Alexa-enabled devices that also have a built-indisplay capability such as Echo Show will be able to show onscreeninformation to retirement plan participants. (Photo:Shutterstock)
Just ask Alexa.
|That's what John Hancock Retirement Plan Services is hopingplan participants will do now that it's addedparticipant access to personalized information, includingfrequently-asked account queries, through Amazon Alexa-enabled devices.
|By saying, “Alexa, open John Hancock,” and then providing a“secure and personalized voice code,” participants will be able toask for information on account and loan balances, fund allocations,personal rates of return and contact information for the plan,among other things.
|In addition, Alexa-enabled devices that also have a built-indisplay capability such as Echo Show will be able to showparticipants information onscreen.
|“Our goal is to make it easier for people in our plans to savemore for retirement, and to do that we want to provide the personalinformation they need in the ways they want to receive it,” PatrickMurphy, president and CEO of John Hancock Retirement Plan Services,is quoted saying in a statement.
|Murphy adds, “With the growth in voice-enabled technology, we'repleased to offer services which provide quick, secure access toimportant account information.”
|Participants concerned about security are advised that a rangeof safety measures are incorporated into the system to protecttheir data. Multifactor authentication verifies a participant'sidentity during account linking.
|In addition, participants must set up a secure voice code whenthey first enable the skill in the Alexa app, and recite itcorrectly before getting access to any account information.
|No participant account information is recorded or maintained ontheir Alexa-enabled device or in the hardware servers storing theirAmazon account.
|Murphy continues, “Technology evolves so quickly and whether ornot Alexa becomes the method of choice for participants to securelyobtain account information, it is a valuable tool for learning whathelps our customers take action when it comes to theirretirements.”
|READ MORE:
|9 ways to help 401(k) participants savemore
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