CommonBond, UBA's Strategic Alliance for student debt programs, is pleased to announce that it has acquired NextGenVest, a leading AI startup company for Generation Z customers.

NextGenVest offers an AI-powered platform for high school and college students to navigate the college financial experience. It uses a combination of human "Money Mentors" and AI to give guidance to Gen Z customers (primarily via text message). Approximately 15 percent of college-bound seniors in New York City, Chicago and Philadelphia currently use NextGenVest for guidance about college finances.

With this acquisition, CommonBond will continue to strengthen its position as a leader in providing financial resources and tools to Gen Z and Millennials, as well as their parents. CommonBond believes building trust with Gen Z will be a huge differentiator and is thrilled to remain at the cutting edge of consumer engagement. They'll also use NextGenVest's technology to integrate AI into their operations, continuing the CommonBond track record of advancing technology coupled with best-in-class customer service.

What does this mean for you? The day-to-day CommonBond for Business platform will remain the same, but CommonBond expects to roll out additional product and services in the months ahead that help employees make smart financial choices about how they pay for – and pay off – higher education.

Visit the Wisdom Network to learn more about CommonBond.