The automated savings offering launched today was developed to align with individuals' natural spending habits and behaviors. By linking their bank accounts, Americans can now automate an incremental but painless saving program with Change, that doesn't require budgeting or cause the headache of an accidentally overdrawn account.
As the founding team developed the company's platform, they saw the potential to let individuals know when they were likely to overdraft and extend a short-term loan to cover the overage between deposits - thus saving them part of the over $40 billion Americans spend on overdraft fees annually. So starting this week, the company will also start testing its Predictive Overdraft Protection™ offering with select users and expects to fully launch the solution in January.
About Change Labs
Change Labs is developing advanced algorithms specifically designed to improve individual financial behaviors. The financial services platform uses existing tracking methodologies and new deep machine learning to anticipate common financial pitfalls and support financial growth. To learn more, visit https://gochange.co.
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SOURCE Change Labs