Enhancing the Digital 401(k) Experience
Cantina teamed up with Charles Schwab to design an interactive retirement planning tool to help educate and motivate 401(k) plan participants to better prepare for retirement.
Retirement plan advisors and record-keeping providers are charged with helping plan sponsors better understand the value of their plan and drive results for their participants. Paramount to that process is educating plan participants on their retirement income needs, and where appropriate, motivating them to take actionable steps to invest in and prepare for their retirement. With that in mind, Charles Schwab Retirement Technologies (Schwab RT) was looking for a long-term partner with experience in designing people-focused financial tools to help them deliver on two key components:
Enhancing the 401(k) experience with a peer comparison tool encourages people to plan for their golden years.
Participants will typically sign on to their account for a number of reasons: to check their balance, confirm their contribution rate, make changes to their plan, update their income or future assets, and more. The interface should enable all of these tasks while surfacing key data points to inform the participant and facilitate their planning. Further, the experience should also provide compelling incentives to advance them closer to their retirement income goals.
The landing page design for Schwab RT’s participant experience addresses a number of these important tasks, called out in the design snapshot below:
In an effort to strengthen its offering and differentiate Schwab from its competitors, Schwab RT undertook this important initiative to enhance the 401(k) participant experience with a goal of capturing additional 401(k) plans, and helping 401(k) participants to make more informed decisions and save more for retirement.
If you are interested in learning more about this engagement or how Cantina can help you with a project contact us today. We'd love to help.
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