When Hurricane Helene made landfall in September, it left a wake of destruction across the Southeast and Appalachia. Within a matter of weeks, Hurricane Milton followed, causing even further devastating damage. A plan for delivering that support needs to be in place before disaster strikes, writes Rochelle Gorey, Founder & CEO of SpringFour, in this American Banker oped.

Mortgage servicer Fay Servicing reports that it has helped thousands of homeowners who are struggling financially through its partnership with SpringFour. Fay Servicing says it is making a significant impact by providing access to financial assistance and relief to thousands of borrowers facing personal and financial challenges.

Success in collections is traditionally defined in terms of efficiency, but it’s not the only model that works. Engaging with customers earlier, before they have slipped into severe delinquency, can be just as effective in keeping default rates low, and more effective in keeping net promoter scores high. Through its acquisition, SpringFour gives C&R Software’s clients more tools to engage their customers earlier in the debt management lifecycle.

In other merger & acquisition news, C&R Software announced it has agreed to acquire social impact fintech SpringFour.

SpringFour, a woman-founded company focused on financial health, has been acquired by C&R Software, part of Constellation Software. This move is expected to help SpringFour expand its reach and continue supporting individuals and families with financial tools and resources. C&R Software’s acquisition of SpringFour brings more resources and opportunities to a company making strides in the financial health space. This acquisition connects SpringFour with a more extensive network, allowing them to scale their services and help more people manage their finances.

Under the acquisition by C&R Software, social impact fintech SpringFour plans to continue innovating and bringing new solutions and products to the collections and debt recovery market. Constellation’s (C&R’s parent company’s) buy-and-hold policy ensures SpringFour has found a forever home for itself where the companies can grow with one another.