Pocketnest Launches Employee Wellness Tool, Doubles Customers

DETROIT, Nov. 2, 2021 /PRNewswire/ -- Pocketnest, the female-founded financial wellness platform, announces its 19th enterprise customer and latest product offering: Pocketnest for Employee Wellness.

Adding Autobooks, Centerstone, Orlans and KORTX to its client roster, Pocketnest grows its enterprise customers by 122 percent since Spring 2021, with a 16 percent average monthly growth rate since launch.

Beginning with MSU Federal Credit Union, Foundation for Financial Wellness, and The Henry Ford, Pocketnest slowly introduced its employee wellness platform to financial and non-financial institutions over the past 24 months. Pocketnest now unleashes its employee wellness tool to all institutions nationwide.

"Financial wellness matters, and employees are noticing snacks and 401K plans are the employee wellness offerings of yester-year, " said Jessica Willis, founder and CEO, Pocketnest. "Employee wellness is a natural extension of our platform, as we exist to bring financial wellness to the masses, while strengthening their relationships with their institutions."

In the wake of COVID-19, employees are five times more worried about their finances than they are about their mental, physical or social health¹. Beyond COVID-induced financial woes, 44.7 million borrowers are strapped with $1.71 trillion in student debt² and $971 billion in credit card debt². Employees are looking to their employers for help.

"We launched Pocketnest to our employees at the onset of the pandemic, as it aligns with our mission to bring our communities financial wellness," Said Ben Maxim, VP of Digital Strategy & Innovation, MSUFCU. "We've seen a positive impact for our employees and know our members will benefit even more. As we continue to roll out Pocketnest to members, we're confident it will continue to bring our employees and members financial wellness."

A large majority of employers—83 percent—find offering employees financial wellness tools develops more productive, loyal, satisfied and engaged employees³.

Pocketnest licenses its platform to financial institutions to generate qualified leads and boost cross-sell opportunities; it also licenses to employee wellness programs to help employers boost recruitment, productivity and retention. Built on behavioral science and psychology, Pocketnest coaches users through 10 themes of financial wellness. Its gamified, almost-addictive approach draws users into the app to keep their financial plan up to date—in three minutes a week.

¹ Metlife's 18th Annual US Employee Benefit Trends Study 2020
² US Student Loan Debt Statistics For 2021
³ Employers' Sense Of Responsibility For Employees' Financial Wellness

Pocketnest, Inc. ^TM deepens connections between people and their financial institutions to bring them financial wellness. The platform brings financial institutions rich data and insights to reach younger audiences, serve more people, identify cross-sell opportunities, and promote financial wellness. Pocketnest licenses its software to banks, credit unions, investment advisors, 401k plan sponsors and employee wellness platforms. Employers do not have access to employee data. Learn more at Pocketnest.com.

Michigan State University Federal Credit Union is headquartered in East Lansing, MI, has 21 branches, nearly 300,000 members, over $5.4 billion in assets, and more than 900 employees. Learn more at msufcu.org.

SOURCE Pocketnest

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www.pocketnest.com