SavvyMoney, a leading provider of financial wellness tools and personalized loan offerings, announced the acquisition of CreditSnap. This fintech solution provider powers intelligent integrations to digital loan, deposit, and account onboarding solutions for banks and credit unions.
This deal marks a significant milestone for SavvyMoney, as the company continues building a unified, flexible, and digital-first platform designed to complement and enhance every stage of the consumer financial journey.
Deal benefits: With CreditSnap’s technology, SavvyMoney aims to strengthen our ability to work alongside existing LOS and account opening systems, delivering even greater value to partners and their consumers.
Financial institutions can now offer an end-to-end experience by utilizing SavvyMoney’s demand-generation capabilities in conjunction with CreditSnap’s flexible integration process. Every integration can work with one unified platform, ranging from personalized credit insights to frictionless application and booking.
These are some additional benefits:
1.) The platform integrates with more than 73 loan origination, core and digital banking systems
2.) Loan application time can be reduced from 12 minutes to as little as 2 minutes
3.) Financial institutions have reported a 20–40% increase in loan volume and deposit funding rates as high as 78%
CreditSnap’s flexible and modular technology has enabled dozens of forward-thinking credit unions and banks to modernize their digital origination flows while improving operational efficiency and consumer satisfaction. And the combined platform seamlessly fits into existing lending and deposit infrastructures, making it easy for financial institutions to elevate their consumer experience without overhauling current systems.
KEY QUOTES:
“This is a pivotal moment in SavvyMoney’s journey. Our financial institution partners are looking for ways to grow without adding operational burden. By combining SavvyMoney’s ability to drive high-intent demand with CreditSnap’s flexible integration solution, we’re delivering a comprehensive digital experience for both lending and deposit growth—one that works with, not against, their existing systems.”
JB Orecchia, president and CEO of SavvyMoney
“We built CreditSnap to help financial institutions deliver the digital experiences today’s customers expect by leveraging current integrations along with proprietary technology. Joining SavvyMoney allows us to offer a true end-to-end integrated solution that meets the needs of our partners and their solution providers at scale.”
Deepak Polamarasetty, CEO of CreditSnap
“CreditSnap uniquely combines all necessary tools, including a ready-made front-end experience, a customizable lending engine, instant offers, and integration into our existing LOS system. Unlike other vendors, CreditSnap delivers on its promise of seamless integration, saving us valuable resources and enabling us to stay competitive in the market.”
Thomas Allman, Chief Strategy Officer at NASA Federal Credit Union
