Paychex and SoFi Team Up for Employee Financial Wellness

SoFi and Paychex have partnered to integrate SoFi's financial wellness tools into Paychex Flex Perks. The deal gives employees access to personal finance resources like student loan refinancing, personal loans, and financial planning. Paychex Flex Perks has seen over 230,000 employees purchase benefits since its launch in 2024, and the addition of SoFi's services is expected to boost engagement further. The partnership expands SoFi's reach to millions of employees across 740,000+ small and mid-sized businesses.

Paychex, Inc. and SoFi Technologies have announced a strategic partnership to integrate SoFi's financial wellness tools into Paychex Flex Perks. This collaboration aims to provide employees with access to essential personal finance resources, including student loan refinancing, personal loans, and financial planning services.

The partnership leverages Paychex's digital marketplace of curated employee benefits, Paychex Flex Perks, to offer SoFi's solutions seamlessly. This integration is expected to enhance employee engagement and financial well-being, as seen in the 230,000+ employees who have already purchased benefits since the launch of Paychex Flex Perks in 2024 [1].

SoFi's financial wellness platform, SoFi at Work, is designed to support employees in achieving financial independence. The partnership with Paychex expands SoFi's reach to millions of employees across 740,000+ small and mid-sized businesses, making top-tier financial benefits more accessible [2].

Cory Mau, Paychex's vice president of corporate strategy, business development, and investor relations, emphasized the importance of financial wellness benefits in today's workforce: "Employees today expect their employer to help support their financial well-being – it’s no longer a ‘nice-to-have’ benefit." Mau added that businesses providing access to financial wellness benefits often increase employee productivity, recruit and retain talent more effectively, and drive positive business outcomes [1].

Kelli Keough, EVP for Spend, Invest, Protect, and Save at SoFi, stated: "Our partnership with Paychex marks a major milestone in SoFi at Work’s mission to help more Americans achieve financial independence. Financial tools and top-tier benefits should be available to everyone, not just employees of large companies" [1].

The partnership underscores the growing importance of financial wellness in employee benefits. By integrating SoFi's financial wellness tools into Paychex Flex Perks, employers can offer enterprise-level benefits at no cost to them, addressing the diverse needs of today's five generational workforce [1].

Paychex will continue to expand the offerings within Paychex Flex Perks based on evolving trends and customer feedback. To learn more about Paychex Flex Perks, visit [go.paychex.com/perks] [1].

References:
[1] https://www.paychex.com/newsroom/news-releases/paychex-partnership-with-sofi-at-work
[2] https://www.businesswire.com/news/home/20250717353048/en/Paychex-and-SoFi-at-Work-Join-Forces-to-Expand-Financial-Well-being-Offerings