Banking Digital News

Laurel Road Advances Digital Banking with New Checking and Mobile Application

Laurel Road Advances Digital Banking with New Checking and Mobile Application

New offerings add to Laurel Road’s array of unique financial solutions for healthcare and business professionals

Laurel Road, a digital banking platform of KeyBank with specialized offerings for healthcare and business professionals, unveiled the Laurel Road Checking account and mobile application, allowing existing and new members the ability to more easily manage their finances, save money while paying down student debt, and bank from anywhere, anytime.

Just six months after launching Laurel Road for Doctors, a new suite of financial and banking products tailored to physicians and dentists, the company is advancing even further as a digital banking platform with the launch of Laurel Road Checking.


This new offering adds to Laurel Road’s existing line-up of digital banking products, which includes a Student Loan Refi & Linked Savings℠ account and Student Loan Cashback℠ Credit Card, along with student loan refinancing, personal lending, and mortgage options, making it a comprehensive platform for all the financial solutions that healthcare and business professionals need.

As part of this launch, and to also understand how young Americans are banking, Laurel Road recently conducted a survey of 2,000 Gen-Z and millennials. The findings show that many are looking for a change, as 45% of respondents said they are interested in switching to a new bank but are not sure where to start and 38% noted they would be encouraged to make the switch to a new bank because they’re looking for better savings options.

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“We know that the majority of Americans, both healthcare professionals and young Americans navigating high student debt and in demanding careers, are looking for banking and financial solutions that fit into their busy lifestyles and help them meet their goals. That’s why our new checking account and mobile app are designed to provide ease to our members as they manage their money, while also helping to develop best practices around saving and growing their finances,” said Alyssa Schaefer, Chief Experience Officer at Laurel Road. “As we strive to continue our efforts of providing exceptional digital experiences with high-touch human support, it’s important to keep in mind that no one’s financial journey is stagnant, which is why we have created products that will continue to grow with each of our members.”

To support this desire for new banking experiences that also provide savings opportunities, Laurel Road Checking offers discounts of up to 0.55% on refinancing your student loan with Laurel Road when you open up a Laurel Road checking account and make recurring monthly direct deposits – that means reaching variable APRs as low as 1.37%. Those approved for a student loan are eligible to secure a student loan rate reduction by contributing to the checking account with monthly direct deposits, securing significant savings – and this is achieved all online in one cohesive experience. Additional benefits that come with opening a Laurel Road Checking account include:

  • A limited time offer of $500 cash bonus when making direct deposits totaling $2,500 or more within 60 days of opening the account.
  • Overdraft protection, no minimum opening deposit, and no account maintenance fee
  • World Debit Mastercard benefits, including chip capabilities and no monthly or annual fee
  • 40,000+ ATMs nationwide

Members can also easily access the new Laurel Road mobile application as it is both iOS and Android accessible. It features exciting capabilities, including an ATM finder, mobile check deposit, P2P/Zelle contact list integration and transfers, bill payment management, and check ordering options.

Additionally, those who choose Laurel Road as their digital banking platform of choice have access to Laurel Road Perks!, a growing partner network of exclusive offers, discounts and benefits for all Laurel Road members, which includes partners such as P.volve, Sakara,  Brooklinen, KidPass, and Talkspace.

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