haboo money, a FinTech company reinventing the loan repayment experience, has partnered with Griffin to the launch of a new save-as-you-repay wallet aimed at helping borrowers repay debt in a more flexible and sustainable manner.
By integrating Griffin’s banking infrastructure, haboo is able to deliver a seamless and compliant repayment tool that encourages healthier financial behaviours among borrowers while enhancing performance and efficiency for lenders, according to FF News.
haboo’s solution replaces inflexible direct debits with variable recurring payments, allowing borrowers to manage repayments with greater ease.
The digital wallet also promotes responsible overpayment, helping users either reduce their debts faster or build a financial cushion. Throughout the repayment process, haboo provides behavioural nudges that incentivise positive financial decisions and deepen user engagement.
On the lender side, the platform reduces missed payments and the operational burdens typically borne by collections and arrears teams.
It also provides valuable customer insights and supports compliance with consumer duty regulations by prioritising outcomes that are in borrowers’ best interests.
Griffin, known for delivering modern banking infrastructure for FinTechs and digital platforms, plays a critical role in enabling haboo’s offering. As an API-first banking-as-a-service (BaaS) provider, Griffin empowers innovators to embed regulated financial services into their products efficiently and at scale.
The partnership comes at a time when consumer reliance on unsecured credit is rising. As financial pressures grow, haboo and Griffin aim to empower borrowers to take back control of their financial futures, while equipping lenders with tools to offer more supportive, compliant and effective lending solutions.
haboo co-founder Hannah Baynham said, “The consumer debt crisis is an escalating challenge for both borrowers and lenders, as growing numbers of people rely on unsecured credit to make ends meet. For the first time, new financial technologies make it possible to address this issue in a way that works for everyone involved. By partnering with a bank like Griffin, we’re able to empower borrowers to take control of their repayments and build healthier financial habits – while giving lenders smarter, more sustainable ways to support their customers.”
Griffin CEO and co-founder David Jarvis added, “What haboo is doing to improve lending experiences for everyday people is truly inspiring. They are putting flexibility and control back into borrowers’ hands while helping lenders build healthier loan books. We’re excited to provide the banking infrastructure that enables this innovative repayment solution and look forward to supporting their growth.”
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