Moneyhub, Aon to develop financial wellbeing app

The app will help employers support employee financial wellbeing. Aon is using Moneyhub’s Open Finance data and intelligence platform with results showing that employees using the financial wellbeing app can save an average of GBP 850 per year. Harnessing the power of Moneyhub’s Personal Financial Management (PFM) platform, Well One Money gives UK-based employees a complete view of their finances, including bank accounts, pensions, savings, investments, loans, mortgages, and credit cards. The app works with Aon’s retail discount programme, which understands employees’ spending patterns and identifies potential savings that can be made instantly. 

The new app tackles the engagement challenge head on. Moneyhub’s Open Finance Data Aggregation platform gives employees the ability to create a holistic financial picture across hundreds of financial institutions in the UK and with Analytics and Intelligence, offers personalised insights. In turn, Aon’s clients benefit from an anonymised view across their employee base to understand financial habits, needs, behaviours, and aspirations. By knowing their employees’ financial concerns, employers can proactively support them.