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CommonBond Announces SmartCash – Connecting Student Loan Refinance to a More Seamless Cash Experience

CommonBond Announces SmartCash - Connecting Student Loan Refinance to a More Seamless Cash Experience

New product enables customers to integrate their student loan with a core bank account opening experience

CommonBond, a leading financial technology company, announces CommonBond SmartCash –  a program that allows its customers to seamlessly open a core checking account while refinancing their student debt, enabling a more efficient and seamless use of cash for their student loan payments and everyday purchases.

In a survey of its customers, CommonBond found that 65% of its customers trust CommonBond for holistic financial guidance – a statistical tie for first place with “family and friends.” 36% of people in the survey said they trust “financials advisors” for financial guidance.

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Equipped with this data, and in an effort to provide customers with the ability to achieve their financial goals while paying down their student loans, CommonBond has built technology that enables customers to seamlessly refinance their student loan and unlock savings and other benefits through a unique core checking product (SmartCashTM).

“We help people use their student loan to unlock value in their financial lives – SmartCashTM is yet another way to do that – and in these times, enabling people to unlock more value in their lives feels more prescient than ever,” said CommonBond CEO and co-founder David Klein. “Our burgeoning suite of products are meant to serve our customers with the right product at the right time, in a highly contextualized and seamless way.”

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This announcement follows other recent announcements from CommonBond – such as asset builder (SmartSaveTM) and tax-advantaged employer-paid retirement funds (Retirement Contribution™) – all of which are ways for consumers with student loans to unlock more financial value in their lives.  The core technology behind SmartCash includes seamless and integrated account opening, as well as customizable incentives technology that can be adapted to and by any partner institution, including via API integration with CommonBond.

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