Overview
What is the EQ Share Plans App?
Mobile usage has been on the rise and smart phones are now common place among workforces, with the average individual on their mobile device 4.48 hours every day. For this reason, Equiniti has invested in and built a proprietary mobile application. The app’s slick user interface and biometric login features make it easier than ever for employees to join, monitor and transact on their employee share schemes. The app can be EQ branded or branded per your corporate guidelines.
Functionality
What products/features does the app currently cover?
Currently employees can view holdings in the following plan types:
- UK SIP
- UK SAYE
- INTL SAYE
- Executive Schemes
- Corporate Sponsored Nominee
- Global Nominee
- Certificated holdings
Join/alter/cancel contributions in the following schemes:
- UK SIP
- UK SAYE
Exercise SAYE options and:
- Sell
- Transfer to certificate
- Transfer to CSN
We have an agile approach to developing the application and will be adding more products and features.
Will the app issue reminders?
Yes, push notifications can be used to raise awareness. We see these best being used during offer periods or to flag when an employee needs to take action, but we are happy to work with you in how these are used.
How does the app remain in sync with the ESP Portal?
All transactions on the ESP Portal and the app are in real time and are reflected on both applications instantaneously.
Security and registration
What Security features and credentials does the app use?
Once the user has registered, the app allows users to set a PIN code and enable facial recognition or thumbprint biometrics as their preferred login method. We believe ease of login will increase employee engagement.
Do you have to sign up to the app with a work email address or can you sign up with a personal email?
You can use either a work or personal email address however, if you register using a personal email address your activation code will be sent via postal mail to your registered address.
Do I need to register for the portal before I can register for the app?
No. Employees can register directly using the EQ Share Plan App, which we see as a major benefit and can enable you to engage with those harder to reach employees.
Development / maintenance
When will other products/features be covered e.g., Discretionary?
The app is proprietary technology, meaning we are in control of how, when and what is developed.
High level development items include:
- SIP Sales – Q3 2023
- Discretionary Schemes – Q4 2023
- SAYE maturity keep choices (ISA, Spouse, Global Nominee) – 2024
- International Schemes – 2024
Is the app UK specific or can it support global share plans.
Currently UK only but looking to develop global capability & languages in 2024, per the above development roadmap.
Will all future development be included in the cost?
Yes, we are committed to developing and maintaining the app.
How will clients and participants be informed of app improvements/product rollout?
We will provide periodic communications to clients outlining feature enhancements within the application. Participants will receive notifications within the application itself.
Implementation
How long does the app implementation take?
Approximately 8 weeks from signing the side letter to your contract.
How does the implementation work?
Having confirmed you would like to go live with the EQ Share Plans App and signed the side letter, the team will begin the implementation process. This process consists of technical configuration, business acceptance testing, and functional testing.
Register your interest
Register your interest
If you would like to offer the mobile application to your employees, register your interest here and we will be in touch to discuss this with you.