Financial institution clients are aided in connecting with financial assistance through SpringFour's services

In a time when financial stability is a pressing concern for many, SpringFour, a Chicago-based fintech organisation, is making strides to provide support. Originally founded as MortgageKeeper in 2005, the company has evolved and rebranded to SpringFour in 2015, with a renewed focus on helping individuals in financial distress.

SpringFour operates in over 30 areas, including employment, health insurance, and financial services. The organisation partners with major financial institutions such as Capital One, JPMorgan Chase, Bank of America, Bank of Montreal, KeyBank, M&T Bank, and others, to offer their customers access to a wealth of financial resources and support services.

The digital self-serve portal provided by SpringFour allows customers to seek help privately, while the call center and digital tools offered to financial institutions enable them to search for local assistance programs for their customers. This partnership aims to destigmatize the need for assistance by encouraging financial institutions to provide help when needed.

As of last year, SpringFour delivered 4.4 million financial health resources. This year, the fintech is on track to deliver more than 5 million resources, a testament to its growing impact. SpringFour's resources saw a surge in demand during the pandemic and the last government shutdown, highlighting the organisation's importance in times of crisis.

The most requested financial health categories are food savings, heating and utility costs, employment services, rental resources, and financial counseling. To make the process more comfortable for first-time aid seekers, SpringFour offers financial guides.

Financial institutions pay to use SpringFour's technology and have access to unlimited referrals. They also have the option to purchase licensing rights for the technology. This partnership model allows financial institutions to understand the value of long-term partnerships with fintechs to provide solutions promoting overall financial well-being.

Customers feel assured when they see their banks guiding them on ways to save and improve financial health. With SpringFour's resources accessible in over 665 cities across the country, the organisation is making a significant impact in promoting financial literacy and stability.

According to Gorey, over 60% of Americans struggle to pay their bills. SpringFour's mission to destigmatize the need for assistance and provide accessible resources is more important now than ever. The organisation continues to grow and adapt, ensuring that it remains a valuable resource for individuals and financial institutions alike.

Financial institution clients are aided in connecting with financial assistance through SpringFour's services