Elevate's Rise Brand Announces Partnership with SpringFour
July 15 2020 - 4:15PM
Business Wire
Elevate Credit, Inc. (“Elevate”), a leading
tech-enabled provider of innovative and responsible online credit
solutions for non-prime consumers, announced today a new
partnership between its Rise brand and SpringFour, a social impact
fintech company.
Under the partnership, all Rise customers will gain access to
SpringFour’s database of trusted local, state and national
financial wellness resources. These services are being offered at
no cost and will complement other free services available to Rise
customers through Elevate’s customer portal, such as financial
literacy videos and credit monitoring.
“This partnership with SpringFour furthers our mission of ‘Good
Today, Better Tomorrow,’ which aims to help customers build a
brighter financial future,” said Jason Harvison, President and CEO
of Elevate. “Financial literacy and easy-to-use tools are at the
heart of that mission, and so we’re thrilled about SpringFour’s
meaningful additions to our existing efforts.”
"The resources provided by SpringFour can help make a difference
in the financial lives of consumers, and we depend on our trusted
partners to make this assistance broadly available," said Rochelle
Nawrocki Gorey, Co-Founder, President and CEO of SpringFour. "We
seek out companies like Elevate that not only embrace the idea of
helping customers on the path to financial health, but provide the
resources to achieve that goal as well, especially to non-prime
consumers and even more so in these stressful financial times."
Elevate cites a recent Fed study which found that 40% of
Americans are unable to cover an emergency $400 expense as the
continued impetus for partnerships with organizations like
SpringFour.
“Clearly, many Americans are struggling financially, and the
pandemic has exacerbated their hardship,“ said Harvison. “Data from
our own Center for the New Middle Class shows that non-prime
Americans, defined as those with credit scores below 700, face the
biggest financial obstacles. To the extent we can help consumers
better understand financial health best practices, or get them the
help they need from other trusted organizations through our new
link to SpringFour, we will continue to work hard to make such
resources available.”
About Elevate
Elevate (NYSE: ELVT), together with its bank partners, has
originated $8.4 billion in non-prime credit to more than 2.5
million non-prime consumers to date and has saved its customers
more than $7.0 billion versus the cost of payday loans. Its
responsible, tech-enabled online credit solutions provide immediate
relief to customers today and help them build a brighter financial
future. The company is committed to rewarding borrowers’ good
financial behavior with features like interest rates that can go
down over time, free financial training and free credit monitoring.
Elevate’s suite of groundbreaking credit products includes RISE,
Elastic, and Today Card. For more information, please visit
http://www.elevate.com.
About SpringFour
SpringFour is the only Certified B, social impact fintech
company that helps financial services institutions limit risk by
empowering improved payment performance and increased customer
engagement. Trusted by BMO Harris Financial Group, Beneficial State
Bank, Oportun, and more, SpringFour’s suite of financial health
cloud-based solutions for financial institutions provide vetted
financial resources to millions of customers and enable them to
meet financial objectives, reduce household expenses, and avoid
payment delinquencies. More than 95% of our financial institutions
report that their customers experienced increased affinity for
their brands after receiving a referral from SpringFour. To learn
how SpringFour can benefit your financial institution, visit
springfour.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20200715005838/en/
Investor Relations: Solebury Trout Sloan Bohlen,
817-928-1646 investors@elevate.com or Media Inquiries:
Solebury Trout James McCusker, 203-585-4750
jmccusker@soleburytrout.com
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