Known for developing dynamic finance solutions, Monterey Financial Services reveals what traditional financial institutions can learn from fin-tech in advancing an era of equalized education, economic success

OCEANSIDE, Calif., Aug. 09, 2023 (GLOBE NEWSWIRE) -- As the nation experiences a monumental shift from in-person theoretical learning to skills-based online platforms, financial institutions can play a transformative role in supporting a more accessible, egalitarian approach to education. Monterey Financial (MFS) - a leader for over 30 years in the Consumer Finance, Loan Servicing Management, and Delinquent Debt Recovery space - is known for its ingenuity in developing unique, effective financial solutions to a variety of complex challenges that emerge in a disruptive economic climate. Now, their dynamic team of fin-tech experts shares the key measures existing financial entities can take to advance the rapid democratization of education.

“We are on the verge of an unprecedented shift in the way we, as a country, view education and career development,” explains John Owens, MFS Executive Vice President. “Online platforms are quickly emerging as the primary method of building valuable job skills. Financial institutions have the extraordinary opportunity to play a vital role in making these programs widely accessible to job seekers while also supporting the growing market of program creators and coaches.”

Today’s fast-paced job market is undergoing a revolution in which economic success no longer hinges on traditional higher education degrees. Online education platforms have reconstructed a learning landscape where professionals of all ages and from all walks of life can pursue specialized skill courses aligned with the ever-changing demands of emerging markets. The rise of remote work and digital nomadism reinforces a need for continuous learning and skill enhancement, calling for both greater access to online education and an increase in program content creators.

The majority of traditional financial institutions have been slow to adjust to recent changes, creating a bottleneck that drastically slows the industry from advancing as smoothly and quickly as the job market requires. Financial entities have historically played an important role in connecting eager learners with opportunities for higher education. Now, Owens and his team at MFS are proactively modeling how these same institutions can continue to support individual and collective economic success by:

1. Cultivating long-term ed-tech market growth. MFS is developing the ongoing financial support that empowers coaches and educators to elevate the quality and diversity of their offerings, enrich their infrastructure, and recruit expert team members while also offering the flexible short-term payment options necessary to attract a wide range of students.
2. Empowering job seekers. MFS is helping students navigate financial hurdles by offering flexible payment options specifically tailored for short-term programs and courses, helping them gain the essential skills to survive and thrive in an ever-shifting job market.
3. Transitioning higher education into an exciting new era. MFS is ready to partner with traditional institutions of higher learning to develop competitive payment options for their growing online course catalogs.
   

As the demand for short-term online programs grows, the need for flexible, supportive financing options becomes increasingly critical. This gap presents an enormous opportunity for finance companies to step in and contribute to the democratization of online education. Relying on a long history of dynamic financial problem-solving, MFS is perfectly poised to lead the charge in connecting individuals and online programs with the responsive financing they need to succeed.

Learn more and discover why MFS is a trusted industry leader at montereyfinancial.com. Contact the MFS team here or call 1-800-456-2225.

About Monterey Financial Services:

Monterey's mission statement: To empower every business with the ability to optimize their sales through financing while maximizing growth and cash recovery. Monterey Financial Services has forged a reputation for unparalleled customer service, developing tailor-made consumer finance solutions for businesses selling products and services to consumers. Solutions are built to fit clients’ requirements, whether they bundle Monterey services together or use what appeals to their specific needs. With services such as consumer finance, rent-to-own financing, loan servicing, custodial services, and delinquent debt collections, clients have the opportunity to profit from consumer receivables of all credit classifications and all stages of the receivables life cycle. With industry-leading results, Monterey remains committed to combining the best technology with its talented staff to achieve a primary objective for its clients to optimize portfolio performance. For further information, please visit the company's website at www.montereyfinancial.com.

Media Contact: The JKO Agency

Jessica Kopach
jessica@thejkoagency.com 

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