Upgrades Unveiled by Schwab Stock Plan Services

An enhanced mobile app and “advanced biometric account access” are among the new features being touted by Schwab Stock Plan Services. 

The increasing globalization and technological advancement of the financial services industry is necessitating advances in mobile, security and support, says Schwab Stock Plan Services.

To meet new challenges, the firm is has unveiled a series of initiatives to help employees who receive equity compensation digitally monitor and manage their benefits, starting with an enhanced mobile application for use across Apple, Android and Amazon products.

The app “provides detailed account summary and balance information along with the ability to review vesting details and track purchased, exercised or unexercised shares. Trading capabilities will be incorporated within the next year.” Similar functionality is being rolled into the mobile web experience as well, the firm says.

Additionally, Schwab Stock Plan Services has also launched Voice ID, which uses “advanced voice biometrics technology to allow individuals to authenticate their identity with their unique voiceprint in Schwab’s automated phone system.” According to the firm, this can eliminate the need for personal identification numbers and other common personal security questions.

“This new option is one of the fastest and most convenient ways to securely authenticate over the phone,” adds Marc McDonough, vice president of Schwab Stock Plan Services. “Once enrolled in Voice ID, participants can be authenticated just by repeating one simple phrase: “At Schwab, my voice is my password.”

Finally, the firm is also touting expanded service access: “Investments in expanded service channels have improved access and service support for participants. Live web chat was launched earlier this year and continues to be adopted by clients.”

More information is online here