Chesterbrook-based JG Wentworth, a consumer financial services company, recently purchased Ottopay, a digital debt management and payments platform.
The purchase will allow JG Wentworth to offer clients cutting edge financial management tools and advice.
Ottopay’s digital solution allows customers to understand, manage, and pay debt obligations more efficiently. It allows consumers to save more money and pay off debt using proven methodologies coupled with digital-first guidance.
The software analyzes a client’s credit cards, payment habits, and spending trends and creates customized strategies for managing debt while avoiding late fees and other unnecessary charges. The repayment plans adapt to changes in behavior and intelligently recommends ways for consumers to save on interest and improve their financial health.
“Ottopay delivers the insights and automation consumers need to take control of their financial well-being—saving money on interest and fees while building wealth,” Jason Tepperman, JG Wentworth president and head of lending, said. “With Ottopay, consumers can tailor their payments on credit cards and other debts, removing friction and reducing the stress of managing their finances.”
Max Klein, Ottopay founder and CEO, joined JG Wentworth to help lead product for the company’s digital initiatives.
JG Wentworth offers annuity payment purchasing, consumer lending, debt resolution services, lottery and casino payment purchasing, and structured settlement payment purchasing.