GreenPath and eGain Partner on Virtual Financial Coach

GreenPath Financial Wellness, a national nonprofit that provides financial counseling and education, and eGain, a customer engagement platform provider, have launched the Virtual Financial Coach for financial counseling automation.

Deployable by banks and credit unions, Virtual Financial Coach offers personalized financial advice 24x7 to people on any smart phone or computer. It uses eGain’s digital engagement automation technology, powered by artificial intelligence, to deliver GreenPath’ financial guidance at scale.

"Now more than ever, people need tools that meet them where they are in their financial journeys," said Kristen Holt, GreenPath's president and CEO, in a statement. "The Virtual Financial Coach offers individuals flexibility to pursue discreet, judgment-free financial guidance at any time, in any place."

The Virtual Financial Coach mimics human financial counselors, providing personalized advice through virtual assistance and digital messaging. It delivers bite-sized action steps and motivational nudges, including recommendations on how to improve one's credit score, move forward after a credit decline, pay down debt, and build healthy financial habits.

"This partnership combines eGain's AI technology with GreenPath's proven advice to offer consumers a unique digital financial coaching experience," said Ashu Roy, eGain's CEO, in a statement. "Users receive empathetic coaching to help them establish financial goals and identify actions they can take to reach them."

Users can stop engaging with the coach at any time and pick up where they left off later and connect directly with a GreenPath expert for one-on-one personal assistance.

GreenPath and eGain are piloting the Coach with more than 40 of GreenPath’s credit union and bank partners. 

"This Virtual Financial Coach increases access to critical credit education, day or night," said Helen Gibson, vice president of strategic operations at Denver Community Credit Union, in a statement. "Plus, it allows members a safe and private approach to a conversation about credit."

"The Virtual Financial Coach offers transformational business value to financial institutions," added Evan Siegel, vice president of financial services AI at eGain, in a statement. "It can help them attract new customers, especially millennials, and wow them with a one-of-a-kind coaching experience while enhancing brand loyalty."