In March 2020, as the U.S. realized the severity of the coronavirus pandemic and prepared for an economic shut down, Neighborhood Trust Financial Partners and SaverLife—two nonprofit FinTechs dedicated to financial security and inclusion for working families typically left out of the financial system—anticipated the devastating impact the financing crisis would have on low-to-moderate income families.
Given our existing partnership and a shared belief in combining mission with technology, Neighborhood Trust and SaverLife brought together our complementary strengths. Neighborhood Trust utilized its TrustPlus financial coaching to help workers navigate financial shocks and link them to smart financial tools and products. SaverLife leveraged its tech infrastructure to turn a savings platform into a cash distribution platform, deploying this same technology to send money straight to those who need it. Together, we launched an emergency cash relief + coaching effort to disburse money quickly and to help recipients build and pursue a financial plan.
The resulting collaboration on program and user experience design, recruitment of vulnerable families, onboarding support, cash disbursement, and financial coaching to help cash recipients make a financial plan was an extensive effort that came together in just a few weeks.