Fintech One•On•One JB Orecchia of SavvyMoney on building credit score solutions for banks, credit unions and fintechs
The humble credit score has come a long way. Consumers, particularly younger consumers, are more aware of their credit score today than ever before. Historically, banks and credit unions have been the gatekeepers of our financial lives so it makes sense that they would want to provide information and context around credit scores. At the same time drive their customers to relevant products based on this information. Enter SavvyMoney.
My guest today on the Fintech One-on-One podcast is JB Orecchia, the CEO and Founder of SavvyMoney. His team has created a sophisticated platform for banks and credit unions to provide credit score information as well as personalized education and product recommendations. So, a bank's customer doesn't have to go to Credit Karma to learn about their credit score, they can do it right within the banking app.
In this podcast you will learn:
- How his background in lending informed the creation of SavvyMoney.
- Why consumers are more aware of their credit score today.
- The types of financial institutions that use SavvyMoney.
- The ROI for the typical bank or credit union.
- Why this is most powerful as a retention product.
- The integrations they have with the major digital banking platforms.
- What is involved for a new financial institution to onboard SavvyMoney.
- The tiny fraction of consumers who opt out.
- The primary product categories their FIs are focused on.
- How banks can compete with fintechs in customer acquisition.
- Why their Get My Rate product is such a big deal for FIs.
- How they are thinking about Generative AI for SavvyMoney.
- JB's vision for the future of SavvyMoney.
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