Fynanz Introduces New Consolidation Program for Private Student Loans

Turnkey Student Lending Solution Adds Consolidation Loan to Program Offering

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Feb 01, 2011, 03:10 ET

NEW YORK, Feb. 1, 2011 /PRNewswire/ -- Fynanz, Inc., the financial technology company that develops customized private student lending solutions and powers the cuStudentLoans.org private student loan marketplace, today announced the introduction of their new consolidation program for private student loans.

The new offering, known as the EdSucceed Private Student Loan Consolidation, will accompany the existing EdAccess Private Student Loan in Fynanz's suite of loan products. EdSucceed, like EdAccess, will be issued by credit union lending partners within Fynanz's program and offer variable rate pricing to qualified borrowers. The loan will also afford borrowers the ability to manage their expenses by selecting either a graduated or level repayment option.

"We're pleased to announce the addition of a program with the current market demand of a private student loan consolidation," said Vince Passione, CEO of Fynanz. "Private student loan consolidation provides the opportunity to simplify finances and lower monthly payments and interest expenses. It also provides another powerful loan vehicle for our credit union lending partners to attract the GenY demographic following graduation," continued Passione.

The EdSucceed Private Student Loan Consolidation, which has been in closed beta testing since November, will be made available to lending partners using the Fynanz platform on February 1st.

About Fynanz

Fynanz, Inc. is a leading technology provider of custom private student lending programs and turn-key solutions. Fynanz pioneered innovative technology that easily puts lenders into the private student lending business without the need to purchase or install any software. This end-to-end integrated solution includes complete origination, underwriting, servicing and marketing. Fynanz also powers cuStudentLoans.org, the leading private student lending marketplace, and currently serves more than 100 credit unions across the country. For more information, call (800) 881-8985, or visit www.fynanz.com.