San Diego, CA, July 14, 2023 – Foot Locker has teamed up with San Diego-based financial education company iGrad to offer the award-winning Enrich financial wellness platform to 50,000 global employees.
Foot Locker’s Enrich financial wellness program is personalized to each user and localized to each country to reflect cross-cultural differences in financial education and information. The platform is available to Foot Locker employees in countries including the U.S., Canada, Denmark, Spain, Belgium, Japan, Korea, United Kingdom and Australia.
Enrich is one of the only financial wellness programs to offer a global product that allows multinational employers to implement one consistent, highly personalized financial wellness solution for employees in different countries.
The Enrich global program features the Your Money Personality financial behavior assessment that analyzes each user’s financial “personality.” The interactive, mobile-friendly platform also provides:
– Financial education courses with personalized action plans on topics including budgeting, mortgages, healthcare, college savings, student loan repayment, banking, credit, financial planning and more.
– Articles localized to each country
– Interactive tools and analyzers
Financial stress is a global problem. Worldwide, only 28 percent of people feel they are financially able to “cope with the unexpected,” and only one in three has a basic understanding of financial concepts, according to MetLife’s Study of Financial Wellness Across the Globe. In addition, only one in three adults were financially literate.
“Enrich uses an interactive, creative and personalized approach to financial wellness education that is proven to increase engagement, create positive behavior change and lower employee financial stress,” said Sam Evans, iGrad vice president of business development for Enrich. “We are thrilled to partner with Foot Locker to help their employees around the globe.”
Enrich is used by more than 20,000 employers and more than 300 financial institutions nationwide, with artificial intelligence technology that engages each user with the most relevant content based on financial situation and stage of life.
Enrich data from January 2020 to December 2021 found significant increases in financial wellness among its users:
– 35 percent increase in users who reported that they are on track with saving for their goals
– 14 percent increase in users who are contributing to their retirement savings plan
– 59 percent increase in users who had built up an emergency savings of at least three months of living expenses
– 28 percent increase in users who pay off credit card debt in full monthly
The Enrich data showed that users who reported lower financial stress said that decrease was substantial–nearly 32 percent. Nearly 36 percent attributed that reduction in financial stress to using the Enrich platform.
About iGrad iGrad is a San Diego-based financial technology company that provides artificial intelligence-powered financial wellness solutions to more than 2.7 million students at 650 colleges and universities, over 20,000 employers and over 300 financial institutions. iGrad was recently recognized by the Institute for Financial Literacy with the 2023 Excellence in Financial Literacy Education (EIFLE) Adults’ Education Organization of the Year Award. iGrad also received the 2022 Eddy Award for Financial Wellness by Pensions & Investments for its Enrich platform. For more information about the iGrad platform, visit https://www.igradfinancialwellness.com. For more information about the Enrich platform for employers and financial institutions, visit http://www.enrich.org.
iGrad / Enrich Jennifer Wezensky xxx-xxx-xxxx https://www.enrich.org