Qapital is an award-winning app designed to let its customers save, invest, and spend with any goal in mind.
Products Used
Comprehensive Data + Insights
Debt Optimization
Precision Payments
Embedded Refi
Account Switching
The Problem
After surveying their customers, Qapital found that the top 2 concerns for their 2M+ customers were support with paying off their loans and improving their credit score. In order to address these concerns, Qapital was looking for a robust solution that would allow them to quickly get this started.
The Solution
Using Spinwheel’s APIs and UI drop-in modules, Qapital was able to quickly launch a two-pronged solution to address the top concerns of their users.
Paying Off Loans: Qapital launched their Debt Wrangler offering that allows their users to:
- Connect and see all of their loans
- Understand which loans they should pay off first
- Make optimized payments on a one-time or recurring basis
- Understand their refinance options including the impact from a proposed refinance relative to their existing loans
- Set up a new bank account for auto-debit to save .25% on interest rates
Improving Credit Score: With Spinwheel’s data, Qapital is able to offer their users personalized recommendations on how to improve their credit score. These include options such as:
- Scheduling payments on the most impactful debt
- Lowering their revolving balance by refinancing debt on high interest credit cards
- Credit score monitoring
- Increasing credit limits by opening new credit cards
- Tracking and optimizing credit card utilization
