SavvyMoney, a provider of financial wellness tools and personalised loan offerings, has announced a new integration with TruStage to streamline loan application processes for financial institutions and their consumers by embedding insurance options into the system.
The integration allows financial institutions to offer borrowers access to TruStage loan protection products seamlessly.
This initiative enhances consumer awareness of available insurance options, enabling them to make informed decisions early in the loan process.
By educating borrowers on insurance solutions relevant to their specific loan types, the integration seeks to improve financial literacy and drive engagement.
SavvyMoney provides financial institutions with tools designed to enhance financial wellness through credit scoring, loan offers, and analytics. The company helps consumers understand their credit health and access personalised lending opportunities.
TruStage, formerly known as CUNA Mutual Group, delivers insurance, investment, and technology solutions to credit unions and their members.
The company focuses on financial security and offers a range of protection products designed to support consumers throughout their financial journey.
Since launching in December 2024, the integration has shown promising results. A pilot involving 48 credit unions demonstrated that over 40% of applicants expressed interest in TruStage insurance products during the loan application process.
A/B testing confirmed that the additional insurance content did not negatively impact loan application submissions.
The collaboration offers several key benefits, including seamless API integration, intent signal tracking, and tailored loan protection options.
Borrowers can indicate interest in TruStage products without committing to a purchase, allowing financial institutions to gather insights on consumer needs while ensuring a smooth lending workflow.
“SavvyMoney is committed to helping financial institutions deliver a more personalised and efficient experience for their members,” SavvyMoney president and CEO JB Orecchia said. “With 50 credit unions already active and more than 11,000 applications processed—it’s clear that this partnership with TruStage is successfully enhancing our users’ financial wellness while deepening consumer relationships. We’re looking forward to rolling this out to the rest of our TruStage clients.”
Implementation success through January 2025 includes:
- 50+ credit unions currently active on the platform
- 11,000+ applications processed
- 40% of consumers express interest in one or more insurance products
- 0% drop-off in applications due to additional insurance content
“At TruStage, we are dedicated to providing financial institutions and their members with accessible and affordable protection options,” TruStage vice president of lending payment protection Corrin Maier said. “Our partnership with SavvyMoney is a significant step forward in simplifying the loan application process while empowering borrowers to explore solutions safeguarding their financial well-being. We’re putting personalised financial protection within reach for more consumers.”
The integration works by embedding directly into the loan application process via SavvyMoney’s “Credit Score & More” feature. Borrowers can explore loan protection options in an intuitive interface that enhances the application experience. Financial institutions gain insights into applicants’ interest in TruStage products, allowing them to offer tailored financial solutions without disrupting existing lending workflows.
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