Over 200 of Financial institution of America’s company and business shoppers across the U.S. — totaling 3 million staff — have adopted its Company Worker Banking and Investing program to assist bigger and mid-sized corporations add extra lending and investing packages, based on a press launch Thursday (Feb. 10).
This system debuted in 2020 and goals to assist the general monetary wellness of workforces. The discharge notes that based on a Financial institution of America examine, 95% of employers “really feel a way of accountability” for the monetary wellness of their staff.
That examine discovered that employers have been increasing office wellness packages past retirement packages, including issues like growing good monetary habits and varied different merchandise.
“Company Worker Banking and Investing is a robust resolution that expands office monetary wellness packages past schooling and profit plans — getting proper to the center of serving to staff handle and enhance their day by day monetary lives,” mentioned Aron Levine, president, most popular banking at Financial institution of America. “We’re happy with the early adoption amongst our company and business shoppers, and with the suggestions they’ve shared concerning the optimistic affect this system is having throughout their workforces.”
As well as, Lorna Sabbia, head of retirement and private wealth options at Financial institution of America, mentioned the brand new advantages will let employers assist their staff plan, save and take management of their funds.
“The demand we’re seeing right here highlights the significance of monetary wellness for each employers and staff, in addition to the necessity for monetary schooling and options to assist staff’ total monetary journeys,” Sabbia mentioned.
Financial institution of America ended 2021 on a excessive observe as a consequence of what it mentioned have been “report” ranges of digital engagement, with PYMNTS reporting that different influential components included a greater financial system and natural progress.
See additionally: ‘File’ Digital Engagement Fuels BoA’s $32B 2021
The corporate earned $32 billion in 2021, based on CEO Brian Moynihan. The report additionally mentioned BoA was seeing 41.4 million lively digital customers, a 5% enhance.
