by SpringFour | Nov, 29, 2017 | Default, Post - Insights
SpringFour is proud to report out on our partnership with U.S. Bank. This partnership is a model for how financial institutions can engage their customers to provide financial health resources and see benefits for their customers, their employees and the bottom line for the bank.
SpringFour and U.S. Bank first partnered in October of 2016 to bring local financial health resources to their mortgage customers. They have seen impressive results. Click here to read the full report.
U.S. Bank recognized that their mortgage customers who were in distress needed additional assistance. They wanted a solution that could not only help address the root causes behind their borrowers’ financial distress, but could also be provided by customer service Agents within the Bank. SpringFour provided an opportunity to utilize technology to easily assist customers across the country.
Not only has U.S. Bank been able to provide assistance to their customers, but they have also seen great benefits for the Bank. U.S. Bank has seen benefits in enhanced customer service experience, increased participation in foreclosure prevention activities, and increased repayment rates.
The partnership has already received recognition as a finalist for the BAI Global Innovation Award in the Breakthrough Collaboration in Financial Services Category.
“S4desktop empowers our agent effectiveness beyond traditional collections and workout strategies. With the additional help of local resources, our customers are more likely to gain control of their expenses and overcome financial difficulty.” –Scott Rodeman, SVP, U.S. Bank Mortgage Servicing, Default Operations
SpringFour is extremely proud of our partnership with U.S. Bank. To learn more about how you can bring these benefits to your customers and your company, contact us. We’d love to talk to you.
by SpringFour | Nov, 21, 2017 | Default, Post - Insights
We have had an amazing year at SpringFour. We are thankful. It’ s a year in which we have seen new customers adopt our technology, and existing customers fully implement and see impressive result for their borrowers and their repayment rates. We’ve received a lot of outside validation that our work is important and significant. As a founder, I could not be more proud of our team and our impressive results. This year we are on pace to make more than 1 million referrals to financial health resources.
What does that tell us? More and more families are searching for ways to save money and need help meeting their monthly expenses. We believe that helping to route people to non profit and government resources is absolutely critical to helping people achieve better financial health. And it doesn’t have to be complicated.
Our technology makes it simple and easy for our subscribers to make referrals part of their workflow. For example, U.S Bank now uses SpringFour in every single interaction that they have with in their mortgage servicing operations. Why? Because it helps their customer service agents provide better customer service, it demonstrates to their borrowers that U.S. Bank is committed to helping them succeed, and it increases foreclosure prevention activities and drives better repayment rates. Simple steps that lead to significant results.
LendUp provides its borrowers with SpringFour referrals because they understand that if they want to get repaid; it’s in their best interest to help their borrowers reduce their household costs. And, the best part about it? Their borrowers are not only able to save money because of SpringFour referrals, they feel better about LendUp too. Borrowers who receive help from their lender feel better because their lender has made the effort to not just loan them money but has taken the time to understand that they might need help.
We are seeing more and more companies take an interest in financial health and looking for ways to help their customers or employees live better financial lives. Just today, Prudential had a full-page ad in the Business section of the Chicago Tribune urging employers to think about how to build better pathways to financial health and to join them in their work with the Aspen Institute.
That is very exciting for us at SpringFour. We’ve known for a long time that people’s financial lives can be complicated and messy. Typically, it’s not just one bill or issue that gets in the way of better credit scores, or staying current on their mortgage. That’s why we built the technology that allows our subscribers to address the root causes behind a person’s financial challenges and have over 30 different categories of resources available. Living paycheck to paycheck is complicated, but with SpringFour our resources make it simple to help people in times of need.
The SpringFour team works hard each and every day always certain to keep financial health at the forefront of every decision we make. Whether that’s adding new service categories as we understand the issues facing consumers or working on product enhancements and features that will drive engagement with our applications, we know that each decision must result in the ultimate goal of directing people to organizations, resources, and products that will help them achieve better financial health.
This year, we are especially thankful that more and more companies recognize that creating opportunities for financial health is best for everyone. And we are extremely grateful for those partners that we are already working with to help more and more families move beyond paycheck to paycheck.
Rochelle Nawrocki Gorey
Co-Founder & CEO
![Fintech Panel at the Center for Financial Security at UW-Madison]()
by SpringFour | Nov, 7, 2017 | Default, Post - Insights
On October 5, SpringFour had the privilege to participate on a Fintech Panel hosted by the Center for Financial Security at University of Wisconsin – Madison. The panel entitled “FinTech: Innovations for Family Financial Security” explored the potential for financial technology to address the needs of underserved consumers. This is obviously a topic close to the heart of all that we do at SpringFour, and we were excited to present our work and think together about how financial technology can continue to innovate in this segment.
We were joined on a panel by other financial technology companies including, Shift Savings, American Family Insurance, M1Finance, and SafetyNet. Each of us presented on our technology solutions, and how we specifically were addressing the needs of underserved consumers. After the panel, there was a lively discussion and Q & A with the audience.
Photo: Rourke O’Brien moderates the panel including Mark Greene, Ryan Rist, Michael Savino, Katie Donohue, and Craig Sweeney
The event also included keynote speaker, Ida Rademacher, Executive Director of Aspen Institute Financial Security Program. Her remarks centered on what is the role of FinTech for expanding financial inclusion, and how technology and policy can together address needs of the underserved.
Photo: Dr. J. Michael Collins leads the Q & A with Ida Rademacher
It was an energizing day filled with big ideas. Lots of great discussion was had with students, community members, researchers, and leaders in the financial technology space. We’re excited to see innovative programs for students who want to address the needs of the underserved through new technology. It is also great for SpringFour to contribute to the conversation and share our story.
We know that we are bringing about real financial change to those who need it. Using financial technology to bring financial resources and opportunities to the underserved is essential. As technology becomes ever more prevalent in the financial services space, we can use it to break down barriers and bring services to communities and individuals who may not have had access before. SpringFour has been doing this since 2005, and is excited to continue to innovate in this space.
Katie Gottschall Donohue, Vice President, Strategy and Operations
SpringFour, Inc.
![Fintech Panel at the Center for Financial Security at UW-Madison]()
by SpringFour | Oct, 24, 2017 | Default, Post - Insights
(Pictured above, SpringFour Co-Founder and CEO, Rochelle Gorey, and SpringFour VP of Data Integrity and User Experience, Cassandra Compton at SOCAP)
Last week I had the opportunity to spend a day with social impact entrepreneurs from around the globe. It was an incredible opportunity and a powerful experience. I met founders from India, East Africa, West Africa and so many other places, including many from the United States. All of whom are focused on creating social impact through the start-ups that tackle some of the biggest issues facing people around the world. Each of these entrepreneurs is thinking about how to do so in a way that hasn’t been done before or bringing issues to the forefront that previously were not given much thought.
How did we all end up in one place? I was selected as one of the 150 promising social entrepreneurs to receive a scholarship to attend the SOCAP Conference and attend a one-day Social Impact Accelerator. This year’s conference was held in San Francisco October 9-13, 2017.
Billed as the “world’s leading conference on activating the power of capital markets to drive positive social and environmental impact – convening the marketplace at the intersection of money and meaning. The conference brings together impact investors, social entrepreneurs, philanthropists, business leaders and other innovators from across the world in a unique cross-sector approach to catalyze collaboration for change.”
Not only did I meet amazing entrepreneurs but I also had the chance to meet investors focused on social impact investing, companies looking to make change in the world, and touch base with some of SpringFour’s current customers who are focused on bringing financial health to their borrowers.
I came back from a busy, jam-packed Conference feeling even more inspired and motivated to keep pushing for solutions that offer people thoughtful solutions and resources that can bring about better financial health.
You can read more from some of the social entrepreneurs, including me, featured here in a Huffington Post article.
Rochelle Nawrocki Gorey
Co-Founder & CEO
![Fintech Panel at the Center for Financial Security at UW-Madison]()
by SpringFour | Oct, 17, 2017 | Default, Post - Insights
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.
![Fintech Panel at the Center for Financial Security at UW-Madison]()
by SpringFour | Oct, 12, 2017 | Default, Post - Insights
Building strong partnerships with our subscribers is fundamental to what we do at SpringFour. We love to work through how best to structure a partnership, strategize on tracking consumer outcomes, and how to uncover the benefits for both our subscribers and their customers.
We began working with LendUp in 2016, and from the start it’s been a tremendous partnership. We worked together to define parameters for outcomes measurement and how to assess customer savings, repayment rate improvement, and how opinions about LendUp change over time.
LendUp began offering SpringFour referrals on their website, and quickly saw their customers respond. After conducting a joint test, LendUp found that customers who accessed SpringFour’s resources were able to lower their monthly expenses and had higher repayment rates versus customers that didn’t use Spring Four. Beyond that, customers also felt more positive about the LendUp brand after receiving referrals. Read the full Case Study on the results of the LendUp/SpringFour partnership here.
“Our partnership with SpringFour is a win-win-win,” said LendUp CEO Sasha Orloff. “We’re helping SpringFour gain critical mass on their platform, we’re helping our customers find much needed savings in their ongoing monthly expenses, and we were able to very quickly gain a positive return on our investment in the service. It’s a perfect example of how we can use partnerships to boost our customers’ financial health and the health of our company.”
SpringFour is incredibly proud of these results. We know that SpringFour referrals impact consumers’ budgets by getting at the root cause of their financial hardship, giving them the ability to pay and save again. We also know that our subscribers benefit as well, increasing repayment rates and building brand loyalty saves our subscribers both time and money.
To learn more about how you can bring these types of savings to your company and your customers, contact sales@springfour.cc.
Katie Gottschall Donohue, Vice President, Strategy and Operations
SpringFour, Inc.
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