Rochelle Nawrocki Gorey, CEO of SpringFour, talks with TastyTrade hosts Kristi Ross and Tony Battista about our mission to help consumers achieve financial health through our partnerships with financial institutions, cutting edge fintech companies and non-profits.
You can watch the full interview here.
Through our innovative, SaaS platform, we help consumers more readily access financial resources, leading to greater financial freedom and opportunity.
As a part of the cohort, we’ll be participating in a 10-week boot camp and investment fund that will accelerate our mission and vision along with those of the other ventures that are working to improve financial outcomes and prepare families for financial success.
The 12 companies and their teams start the 10-week boot camp in Atlanta (April 17-20) then travel to New York (May 16-19) and Seattle (June 20-23). The boot camp includes mentoring, education, peer support, and networking. Each of the sessions includes a pitch night so please come by and say hi.
We are thrilled to join the Civic Accelerator, an influential leader for social entrepreneurs, and grateful to learn and grow alongside an extraordinary group of social impact ventures that are committed to increasing access to financial health and economic mobility.
CEO and CoFounder Rochelle Gorey was recently featured on the BAI Banking Strategies Podcast, a weekly podcast focused on key issues facing financial services leaders in order to empower them to make smarter decisions.
Rochelle spoke to how financial institutions can benefit from making consumer consumer financial wellness a top priority.
Most Americans can’t afford an unexpected $400 expense and are living paycheck to paycheck. As increased awareness around financial health grows, more banks and financial institutions are looking for innovative ways to help their customers stay on top of payments and increase opportunities for savings.
Rochelle explains that connecting consumers to financial resources that allow them to save an extra $200 a month, for example, not only increases the rate at which they are able to make payments, but it strengthens the banking relationship.
If a consumer feels that their banking partner is taking a genuine interest in understanding their unique situation, and then assisting them in finding the resources to help, they are far more likely to trust and continue to bank with that institution. Additionally, as their financial situation improves they may be eligible to purchase better financial products.
Listen to the entire podcast to hear more about the importance of financial wellness in banking and visit our site to see how SpringFour is working with financial institutions to help their consumers access important cost-saving resources and improve payments.
In the Fall of 2016, SpringFour was selected to join 1871’s WiSTEM cohort, a program designed to foster success and opportunities for women in technology through intensive mentorship and programming. As part of the cohort, our team went through the rigorous twelve-week program along with twelve other women-led tech companies, culminating in a final showcase.
The WiSTEM showcase was held in February, where each of the Fall 2016 WiSTEM cohort companies presented and their hard work was celebrated. The showcase allowed each of the companies the opportunity to communicate their mission to an enormous crowd of over 500 leaders in the tech community throughout Chicago. Additionally, the attendees included students from the Walt Disney Magnet School Computer Science Club and the Chicago-area members of the Young Entrepreneurs Academy, inspiring the next generation of innovators and creators.
WiSTEM cohort members with 1871 CEO, Howard Tullman.
SpringFour was able to showcase to this audience not only the platform’s capability to connect consumers to financial resources, but why consumer financial health is also great for business. CEO Rochelle Gorey shared real stories of consumers whose daily financial lives and health were transformed because they were allowed access to excellent resources. Connecting these consumers to the right resources significantly changes their financial outlook and in turn improves the rate at which they are able to pay back a loan or pay off their credit card debt.
SpringFour is uniquely beneficial for both consumers and businesses alike, and the opportunity to showcase the impact of our win-win model to an audience of leaders in the Chicago tech community was invaluable.
WiSTEM also provided the opportunity to work closely with, and learn from, the fellow women in our cohort. As we each continue to work on strengthening our businesses, even after the conclusion of the WiSTEM program, the cohort group will build upon these relationships. These fellow founders and CEOs have inspired us and proved to be invaluable sources of support and guidance as we continue to grow. We are extremely grateful to have been a part of this amazing group of entrepreneurs and to have the support of the community at 1871.
As part of 1871′s WiSTEM program, each week founder’s have a session fondly referred to as “RockStar Roundtable” in which founders and CEOs of startups come to share their journeys in the start up world. It’s easily become a session favorite for all of the women participating in the cohort. It allows us an opportunity to get a glimpse into the daily lives and grinds of those that have come before us, for those looking in from the outside at those that have “made it.” It’s an opportunity to hear of mistakes and achievements made, pivots, and daily doubts.
Hearing the real and often raw experiences behind a founder’s journey has stoked the fire in our bellies that motivates us to turn dreams and visions into the next big thing. To hear the similarities of what it takes to build successful companies and know that we are not alone in our struggles and doubts is incredibly powerful.Success is certainly not born overnight rather often a result of a series of small, yet significant actions and moments that gain traction and attention from the outside world.
The “Rockstars” have shared the highs and the lows, the seemingly endless days of doubts and worry that come from starting and running a business, the sleepless nights wondering how payroll will be met, or rebounding from a bad hire, and the joy and validation of receiving that first check. To say it’s helpful to hear common themes on the road to success is a huge understatement.It’s the oxygen to our face mask. We are not alone.
In this latest roundtable, the rockstar wisely suggested that as entrepreneurs we continue to keep focused on the why of our business. It’s easy to get caught up in the what of our business which can lead to to detours that aren’t always recognized as such until it’s too late. This can result in bad decisions, time and money wasted and momentum lost. The “why” must be kept front and center.
At SpringFour, we are focused on the why- making certain consumers have better opportunities to pay their bills, build savings and financial resiliency. Every day, through the SpringFour platform, we help people save money, get caught up on bills, and live a more financially secure life.
With SpringFour, a senior citizen can reduce her prescription costs from $600 to $300 a month allowing her a little more cushion to pay her other bills and a family who once spent over $100 a month on check cashing fees is now banking with a mainstream financial institution and can use that savings towards other household expenses.
Each month, SpringFour is making over 100,000 referrals that result in savings just like these for thousands of families across the U.S.
It’s these stories of impact that provide us with the why of what we do and motivate our team to stay focused- curating additional resources, enhancing our technology and user experience, and reaching out to potential subscribers—because we believe that consumers need and deserve to be connected to local resources that can and will make a difference in their financial lives. It hasn’t been easy building a for profit company with a non-profit mission but we recognize that it can be a win win for our subscribers and their customers. And it’s the why that keeps us going.
Maggie Kaiser joins the SpringFour team as a Client Success Manager. Maggie brings 7 years of experience of working in Corporate Social Responsibility and managing leaders in supply chain management. She has worked with several of the top Fortune 500 companies developing and executing their internal Code of Conduct. Maggie will be taking part in strategic efforts to boost client engagement and support SpringFour’s client deployment efforts. Maggie is bilingual in Spanish and has lived in several countries, including Chile, where she worked in international trade and focused on earthquake relief organizations.
Dr. Collins is a nationally recognized expert in the loss mitigation/foreclosure industry and professor of Consumer Finance at the University of Wisconsin-Madison. His studies on consumer behavior insights focus on the role of information in consumer decision-making, especially for low-income households. Michael has studied consumers in the financial marketplace for more than a decade and has published many articles on consumer responses to foreclosure, the role of default counseling, and the effects of consumer protection policies.
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