"We believe that our arrangement with Benefex, and the creation of a strategic partnership, with a focus on the development of integrated solutions, will provide our clients with a best-in-class technology platform for their employees."
- Gail Izat, Managing Director of Workplace & Retail Intermediary at Standard Life
As part of the deal, Standard Life and Benefex will enter a strategic partnership where the 'flexible' benefits service currently provided to employers by Standard Life will transfer to Benefex's employee benefits platform. Over thirty of Vebnet's corporate customers will transfer to Benefex in the deal, covering more than 140k employees.
“This acquisition demonstrates our focus on growth, both organic and, in this case, through the purchase of Vebnet and its customer community of large global brands. We look forward to enabling these customers to use Benefex technology to power exceptional experiences for their employees," explained Adam Mason, Executive Vice President of Benefex.
He said: “Alongside the acquisition, we're thrilled to announce a strategic partnership with Standard Life. This partnership ensures that Standard Life customers using OneHub will also benefit from an enhanced set of integrations that simplify processing and support employees.”
Gail Izat, Managing Director of Workplace & Retail Intermediary at Standard Life, added: “Employee flexible benefits solutions are increasingly a key differentiator in the workplace market with significant ongoing investment and resources required to meet the expectations of employers and members.
“We believe that our arrangement with Benefex, and the creation of a strategic partnership, with a focus on the development of integrated solutions, will provide our clients with a best-in-class technology platform for their employees, and the capability to future-proof their flexible benefits needs," she concluded.
