Case Study: LendUp

Overview - DESCRIPTION OF COMPANY & problem

LendUp is a money lending fintech company based in Oakland, Calif. that serves the emerging middle class and underbanked populations. LendUp provides a pathway for its customers to achieve financial stability through a combination of small dollar loans and financial education courses.

The personal lending industry has been an ongoing target for regulators, and LendUp found itself juggling CFPB claims along with a CEO leadership change. The company chose Archie Group to implement key initiatives that would safeguard and enhance its reputation during this time.

APPROACH

Archie developed the strategy to position LendUp as a unique and much-needed offering for an underserved customer demographic. It began with a new communications plan to increase LendUp’s visibility and reputation as a responsible lender, specifically through the ‘LendUp Ladder’, a gamified approach to savings and credit-building.

 Archie helped LendUp roll out a new subsidiary, Ahead Financials, a digital banking  and financial health platform for the emerging middle class.  Ahead offers a checking account and Visa debit card with no monthly fees as well as financial literacy tools to educate consumers on their budgeting.

Meanwhile, Archie continued to manage the negative publicity of CFPB regulatory actions as LendUp worked towards its settlement resolution. Archie developed the crisis and issues response plan and mitigated the press uptake to educate reporters about the changing regulatory environment and reorient their attention to the new banking platform and CEO, Anu Schultes, who is one of the few female and woman-of-color CEOs in fintech.

RESULTS

Archie positioned Ahead as a challenger bank and solution for consumers to learn good financial habits and improve their most basic financial circumstances with coverage in American Banker, Tearsheet and more. 

We also introduced Schultes to the fintech community and built her reputation as a thought leader in Tier 1 publications such as Fortune, Bloomberg and Fast Company, and through speaking engagements with Wharton Fintech and LendIt Fintech.