iJoin Leverages Coherent’s Retirement Savers Product Innovation Tool
LDI-MAP (doing business as iJoin) announced that it has selected Coherent, a global software-as-a-service company, to help provide personalized options for retirement savers and enable better outcomes through product innovation. faster.
Coherent Spark converts business logic, including rules, calculations, and data, from any spreadsheet into an application programming interface, which can then connect to any application. This allows business and IT teams to work together to bring products to market and innovate their offerings at a faster pace.
With Spark, iJoin’s product team can create actuarial models for a range of managed accounts and guaranteed income products in spreadsheets, then instantly convert the logic into ready-to-integrate APIs without the need for manual coding. . iJoin’s actuarial team also uses Spark for robust and fast testing within the platform, which dramatically shortens the product development cycle. Coherent Spark also includes all the security, compliance, and auditing features needed to meet the stringent requirements of iJoin’s insurance industry partners.
Purchasing Power Launches Financial Wellness Services
Purchasing Power, a voluntary benefits company, announced a suite of financial wellness services designed to provide its customers’ employees with increased financial support. These services complement Purchasing Power’s employee purchasing program by enabling access to highly actionable and timely financial wellness benefits through partnerships.
Access to financial health resources made available by SpringFour, a Chicago-based social impact fintech company. This service allows consumers to find approved local non-profit resources that can help them with some of their immediate financial challenges, including child care, utility costs and food savings. It is provided free of charge to purchasing power customers and customer employees.
Live financial counseling and coaching is provided by Working Credit NFP, a national nonprofit also based in Chicago. The program is designed to help consumers receive personalized advice to improve and grow their credit. Counselors work with employees one-on-one via Zoom to help them understand how the credit system works and create a personalized credit action plan to help them not only build and maintain a strong credit score, but also help them achieve their financial goals. Purchasing Power will provide financial coaching to employees of select customers.
With the addition of Working Credit NFP, employees will have access to credit building workshops and 12 months of unlimited one-on-one credit building counselling. They will have the opportunity to create a personalized credit action plan that includes setting financial goals, progress checkpoints, budget support, and tips for building credit.