Featured Startup: Digs
What Is Digs?
Digs is a financial platform that empowers consumers to build wealth through homeownership while helping lenders keep clients for life.
Mortgage Lenders have historically only focused on the transaction, and lose out on repeat clients. Acquiring new mortgage customers is expensive ($1,500+) while keeping a customer is 7-10x less expensive. Yet, there is no good engagement platform for lenders.
Digs allows mortgage lenders to offer branded versions of the Digs product as a way to engage with their customers before and after a loan takes place. By giving their customers a platform to save for a home or understand their home’s equity, a lender is able to build loyalty while collecting data that helps predict when their customers will be ready to buy or refinance.
Competition & Competitive Advantage
Currently, most lenders are using email drips and mailer campaigns to stay top-of-mind. Digs’ competitive advantage is that they have a solution that consumers enjoy and Digs collects engagement and verified financial data. This allows a Credit Union to predict buying and refinance timelines and better service their customers.