Credit counselors use FinLocker to improve credit mediation results
FinLocker supports your consumers’ credit remediation strategies
FinLocker is the high-tech, high-touch financial fitness platform that compliments your credit counseling advice.
FinLocker offers a suite of credit remediation tools and educational resources that empower your clients to improve their credit score, monitor their credit report and payment history, and start making informed financial decisions.
While working with you to repairing their credit, your clients can use your branded private-labeled FinLocker to manage all of their financial accounts in one place.
- Visual analysis showing where they are spending their money
- Set self-paced financial goals
- Document their budget to save and pay down debt
- Track results in real-time
- Make informed credit actions and decisions using an interactive credit simulator
Along the way, FinLocker sends notifications that recognize when there has been a change in credit score or an alert has been placed on a credit report financial and provides encouragement to get back on track when they slip.
For your clients who have repaired their credit history, and would like to get a mortgage loan, a readiness assessment inside the app perpetually analyzes their enrolled financial data to show their progress towards loan qualification. With the results in hand, they can use the dynamic home affordability calculator to learn how much home they can afford, a monthly mortgage payment that fits their income, and estimates much they should save for the down payment and closing costs. The FinLocker app then guides customers on a personalized journey to achieve mortgage readiness.
Your client can be referred back to the lender who referred you or one of our partner financial institutions for their mortgage application.
Your customers will be engaging with your branded private-labeled FinLocker platform to improve and maintain their financial health, helping you increase their level of engagement while enhancing customer relationships and revenue growth.
Fewer than 1 in 5 consumers obtain copies of their credit reports every year.
FinLocker users can opt in to see their credit score every time they log in.
Empower your clients with financial tools and resources to repair their credit and achieve financial goals
- Clients can receive their Vantage 3.0 credit score, credit report, and credit monitoring from TransUnion. FinLocker does a soft credit pull, so there is no impact on your client’s credit score.
- Interactive credit simulator takes the guesswork out of credit decisions by showing them how the decisions they make can lower or increase their credit score in the future.
- Clients can opt-out of direct marketing from financial companies within the app, reducing the temptation to open additional accounts.
- View and manage all banking and credit card accounts, loans, and other debts in one place.
- Monitor payment history for every enrolled loan and credit card.
- Set financial goals, create budgets and track progress in real-time to pay down debt, save for a loan, or achieve individual financial goals.
- The spending analysis and customizable budget tools help your clients easily manage debt reduction plans.
- Readiness assessment shows real-time progress towards home loan qualification.
- Library of educational resources and videos will compliment your service by helping reiterate or supplement additional information on how to improve their overall financial literacy.