Healthcare professionals and first responders dedicate themselves to the wellbeing of others on a daily basis. However, they often find themselves grappling with significant financial challenges, having accumulated substantial credit card and student loan debt while pursuing their education, which subsequently hampers their access to essential financial resources and services upon graduation.

Plannery alleviates the financial burdens of healthcare professionals through a dedicated financial wellness platform tailored specifically to their needs. Their platform expedites the journey to financial freedom with a comprehensive range of resources designed to reduce and eliminate debt.

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Through Method, Plannery has unlocked realtime, precise insights into applicant debt profiles, allowing us to showcase tangible savings and maximize conversions.
‍- Andrew First, CTO and Co-Founder, Plannery

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Objective

Plannery aimed to tackle financial debt obstacles by building payroll-linked products and a debt assistance program to help providers who may not otherwise have access to or qualify for those tools, including debt consolidation and student loan forgiveness programs. They serve with the mission of improving financial outcomes for our 20 million healthcare professionals.

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Approach

The team recognized that to create a fully functional financial wellness dashboard, they needed a solution that could seamlessly access and consolidate real-time liability data while integrating payment rails. This endeavor required specific real-time data points, including interest rates, balances, and payment amounts for credit cards and personal loans, all with the ultimate aim of providing healthcare workers with a comprehensive suite of financial tools and resources. Method met with Plannery and laid out a plan of API enablement that would power their desired solutions with minimal downtime. Method’s Liabilities Data Connect API delivers the real-time, consolidated view of all debt for users, while the Liabilities Payment API enables electronic payment to more than 15k financial institutions.

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Benefits for Plannery Users

Plannery partnered with Method to create a seamless users experience

• Financial dashboard that provides a transparent view into a user’s liability stack, empowering them to seek lower interest rates and consolidation opportunities.
  
• Drastically reduce user loan application and funded time. Consumers are prequalified for accurate offers, based on the current balances on their debt stack.
• Customized Repayment Plans: With insights into consolidated debt, Plannery is able to create actionable repayment plans 
• Streamlined Electronic Payoff: Allows members to transfer balances and make payments from their existing cards at other financial institutions within the dashboard.
• Discovery: Users can save on interests and fees by switching to financially healthy products

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Impact

Since launching in 2022, Plannery has consolidated $2M in debt for over 100 healthcare professionals, and amassed a waitlist of almost 4,000 registered nurses for its new card product.

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“Plannery has given me a second chance. After battling through the financial challenges of the COVID-19 pandemic, I found myself shouldering some significant credit card debt. My credit score tumbled. My options for personal loans were very limited. Then I came across Plannery. Give their unique repayment plan, they were able to offer me 2 personal loans at approximately 20% less interest than other banking platforms had qualified me for. It has been life changing. I’m so thankful to have a rising credit score, and a plan to be debt free in 3 years.”
- Jason, PA-C‍

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About Plannery

Plannery is building a digital financial wellness platform for healthcare professionals. Founded by Krish and Andrew and backed by top tier VCs, their mission is to make it easy and effortless for healthcare professionals to achieve their financial goals. Their first product they launched addresses one of the biggest pain points for healthcare professionals: financial stress due to debt. Plannery plans to offer the entire suite of financial products - lending, savings and investment products - all tied together with automation.

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About Method Financial

Method Financial empowers real-time data and payment access for consumer liabilities. Using a consumer’s PII, Method can securely connect all of a user’s liabilities, retrieve comprehensive data, and enable payment access. Method’s industry-backed network allows lenders, fintechs, and financial institutions to build personalized lending and financial management experiences supported by comprehensive real-time credit data, evergreen connections and integrated payment rails. Method powers access to liabilities held at over 15,000+ FIs in the US, covering 95% of all outstanding consumer debt.