GreenPath and eGain Expand Capabilities Offered by Anytime-Anywhere Virtual Financial Coach

The 24/7 Online Virtual Financial Coach provides personalized guidance to help address record levels of debt and low savings

Farmington Hills, Michigan and Sunnyvale, California (March 8, 2024) – GreenPath Financial Wellness, a national nonprofit that provides financial counseling and education, and eGain (NASDAQ: EGAN), a leading platform provider for knowledge-powered customer engagement, released new capabilities offered by the Virtual Financial Coach™ Lea—a unique, turnkey solution for financial counseling at scale. Through text-based conversation, the enhancements provide anytime, anywhere access to empathetic, personalized, coaching to understand credit history, manage debt, boost savings, and bolster long-term financial health, while identifying actions to reach financial goals.

The new features include:

  • Referral back to the financial institution for appropriate products that support Coach Lea’s personalized guidance
  • Helpful “manage spending and saving” advice
  • TransUnion Vantage™ credit score and an analysis of credit attributes
  • Guidance on how to select and optimize CDs to increase savings

Nearly half of U.S. adults have less savings or no savings compared to a year ago, according to recent research. In addition, the research shows that more than one-third now have more credit card debt than cash reserves, which is the highest on record. Deployable by banks and credit unions in minutes, the Virtual Financial Coach offers personalized financial advice 24×7 on any smartphone or computer, and is a great resource for people working to reduce debt, improve credit and increase savings.

“Many of GreenPath’s clients report reduced stress after paying down debt and increasing savings. These expanded features offered by the Virtual Financial Coach guide people where they are in their financial journeys – whether related to managing debt, rebounding from a credit decline, building healthier financial habits, or establishing long-term savings,” said Kristen Holt, GreenPath’s President and CEO.

“Lea is the first-of-its-kind virtual coach to offer assured, empathetic financial guidance to Americans,” said Ashu Roy, eGain CEO. “It combines the best of eGain’s AI knowledge technology with best-practice know-how from GreenPath – a novel, turnkey solution for credit unions and banks!”

The solution reduces the stigma associated with seeking financial advice with discreet and secure digital communication. Users can stop engaging with Coach Lea at any time and pick up where they left off later. At the right time, Lea offers opportunities for users to connect directly with a GreenPath expert for one-on-one personal assistance with credit, housing, savings or debt management issues.

“The Virtual Financial Coach leverages GreenPath’s more than 60 years of experience delivering caring, clear and concise financial guidance to millions of Americans,” Holt said. “While this tailored approach ensures that the guidance directly aligns with people’s aspirations, increasing the likelihood of achieving financial success, we’re still here to provide the live one-on-one counseling GreenPath is known for. We’re excited to offer this additional service to individuals looking for an anytime digital financial coaching tool.”

The Virtual Financial Coach can be accessed through the websites of participating banks and credit unions or on the GreenPath website. More information about the technology that powers the Coach is available from eGain.

Media contacts

GreenPath Financial Wellness
Kathryn Ellywicz
[email protected]

eGain Corporation
Michael Messner
[email protected]

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