Financial aggregation app offers total view over personal finances
LONDON (11 June 2020) – Aon plc, a leading global professional services firm providing a broad range of risk, retirement and health solutions, has announced that a major upgrade of its integrated pension and wider financial management tool, Well One Money, has been implemented and is now available to all members of The Aon MasterTrust and Bigblue Touch (Aon’s Group Personal Pension).
The Aon MasterTrust is targeted at occupational trust-based pension schemes which no longer want to deal with the burden of today’s regulatory compliance, but which also want to offer their members a modern, professionally managed scheme with a competitive drawdown solution.
Well One Money is Aon’s latest digital tool, which uses machine learning algorithms to help employees analyse and manage all their finances in an efficient and convenient way.
Tony Pugh, DC Solutions Leader, EMEA at Aon, said:
“People are increasingly used to managing their finances online and the financial services industry has seen an inevitable surge in online financial planning during this lockdown period. By introducing Well One Money to The Aon MasterTrust and Bigblue Touch, we are offering members a genuinely innovative way to keep track of their overall finances and to plan more effectively for their retirement.
“Financial wellbeing through aggregation technology has been a priority for DC solutions in the last few years, with the focus not just on pension savings but also on members’ full range of finances. This can enhance their overall financial understanding.”
The new Well One Money digital platform takes employee data and financial aggregation to a new level, allowing employees to manage both their near- and long-term finances in a simple, convenient and holistic way.
Debbie Falvey, Head of DC Pensions H&B, EMEA at Aon, said:
“Financial stress is commonplace among employees and this is being highlighted by the issues emerging during the COVID-19 crisis. Aon’s Living the Dream Survey 2018 showed that 46% of employees look to their employer to help them with managing their day-to-day financial needs.
“Well One Money allows employers to fulfil that expectation by supporting their employees’ financial wellbeing while at the same time tackling the issue of financial stress, which can affect employee health and performance. The Aon MasterTrust and Bigblue Touch members will be better equipped to oversee all their finances and to get the required help to set spending and savings goals - and to stay on track."
Key benefits of Well One Money:
- An easy-to-use app including finger print login
- A personalised newsfeed giving details of spending information, budgeting, news, tips and possible savings
- Discounts on a wide range of products matched against the member’s actual spending habits
- Spending budget functionality, which allows users to define spending notifications against accounts, cards or spending categories
- Savings forecasting, with ‘what if’ capability
- Open banking connections to the member’s bank – secure and open control functions
- Details of achievements to help people see their progress
More information on Well One Money is available here.
Aon plc (NYSE:AON) is a leading global professional services firm providing a broad range of risk, retirement and health solutions. Our 50,000 colleagues in 120 countries empower results for clients by using proprietary data and analytics to deliver insights that reduce volatility and improve performance.
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