Founded in 2005, LifeCents focuses on offering businesses and third-party administrations (TPA), namely 401k service providers, a solution that promises a holistic, gamified, and humanistic approach to managing an individual’s finances. “With our engaging LifeCents platform, we are able to leverage consumer engagement data to build customer profiles that organizations can use in a myriad of ways,” expresses Blake Allison, founder and CEO of LifeCents. Having passionately studied the world of finance for the better part of his life, Allison has spent his professional career working in banking and finance companies, while also offering consultative services for organizations and individuals alike internationally. His insights, gathered from decades of travels and experiences, highlight the lack of education people received concerning their welfare, where consumers did not recognize the many better financial choices available to them. This struck a chord in him and led him to devise the LifeCents platform. Now, with the proprietary, AI-based solution, the company seeks to improve the financial knowledge of consumers with a user interface that is interactive and brings about a positive behavioral change concerning monetary decision making.
“In an organizational setting, LifeCents is highly personalized for the employee and scalable for the employer, ensuring the best monetary outcomes. A financially healthy worker is proven to be more productive, which directly improves enterprise-wide engagement,” explains Allison.
To further elaborate on the LifeCents platform and its capabilities, Allison shares the story of a client—a leading insurance company in the U.S.—that wanted to increase the number of customers they attracted via open enrollment. LifeCents collected all relevant data sets from interested customers and configured the platform to align with the benefits and services desired by them. “When a new customer registers and logs in via LifeCents, we start building their profile by asking necessary, daily living-oriented questions that are relevant to the benefits being offered by the insurance company,” adds Allison. After implementing LifeCent’s solution into their daily workflow, the client found it easier to understand their customers and offer financial services and guidance that was best suited for them.
In an organizational setting, LifeCents is highly personalized for the employee and scalable for the employer to ensure the best monetary outcomes
LifeCents, as a company and a platform, is set to revolutionize the way finance is understood today. Moving forward, Allison and his team of highly experienced financial professionals intend to portray their commitment toward economic well-being through continuous research and development of solutions and services. The future for Americans—especially after the unfortunate events following COVID-19—seems much brighter with LifeCents’ financial aid, and clients can feel safer about their investments in the long run.