NEW YORK, Sept. 23, 2021 /PRNewswire/ -- Laurel Road, a
digital banking platform of KeyBank with specialized offerings for
healthcare and business professionals, unveiled today the Laurel
Road Checking account and mobile application, allowing existing and
new members the ability to more easily manage their finances, save
money while paying down student debt, and bank from anywhere,
anytime.
Just six months after launching Laurel Road for Doctors, a new
suite of financial and banking products tailored to physicians and
dentists, the company is advancing even further as a digital
banking platform with the launch of Laurel Road Checking.
This new offering adds to Laurel Road's existing line-up of
digital banking products, which includes a Student Loan Refi &
Linked Savings℠ account and Student Loan Cashback℠ Credit
Card, along with student loan refinancing, personal lending, and
mortgage options, making it a comprehensive platform for all the
financial solutions that healthcare and business professionals
need.
As part of this launch, and to also understand how young
Americans are banking, Laurel Road recently conducted a survey
of 2,000 Gen-Z and millennials. The findings show that many are
looking for a change, as 45% of respondents said they are
interested in switching to a new bank but are not sure where to
start and 38% noted they would be encouraged to make the switch to
a new bank because they're looking for better savings options.
"We know that the majority of Americans, both healthcare
professionals and young Americans navigating high student debt and
in demanding careers, are looking for banking and financial
solutions that fit into their busy lifestyles and help them meet
their goals. That's why our new checking account and mobile app are
designed to provide ease to our members as they manage their money,
while also helping to develop best practices around saving and
growing their finances," said Alyssa
Schaefer, Chief Experience Officer at Laurel Road. "As
we strive to continue our efforts of providing exceptional digital
experiences with high-touch human support, it's important to
keep in mind that no one's financial journey is stagnant,
which is why we have created products that will continue to grow
with each of our members."
To support this desire for new banking experiences that also
provide savings opportunities, Laurel Road Checking offers
discounts of up to 0.55% on refinancing your student loan with
Laurel Road when you open up a Laurel Road checking account and
make recurring monthly direct deposits – that means reaching
variable APRs as low as 1.37%. Those approved for a student loan
are eligible to secure a student loan rate reduction by
contributing to the checking account with monthly direct deposits,
securing significant savings – and this is achieved all online in
one cohesive experience. Additional benefits that come with opening
a Laurel Road Checking account include:
- A limited time offer of $500 cash
bonus when making direct deposits totaling $2,500 or more within 60 days of opening the
account.
- Overdraft protection, no minimum opening deposit, and no
account maintenance fee
- World Debit Mastercard benefits, including chip capabilities
and no monthly or annual fee
- 40,000+ ATMs nationwide
Members can also easily access the new Laurel Road mobile
application as it is both iOS and Android accessible. It features
exciting capabilities, including an ATM finder, mobile check
deposit, P2P/Zelle contact list integration and transfers, bill
payment management, and check ordering options.
Additionally, those who choose Laurel Road as their digital
banking platform of choice have access to Laurel Road
Perks!, a growing partner network of exclusive offers,
discounts and benefits for all Laurel Road members, which includes
partners such as P.volve, Sakara, Brooklinen, KidPass, and
Talkspace.
To learn more about Laurel Road Checking, the new mobile app and
Laurel Road's growing digital banking offerings, visit
(laurelroad.com/checking-launch).
About Laurel Road
Laurel Road began originating
student loans in 2013 and has since helped thousands of
professionals with undergraduate and postgraduate degrees
consolidate and refinance more than $9
billion in federal and private school loans. Laurel Road
also offers a suite of online graduate school loan products,
mortgages and personal loans that helps simplify lending through
customized technology and personalized service. Additionally,
Laurel Road's physician and dentist customers have access to Laurel
Road for Doctors, a tailored digital experience and specialized
service launched in March 2021. In
April 2019, Laurel Road was acquired
by KeyBank, one of the nation's largest bank-based financial
services companies. For more information, visit www.laurelroad.com.
Laurel Road is a brand of KeyBank National Association offering
online lending products in all 50 U.S. states, Washington, D.C., and Puerto Rico. The mortgage product is not
offered in Puerto Rico. KeyBank is
a Member FDIC. Equal Housing Lender. NMLS ID # 399797.
About KeyCorp
KeyCorp's (NYSE: KEY) roots trace
back 190 years to Albany, New
York. Headquartered in Cleveland, Ohio, Key is one of the nation's largest
bank-based financial services companies, with assets of
approximately $170.3 billion at December 31, 2020.
Key provides deposit, lending, cash management, and investment
services to individuals and businesses in 15 states under the name
KeyBank National Association through a network of more than 1,000
branches and approximately 1,400 ATMs. Key also provides a broad
range of sophisticated corporate and investment banking products,
such as merger and acquisition advice, public and private debt and
equity, syndications and derivatives to middle market companies in
selected industries throughout the United States under
the KeyBanc Capital Markets trade name. For more information,
visit https://www.key.com/.
Media Contact:
KWT Global for Laurel Road
610-908-9874
laurelroad@kwtglobal.com
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SOURCE Laurel Road