This quarter was unlike any other. SpringFour was recognized as the leader in financial health while delivering 1.25 million financial health referrals to individuals in this quarter alone. In addition to being named a Fast Company Brand that Matters, Finovate Innovator of the Year, and a Banking Tech Awards Finalist, a range of media amplified SpringFour’s timely and timeless empathy-driven work in prioritizing consumers’ financial health. 

Fast Company wrote: “In an industry that at times has not prioritized the financial health of consumers, SpringFour is taking a different approach to banking.”

Tearsheet’s article headlined with: ‘The bottom line is empathy’: BMO and SpringFour are changing what it means to bank on consumers’ financial progress.”

Banking Dive directly stated: “The social impact fintech points customers in need of financial assistance to nonprofit and government resources to help them get back on their feet.”

The Q3 Impact Report also covers resource enhancements including our new Transportation category and resource updates for student loan borrowers as payments resumed this quarter. 

Today, it is clearer than ever before — SpringFour is transforming institutions’ approach to their customers for good. Organizations that are committed to employing a customer-first strategy and elevating the customer experience know that prioritizing their customers’ financial health is essential. We are so proud to create impact with you.

Morgan Pierce

Impact and Communications Manager

On Be the Impact Day, we asked our team this: What does impact mean to you?

Our team’s answers highlight the importance and personal connection we have to our work at SpringFour. We are proud to work with our partners to drive win-win-wins. Big or small, we create moments of impact each and every day. 

To learn how you can drive impact with SpringFour, contact us at impact@springfour.com.

Morgan Pierce

Impact and Communications Manager

Morgan Pierce

Impact and Communications Manager

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. 

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

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

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