ST. PAUL, Minn.--(BUSINESS WIRE)--Securian Financial is expanding its commitment to the growing digital lending marketplace through a strategic partnership with Aven, a fintech company offering a consumer credit card backed by home equity—the Aven Home Card. Securian Financial’s debt protection product, which can cover enrolled cardholders’ monthly payments if they become involuntarily unemployed, is now offered to all Aven Home Card applicants at no profit to Aven.
“We are excited to partner with Aven, a leader in the digital lending space, to offer our debt protection solutions,” said Michael Dawson, a Securian Financial sales vice president for Affinity Solutions. “With our long history, high ratings1 and deep experience offering loan protection products through financial institutions, the digital lending space is natural for us. And we couldn’t have a more innovative and perfect partner to expand our presence in this market than Aven.”
Aven, founded by former executives from Facebook and Square in 2019, is on a mission to provide consumers with the lowest cost and most convenient access to capital. The Aven Home Card provides consumers with lower interest rates in minutes2, backed by home equity and starting at $0 to get, with all the benefits of a traditional credit card.
Since launching in 2021, more than $1.5 billion in Home Card credit lines have been issued, and cardholders have saved more than $100 million in interest payments.
“We’re excited to partner with Securian Financial to provide our cardholders with an optional debt protection plan, offered entirely at no profit to Aven,” said Sadi Kahn, CEO and founder of Aven. “At Aven, we prioritize safeguarding our customers from financial challenges, and Securian’s product offers valuable protection for those who may face involuntary unemployment.”
Thousands of loans throughout the United States are protected by Securian Financial debt protection. For borrowers, debt protection is a cost-effective way to reallocate funds in times of need, protect their credit, and reduce the risk of default and loss of collateral. For lenders, debt protection reduces loan defaults and delinquencies, can generate non-interest income and provides their customers with a product they need.
Digital lenders interested in learning more about debt protection solutions can contact Securian Financial’s sales team.
A go-to provider for financial institutions and associations
Securian Financial’s Affinity Solutions business is a go-to provider of insurance and other protection products to more than 6,000 financial institutions and associations in the United States and Canada. Securian Financial offers a diverse portfolio of debt protection, specialty property & casualty, life, accident and supplemental health product options—all backed by customized solutions and exceptional service.