Boost Your Loan Applications: SavvyMoney and TruStage Unite for Seamless Insurance Integration
In a significant advancement for financial wellness, SavvyMoney has announced an exciting new integration with TruStage. This partnership aims to enhance the loan application experience by embedding insurance options directly into financial institutions’ systems, allowing consumers to make informed choices about their loan protection products.
Streamlining Loan Applications for Financial Institutions
The integration between SavvyMoney and TruStage is designed to simplify the loan application process for both financial institutions and their customers. By incorporating TruStage’s loan protection products, financial institutions can now:
- Enhance consumer awareness of insurance options available during the loan application.
- Improve financial literacy by educating borrowers on relevant insurance solutions.
- Drive engagement among consumers throughout the lending process.
Benefits of the Integration
SavvyMoney’s tools are tailored to promote financial wellness by providing credit scoring, personalized loan offers, and in-depth analytics. This collaboration with TruStage, formerly known as CUNA Mutual Group, aims to provide a comprehensive suite of insurance, investment, and technology solutions for credit unions and their members.
Since its launch in December 2024, the integration has delivered promising results, evidenced by a pilot program involving 48 credit unions. Key outcomes include:
- Over 40% of applicants showed interest in TruStage insurance products during the loan application.
- Zero drop-off in loan applications despite the addition of insurance content.
- Insights into borrower needs, allowing tailored financial solutions.
Quotes from Industry Leaders
“SavvyMoney is committed to helping financial institutions deliver a more personalized and efficient experience for their members,” said JB Orecchia, President and CEO of SavvyMoney. “With over 50 credit unions already active and processing more than 11,000 applications, our partnership with TruStage is enhancing financial wellness and consumer relationships.”
Corrin Maier, Vice President of Lending Payment Protection at TruStage, emphasized the importance of this partnership: “We are dedicated to providing accessible and affordable protection options. This collaboration simplifies the loan application process while empowering borrowers to explore solutions for safeguarding their financial well-being.”
How the Integration Works
The integration operates by embedding TruStage’s loan protection options into SavvyMoney’s “Credit Score & More” feature. This user-friendly interface allows borrowers to:
- Explore loan protection options seamlessly during the application process.
- Indicate interest in TruStage products without the obligation to purchase.
- Allow financial institutions to gain insights into consumer preferences.
This streamlined approach ensures a smooth lending workflow while enhancing the overall consumer experience. For more information about SavvyMoney’s offerings, visit their official website.
For further insights on TruStage’s products and services, check out TruStage’s website.
