GreenPath and eGain partner to provide virtual financial tool

GreenPath Financial Wellness, a national nonprofit that provides financial counseling and education, and eGain, a customer engagement platform provider, are collaborating to launch the Virtual Financial Coach. The platform is a unique, turnkey solution for financial counseling automation.

Deployable by banks and credit unions in minutes, the secure digital tool offers personalized financial advice 24×7 to people on any smart phone or computer.

It uses eGain’s digital engagement automation technology, powered by Artificial Intelligence (AI) and Machine Learning (ML), to deliver GreenPath’s trusted and empathetic financial guidance at scale.

“Now more than ever, people need tools that meet them where they are in their financial journeys,” said Kristen Holt, GreenPath’s president and CEO. “The Virtual Financial Coach offers individuals flexibility to pursue discreet, judgment-free financial guidance at any time, in any place.”

Recognized as a finalist in CreditUnions.com’s 2021 Innovation Series, the Virtual Financial Coach mimics human financial counselors, providing personalized advice through virtual assistance and digital messaging, based on the individual’s specific situation and goals.

It delivers bite-sized action steps and motivational nudges to encourage progress and celebrate success. Leveraging AI and ML, the tool provides advice on a variety of user goals, including recommendations on how to improve one’s credit score, move forward after a credit decline, pay down debt, and build healthy financial habits.

“This partnership combines eGain’s AI technology with GreenPath’s proven advice to offer consumers a unique digital financial coaching experience,” said Ashu Roy, eGain’s CEO. “Users receive empathetic coaching to help them establish financial goals and identify actions they can take to reach them.”

The solution reduces the stigma associated with seeking financial advice with discreet and secure digital communication.

Users can stop engaging with the Coach at any time and pick up where they left off later. At the right time, the Coach offers opportunities for users to connect directly with a GreenPath expert for one-on-one personal assistance with credit, housing, or debt management issues.

GreenPath and eGain are piloting the Coach with more than 40 of GreenPath’s credit union and bank partners. The tool is already receiving rave reviews. Focus group participants shared positive feedback describing the Coach as “fast, helpful and practical” and of particular benefit to individuals hesitant to speak with someone live.

For more information about this news, visit www.greenpath.com or www.egain.com.