New myVoyage personalized financial-guidance experience provides easy access to workplace benefits, savings and personal accounts in one application
WINDSOR, Conn.--(BUSINESS WIRE)-- Voya Financial, Inc. (NYSE: VOYA), announced today the launch of myVoyage, a new and first-of-its-kind personalized financial-guidance and connected workplace-benefits digital platform. Offering a “one stop” solution, myVoyage will provide individuals with a complete view of their financial picture, inclusive of workplace benefits and savings accounts along with the integration of external accounts such as personal banking and credit accounts to help better manage one’s health and financial well-being. First launching via mobile app, Voya’s myVoyage digital platform will offer a consolidated view using data-driven insights to provide personalized guidance to help individuals make progress toward achieving their financial goals.
“At Voya, we’ve long recognized the value that workplace benefits and savings provide in helping individuals achieve their broader health and wealth needs. But we also recognize that this is just one part of someone’s financial picture and that integrated and coordinated experiences are becoming increasingly important to be able to support the evolving needs of individuals and their households,” said Heather Lavallee, president and CEO-elect; CEO, Wealth Solutions, for Voya Financial. “As a leader in both workplace savings and benefits, the launch of myVoyage represents the next evolution of our workplace growth strategy leveraging our leading data and digital capabilities along with our expertise across health, wealth and investment solutions. Through this connected experience, we’re making it easier for individuals to optimize their savings potential and put the right protection vehicles in place — ultimately, allowing them to be able to achieve a healthy balance of living for today, preparing for tomorrow and feeling confident about their future.”
myVoyage comes at a time when Voya data has found that more than half (56%) of employed Americans are extremely or very interested in a “one-stop” mobile app that provides a consolidated view across all of their health and financial accounts.1 What’s more, according to Voya’s own retirement plan participant database, there were more than 101 million digital interactions reported in 2021 alone,2 indicating a clear opportunity for greater digital engagement solutions.
Specifically, myVoyage will offer individuals:
- A consolidated account view under one login, inclusive of one’s workplace savings accounts and external accounts — which could include: retirement plans such as 401(k) and non-qualified accounts; health savings accounts; and medical/dental insurance — and the ability to connect outside benefits and accounts such as banking and savings, brokerage accounts, credit cards and loans.
- Holistic financial wellness support, including the opportunity to view where individuals stand across all accounts, set and track goals (such as saving for college or paying off debt) with insights on accounts such as spending limits, savings reminders and deposit summaries — offering support along the way.
- Benefits enrollment guidance leveraging Voya’s myHealth&Wealth experience within the new myVoyage digital platform, including the ability to optimize one’s workplace benefits options and costs as well as receive personalized guidance on savings and coverage based on plans that are most appropriate for an individual’s needs.
- Access to medical claims to track out of pocket expenses and get reminders for preventative care.
- Personalized nudges and actions, including specific steps, tools and resources to help individuals navigate different life stages and events including everything from daily spending to having children or preparing for retirement.
- Professional resources, including the ability to refer individuals to a financial professional for additional personalized advice and guidance.*
Driven by insights derived from behavioral finance research through the Voya Behavioral Finance Institute for Innovation, the launch of myVoyage also builds on Voya’s recent introduction of its myHealth&Wealth integrated and holistic benefits selection experience — which offers personalized digital guidance to help employees optimize their household spending across health insurance benefits, emergency savings and saving for retirement. Providing an integrated platform that not only helps individuals make benefits decisions, myVoyage will offer the next evolution to manage those benefits and individuals’ finances throughout the year.
“When enrolling in their workplace benefits and throughout the year, we often find there is a disconnect for individuals when it comes to both their workplace benefits and savings decisions. This is why at Voya, our personalized digital-guidance experiences are designed to help employees make more-informed decisions with a synchronized view of their whole financial life,” said Rob Grubka, CEO, Health Solutions, Voya Financial. “The launch of myVoyage will allow us to truly evolve how we support individuals by making it easier to both choose and use their benefits through an integrated and hyper-personalized experience. From setting emergency savings goals to tracking health care spending and receiving insights on how to take full advantage of the benefits they’ve enrolled in; myVoyage will enable individuals to make more-informed decisions with their complete financial picture in mind. By looking holistically across benefits, we can help employees better utilize their benefits and save more effectively today to better improve confidence in their future.”
“By helping individuals take charge of their health and financial well-being, we believe we can help provide a greater opportunity for more-improved outcomes,” added Lavallee. “It’s this focus that has allowed Voya to stand apart as a company that meets the needs of all our customers — and we believe this is where the industry needs to head as well.”
To learn more, watch this brief myVoyage demo video. myVoyage was recently made available to Voya’s own employees and will be available to Voya’s workplace clients and customers next year. Those interested in receiving a demo of myVoyage, should contact their Voya representative.
The launch of myVoyage highlights the latest example of Voya’s focus and investment on providing digital solutions to enable actions that will help achieve positive outcomes. Most recently the firm has launched its myHealth&Wealth holistic benefits selection experience; enhancements to Voya’s mobile app; emergency savings solutions; budget calculator and the Voya Learn digital educational platform, offering live and on-demand sessions on a variety of holistic planning topics, with more innovations rolling out in the remainder of 2022.
As an industry leader focused on the delivery of workplace benefits as well as savings and investment solutions to and through the workplace, Voya Financial is committed to delivering on its mission to make a secure financial future possible for all Americans — one person, one family, one institution at a time.
1. Results of an Ipsos survey conducted March 29-30, 2022, on the Ipsos eNation omnibus online platform among 1,000 adults aged 18+ in the U.S., featuring 520 working Americans.
2. Voya internal data, as of Dec. 31, 2021.
*Financial professionals are investment advisor representatives and/or registered representatives of, and securities and investment advisory services are offered through Voya Financial Advisors, Inc. (member SIPC). Investment advisory services are only offered through investment advisor representatives of Voya Financial Advisors.
About Voya Financial®
Voya Financial, Inc. (NYSE: VOYA), is a leading health, wealth and investment company that provides products, solutions and technologies that enable a better financial future for its clients, customers and society. Serving the needs of 14.3 million individual, workplace and institutional clients, Voya has approximately 6,000 employees and had $644 billion in total assets under management and administration as of June 30, 2022. Certified as a “Great Place to Work” by the Great Place to Work® Institute, Voya is purpose-driven and is equally committed to conducting business in a way that is socially, environmentally, economically and ethically responsible. Voya has earned recognition as: one of the World’s Most Ethical Companies® by the Ethisphere Institute; a member of the Bloomberg Gender-Equality Index; and a “Best Place to Work for Disability Inclusion” on the Disability Equality Index. For more information, visit voya.com. Follow Voya Financial on Facebook, LinkedIn and Twitter @Voya.
Voya Financial and its affiliated companies (collectively, “Voya”) is making available to you the myHealth&Wealth tool offered by SAVVI Financial LLC. (“SAVVI”). Voya has a financial ownership interest in and business relationships with SAVVI that create an incentive for Voya to promote SAVVI’s products and services and for SAVVI to promote Voya’s products and services. Please access and read SAVVI’s Firm Brochure: https://www.savvifi.com/legal/form-adv. It contains general information about SAVVI’s business, including conflicts of interest.
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Source: Voya Financial, Inc.