MPOWER Extends Borrower Services to Students Through WiseBanyan Partnership
February 16, 2016 ― Washington, DC ― MPOWER Financing today announced a strategic partnership with online financial advisor WiseBanyan, offering WiseBanyan accounts to all of its qualified student borrowers.
WiseBanyan is recognized as the world’s first free financial advisor. Through its app, clients can start saving and investing toward their financial goals with as little as $1. After clients specify what they want to achieve, WiseBanyan automates everything, from financial recommendations to recurring deposits to rebalancing the investment portfolios.
“Just as MPOWER redefines international student lending with its future-focused credit model, WiseBanyan challenges the traditional fee-based investment approach,” said Mike Davis, MPOWER CTO and co-founder. “Both organizations aim to create greater opportunities for all. We’re proud to offer WiseBanyan accounts to help our student borrowers achieve their financial goals, whether this involves a school-related trip or an unexpected expense. This partnership builds on our commitment to provide ongoing financial services to our clients.”
WiseBanyan standardizes investment strategies through a streamlined and automated program complemented by personalized goal-setting and ongoing monitoring. The new partnership will allow qualified MPOWER borrowers to gain access to WiseBanyan accounts with a special promotional code upon the approval of their loans. Using the WiseBanyan interface, students will then set financial goals around key milestones, including options like saving for a car, travel, a rainy day, or simply planning ahead for life’s possibilities.
“Future potential is key for effective investment strategy,” said Herbert Moore, co-founder and co-CEO, WiseBanyan. “Just as MPOWER’s algorithm homes in on that, so too does WiseBanyan’s revenue model. By looking forward versus focusing exclusively on the present, we are able to tailor programs to the individual investor, maximizing wealth opportunities in the process.”
About MPOWER Financing
As a Public Benefit Corporation, MPOWER removes financial barriers to higher education in the U.S. by working with investors and universities to lend to high-potential students who are left out by traditional banks. In addition to providing students with access to the financial resources necessary to attend and complete college, MPOWER builds students’ credit histories, provides them with personal finance education, and offers gateway financial products to prepare them for life after college. For more information, visit mpowerfinancing.com, or follow MPOWER on Twitter, Facebook, and LinkedIn.
About WiseBanyan
WiseBanyan, the world’s first free financial advisor, began with the belief that investing is a right – not a privilege. Its mission is to ensure everyone can achieve their financial goals, which starts by providing access to professional financial services the minute they earn their first dollar. For more information, visit wisebanyan.com.
