Finance & Economics

Digital bank for doctors introduced in US

The bank will help doctors to plan their budgeting and manage payments

bank for doctors

Digital bank for doctors introduced in the US. Source: pexels.com

Laurel Road, a brand of KeyBank has unveiled Laurel Road for Doctors digital bank for physicians and dentists in the US.

The bank aims to help ease the burden for doctors of paying down student debt, finding more balance between work and life, and planning for the future.

Laurel Road for Doctors will offer a credit card with cashback and savings account when refinancing student loans to build savings while obtaining an even lower interest rate.

What is more, it will provide personalized data that allows doctors to compare against those in similar specialties on salary, debt, etc, utilize educational content to build financial literacy, and access custom insights for budgeting.

We believe in providing our customers with the choice to digitally fulfill their financial needs, especially when it makes their lives easier to do so. We acquired Laurel Road in 2019 with the intention of scaling this digital-born business. Through this new digital bank offering we are able to provide a secure online experience and customized banking solutions to meet the special needs of physicians and dentists
Chris Gorman, Chairman and CEO of KeyCorp

According to Laurel Road and The White Coat Investor’s survey, 66% of doctors plan to be more financially focused in 2021 to benefit their career and personal financial security compared to 2020.

We’ve reported that Wells Fargo announced financial assistance to Black-owned banks.

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