Partnership will Explore the Impact of Gamification and Prizes on Savings Behavior
CHICAGO–(BUSINESS WIRE)–#fintech—Braviant Holdings, a leading provider of tech-enabled credit products and services for underbanked consumers, announced today that it has partnered with SaverLife by EARN, a national nonprofit that helps working families achieve prosperity through savings, to offer SaverLife to its customers.
The SaverLife platform is a free resource to help the 78% of Americans who are living paycheck to paycheck take control of their finances and establish better saving habits. SaverLife provides a variety of free resources ranging from digital financial coaching to cash prizes for members who set aside as little as $5 per week in savings. Braviant is sponsoring additional cash prizes above and beyond those offered by SaverLife to further incentivize positive savings behavior.
“As a lender serving the more than 50 million underbanked consumers who have been left behind by the big banks, we are acutely aware that the vast majority of Americans lack a savings cushion to smooth volatile income or cover an unexpected expense,” said Stephanie Klein, Chairman and CEO of Braviant. “In addition to providing better credit solutions for this deserving but often overlooked population, we are committed to helping our customers overcome the root causes of their financial instability. As we work to help borrowers with less-than-perfect credit graduate to lower rates over time on our Path to Prime, we cannot ignore America’s savings crisis as a primary driver of financial stress. Our partnership with SaverLife by EARN is a huge step forward toward helping our customers not only break through credit barriers, but also build better savings habits to secure a brighter future.”
“As a nonprofit, we are encouraged to see Braviant proactively address saving as a way to bring their customers out of debt,” said Leigh Phillips, CEO of SaverLife by EARN. “Adding opportunities to save is an important step toward addressing the areas in which consumers struggle financially. This partnership allows us to reach thousands of individuals and encourage them to begin or renew a savings habit.”
About Braviant Holdings:
Braviant is a leading provider of online credit products and services for underbanked consumers. Our next-generation approach to lending combines breakthrough technology and machine learning to transform how people access credit online. Braviant’s growing suite of financial products look beyond a traditional credit score to help deserving consumers achieve better financial outcomes as they embark on a Path to Prime®. Braviant currently offers its products through two brands, Chorus Credit and Balance Credit. To learn more about Braviant’s vision of A World without Credit Barriers and view open positions, visit braviant.com.
About SaverLife by EARN:
SaverLife by EARN is a nonprofit on a mission — to inspire, inform, and reward the millions of Americans who need help saving money. Through engaging technologies and strategic partnerships, we give working people the methods and motivation to take control of their financial future.