External account balances can now be viewed through My AMP
Enhanced capabilities mean your employees can now see AMP and non-AMP account balances whenever they login.
New functionality has been introduced to My AMP, giving your employees a 360 degree view of their net wealth via one secure login.
These updates now enable, your staff to view their accounts held within AMP, as well as those held with other financial institutions via the My AMP account aggregation service.
How does it work?
To date, My AMP has provided your employees with online access to their banking, super, insurance and investments held within AMP, via their desktop, tablet or mobile.
Recent changes, mean that now when they login to My AMP, they will have the added option to enter login details for accounts held outside of AMP, so in future they can see the balances of all their accounts, all in the one place.
While employees can view external data, they can’t move or remove any money from accounts held outside of AMP. They will only be able to make AMP account transactions.
What are the benefits?
These capabilities will help your employees to simplify their finances by providing them with an accurate and real-time view of their assets, liabilities and cash flow within the one secure environment.
The service will provide them with a fast and easy way to engage in their whole financial situation.
How secure is it?
My AMP has partnered with Yodlee—a global leader in banking technology, with over 30 million users worldwide—which manages the connection with any outside financial groups employees nominate.
Many of Australia's leading financial institutions use Yodlee technology to deliver online services because of its exceptional credentials in bank-level security.
When employees enter their account login details, Yodlee communicates with their external account provider and delivers their data to AMP, omitting any account or credit card numbers.
There is nothing more important than keeping your employees' money secure. No external money can be moved and neither can account numbers be seen.
How can employees set themselves up?
This functionality is available now. All employees need to do is login to My AMP and click on the ‘Manage non-AMP Accounts’ tab to get started.
They will be able to add relevant details so that any external account balances they wish to view in the one place can be displayed.
You can encourage your employees to check out the new functionality today by jumping on to My AMP or by registering.
For more information
Please contact your Account Manager or AMP Representative if you want to know more about My AMP.