Creditspring Partnership Case Study
Creditpspring company information
Industry: Loans
Company size: 80-100 employees
Location: West London
Use case: Embedding income protection insurance
Growth metrics
- £250 million in loans since launch
- 10-fold customer growth in 2 years
- 430,000 current customers
- Multiple award-winner
Creditspring is a responsible lender whose aim is to improve personal financial stability throughout the UK by simplifying borrowing with a unique subscription model. Instead of paying interest on their loans, Creditspring’s members pay a fixed subscription fee which allows them to borrow small amounts, twice a year, building their credit score and financial resilience.
Creditspring and Eleos income protection
Creditspring saw that Eleos’s income protection insurance would help their members safeguard their ability to keep up their subscription payments and maintain their credit score.
Additionally, offering income protection to their customers can help mitigate the risk of unpaid loans.
How we’re scaling revenue through Creditspring
Messaging: We have aligned their on-platform and marketing messaging to their customers' pain-points and JTBD. A more contextual message of income protection has been able to resonate with their customers, helping them understand what it is and how it can help support their goals.
Visibility: We have worked with Creditspring to create enhanced visibility on their platforms so that any member logging into their dashboard can easily and seamlessly access the Eleos platform.
Consistency: We are consistently working with them to ensure cohesion in our messaging and visibility, continually learning and refining our shared strategy.
Timing: we typically send our email around payday as this is a key moment when customers are thinking about their money and working on developing better financial habits. This strategy has proved to be extremely successful.
Here are some other reasons why CreditSpring love Eleos:
- Eleos consistently achieves one of the highest numbers of click-outs each month
- 40% of Creditspring members who click through to Eleos go on to get a quote
- We have enabled Creditspring to fulfil their customers’ demands for greater financial resources
- Easy set up - Creditspring were live in under 1 week and were able to start earning immediately
