Partnership enables a faster payment execution
and greater visibility into money movement
TORRANCE, Calif., July 9, 2024
/PRNewswire/ -- Happy Money, a leading provider of unsecured
lending that helps credit unions grow, today announced a strategic
partnership with Method, a leading provider of real-time data and
payment access for consumer liabilities, to enhance the way members
consolidate and pay off high-interest credit card debt.
Happy Money offers personal loans to streamline paying off
credit card debt, saving consumers thousands of dollars thanks to
low interest rates and a single, fixed payment. The integration of
Method's liability connectivity APIs into Happy Money's platform
enables more accurate and real-time identification of members'
outstanding credit cards, live balance retrieval and balance
transfer, without requiring members to enter account numbers or
remember passwords. The partnership has resulted in an enhanced
member experience and deeper transparency into money movement.
"Happy Money is helping consumers across the country access the
capital they need to reach their goals in partnership with credit
unions and other community-focused lenders," said Jose Bethancourt, CEO at Method. "With the
integration of our technology, they are ensuring the process is as
seamless, quick and efficient as possible, creating value for all
involved."
Since the partnership's onset, Happy Money members have
connected over 50,000 accounts through Method's APIs, with millions
of dollars of consumer debt being consolidated monthly via Method's
connectivity and payment rails. Through the partnership, Method has
facilitated over $7M in balance
transfers for Happy Money members, helping them pay off debt
faster.
"At Happy Money, we believe that prioritizing borrowers'
well-being is a winning strategy; our platform allows consumers to
meet their financial goals and enables credit unions to diversify
their portfolios and grow," said Nick
Pesce, Head of Product and Design at Happy Money. "With
Method's sophisticated APIs, we gain more real-time information
around consumers' outstanding credit cards, faster payment
execution and more robust reporting."
About Happy Money
Happy Money is designing a happier way of lending that helps
borrowers achieve their goals and helps credit unions achieve
greater impact. Backed by leading investors, Happy Money has helped
over 300,000 members since inception – working with
community-focused lending partners to fund more than $6 billion in loans. Visit happymoney.com for
more.
About Method Financial
Method's APIs are redefining financial connectivity with
real-time, read-write, and frictionless access to all consumer
liability data with integrated payment rails. Method helps lenders
increase revenue by streamlining customer acquisition, improving
underwriting accuracy, and increasing line utilization through
balance transfers, all without the need for a consumer's username
and password. Today, Method powers solutions for over 60 fintechs,
lenders, and FIs including Aven, Bilt, Upgrade, and Figure. Method
is backed by a16z, Abstract Ventures, YC, Truist Ventures, and
more. To learn more, visit https://methodfi.com.
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SOURCE Happy Money