REBA Technology Survey 2017/18: Financial wellness platforms expected to experience high growth

Despite being relatively new financial wellness is catching on fast within the workplace and as such financial wellness platforms are expected to experience high growth, according to a new survey from the Reward & Employee Benefits Association (REBA) in association with JLT Employee Benefits.

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The REBA Technology Survey 2017/18 found that currently such platforms are few and far between with just one in five (19.4%) currently using such platforms. However nearly a quarter (23.6%) have such platforms under development and more than a third (37.6%) plan to implement such a platform in the next three years.

“Financial wellness in the workplace is a relatively new concept,” said Debi O’Dononan, director at REBA. “However it’s catching on fast as employers realise the benefits of supporting their staff with their financial wellbeing as well as their physical and mental wellbeing.

"Online platforms allow employees to access educational tools, financial modelling software and networks of financial professionals that they can contact for advice so it’s little surprise that they are proving attractive,” she said.

Download the REBA Technology Survey 2017/18 in full.