It’s been a long time coming, but over the next several months the Ryze product vision will really start coming together.
The first big step in this evolution was the launch of Ryze 2.0 back in December of 2020. Today, we’re launching another huge update. We’re calling it Ryze 2.1: The Big Payout Update.
In this update, we’re launching fast payouts to over 80 different student loan servicers. From Fedloan Servicing and Navient, to Great Lakes and Nelnet. If you have federal student loans, Ryze just made it way easier to earn rewards on the things you’re already buying and redeem that cash seamlessly to your loans as an extra payment.
During the temporary extended moratorium period on student loan interest lasting until September of this year, the time to pay down principal and get ahead of the interest has never been better. I know the pandemic has been crushing to many, ourselves included at times, so this is a unique opportunity to get ahead.
To make this happen, we have two big thank you’s to make.
First, a big huge thank you to our development partners at Nuclius. They’ve been a fantastic partner and the two developers we work most closely with, Hanz and Glendon, have been extremely impressive. To Hanz, Glendon, Pace, and Sean, thank you so much for all your effort so far.
Secondly are our friends at RightFoot. They’re the API provider behind the scenes making this new payout to student loans feature work for us. After months and months of trying to build our own connections to student loan servicers, their service was a god send. With their technology freeing us up from these payout burdens, we can more narrowly focus our efforts on bringing in more and more rewards for our users while delivering on our product vision of rewards that beat student loan debt. Thank you Dani, Deirdre, and Will.
In the future, we’ll be launching a number of other redemption options. We have heard feedback loud and clear to support ACH payments directly to any checking or savings account, so this will be coming next.
Other than that, we have many more updates to come. You all want more rewards from more merchants in more places. We hear you and we’re working hard to get there.
Lot’s of wood to chop. Let’s get chopping!