Jun 23, 2015, 06:00 ET
MURRAY, Utah and RIVERWOODS, Ill., June 23, 2015 /PRNewswire/ -- Finicity Corp.™ (www.finicity.com), makers of the popular personal finance application Mvelopes (www.mvelopes.com) and Discover Personal Loans are working together to help consumers take control over their finances. Finicity's Financial Wellness programs, including Mvelopes, help keep people on track with their spending, budget, and planned loan repayment.
"We talk to so many people everyday through our Finicity Financial Wellness programs who are needlessly paying more interest than they have to and it is keeping them in debt for extended periods of time," said Steve Smith, CEO and Co-Founder at Finicity. "With personal loans, such as Discover Personal Loans that can have proceeds sent directly to creditors, we're able to take a very principled approach to enabling our customers to free up cash, reduce interest, and ultimately get rid of the debt that is crushing them."
This unique program brings together the power of Discover's Personal Loans, backed by Finicity's tools, education and accountability, to help consumers eliminate high interest debt. Once approved for a personal loan, Mvelopes users can sync their Discover Personal Loan with their web and mobile app to help them stay on top of payments and focus on paying their balances off as quickly as possible.
"Discover's mission has always been to help people spend smarter, manage debt better and save more so they achieve a brighter financial future," said Yan Chang, senior vice president, Discover Personal Loans. "Working with Finicity is a great fit because the added tools and resources provided will help give our customers more control over their finances and help them achieve their financial goals."
Discover Personal Loans provides a number of useful benefits that Finicity Financial Wellness members and Mvelopes users can leverage, including:
- No origination or closing fees. No prepayment penalties. This allows customers to remain focused on paying off the loan as quickly as possible, while not having to worry about extra fees up front in order to do so.
- Same-day decision in most instances. No more waiting for a long review process. Plus, funds are sent the next business day after acceptance of the loan.
- Flexible payment terms. Choose from 36 up to 84 months based on your budget and financial goals.
- Funds can be sent directly to you or your creditors. Choose the option that is best for you. Optimal choice and flexibility makes sure your funds work for you.
This program is currently available for Mvelopes and Money4Life Coaching customers who are seeking to save money by consolidating higher interest rate debt via a Discover Personal Loan.
Finicity is an award-winning Internet and mobile software services company specializing in personal financial productivity applications, financial wellness programs, and data services for the Fintech industry. For more than a decade, its flagship Mvelopes has helped hundreds of thousands of users regain control of their finances with its digital application of proven envelope budgeting principles. Now the leading personal envelope budgeting solution on the market, Mvelopes has been honored with a PC World 2006 World Class Award, was named one of "The 100 Best Products of Year" by PC World's editors, was recognized as one of "The 4 Best Money Managers" by Success Magazine, and was recently selected by Kiplinger as the 'Best Budgeting Site for Over-Spenders'. Finicity launched its Data Services division in September, 2014 and is now providing Data Services Solutions to hundreds of organizations serving the Fintech industry. Founded in 1999, Finicity is privately held, with headquarters in Murray, Utah. Find more information online at www.finicity.com.
Discover Financial Services (NYSE: DFS) is a direct banking and payment services company with one of the most recognized brands in U.S. financial services. Since its inception in 1986, the company has become one of the largest card issuers in the United States. The company issues the Discover card, America's cash rewards pioneer, and offers private student loans, personal loans, home equity loans, checking and savings accounts, certificates of deposit and money market accounts through its direct banking business. It operates the Discover Network, with millions of merchant and cash access locations; PULSE, one of the nation's leading ATM/debit networks; and Diners Club International, a global payments network with acceptance in more than 185 countries and territories. For more information, visit www.discover.com/company.
Finicity – Public Relations
Susan J. Diaz de Leon
Discover - Public Relations
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SOURCE Finicity Corp.
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