Savings Path is an online database system that is designed to support large scale managed savings programs. Children’s Savings Account programs, savings campaigns, employer based savings programs, or other incentivized savings programs can use
Savings Path to manage program enrollments, and keep track of participant savings and ongoing deposit activity.
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Incentive Calculator
Incentive calculator is embedded in the savings plan. Using the calculator program administrators can design different models of savings for different purposes. By assigning each account to a savings plan, incentive amount will be calculated according to the parameters of the plan.
Tracking
In some applications including Savings Accelerator Accounts, savings incentives are distributed periodically. With Savings Path you can keep separate track of the amount of savings incentive accrued and the portion that is distributed at a given point in time.
Batch Upload
Upload list of new participants, ongoing deposits, and incentive transfers using data organized in an excel file.
Multiple Savings Plans
Define different savings plans, combine different incentive criteria for each plan, including prize-linked incentive structures
Multi-track Models
With Savings Path you can define savings plans that feature multiple savings tracks. (This is recommended for programs that include varying incentives structures or programs that include succession plans for savers at different stages of the program)
Reports and Statements
Create program activity report and generate account statements with a breakdown of amounts saved by the participant, regular bank interest or dividends, and program specific incentives, in English and Spanish.