Corporate Adviser
  • Content Hubs
  • Magazine
  • Alerts
  • Events
  • Video
    • Master Trust Conference 2024 videos
  • Research & Guides
  • About
  • Contact
  • Home
  • News
  • In Depth
  • Profile
  • Pensions
    • Auto-enrolment
    • DB
    • DC
    • Defaults
    • Investment
    • Master Trusts
    • Sipps & SSAS
    • Taxation
  • Group Risk
    • Group Life
    • Group IP
    • Group CIC
    • Mental Health
    • Rehab
    • Wellbeing
  • Healthcare
    • Musculoskeletal
    • Mental Health
    • IPT
    • Wellbeing
    • Trusts
    • Cash Plans
  • Wellbeing
    • Mental Health
    • Health & Wellbeing
    • Financial resilience
  • ESG
No Result
View All Result
Corporate Adviser
No Result
View All Result

Aon partners with Moneyhub for financial wellbeing app

by John Greenwood
January 15, 2021
Share on FacebookShare on TwitterShare on LinkedInShare on Pinterest

Aon is collaborating with Moneyhub for the development of its financial wellbeing app ‘Well One Money’ that claims to save employees an average of £850 a year.

Aon is using Moneyhub’s Open Finance data and intelligence platform – Personal Financial Management – to give UK employees a complete view of their finances, including bank accounts, pensions, savings, investments, loans, mortgages and credit cards through the Well One Money app. The app works with Aon’s retail discount programme, which understands employees’ spending patterns and identifies potential savings that can be made instantly.

Moneyhub’s Open Finance data aggregation platform gives employees the ability to create a holistic financial picture across hundreds of financial institutions in the UK and uses  analytics and intelligence to offers personalised insights. Aon’s clients benefit from an anonymised view across their employee base to understand financial habits, needs, behaviours and aspirations. By knowing their employees’ financial concerns, employers can proactively support them, says the consultancy.

The app connects with Aon’s retail discounts programme by highlighting the savings they could make against their personal spending. The app presents employees with a ‘dashboard’ of their spending across retailers and financial accounts.

Additional features include account aggregation, spending analysis, financial forecasting and personalised nudges.

Aon UK technology product manager Dominic Manley says: “Financial education has long been discussed by employers, and rightly so. But a key factor has been the need for individuals to understand exactly what they have and what they spend, along with the ability to make adjustments that can support their financial wellbeing – and in doing so, increase their peace of mind.

“Working with Moneyhub means we can offer our clients’ employees a truly elevated experience, empowering them to manage their money more effectively and make the most of the benefits we offer. When we approached Moneyhub we knew we needed a platform that could give our users an overview of their whole financial universe. We found that, and more, with Moneyhub.

“This app not only enables people to manage their money in a better way, but also to understand fully the benefits offered by their employer and to make the most of them – including how to save money on items they would normally purchase. A simple nudge helps them instantly and sensibly save £850 per year – with the potential to save more. It’s intuitive because it’s based on real data and real banking insights into where people spend their money.”

Moneyhub CEO Samantha Seaton says: “Open Finance is already transforming the way people use their financial data and it’s great to see such an innovative project have such an immediate impact.

“With Moneyhub’s unique combination of insight, tools and technology, users have a truly holistic view of their finances in real-time, while smart, actionable nudges can help people make small financial changes that can make a big long-term difference. As we work with Aon to continually improve their proposition, we can be confident that users could not be better placed to secure their financial health in the short, medium, and longer term.”

 

VIDEO

Corporate Adviser Special Report

REQUEST YOUR COPY

Most Popular

  • 5pc of assets in UK PE: 17 providers sign Mansion House Accord

  • Scottish Widows, Fidelity and Hargreaves swerve Mansion House Accord

  • Rapid asset growth sees 9 providers pass £25bn mark: CA Master Trust and GPP Defaults report

  • Aviva and Age UK call for ‘mid-retirement’ MOT to stop people outliving pension savings

  • TPT first provider to confirm CDC plans

  • Aviva appoints Noon as Master Trust chair

Corporate Adviser

© 2017-2024 Definite Article Media Limited. Design by 71 Media Limited.

  • About
  • Advertise
  • Privacy policy
  • T&Cs
  • Contact

Follow Us

X
No Result
View All Result
  • Home
  • News
  • In Depth
  • Profile
  • Pensions
    • Auto-enrolment
    • DB
    • DC
    • Defaults
    • Investment
    • Master Trusts
    • Sipps & SSAS
    • Taxation
  • Group Risk
    • Group Life
    • Group IP
    • Group CIC
    • Mental Health
    • Rehab
    • Wellbeing
  • Healthcare
    • Musculoskeletal
    • Mental Health
    • IPT
    • Wellbeing
    • Trusts
    • Cash Plans
  • Wellbeing
    • Mental Health
    • Health & Wellbeing
    • Financial resilience
  • ESG

No Result
View All Result
  • Home
  • News
  • In Depth
  • Profile
  • Pensions
    • Auto-enrolment
    • DB
    • DC
    • Defaults
    • Investment
    • Master Trusts
    • Sipps & SSAS
    • Taxation
  • Group Risk
    • Group Life
    • Group IP
    • Group CIC
    • Mental Health
    • Rehab
    • Wellbeing
  • Healthcare
    • Musculoskeletal
    • Mental Health
    • IPT
    • Wellbeing
    • Trusts
    • Cash Plans
  • Wellbeing
    • Mental Health
    • Health & Wellbeing
    • Financial resilience
  • ESG

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.