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This achievement highlights the company’s industry-leading role in providing innovative and integrated student loan and retirement solutions to the market.
New York, March 19, 2024–(BUSINESS WIRE)–Candidly, the leading AI-powered student loan and savings optimization platform, has been named to Fast Company’s prestigious list of the World’s Most Innovative Companies in 2024. Candidly earned this award for its pioneering role in transforming traditional companies. Retirement benefits with new retirement plan provisions that free student loan borrowers from side hustles and provide long-term financial security. To date, Candidly is projected to have affected the employees he serves with his $1.2 billion in student debt.
Candidly’s Student Loan Retirement Match solution operates under the provisions of the SECURE Act 2.0, which went into effect on January 1, 2024, to help employers match employee student loan payments with tax-advantaged retirement contributions. I will make it possible. This presents an unprecedented opportunity for the 45 million Americans with student loans, 80% of whom have prioritized paying off their debt over paying for retirement and have spent years (many) If you are missing out on compounding interest on your assets (for decades), he says. Candidly urgently implemented her smart SECURE 2.0 policy, allowing workers to simultaneously advance debt repayment and wealth building through retirement matches on student loan payments.
“Candidly’s elegant end-to-end, plug-and-play digital experience makes it easy for employers to implement student loan retirement matches for all of their employees, providing a more comprehensive and accessible retirement experience.” said Laurel Taylor, Founder and CEO. Be frank. “The work we have to do is to ensure that all employers and the entire retirement ecosystem are SECURE 2.0 ready so that workers from all walks of life can claim their first match and maximize opportunities today. For workers, access to student loans is necessary.” A retirement match can be the difference between having zero retirement savings and accumulating $450,000 in estimated retirement savings. That’s more than three times the amount that today’s average boomer saves for retirement. “As a byproduct of carrying out our mission to empower hard-working Americans to rise above debt to health and, ultimately, wealth,” Taylor said.
In addition to working directly with employers, Candidly also serves as an industry-leading Software-as-a-Service embedded financial technology provider for 401(k), 403(b), and 457(b) We enable leading companies in their field to: It will be on the market in a few weeks. Candidly’s client roster includes prominent record keepers, retirement planning advisors, wealth managers, insurance, tuition assistance, and financial wellness providers including Empower, Guild, HUB International, Lincoln Financial Group, PNC, UBS, and Vanguard. It contains.
In addition to helping hard-working Americans claim retirement benefits, Candly is also providing extensive worker services to coincide with the 3.5-year grace period for federal student loan payments that ends in October 2023. provided. Since then, Candory has seen usage increase by over 460% and took the following initiatives at this critical moment: Provides significant financial relief through personalized guidance, helping workers find, compare, and apply for federal income-based repayment plans and public service forgiveness plans. For example, through Candidly, employees eligible for the new Save on A Valuable Education (SAVE) plan saved an average of $453 on their monthly payments.
This year’s Most Innovative Companies list spotlights companies that are shaping industries and culture through innovation. These organizations, like Candidly, are setting new standards and achieving remarkable milestones in every sector of the economy. Fast Company’s list of most innovative companies can be found here.
About Candori
Candidly is an AI-powered student loan and savings optimization platform that addresses the entire education expense lifecycle, allowing people to pay off student loans and build wealth at the same time. We openly partner with leading employers and financial services firms that provide workplace services such as 401(k) and 403(b) recordkeepers, retirement plan advisors, and more to provide comprehensive workplace benefits and embedded financial solutions. Build.
Candidly is backed by leading venture capital and strategic investors including Altos Ventures, Breton Capital, Cercano Management, Impact Engine, Rethink Impact, Salesforce Ventures, UBS, and Unum. For more information, please visit www.getcandidly.com.
About Fast Company
Fast Company is the only media brand dedicated entirely to the critical intersection of business, innovation and design, attracting the most influential leaders, companies and thinkers about the future of business. Headquartered in New York City, Fast Company is published by his Mansueto Ventures LLC with sister publication His Inc. and can be found online at www.fastcompany.com.
View source version on businesswire.com. https://www.businesswire.com/news/home/20240319365061/ja/
contact address
Media inquiries:
Colin Crook
colin.crook@getcandidly.com
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