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Reaches New Student Debt Borrowers with Fiserv Partnership

Fiserv monetary establishment shoppers can present their prospects seamless entry to FutureFuel.io’s student debt reduction platform

NEW YORK, October 12, 2021–(BUSINESS WIRE)–FutureFuel.io, a expertise agency that helps America’s 47.9 million debtors crush their student loan debt, introduced right now a brand new partnership with Fiserv. This partnership will allow banks and credit unions to convey the FutureFuel.io student loan compensation platform to customers, offering personalised, dynamic student debt administration to thousands and thousands of debtors nationwide.

Seventy p.c of school graduates depart faculty with student loan debt. As a consequence, serving to customers handle that debt—and construct monetary resilience—has turn into an pressing alternative for monetary establishments who search to ship worth and construct relationships with a youthful demographic of banking prospects.

Adding to this urgency is the upcoming expiration of emergency federal student loan fee suspension, which is scheduled to finish on January 31, 2022. FutureFuel.io is the one expertise platform that responds to this want with student debt options that serve all student loan holders, from these hoping to decrease their month-to-month funds through federal earnings pushed compensation plans to debtors aiming to pay their debt down quicker—and keep away from pointless curiosity—with instruments that gamify additional contributions.

“Our team is focused on creating connections to fintechs as a part of our overall commitment to open banking,” mentioned Todd Horvath, head of Account Processing at Fiserv. “Debt is never an easy topic, but we are confident that our clients and their customers can benefit substantially by making debt management elimination a seamless part of the experience with their financial institution.”

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FutureFuel.io makes use of machine studying expertise rooted in behavioral economics to assist customers determine tips on how to repay their student debt whereas additionally saving for the long run. On common, debtors who use FutureFuel.io to enroll in federal compensation plans scale back their month-to-month funds by $326, which in flip can redirect money move to assist debtors construct financial savings accounts and work towards different monetary objectives.

“Fiserv is a global leader within the financial services and payments space, supporting thousands of financial institutions,” Laurel Taylor, CEO and founding father of FutureFuel.io. “We are thrilled to work alongside their team to bring our platform to millions of Americans who are eager to build stronger, brighter, and more resilient financial futures. Fiserv is aggressively advancing its open banking strategies and it is a privilege to support this transformation.”

FutureFuel.io not too long ago accomplished a Series A1 spherical of fairness funding backed by world leaders throughout the monetary companies and expertise panorama together with UBS, Aflac, Fiserv, and Salesforce, alongside iconic institutional traders who sit on the intersection of fintech, social affect, and the way forward for work, together with Vulcan Capital, Rethink Impact, Breton, Impact Engine, and Sixthirty amongst others.

“Paying down student debt is one of the number-one priorities of young customers, and their parents, in our market,” mentioned Susan L. Shields, President and CEO at The Milford Bank. “FutureFuel.io and Fiserv are providing our customers with an intuitive and effective way to focus on financial wellness and reduce debt, and we’re proud to enable those goals with a digital-first experience in collaboration with Fiserv.”

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FutureFuel.io has generated an estimated $38 million in financial savings for its customers up to now. FutureFuel.io presents 4 classes of debt-repayment options, throughout a spread of non-integrated to built-in choices, together with API- and widget-powered experiences, SSO, and configured co-branded options: Benefit, Change, Crush, and Learn.

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About FutureFuel.io

FutureFuel.io is a platform that helps America’s 46 million debtors in paying off their student debt as shortly and effectively as potential. On common, FutureFuel.io saves customers between $15,000 to $40,000 and half a decade off of their student loan funds by means of a personalised Student Debt FinHealth platform that optimizes federal compensation plan enrollment, automates the administration of unruly student loans, gamifies spare change, and allows customers to find free cash from retailers whereas procuring on-line. FutureFuel.io’s complete platform crushes student debt by empowering customers to take small actions that make a huge impact.

About Fiserv

Fiserv, Inc. (NASDAQ: FISV) aspires to maneuver cash and data in a approach that strikes the world. As a worldwide chief in funds and monetary expertise, the corporate helps shoppers obtain best-in-class outcomes by means of a dedication to innovation and excellence in areas together with account processing and digital banking options; card issuer processing and community companies; funds; e-commerce; service provider buying and processing; and the Clover® cloud-based point-of-sale resolution. Fiserv is a member of the S&P 500® Index and the FORTUNE® 500, and is among the many FORTUNE World’s Most Admired Companies®. Visit fiserv.com and comply with on social media for extra info and the newest firm information.

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