5 days ago
Wagestream buys pension tech provider Zippen
UK workplace finance and wellbeing app Wagestream has bought pensions technology company Zippen. Financial terms were not disclosed.
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Launched in 2018, Wagestream enables three million people - mainly shift and frontline workers - in the UK, Europe and the US to access an interactive payslip, choose when to get paid, save for a rainy day, save money on bills and get debt advice.
By acquiring Zippen, which helps people take control of their pensions and plan for retirement, Wagestream is adding another product to its offering.
Zippen's understanding of the UK pensions landscape - where an estimated £31.1 billion in pension assets remains unclaimed - makes it a valuable addition, says Wagestream, because low and middle-income employees hold twice as many unclaimed pension pots as the average UK worker.
Peter Briffett, CEO, Wagestream, says: 'We are in the midst of an evolution in the way financial support is provided to workers. Thousands of employers are realising that holistic financial wellbeing - from today's pay to long-term planning - isn't just a perk, but a driver of engagement, loyalty and productivity.
"With Zippen joining the Wagestream Group, we are strengthening our expertise and furthering our mission to help people take control of their financial lives.'
