Today, we are announcing the release of the new ReadyForZero savings platform. By allowing trusted financial partners to make personalized savings offers to ReadyForZero users, we are now able to give you options that will get you to your financial goals faster. If the product or service will save you time and money based on your ReadyForZero performance and financial profile, we’ll let you know about it. If it doesn’t save you anything, who cares?
The best part: no data is exchanged with third-parties to present you with savings offers. It’s anonymous, secure, and automatic.
Here’s a more detailed description of how the savings platform actually works:
1. The ReadyForZero approved partner creates an offer and provides the qualification triggers that will decide who to show the offer to.
2. We run the numbers to find savings based on the triggers, your financial goals, and your situation. Triggers may include but are not limited to a combination of the following data points:
- months on ReadyForZero
- ReadyForZero speed
- credit score
- actual payment history
- number of outstanding accounts
This means your financial goals and performance will help drive what savings you qualify for.
3. When we find a way to save you money, we present the offer details directly to you so you can decide what to do. If the offer makes sense for you, you can accept it and connect with that financial provider. Until then, the provider doesn’t know a thing about your account with ReadyForZero.
So not only is it completely secure and convenient, but we filter the best options and only show the ones that will help with your specific situation (see examples below). The better you perform, the better the offers you get.
Example of a savings offer with the loan details highlighted.
You might wonder how we can personalize these savings offers while keeping your information completely secure and private. The way we do that is by allowing partners to set triggers based on anonymous behavioral and financial factors. For example, an offer can be as simple as lower interest loans for any user with a debt load above a certain threshold, or as complex as a time-sensitive financial hardship concession for users with a great payment history. The key is that the triggers allow us to automatically make the offer available to you in real-time while keeping your information completely private. You decide to ignore or accept.
This means there will be more ways for you to save time and money while working toward your financial goals.
A wide range of users are attracted to ReadyForZero and we’re confident that this new savings platform will open up more ways for us to use technology and help people control their debt. Already, people are managing over $180M in debt using ReadyForZero, and have reduced debt by $8.5M. Our plan is for the savings platform to help accelerate this even more.
What do you think? Let us know your thoughts on this new feature – either in the comments below or via e-mail. We always like hearing from you.