Company unveils new digital platform features, key hires and enterprise deployments with Synopsys and Ellucian as employee financial wellness takes center stage
BrightPlan, a leader in Total Financial Wellness, announced that it has tripled both its number of customers and customer pipeline since the beginning of the COVID-19 pandemic. The company has also doubled employee enrollment in its Total Financial Wellness solution since the start of the pandemic, revealing surging interest in the market’s first financial wellness solution certified for fiduciary excellence. BrightPlan provides a comprehensive and personalized real-time finance solution for all employees, by tying financial wellness to corporate benefits. The growth was fueled by a series of deployments with large enterprises including Synopsys and Ellucian.
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According to a recent PwC report, 54% of employees said financial matters are the top cause of employee stress in the workplace. Financial wellness solutions are making a substantial impact on corporate America, with more than two-thirds (71%) of employees reporting they have used their company’s financial wellness solution (2019 Bank of America Workplace Benefits Report). However, most financial wellness solutions focus only on one aspect of an employee’s financial goals (retirement) and do not analyze their complete financial picture or provide guidance to help them achieve financial security and success.
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“In these uncertain times, we’re seeing an outpouring of demand for benefits that really matter,” said Marthin De Beer, founder and CEO of BrightPlan. “We designed BrightPlan’s Total Financial Wellness solution to provide the most complete personal finance solution on the market and take aim at employee financial stress at every stage of life. Surging interest in BrightPlan’s solution reinforces that employers are embracing smart personal finance tools to not only attract and retain talent, but also to engage today’s workers with benefits that fit their specific needs.”
BrightPlan’s Total Financial Wellness solution guides employees through four key pillars to achieve financial success: learn, plan, invest and manage. Today, the company is launching a suite of new features to enhance BrightPlan Smart Budget™, an automated budgeting solution that’s a key component of its “manage” pillar. New capabilities include presenting total spending overviews, reporting year over year budget trends, generating savings budgets which assess long-term progress, and transaction rules to better categorize spending. These innovations further extend BrightPlan’s technology lead to better engage employees at every stage of life.
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