As a financial advisor or coach, it can be tough to track down loans and credit cards for a client when developing a debt reduction plan.
This process currently involves interpreting an assortment of bank statements, building out a templated Excel spreadsheet, and sometimes managing phone calls with loan servicers. It’s is a major time sink!
We’re not big fans of wasting advisor’s time, so we’re excited to announce a new feature: Payitoff Sync!
How It Works
Advisors on Payitoff can have their clients sync their debt in minutes instead of needing to collect it manually. Check it out:
Minutes (Not Hours)
The basic flow looks like this:
- Advisors generate a secure, one-time-use link that expires in 3 days.
- Advisors share the link directly with the client.
- The client uses the link to connect with their debt accounts directly.
Every single student loan servicer, bank or credit institution is covered (including the National Student Loan Data System).
We’ve partnered with Quovo to manage the connection with the banks, so we’re not storing any sensitive client information — authentication is handled directly with the institution. Nice!
When Can I Use It?
Right now! If you’re a part of the beta program, you already have access to this feature from the client loan dashboard.
If you haven’t signed up yet, there’s still a few spots available in the program. We’d love to know what you think!