Objective

TrustPlus Auto (a product of Neighborhood Trust, a nonprofit company) combats predatory lending by empowering individuals and families to achieve financial stability through fair and affordable auto loans. HappyFunCorp designed the app with a dual focus:

• Provide users access to better loan options: Connect qualified users with credit unions offering competitive refinancing rates.
• Ensure success for all clients: Neighborhood Trust offers continued support and financial coaching to its users, enabling users to improve their financial standing and use Trust Plus Auto to apply for auto refinancing loans. 

The app also served a secondary goal: validating Neighborhood Trust’s financial coaching programs by demonstrating that users who had undergone coaching achieved better financial outcomes. Those who didn’t qualify for refinancing would be funneled into coaching services, creating value for all participants. This multi-facet approach ensures that all users benefit from the program, either through immediate access to better loans or through personalized guidance that sets them up for future success.

By integrating these pathways, we aimed to:

• Reduce interest rates for NT clients: Help users refinance existing high-interest loans through simple UI and application experience, putting money back in their pockets.
• Expand access to financial services: Connect users with reputable lenders and resources, fostering long-term financial well-being.
• Validate the impact of financial coaching: Demonstrate the effectiveness of Neighborhood Trust's coaching by tracking the correlation between coaching and positive loan outcomes.

This comprehensive approach solidifies TrustPlus Auto as a tool for both immediate financial relief and sustainable financial growth within traditionally underserved communities.

Strategy

To bring this project to life, HappyFunCorp adopted a user-centric approach, prioritizing simplicity, accessibility, and security. Key strategies included:

• Leveraging existing brand: We built upon Neighborhood Trust's established brand and relationships within the community to deliver a new MVP product.  
• Streamlining the user experience: We designed a clear and intuitive interface, minimizing complexity and ensuring a seamless application process.
• Integrating with key partners: We partnered with Conductiv and Gravity Lending to facilitate income verification, and loan application processing in real-time for users and admins alike. 
• Prioritizing data security: We implemented measures to protect sensitive information, avoiding storage of personal data on our servers and utilizing secure API connections.
• Building a scalable platform: We employed a robust tech stack (Next.js, PostgreSQL, Prisma, AWS) to ensure scalability and future expansion as well as a marketing page build with Contentful for any updates or scaling of the current content. 

Challenges included balancing budget constraints with the need for a secure and user-friendly application. We overcame this by strategically utilizing API integrations and focusing on essential features to deliver a strong MVP. Our unique approach combined financial technology with a deep understanding of community needs, resulting in a powerful tool for financial empowerment.

Results

We delivered a user-centric auto refinance application, TrustPlus Auto, simplifying the refinancing process and prioritizing client experience. 

Currently, Neighborhood Trust is piloting TrustPlus Auto with a select group of users who have completed their financial training program. This strategic approach ensures a smooth rollout and allows for valuable feedback before a wider launch. With TrustPlus Auto's innovative approach and focus on user experience, Neighborhood Trust is poised to assist countless individuals and families as they navigate the path to financial stability and achieve their financial goals.

Early results indicate positive user engagement and satisfaction with the app's ease of use and security features. As Neighborhood Trust expands access to a broader audience, the app will drive meaningful change by:

• Increasing access to equitable loans: Connecting qualified users with credit unions and banks offering competitive rates.
• Strengthening financial partner access: Expanding Neighborhood Trust's network of financial partners, leading to greater impact and resource availability.
• Promoting financial well-being for NT clients: Empowering individuals and families to achieve financial stability through financial literacy and access to better loan options.

Our delivery of an MVP-first application positions the app for continued success and scalability.

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