Collaboration between Haboo and Griffin on the release of a 'pay-as-you-go' digital wallet for savings.
In a groundbreaking move, fintech company Haboo and Griffin Bank have joined forces to revolutionise loan repayments and empower borrowers to take control of their finances.
According to Hannah Baynham, co-founder of Haboo, many people are relying on unsecured credit to make ends meet. Baynham views the consumer debt crisis as an escalating challenge for both borrowers and lenders. However, she believes that new financial technologies can address this issue in a way that benefits everyone involved.
The partnership between Haboo and Griffin aims to provide borrowers with smarter, more sustainable ways to manage their loan repayments, build healthier financial habits, and ultimately, tackle the consumer debt crisis.
Haboo customers will receive personalised support throughout the debt repayment process, including behavioural nudges to reward positive actions. This innovative approach is designed to encourage responsible overpayments, helping individuals pay down debt faster.
The partnership also benefits lenders, offering stronger loan performance, fewer missed payments, reduced cost of payment collection, and valuable customer insights.
Griffin Bank, known for its focus on building advanced, AI-driven banking infrastructure, will provide the banking infrastructure that enables Haboo's innovative repayment solution. The bank's strategic collaborations and initiatives, such as building an "agentic-first" banking core, leveraging AI and Buy-Now-Pay-Later (BNPL) methods, and raising capital to expand capabilities, underscore its role in collaborating with fintechs to redefine lending and repayment through automation, AI-driven insights, and embedded banking technology.
In a separate offering, UK-based rewards credit card Yonder joined forces with Griffin in February to offer a new feature called 'Top-ups' and simplify payments reconciliation. However, this partnership is not related to the "save-as-you-repay" wallet for loan repayments offered by Haboo.
With this partnership, Haboo and Griffin are poised to empower borrowers to take control of their loan repayments and build healthier financial habits, offering a beacon of hope in the face of the consumer debt crisis.
Read also:
- Ford Discontinues Popular Top-Seller in Staggering Shift, Labeled as a "Model T Event"
- Dubai-bound: Omega Seiki Mobility, an electric vehicle company from India, prepares for assembly establishment
- Best Strategies for Software Updates in SCCM and WSUS
- UNEX EV, U Power's collaborator, inks LOI with Didi Mobility for the implementation of UOTTA battery-swapping vehicles in Mexico.
