SaverLife launches customised financial wellness app

This news highlights a growing trend in financial tools specifically designed for the skilled trades workforce. SaverLife has launched a customized financial wellness app aimed at helping contractors, technicians, and manual laborers manage their money better. While this is a consumer-facing tool, it matters to home improvement retailers and service providers because a financially stable workforce and customer base lead to more consistent project funding. For business owners in the trades, this represents an opportunity to support your technicians' financial health. When employees have better control over their savings and credit, they are more productive and less stressed. From a consumer financing perspective, as these workers use tools to build emergency savings and improve their credit profiles, they become better candidates for prime financing when they eventually shop for their own home upgrades. The app uses gamification and rewards to encourage saving habits, which is a shift away from traditional banking models. Keeping an eye on these tools helps you understand the financial mindset of both your employees and the blue-collar customers you serve every day.

Source: Finextra — Lending

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