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Fidelity broadens mobile strategy with app that simplifies account access for employees

May 20, 2013

Financial services provider Fidelity Investments is making it easier for employees to access benefits and retirement savings plans managed by the company via a new smartphone application.

The NetBenefits app provides a look into Fidelity workplace and personal accounts to drive deeper employee engagement. It is designed to help employees stay engaged and on track with their retirement and financial goals so they can achieve better outcomes.

“As more Americans use smartphones to manage their everyday daily lives, employers are demanding additional channels of engagement for their employees so they can more easily stay engaged and be informed regarding their personal finance and retirement accounts,” said Charles Berman, senior vice president of digital platforms for Fidelity Investments, Boston.

“Providing these employers with mobile solutions – such as the NetBenefits Smartphone App – helps them empower employees with the information they need, when they need it,” he said.

Driving engagement
Fidelity has had a presence in the mobile space for over a decade, first with the launch of its mobile browser-based Web site and then with the introduction of smartphone and iPad apps over the past few years. 

The new NetBenefits Smartphone App sets the foundation for its workplace mobile strategy by providing employees easy access to their account information.

To access and view their latest NetBenefits account information via their mobile phones, users must first log-in. The app then provides a summary view of all Fidelity-serviced accounts, including workplace savings, personal investment, and health and insurance.

Users can tap to enter a specific account to check their balance, see their personal rate of return and track investments.

Additionally, users can assess their personal investing accounts, view plan summaries, vesting balances of their stock plan services accounts and get a thorough assessment of their medical, dental and vision health and insurance plans.

Stock plan transactions
Users can conduct transactions for stock plans. All other plans are limited to viewing account balances, history, positions, year-to-date performance and benefits information.

To get live assistance, users can call their plan’s toll-free phone number directly from the app.

The NetBenefits app is available to Fidelity’s 15.8 million workplace participants and can be accessed via the iPhone, iPod touch and Android phones as well as Safari and Google Chrome browsers.

A growing number of financial services companies are embracing mobile in recognition of the growing role that smartphones and tablets are playing in consumers’ everyday lives.

Fidelity points to research from LIMRA showing that nearly nine in ten insurance and financial services industry experts project that mobile technologies will have a considerable or extreme impact on the industry over the next five years. This shows why providing employers with mobile solutions that can help their employees better manage their insurance and financial needs is so important.

“After a secure login process, the app provides a summary view of all Fidelity-serviced accounts, including workplace savings, personal investment, and health and insurance,” Mr. Berman said.

“One option example is when they tap into their 401(k) or 403(b) account, participants can check their balances, see personal rate of return, and track investments – all on the screen of their smartphone,” he said.

“In addition, if a user needs live assistance immediately, the app enables them to call their plan’s toll free phone number by tapping their screen.”

Final Take
Chantal Tode is associate editor on Mobile Marketer, New York

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