

JOIN OUR MAILING LIST

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Q2 Impact Report: Why an empathy-first strategy benefits customers, employees, and organizations

Q2 Impact Report: Why an empathy-first strategy benefits customers, employees, and organizations

Q2 Impact Report: Why an empathy-first strategy benefits customers, employees, and organizations

Our Q2 Impact Report is here — and we’re thrilled to share the results of our winning empathy-first strategy. In partnership with banks, credit unions, fintech lenders, employers, servicers, nonprofits, and more, we are meeting real needs in innovative and effective ways. 

Take note of the critical metrics we found most compelling in Q2:

  • 1,250,100 financial health resources delivered in Q2
  • 58% increase in Mental Health resources delivered compared to Q1
  • 28% increase in Home Repair resources delivered compared to Q1
  • 17% increase in Prescription Savings resources delivered compared to Q1
  • 11% increase in Rental resources delivered compared to Q1

These needs reflect the current financial landscape. Six in ten Americans are living paycheck to paycheck, according to studies from CBS and CNBC. Two in three people who bought homes last year can’t afford their mortgage this year, according to Clever Real Estate. While it might not be as soon as we once thought, our data shows that demand for financial assistance remains. A looming recession will only exacerbate the financial challenges people are already facing.

Now is the time for organizations to step up, adopt empathy, and deliver relevant, innovative solutions that meet the specific needs consumers are facing at any given time. Not only does it help consumers’ financial health — it boosts customer retention, employee satisfaction, payment performance, NPS, ESG impact, and drives immense value for organizations.

After reading this Impact Report, we ask that you please do two things:

  1. Let us know: how do you channel empathy at your organization?
  2. Share this report with others in your network who appreciate win-wins.

Empathy matters — and it works. 

Morgan Pierce

Impact and Communications Manager

Awards and Recognition

          

           

       

    

 

 

 

 

 

          

DRIVE IMPACT WITH US

info@springfour.com
866-732-2246

Chicago Office at 1871
222 Merchandise Mart Plaza

JOIN OUR MAILING LIST

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Empathy First: SpringFour featured in American Banker and CX Leader Podcast

Empathy First: SpringFour featured in American Banker and CX Leader Podcast

Empathy First: SpringFour featured in American Banker and CX Leader Podcast

At SpringFour, we know this: An empathy-first strategy drives business results. Today, with inflation and a possible recession looming, financial institutions are working with SpringFour to put empathy front and center. Keeping empathy at the heart of what we do is critical to our success and the success of the brands that choose to use SpringFour. 

We’re thrilled to share that SpringFour is at the forefront of this critical movement with our empathy-first strategy spotlighted in American Banker and CX Leader podcast. Plus, we’re releasing a new empathy-driven product to meet businesses’ growing needs. Scroll down for more details. 

SpringFour’s Empathy-First Strategy in the News

“An empathy-first attitude that actively looks for ways to support customers in need will allow more people to return to financial stability, and build long-term positive relationships with their banks.”

Rochelle Nawrocki-Gorey

CEO & Founder, SpringFour

How an Empathy-First Strategy Creates Business Results

Together with SpringFour, financial institutions of all sizes are embedding empathy-first strategies across their lines of business — and it’s working. Empathy enables organizations to demonstrate an understanding of their consumers’ needs and deliver solutions that empower financial health while increasing repayment rates, delivering positive borrower experiences and outcomes, improving NPS scores, adding brand value, and more. 

Financial stress is a uniquely human experience, and it needs a uniquely human solution – one that erases the stigma of delinquency and empowers financial health. 

We know that innovative solutions can and should provide an equitable, empathy-first path forward. That’s why we continually respond to consumer and market needs with solutions that can truly make a difference for organizations. 

Introducing: SpringFour’s new financial health solution

We’ve listened to what companies and their customers want today — and we’ve delivered. To make it possible for financial institutions to deploy an empathy-driven strategy, we’re excited to release a brand new all-in-one, enterprise financial health solution.  If you’re interested in beginning or expanding your partnership with SpringFour, please reach out to us at impact@springfour.com.

“Look for ways to insert empathy into everything that you do, because when you do, it will come back to you in spades.”

Rochelle Nawrocki-Gorey

CEO & Founder, SpringFour

Morgan Pierce

Impact and Communications Manager

Awards and Recognition

          

           

       

    

 

 

 

 

 

          

DRIVE IMPACT WITH US

info@springfour.com
866-732-2246

Chicago Office at 1871
222 Merchandise Mart Plaza

JOIN OUR MAILING LIST

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Q1 2023 Impact Report: Explore How We Addressed Consumer Needs

Q1 2023 Impact Report: Explore How We Addressed Consumer Needs

Q1 2023 Impact Report: Explore How We Addressed Consumer Needs

Today, we are proud to share our Q1 Impact Report with you.

At SpringFour, impact is core to everything we do. A comprehensive look at the first quarter of 2023, this report delves into the consumer needs and financial industry trends we’re seeing. It demonstrates SpringFour’s unique position to deliver critical solutions to pressing needs. Every single day, our social impact fintech makes it possible for brands to help consumers in real ways — and that not only feels good, it makes business sense.  

Together with our partners, we delivered 1,248,781 financial health referrals to consumers this quarter — and as a result, we helped organizations improve repayment rates, boost customer engagement, power financial capability, empower employees, add brand value, and more.

As the economic environment changes, SpringFour is prepared with proactive updates to support consumers as soon as they are faced with a challenge. Since many Americans filed their taxes this quarter, we updated and strengthened our Income Tax Support offerings to help consumers receive all the tax credits they’re entitled to. Before Covid-19 public health emergency declarations ended last week, we updated the nonprofit and government resources in our healthcare-related categories and provided more detailed information about prescription savings programs offered by drug manufacturers, nonprofits, and governments; discounts on prescription medication; and more.

And none of this would have been possible without the SpringFour team and the support of our clients who drive impact for their consumers every day through SpringFour. 

After reading this impact report, we ask that you please do two things:

  1. Send us a note to let us know which trend surprised you the most. 
  2. Share this report with others in your network.

We are proud to drive impact with you. Thank you, as always, for your partnership.

Rochelle Nawrocki-Gorey

CEO & Founder

Awards and Recognition

          

           

       

    

 

 

 

 

 

          

DRIVE IMPACT WITH US

info@springfour.com
866-732-2246

Chicago Office at 1871
222 Merchandise Mart Plaza

JOIN OUR MAILING LIST

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Financial Capability Month: SpringFour is Financial Knowledge

Financial Capability Month: SpringFour is Financial Knowledge

Financial Capability Month: SpringFour is Financial Knowledge

Financial capability is knowing where to go for support. 

In a SpringFour survey conducted in 2020, we asked low- to moderate-income households if they were familiar with any resources that can provide assistance in helping reduce household expenses. 40% of respondents were not at all or not very familiar with these resources, while 43% were somewhat familiar. Only 17% of respondents were very familiar with resources that might be available to help them through a financial setback. 

That’s why, in honor of Financial Capability Month (formerly known as Financial Literacy Month), we are highlighting how SpringFour, together with our partners, is helping households across the country find the support they need. This knowledge empowers consumers not only to alleviate any current financial burdens but to know where to turn for support in the future to face financial challenges, pay off loans, and save money.

SpringFour’s Financial Health Resource Guides are a core piece of our financial education offering to help consumers navigate their finances and know where to turn for support. The Financial Health Resource Guides are authored by SpringFour’s team of professionals and provide money-saving tips on a variety of financial topics, including assistance with Medical Costs, Student Loan Repayment, and Paying for Home Repair. 

Using SpringFour, consumers gain access to a number of these guides as well as unlimited searches and referrals to nonprofit and government resources that are continuously manually updated by SpringFour’s team of experts, each with experience in social services, community development, or financial wellness. We offer resources in over 30 categories including food savings, employment services, small business support, and financial counseling. Over the last year, requests for our Financial Counseling resource offerings increased 28%. With SpringFour’s assistance, consumers not only have access to free financial counseling organizations in their own communities that can help them manage finances, pay down debt, increase savings, and establish and build credit — they also have the support of SpringFour’s Financial Health Resource Guide about Financial Counseling to access more resources and support.

Mission Lane, a like-minded, mission-driven fintech, uses SpringFour to help its customers improve their credit. In this GoBankingRates article, SpringFour’s partnership with Mission Lane is highlighted as a solution to help consumers reduce expenses and save. Organizations that partner with SpringFour not only empower their customers and deliver on their ESG goals, but also increase repayment rates and reduce delinquency, driving value for the organization to create win-win-wins. 

“From both our professional and personal experiences, we understand that financial setbacks happen, and people may need additional resources to overcome them. SpringFour’s financial health resources support our goal to provide individuals with a path forward and alleviate additional financial burdens.”

Shane Holdaway

CEO, Mission Lane

Mission Lane, a like-minded, mission-driven fintech, uses SpringFour to help its customers improve their credit. In this GoBankingRates article, SpringFour’s partnership with Mission Lane is highlighted as a solution to help consumers reduce expenses and save. Organizations that partner with SpringFour not only empower their customers and deliver on their ESG goals, but also increase repayment rates and reduce delinquency, driving value for the organization to create win-win-wins. 

“From both our professional and personal experiences, we understand that financial setbacks happen, and people may need additional resources to overcome them. SpringFour’s financial health resources support our goal to provide individuals with a path forward and alleviate additional financial burdens.”

Shane Holdaway

CEO, Mission Lane

Morgan Pierce

Impact and Communications Manager

Awards and Recognition

          

           

       

    

 

 

 

 

 

          

DRIVE IMPACT WITH US

info@springfour.com
866-732-2246

Chicago Office at 1871
222 Merchandise Mart Plaza

JOIN OUR MAILING LIST

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