Monetary mentorship platform for ladies, Penny Finance, has launched a brand new automated account integration.
The brand new providing comes courtesy of a partnership with monetary knowledge connectivity innovator Plaid.
Wall Avenue veteran Crissi Cole based Penny Finance in 2020.
Penny Finance has added a brand new function courtesy of the corporate’s partnership with Plaid. The monetary mentorship platform for ladies introduced the launch of a brand new automated account integration that can energy enhanced cash insights for its members. After linking their financial institution accounts to the Penny Finance platform, members will obtain customized, monetary wellness reminders by way of e mail. Members can even get a personalized model of Penny Finance’s training and mentorship steering. This consists of all the pieces from serving to members perceive the variations between their varied accounts, to methods to maximise their monetary alternatives. An instance of the latter might be a suggestion to transition from a normal financial savings account to a excessive yield financial savings account.
“Managing your funds needs to be simple. You shouldn’t need to dig by means of statements, learn a finance e-book, or ask your dad the way to handle your cash,” Penny Finance CEO and founder Crissi Cole stated. “We’re so excited to take the guesswork out of managing your cash for probably the most high-potential group of traders on the market: ladies.”
Cole based Penny Finance in 2020. The corporate is the primary customized, tech-powered monetary mentorship platform to supply real-world recommendation to ladies who lack entry to a monetary advisor. Earlier this 12 months, the corporate earned a spot within the 2023 Techstars Way forward for Longevity startup accelerator in partnership with Pivotal Ventures. Penny Finance is amongst ten startups collaborating in this system.
Penny Finance started the 12 months with the launch of an all-in-one group function. The providing supplies a welcoming house for ladies to come back collectively and share recommendation on quite a lot of monetary wellness matters. The Penny Finance staff moderates the brand new function, which hosts questions on all the pieces from debt administration to investing.
“Ladies are whip-smart,” Cole stated when the group function was launched in January. “We’re extra educated, reside longer, and but, we usually retire with one-third of the wealth of a person. Why? The system wasn’t constructed for us. The world of finance is a ‘boys membership’ with its personal guidelines. However, the excellent news is, it’s not as sophisticated as they made it out to be.”
Plaid has been a Finovate alum for practically a decade. The corporate launched itself to Finovate audiences as a part of our builders convention, FinDEVr SiliconValley, in 2014. Within the years since, the monetary knowledge connectivity innovator has grown into a number one fintech that powers greater than 7,000 apps and companies with its API-first community. The corporate additionally facilitates connections to greater than 12,000 monetary establishments. Headquartered in San Francisco, California, Plaid was based in 2013. Zach Perret is CEO.
Photograph by Christina Morillo
