Finances combined: Haboo and Griffin unveil 'pay-as-you-go savings wallet'
Haboo Money and Griffin Partner to Launch "Save-as-You-Repay" Wallet
In a move aimed at improving financial services for consumers, UK fintech Haboo Money and banking partner Griffin have joined forces to offer a innovative "save-as-you-repay" wallet. This wallet is designed to help borrowers build savings while making repayments, promoting financial discipline and healthier habits.
The partnership, announced in February, also aims to provide lenders with smarter, more sustainable ways to support their customers. By offering variable recurring payments (VRP) for loan repayments, the wallet encourages responsible overpayments and gives borrowers more control over their repayments.
Haboo Money's co-founder, Hannah Baynham, has identified the consumer debt crisis as an escalating challenge for both borrowers and lenders. Many people are relying on unsecured credit to make ends meet, according to Baynham. She believes that new financial technologies can address this crisis in a way that benefits everyone involved.
Griffin is providing the banking infrastructure that enables Haboo's innovative repayment solution. This partnership marks another instance of the bank supporting innovative financial solutions. Griffin's CEO and co-founder, David Jarvis, expressed admiration for Haboo's efforts to improve lending experiences for everyday people.
The wallet also offers personalized support throughout the debt repayment process, helping borrowers to stay on track and make progress towards their financial goals. Additionally, the partnership is expected to benefit lenders by improving loan performance, reducing missed payments, and providing valuable customer insights.
In addition to the "save-as-you-repay" wallet, the partnership between Haboo and Griffin offers Yonder's 'Top-ups' feature. This feature is expected to provide additional benefits to customers, although specific details have not been disclosed.
The partnership between Yonder and Griffin is another example of how the two companies are working together to improve financial services for consumers. By offering innovative solutions like the "save-as-you-repay" wallet, they aim to improve the overall user experience and provide smarter, more sustainable ways to support customers.
For precise and up-to-date details on Haboo Money’s "save-as-you-repay" wallet and the nature of its partnership with Griffin, including exact benefits and features, you would need to consult direct sources from Haboo Money or Griffin, such as their official websites or recent press releases.
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