Securian Financial Expands Its Digital Lending Market Presence in Strategic Partnership With Fintech Aven
Securian Financial’s debt protection product now offered to Aven Home Card applicants
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.
ABOUT SECURIAN FINANCIAL
To be confident in your financial future, you need to trust the strength and commitment of the companies you choose to work with. For more than 140 years, the Securian Financial family of companies has been developing innovative insurance and retirement solutions to meet the evolving needs of individuals, families and businesses. Offered through partnerships with employers, financial professionals and affinity groups, our products help bring peace of mind to more than 23 million customers throughout the United States and Canada. We are trusted by our partners and customers to fulfill our purpose of helping to build secure tomorrows. For more information about Securian Financial, visit securian.com or follow us on Facebook, Instagram or LinkedIn.
ABOUT AVEN
Aven is the best credit card for savvy homeowners. The Aven Home Card provides consumers with lower interest rates in minutes2, backed by home equity, with all the benefits of a traditional credit card. The product starts at $0 to get, use and cancel. Aven has issued over $1.5 billion in credit lines and has saved its cardholders over $100 million in interest since inception. Aven is partnered with Coastal Community Bank, Member FDIC. Equal Housing Lender. NMLS #462289. Learn more at www.aven.com.
1. Ratings are assigned to the following Securian Financial Group member companies: Minnesota Life Insurance Company and Securian Life Insurance Company. To learn more about Securian Financial’s strength and ratings, visit securian.com/ratings.
2. Aven’s APR range is 7.99% to 15.49%. The average for other cards in the U.S. for people with good credit is 24.49%. Source: “Average Credit Card Rates,” WalletHub, August 19, 2024
Debt protection is a contractual liability policy issued to Aven by Securian Casualty Company, a New York authorized insurer. Minnesota Life Insurance Company acts as the administrator of Aven’s debt protection program. Aven is independently owned and is not affiliated with Securian Financial.
Securian Financial is the marketing name for Securian Financial Group, Inc., and its subsidiaries. Minnesota Life Insurance Company and Securian Casualty Company are subsidiaries of Securian Financial Group, Inc.
DOFU 8-2024
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Contacts
Securian Financial
Jeff Bakken, Media Relations
651-665-7558
[email protected]
For Aven
Whitney Topping
[email protected]
