TechStars Alumnus Strengthens its online financial platform with PLAID automated account integration, making it easier than ever for Penny members to gain full visibility and control over their finances
BOSTON–(BUSINESS WIRE)–Penny Finance, the online financial mentorship platform for women, today announces the launch of automated account integration with PLAID, allowing for improved money insights and more accurate financial reporting for members.
Imagine being told every Monday via email how you could make more money today, or how to grow your wealth over time with easy, simple steps? Penny’s new feature enables women to link their bank accounts for an even better and seamless member experience. Once an account is linked, numbers update automatically. Members receive regular, personalized email reminders and a customized version of the digestible education and mentorship Penny is known for, delivered straight to their inbox. (For example, “you could save on interest payments with a 0% promotional credit card”; or “you could earn $516 extra dollars by moving your standard savings account to a high yield savings account.”) From explaining what accounts you actually have, what to do with them to maximize your financial potential, and the immediate steps to take next, it’s the perfect tool to help women become masters of their own personal financial journey.
“Managing your finances should be easy. You shouldn’t have to dig through statements, read a finance book, or ask your dad how to manage your money. We are so excited to take the guesswork out of managing your money for the most high-potential group of investors out there: women.” says Crissi Cole, CEO & Founder of Penny Finance.
Eva, a Penny member, shares her experience: “I open my inbox on Monday mornings, with money guilt after spending too much money over the weekend, and Penny tells me what to do next. I learned that a portion of my 401k was sitting in cash and if I invested it, it would increase my future net worth by $142,000. My anxiety and shame has subsided, because it took me 5 minutes to set up my Penny account, and I never had to talk to anyone, or feel like I had no idea what I was doing with my money.”
If you have less than $100k in the bank, this is for you! Women who were historically ignored by the financial system for not meeting the threshold can now get financial tips from a virtual advisor, at less than $100 a year. No money, no time, no problem. Penny’s got your back.
About Penny Finance
Founded by Wall Street veteran Crissi Cole, Penny Finance is the first personalized and tech-powered financial mentor that provides real-world knowledge to women who don’t have access to a financial advisor. Through tailor-made money plans, instant insights, and digestible financial education, Penny offers individualized money advice to help women increase cash flow today, and retire with wealth tomorrow. Penny Finance was selected as one of ten companies to participate in the 2023 TechStars Future of Longevity Accelerator in partnership with Pivotal Ventures, an investment and incubation company created by Melinda French Gates. Join the Penny Finance community at penny-finance.com
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