CommonBond, an online lending platform servicing the student loan market, announced on Wednesday the launch of CommonBond Ignite, which is described as a tailor-made solution for large financial institutions to acquire the right customers, with the right products, at the right time. According to CommonBond, the platform is a compliance-ready way for financial institutions to acquire and engage Millennial and Gen Z audiences with student loan-based solutions, as an entry point for other meaningful financial relationships.
“We have always had an open and collaborative posture with large financial institutions, and we’re excited about the significant momentum and noteworthy results our partners have seen to date. We understand that college loans are the first major financial decision consumers make – if you get that relationship right, then you’ve earned the right to serve that customer over time. We’ve been able to drive meaningful customer acquisition and engagement around multiple financial products at large financial institutions, with the college loan at the core.”
CommonBond also revealed that the launch of CommonBond comes after a significant expansion for the company. CommonBond added:
“CommonBond has forged several strategic partnerships with large companies in the last year to help consumers and employees manage, reduce, and pay down student loans through a series of innovative programs.”
CommonBond expects to launch additional partners onto the platform in 2020.