Canadians can now benefit from personalized financial advice provided by an automated virtual assistant, available 24/7
TORONTO, April 22, 2020 /CNW/ - Today, Morneau Shepell, the leading provider of total well-being, mental health and digital mental health services in Canada, launched AvaFinance™, an expansion of the company's intelligent, automated HR assistant, Ava™. By using AvaFinance™, Canadians are able to access personalized recommendations to navigate the financial challenges they face due to COVID-19.
AvaFinance™ was developed in direct response to the financial concerns that are top of mind for Canadians today. Morneau Shepell's Mental Health Index™ revealed that the top concern having an impact on the mental health of Canadians during COVID-19 relates to the financial impact of the pandemic (55 per cent). Meanwhile, 33 per cent of respondents said their top concern is the uncertainty concerning how the virus will impact their family.
Leveraging artificial intelligence (AI), AvaFinance™ responds to users' financial needs and provides guidance on how to manage concerns that are arising as a result of COVID-19, including the pandemic's impact on families and small business owners' finances, temporary or permanent job loss, retirement planning, debt and credit management.
"The financial situation that many Canadians are facing today is one of uncertainty. Already a cause of major concern before the pandemic, worry over finances has increased and risks also affecting Canadians' physical and mental health," said Paula Allen, senior vice president of research, analytics and innovation. "Canadians are resilient and will come out of this situation stronger, if they are provided with the right tools. We are committed to providing the financial guidance and support Canadians need to improve their financial health, both during the pandemic and in the years to come."
AvaFinance™ is offered to Canadians through employers. The solution provides a customized user experience by providing immediate, personalized recommendations. AvaFinance™ is equipped to understand each users' unique concerns and to provide targeted resources that best address their needs including mental health resources for financial stress.
To learn more about AvaFinance™, visit: https://www.morneaushepell.com/ca-en/avafinance
About Morneau Shepell
Morneau Shepell is the leading provider of technology-enabled HR services that deliver an integrated approach to employee well-being through our cloud-based platform. Our focus is providing world-class solutions to our clients to support the mental, physical, social and financial well-being of their people. By improving lives, we improve business. Our approach spans services in employee and family assistance, health and wellness, recognition, pension and benefits administration, retirement consulting, actuarial and investment services. Morneau Shepell employs approximately 6,000 employees who work with some 24,000 client organizations that use our services in 162 countries. Morneau Shepell is a publicly traded company on the Toronto Stock Exchange (TSX: MSI). For more information, visit morneaushepell.com.
SOURCE Morneau Shepell Inc.