Financial wellness software has helped millions of consumers, as well as businesses, manage their finances. In the following report, you'll learn more about the global financial wellness software market and where it's headed.
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Also known as financial well-being software, financial wellness software consists of apps, programs and other software that help consumers and businesses manage their finances.
Statistics show that over two in three consumers save less than 10% of their income. As a result, millions of people have little or no money in savings. When an emergency arises, they may not be able to afford it. Many economists believe the poor savings habits of consumers has played an important role in rising debt. Thankfully, financial wellness software is available to help consumers, as well as businesses, manage their finances.
While features vary, most types of financial wellness software include income and expense tracking. In other words, they can track a person's or business's incoming money as well as their outgoing money.
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The first step to improving a consumer's or business's finances is tracking income and expenses. Neglecting to track these financial metrics may result in monies being overlooked. A consumer, for instance, may unknowingly spend an excessive amount of money on an unnecessary service. Using financial wellness software, however, he or she can identify expenses such as these. The consumer can then cancel the unnecessary service to save money.
Financial wellness software may also support bank integration. In other words, consumers and businesses can connect the software to their bank accounts. Once connected, the financial wellness software will reveal the details of the consumer's or business's bank accounts.
The Financial Wellness Software Market to 2027 report by The Insight Partners is a comprehensive study of the global financial wellness software market. This report analyzes the financial wellness software market from all angles. Whether you work in the financial wellness software market, have a professional stake in the market, or if you simply use financial wellness software, you should consider buying this report. It's one of the most complete and detailed studies of the market.
Some of the key financial wellness software vendors profiled in this report include Best Money Moves, DHS Group, Edukate, Enrich, Health Advocate, Holberg Financial, Integrity Data, Inc., Questis, Sum180 and Workplace, Inc. The report further segments the market by deployment model. enterprise size, end user and geography. On the basis of deployment, the market is segmented into cloud and on-premise. On the basis of enterprise size, the market is segmented into small and medium enterprises. On the basis of end user, the market is segmented into corporate, government, institutional and others.