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Elevate Credit Introduces Elevate.com, a Data-Driven Financial Wellness Platform for Non-Prime Consumers
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Rhea-AI Summary
Elevate Credit (NYSE: ELVT) has launched Elevate.com, a new platform designed for non-prime consumers, providing a financial marketplace and educational resources aimed at enhancing financial resilience. This site leverages insights from TransUnion and Elevate's extensive customer experience to offer tools such as personalized credit improvement strategies, customizable reports, and a borrowing marketplace. All resources on Elevate.com are free, requiring users only to sign up for account access. The aim is to empower over 170 million non-prime Americans in managing their financial health.
Positive
Launch of Elevate.com offers free resources to non-prime consumers, potentially expanding customer base.
Personalized credit improvement tools can increase engagement and customer loyalty.
Collaboration with TransUnion enhances credibility and resource quality.
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FORT WORTH, Texas--(BUSINESS WIRE)--
Elevate Credit, Inc. (NYSE: ELVT), a leading tech-enabled provider of innovative and responsible online credit solutions for non-prime consumers, today announced the launch of the new Elevate.com. This groundbreaking website was specifically designed for non-prime consumers providing a financial marketplace and empowering educational tools for improving financial resilience. The site reimagines financial literacy to upend the traditional approach to financial wellness by leveraging credit data from Transunion, consumer insights from the Center for the New Middle Class, and Elevate’s customer experience expertise gleaned from years of serving American households. The website offers engaging content to help consumers improve their credit scores, understand how their values impact their finances, and demystify the world of personal finance.
“Elevate.com combines insights that are grounded in data to create a cutting-edge user experience that can address the complex needs of the non-prime population—more than 170 million Americans,” said Jonathan Walker, Executive Director of the Center for the New Middle Class, Elevate’s internal thinktank that conducts research, surveys and focus groups on the non-prime demographic. “Using longitudinal data and statistical analysis, our team designed a destination for anyone seeking flexible credit options and actionable guidance on the path to financial resilience.”
In order to help the non-prime population tackle financial obstacles with confidence, Elevate.com features an array of unique resources:
Personalized ideas for how individuals can increase their credit scores by up to 40 points
Customized reports with value-based actions to help visitors realize their financial goals
Ability to explore how other people in similar circumstances improved their credit scores
Step-by-step credit repair instructions to avoid paying a company for the service
Detailed explanation of how credit reports and scores work and what consumers can do to achieve better financial health
A borrowing marketplace where visitors can access a range of financial products depending on their unique needs
None of the resources on the website exist behind a firewall and all of them are free. Visitors will need to sign up for an account in order to save information and track their progress.
Matt Komos, Vice President, Global Head of Scores and Attributes at TransUnion added, “The tools on Elevate.com provide a consumer the ability to utilize individual, anonymous credit score data to help them understand their own credit journey relative to other consumers. We commend Elevate for developing financial wellness tools that are innovative and data driven. These tools are poised to make a meaningful impact on the lives of those facing financial setbacks, which are oftentimes outside of their control.”
“There is nothing else like Elevate.com in the marketplace today,” said Jason Harvison, Chief Executive Officer of Elevate. “We are leveraging our twenty years of experience in the industry with our deep relationship with TransUnion to give consumers an unprecedented view into the workings of financial improvement. I couldn’t be prouder of our efforts.”
About Elevate
Elevate (NYSE: ELVT), together with the banks that license its marketing and technology services, has originated $10.0 billion in non-prime credit to more than 2.7 million non-prime consumers to date. Its responsible, tech enabled online credit solutions provide immediate relief to customers today and help them build a brighter financial future. The company is committed to rewarding borrowers’ good financial behavior with features like interest rates that can go down over time, free financial training and free credit monitoring. Elevate’s platform powers a suite of groundbreaking credit products includes RISE, Elastic, Today Card and Swell. For more information, please visit http://corporate.elevate.com.
About TransUnion (NYSE: TRU)
TransUnion is a global information and insights company that makes trust possible in the modern economy. We do this by providing an actionable picture of each person so they can be reliably represented in the marketplace. As a result, businesses and consumers can transact with confidence and achieve great things. We call this Information for Good®.
A leading presence in more than 30 countries across five continents, TransUnion provides solutions that help create economic opportunity, great experiences and personal empowerment for hundreds of millions of people.
