Credit counselors use FinLocker to improve credit mediation results
FinLocker supports your consumers’ credit remediation strategies
FinLocker complements your credit counseling advice with a suite of credit building and monitoring 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 repair their credit, your clients can use your branded private-labeled FinLocker to work on improving their overall financial health.
- 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 informing users when their credit score has changed or an alert has been placed on a credit report, and provides encouragement to get back on track when they slip. Counselors can also receive consumer-permisssioned data insights to monitor their clients’ progress and supplement your counseling advice.
Clients who have repaired their credit history and want to buy a home can get started using My Homeownership Snapshot inside their app to see their current status, receive a personalized action plan to overcome ficnial challenges, track their progress toward mortgage readiness. With the results, they can use the dynamic home affordability calculator to learn how much home they can afford and a monthly mortgage payment that fits their income. They’ll be shown the amount they should aim to save for their down payment and closing costs, and be encouraged to create trackable budgets and goals to save these costs.
Your client can be referred back to the lender who referred you or one of our partner financial institutions for their mortgage application.
Your clients 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.
Empower your clients with intuitive financial tools and resources to repair their credit and achieve their financial goals, including homeownership
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- 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 scores.
- 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 manage their debt reduction plans
- Track their real-time progress toward mortgage qualification and receive a personalized action plan to overcome any challenges