Bend Financial (Bend), today announced the signing of a long-term agreement with Elements Financial Federal Credit Union to provide the health savings account (HSA) technology solution for their more than 15,000 accountholders and 80 employers. The partnership positions Bend for strong growth and highlights the relevance of their differentiated products and services, while allowing Elements to leverage an easy-to-use platform for both administrators and end users.
Bend utilizes leading technologies, including artificial intelligence (AI) and machine learning, along with behavioral economics, to engage users and guide them toward financial health. Employers and accountholders will benefit from an FDIC or NCUA-insured HSA platform that automates tasks and simplifies administration and account management.
“What we offer is more than simply an HSA,” noted Bend CEO Tom Torre. “Our unique, powerful platform learns individual behaviors and situations, predicts outcomes and delivers actionable advice to help users best manage their health savings. This, in turn, educates while optimizing tax benefits and health spending.”
All accountholders will be able to take advantage of the Bend Advisor, a built-in tool that goes beyond basic transactions such as balance checking, transaction oversight and simple calculators to recognize patterns and suggest optimizations, pulling in data from other accounts to help identify qualified medical expenses, guide actions with timely advice and help maximize HSA benefits.
“The ‘Bend Difference’ separates them from their competition and made us confident in moving forward with the Bend platform for the next three years, and further into the future,” explained Elements Financial Senior Vice President Rebecca Littell. “They are more than just an HSA provider, and their use of advanced technologies perfectly aligns with our goals of digital excellence, to make HSAs easy to use and to empower our members to learn and develop their own individual approaches as they go.”
SOURCE Bend Financial, Inc.