EarnUp, Inc., a financial wellness fintech company, has reached a milestone, helping millions of Americans schedule $43 billion in mortgage, auto, and student loan payments through its Payday to Payday® program and technology. EarnUp’s growth follows a surge in interest from companies seeking smart programs designed to help employees achieve a more well-rounded financial picture.
“We’re seeing an interesting trend gaining momentum among companies, who are now placing an emphasis on helping employees achieve a holistic sense of wellness: physical, mental, and now financial,” said Nadim Homsany, co-founder and CEO of EarnUp. “By offering tools that help employees achieve greater financial well-being, businesses are enhancing employee satisfaction and supporting their employee recruitment, DEI, and retention efforts.”
EarnUp’s suite of products provides a smart financial wellness program with a digital user experience that enables borrowers to schedule loan payments to sync with their payday and accelerate payments to principal. This eliminates monthly payment shock, and helps borrowers meet the obligations of their loans with less of a struggle.
Using EarnUp’s systems, borrowers can reduce the likelihood of defaulting on a loan and paying late fees, and can potentially pay off their mortgage and other loans years faster. In effect, EarnUp helps users build generational wealth by assisting with the management of their loan payments and saving thousands of dollars in interest over the life of a loan.
“EarnUp proves that in today’s challenging economy, people are interested in cutting-edge tech solutions that offer flexible payment strategies to eliminate undue stress and make budgeting easy,” said Homsany. “We now have had more than three million borrowers use the EarnUp platform and have seen borrowers reach out directly to sign up with us when their lender or servicer does not offer our services. In fact, more than a quarter of these direct requests are from customers returning to EarnUp following a refinance, or purchase of a new home.”
EarnUp was recently recognized for the impact of its revolutionary technology, winning a HousingWire Tech100 award and a 2023 Innovator Award by Progress in Lending. It also made the Financial Technology Report’s Power 300 list, which tracks the most important companies in the financial technology sector, including PayPal, Mastercard and Fiserv.