Swiss Life Network partners with nudge to expand its financial wellbeing offering

nudge – the global leader in financial wellbeing

Swiss Life’s new partner, nudge, is a financial wellbeing platform designed to help users take control of their financial future. It provides education on personal finance, money management tools and gives users personalised prompts to help them reach their financial goals.

Built on the understanding that an individual’s financial situation is personal, nudge encourages people to make good financial decisions whichever life stage they are at. It aims to nurture user’s understanding of their money, so they can take control of it and feel confident in the decisions they make.

For businesses that are working to improve wellbeing among their staff, adopting nudge as part of your employee benefits solution is a positive step forward. 

The increasing importance of financial wellbeing

As awareness for health and wellness grows, there is an increasing focus on the role of financial wellbeing. nudge reports that 52 percent of people surveyed admitted to being worried about money every day. In addition, 25 percent said money worries impact their mental health.

Employers have an opportunity to help tackle these issues. They are already a source of income for employees, and they can go one step further to help individuals better understand their money and navigate situations sensibly.

It is also worth mentioning that only seven percent of employees who are worried about their money feel they can talk about the problem at work. With colleagues on different salaries and benefits packages, it is a subject they feel is best left to discuss with HR, and even those discussions can feel uncomfortable.

The nudge difference

Businesses that adopt Swiss Life’s latest offering, nudge, will be able to empower their people with money skills, knowledge and tools without overstepping their responsibilities.

The platform uses news, data and behavioural psychology to target people with tips and articles on the financial issues that relate to their circumstances and preferences. All of the information is free from product and provider bias to avoid impacting the user’s freedom of choice. 

Users receive notifications when it may be beneficial to take action, which are sent based on the individual’s preferences. These may be prompted by regulatory changes, seasonal trends and new opportunities. Armed with this timely information, employees can take confident steps to reach their financial goals.

Better strategies for all employees

Employee benefits packages give employers an opportunity to better reward and support people, to encourage them to stay with a business. nudge is designed to improve engagement with employee benefits by educating users about their benefits and how to make the most of them. As a financial wellbeing tool, nudge is also helping businesses to provide a holistic wellbeing package to ensure every employee feels supported through work.

For Swiss Life Network, nudge is an obvious wellbeing partner. As a business aimed at giving people financial confidence through completely tailored solutions, Swiss Life’s purpose aligns perfectly with nudge. Working together, nudge and Swiss Life can reach more people to increase awareness around financial choices.