BankMobile, a division of Customers Bank, and among America’s largest mobile-first banks, announced the launch of its Workplace Banking platform. The new financial wellness service offers innovative banking products that carry generous interest, early payday, built-in money management tools, over 55,000 fee-free Allpoint® ATMs and a robust banking app. BankMobile also announced that BenefitHub, a fully customizable, employee benefit and rewards shopping platform, used by employers to drive engagement, has partnered with the bank to offer its new financial wellness services as an additional benefit to its clients. Over 100 Fortune 500 companies and thousands of smaller clients provide BenefitHub to over 50 million employees and members globally.
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Financial concerns lead to more stress among employees and less productivity. According to MetLife’s 17th Annual U.S. Employee Benefit Trends Study 2019, workplace stress costs businesses $2,000 – $7,000 per employee per year. Eighty-three percent of respondents to a SHRM study said financial problems negatively impact employee performance. BankMobile helps to solve these issues through its Workplace Banking program, which offers banking services, personalized coaching, a financial wellness assessment, virtual webinars and interactive tools, among other helpful resources.
“I am truly delighted to announce our Workplace Banking platform and to be able to offer companies a holistic financial wellness solution for their employees,” stated Luvleen Sidhu, Co-Founder and CEO, BankMobile. “Financial stress continues to be a major problem faced by millions across the country, especially during these unprecedented times. We believe that a workplace banking solution offered through benefits providers will have a positive impact on the financial well-being of employees and are thrilled to partner with BenefitHub.”
“In this rapidly changing world, finding ways to provide additional and meaningful value to the employee experience is more important than ever,” said Travis Glenn, Director, Global Marketplace Content at BenefitHub. “We’re delighted to be partnering with BankMobile to offer new solutions that will help employees better deal with the financial stresses they face today.”
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