In a move that further expands the neobank’s customer offerings, Moven has partnered with debt-refinancing and -consolidation companies CommonBond and Payoff.
To encourage the financial health of account holders, Moven is offering special deals for student-loan-refinancing platform CommonBond and credit card debt-consolidation platform Payoff.
Customers who pay using their Moven account at CommonBond receive a $200 credit and 25 basis points off their monthly student-loan repayment. Payoff users receive a $100 credit to their Moven account.
Though the partnership isn’t a full integration with the Moven platform, it’s a good start that competes with traditional banks and other neobanks. American Banker says Moven’s new partnershipes “signal the neobank’s wider goal of becoming ‘the card on file for your life,’ as Alex Sion, Moven’s president and a co-founder, put it.”
This isn’t the first time Moven has expanded its offerings for account holders. In an earlier effort to become top-of-wallet, the company recently launched a deals program that gives card-holder discounts at four merchants.
Moven was founded in 2011 by CEO Brett King. The company debuted its Financial Health platform at FinovateSpring 2015 in San Jose.