Firm’s Ongoing Technology Investment Focuses on Better Outcomes Driven by Data and Backed by Behavioral Science
Ascensus—whose technology and expertise help millions of people save for retirement, education, and healthcare—has announced the upcoming release of a proprietary mobile application called READYSAVE™. The app will give users access to their retirement plan accounts to perform key tasks such as enrolling in the plan, checking their balances, changing their savings rates, reviewing recent transactions, and using the Retirement Outlook tool to assess their savings progress.
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READYSAVE will be available to all participating employees across Ascensus’ and its outsourced partners’ 401(k) recordkeeping platforms. It represents one of multiple technology investments Ascensus has made that leverages data analytics and behavioral science to deliver meaningful insights at the right time.
“Digital experience continues to be a focus of significant and increased investment for Ascensus,” states Carl Negin, Ascensus’ chief marketing officer. “Our dedicated design and development teams channel their vast expertise in user-centered design, cognitive psychology, and visualization to meet employees’ financial wellness needs and employers’ plan-health objectives.”
READYSAVE will offer a feature that highlights potential consequences of certain decisions in order to encourage positive savings behaviors. As employees make savings decisions, the app will offer illustrations of what those elections might mean for future progress—including projected years to retirement and projected monthly retirement income. This functionality is expected to be released in summer 2020.
Ascensus’ plan sponsor clients recently recognized the company’s commitment to technology leadership in the 2019 PLANSPONSOR Annual Defined Contribution Survey, nominating Ascensus for a total of 15 awards in the technology category (including Participant Call Center, Participant Website, Sponsor Website, Plan Reporting, and Plan Analytics/Benchmarking).
