Company unveils new digital platform features, key hires and enterprise deployments with Synopsys and Ellucian as employee financial wellness takes center stage
SAN JOSE, Calif., Aug. 13, 2020 /PRNewswire/ — BrightPlan, a leader in Total Financial Wellness, today 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.
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.
“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.
Global Silicon to Software™ leader Synopsyshas seen significant results since implementing the BrightPlan solution several months ago, including attracting up to 75% of enrolled employees to attend financial education sessions. “Our partnership with BrightPlan is paying off,” said Kerstin Aiello, director of North American benefits at Synopsys. “Employees’ Financial Wellness Scores™ tripled in just six months, and our HR team loves the way BrightPlan lets us track success week to week.”
BrightPlan also recently named seasoned technology veteran Mike Mills as Chief Legal and Compliance Officer. Mike has led legal teams for over 20 years at multiple public and private SaaS, enterprise software and product organizations, including as General Counsel of Poly, a global unified communications company.
BrightPlan is a leader in Total Financial Wellness. The company is the first financial wellness solution certified for fiduciary excellence. BrightPlan provides a comprehensive personal finance solution for all employees that is real-time, personalized and integrated with employer benefits. Its unique combination of digital platform and human advisors supports employee personal financial goals at every stage of life, helping enterprises to better attract, retain and engage talent. For more, visit brightplan.com.