We’ve recently improved My AMP with new capabilities which, by helping them understand how they spend their money, could help set your employees on the path to achieving their financial goals in 2017.
Once logged in to My AMP, it only takes a few short steps before your employees can have visibility of their balances and transactions from over 200 financial institutions.
Within My AMP your Employees will also have access to Money Manager. This free service provides access to personalised reporting and graphs of spending, saving and cash flow, helping your employees to manage their finances.
What your employees can do with My AMP's new features
- Get a view of their finances – view their bank, credit card, loans, super and investment accounts from over 200 financial institutions in one place.
- Track their spending – Money Manager will automatically categorise their transactions into bills, utilities, entertainment, health and so on to see where their money goes.
- Access reports – view personalised reports and graphs of their spending, savings and cash flow.
- Get help achieving their goals – employees can start getting serious about saving for holidays, a home or their future by understanding their finances.
Helping your employees reduce their financial stress
Research conducted by AMP found that 24% of employed Australians are financially stressed, costing their employers an estimated $47.2 billion a year in lost revenue through absenteeism and being distracted at work.
Not being able to pay bills or make desired purchases, as well as the responsibility of supporting a family, were identified as key triggers of stress.
Helping your employees to reduce their financial stress, by learning to set clear and achievable goals, for example, could help them to achieve financial wellness. This could also help reduce workplace costs associated with financial stress and improve your organisation’s productivity.
How safe is the service to use?
We take security seriously. Like many of Australia's leading financial institutions, AMP uses Yodlee to manage connections with financial institutions because of its exceptional credentials in bank-level security.
Only balance and transaction data will be visible in My AMP, login details and account numbers are omitted and no transactions using non-AMP accounts can be made.
How employees can get started
It only takes three easy steps:
- Login or register for My AMP through the AMP website, amp.com.au.
- Choose ‘manage non-AMP accounts’ and follow the prompts to link your non-AMP accounts.
- Once complete, employees will be able to see balances across all their accounts in the My Wealth dashboard and will be able to access transactions and Money Manager through the 'Manage non-AMP accounts' tab.
Want to know more?
Read more or watch a video about this new service or ask your business relationship manager for more information.