FinTech Wagestream has acquired pensions technology company Zippen.聽
Wagestream, a provider of solutions for workplace finance and wellbeing, said the move solidifies the evolving role of employers as key providers of financial services in the workplace.
Terms of the deal were not disclosed.
Founded in 2017, Zippen has developed specialist knowledge in defined contribution pensions. It has a deep understanding of the UK pensions landscape, where an estimated 拢31.1bn in pension assets remains unclaimed.
Wagestream鈥檚 own research has shown that low and middle-income workers are disproportionately affected, holding twice as many unclaimed pension pots as the average UK worker.
鈥淲e are in the midst of an evolution in the way financial support is provided to workers,鈥� said Peter Briffett, CEO and co-founder of Wagestream.聽
鈥淭housands of employers are realising that holistic financial wellbeing – from today鈥檚 pay to long-term planning – isn鈥檛 just a perk, but a driver of engagement, loyalty and productivity.聽
鈥淲ith Zippen joining the Wagestream Group, we are strengthening our expertise and furthering our mission to help people take control of their financial lives.鈥�
Zippen鈥檚 co-founders Stuart Feast (pictured) and Ellie Tembras will join the Wagestream Group.
鈥淲e are so excited to be joining the Wagestream team. We have spent the last eight years building deep knowledge of the pensions ecosystem and we look forward to sharing that with a mission-led business that already reaches millions of workers globally,鈥� said Feast.