This year’s NY TechDay brought in more than 575 startups and tech influencers from a wide range of markets, including social impact, music and media, health and fitness, education, and fintech.
TechDay, which is marketed as the “U.S.’s largest startup event,” brings together new startups with industry leaders, investors and press.
Among the exhibiting startups were several companies offering up fresh fintech ideas and tools – from student loan repayment tools to document organization to kids’ savings accounts.
Here are four fintech tools and companies that came out of this year’s NY TechDay.
PeopleJoy launched about 15 months ago with the goal to work with employers to help pay off employees’ student loans.
Calling itself a “financial wellness benefits provider for the modern workforce,” PeopleJoy works with companies to offer their employees student loan repayment assistance and refinancing, matched savings plans, and financial literacy education. Employees increasingly have to decide between paying off debt, building an emergency fund or saving for retirement.
Once they get rid of debt, according to founder and CEO Emeka Oguh, they start saving for retirement.
Student loan debt is at a record high $1.3 trillion, impacting 7 in 10 graduates and growing at a rate of $2,726 per second, according to PeopleJoy.
Nearly 80% of U.S. workers with student loans would prefer company student loan repayment assistance over a 401(k) retirement plan match, according to PeopleJoy.
Because of this more employers are starting to offer student loan repayment assistance as benefit to attract and retain talent.
“Companies are starting to realize this is an issue,” Oguh told ThinkAdvisor.
PeopleJoy is launching at five companies.
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