Financial Wellness Software Market Report 2024, Featuring Profiles Of Intuit, Voya Financial, Alight Solutions, Moneylion And Plansource Holdings
Financial Wellness Software Market Report 2024, Featuring Profiles Of Intuit, Voya Financial, Alight Solutions, Moneylion And Plansource Holdings . (MENAFN - GlobeNewsWire - Nasdaq) Dublin, Nov. 06, 2024 (GLOBE NEWSWIRE) -- The "Financial Wellness Software Market Report 2024" has been added to  ResearchAndMarkets.com's  offering.The financial ...
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Major trends for this period include the integration of extended reality (XR), the expansion of edge computing, customization for diverse demographic needs, innovations in cybersecurity and hyper-automation, and the use of robotic process automation (RPA).



The growing financial stress is expected to drive the expansion of the financial wellness software market. Financial stress refers to the emotional strain and pressure individuals or households experience due to financial difficulties or uncertainties. The increase in financial stress is caused by factors such as economic uncertainty, high personal debt, rising living costs, job insecurity, lack of financial literacy, escalating healthcare costs, societal pressures, and psychological factors.

Financial wellness software helps mitigate financial stress by providing personalized action plans, benchmarking insights, financial planning tools, and access to coaching, thereby improving financial health and reducing stress levels. For example, in November 2022, a report from the Australian National University, an Australian-based non-governmental organization, noted that the proportion of Australians considering price rises a major issue grew from 37.4% in January 2022 to 56.9% by October 2022. Thus, increasing financial stress is driving the growth of the financial wellness software market.

Leading companies in the financial wellness software market are focusing on developing advanced solutions, such as AI-driven virtual coaches, to enhance personalized financial wellness by offering tailored financial guidance and support. An AI-driven virtual coach for personalized financial wellness is a sophisticated digital tool that uses artificial intelligence (AI) to provide customized financial advice and support. This software utilizes machine learning, data analysis, and natural language processing to offer personalized insights based on a user's unique financial situation, goals, and behaviors.

For instance, in May 2021, Ascensus LLC, a US-based financial services company, launched Aimee, an AI-driven virtual coach designed to offer personalized financial wellness guidance to employees participating in retirement plans. Developed in partnership with Financial Finesse, a US-based provider of unbiased financial wellness benefits, Aimee uses machine learning to deliver real-time, tailored advice, helping users build short-term financial resilience while focusing on long-term goals. This launch underscores Ascensus's commitment to integrating advanced technology into its services to enhance financial wellness for retirement plan advisors and empower employees to achieve financial security.

In February 2024, Aztec Software LLC, a US-based software company, acquired Financial Fitness Group for an undisclosed amount. This acquisition aims to develop a more comprehensive financial education platform by integrating Financial Fitness Group's interactive financial wellness solutions with iGrad's established educational resources. This merger aligns with their shared mission to enhance financial literacy and wellness across various sectors. Financial Fitness Group is a US-based developer of online tools and software applications focused on financial health.

Major companies operating in the financial wellness software market are Intuit, Voya Financial, Alight Solutions, MoneyLion, PlanSource Holdings, DailyPay, Wealthfront, PayActiv, Tapcheck, Wellable Labs, ZayZoon, BrightPlan, Ramsey Solutions SmartDollar, SmartPath, Aztec Software, Sum180, LearnLux, Savology, Edukate, LearnLux, Your Money Line, Best Money Moves, HoneyBee HR, Enrich Financial Wellness and BrightDime.

This report focuses on financial wellness software market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

Markets Covered:



By Type: On Premise; Cloud-Based; Web-Based

By Application: Small Business; Midsize Enterprise; Large Enterprise; Other Application By End Use: Corporate; Institutional; Government; Other End Uses

Key Companies Mentioned: Intuit Inc.; Voya Financial Inc.; Alight Solutions LLC; MoneyLion Inc.; PlanSource Holdings Inc.

Key Attributes:
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https://menafn.com/1108855944/Financial-Wellness-Software-Market-Report-2024-Featuring-Profiles-Of-Intuit-Voya-Financial-Alight-Solutions-Moneylion-And-Plansource-Holdings
2024-11-06
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(MENAFN - GlobeNewsWire - Nasdaq) Dublin, Nov. 06, 2024 (GLOBE NEWSWIRE) -- The "Financial Wellness Software Market Report 2024" has been added to  ResearchAndMarkets.com's  offering.The financial ...
Financial Wellness Software Market Report 2024, Featuring Profiles Of Intuit, Voya Financial, Alight Solutions, Moneylion And Plansource Holdings