In another move to adapt to the prospect of rising interest rates, Rocket Companies is acquiring personal finance app Truebill in a $1.275 billion deal that could give Rocket an edge in marketing real estate services, mortgages and other loans to Truebill’s 2.5 million members.

Truebill helps consumers manage subscriptions, budgeting and spending. The acquisition provides “a new organic growth opportunity and a significant channel to nurture clients,” Rocket company said.

The data that Truebill collects about clients who have linked their bank accounts to the app will help Rocket know when to market mortgages, auto loans and personal loans to them, said Rocket Cos. CEO Jay Farner.

Only about one in four Truebill clients are homeowners, Farner told Yahoo Finance Live, so there’s a big opportunity to market purchase mortgages to renters when they’re ready to buy a home.

Jay Farner

Rocket Cos. talks to “millions of people a year,” Farner said, but “the vast majority … aren’t ready to transact yet. So how do we assist them, how do we stay engaged with those clients? Well, Truebill answers that question, right?”

Rocket Cos. — the holding company for Rocket Mortgage, Rocket Homes, Amrock and Rocket Auto — saw third quarter net income fall 53 percent from a year ago, as rising mortgage rates cut into its highly profitable mortgage refinancing business.

In a bid to do more business with homebuyers taking out purchase mortgages, Rocket has been strengthening its ties to real estate agents and independent mortgage brokers who are well connected into local markets, and making its mortgage technology available to banks and credit unions. In August, Rocket Homes announced that it was hiring on-staff real estate agents and launching an iBuyer program.

The Truebill deal could not only help Rocket Mortgage boost its lending and real estate brokerage businesses, but is also expected to provide a steady source of revenue — about $100 million a year — that’s not tied to the cyclical ups and downs of real estate.

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