PTO, Inc., the Company Powering the PTO Exchange Product, Is Rebranding to BNFT to Reflect Its Growing and Evolving Benefits Platform
July 15 2024 - 7:07AM
Business Wire
PTO, Inc., the company revolutionizing the employee benefits
industry, rebrands to BNFT. The new name reflects the company’s
evolving mission and platform—to deliver innovative benefit
solutions that support the whole employee while supporting
bottom-line costs, creating win-win solutions for employees, HR,
and the CFO.
Over the past 11 years, BNFT has not only been the first of its
kind in the convertible PTO space but has also led the category for
flexible benefit offerings. The company is building a better
benefit ecosystem for employers and their employees with its PTO
Exchange and LPA Exchange product offerings, with additional
exchanges to be released in the near future—all powered by one
seamless platform that integrates with payroll systems and
banks.
“As our products, platform, and vision of the company have grown
along with the value we are delivering to our customers and their
employees, the PTO, Inc. name no longer portrays our mission,” said
Rob Whalen, Co-founder & CEO. “Since the beginning, we have
believed that benefits should be flexible, portable, and owned by
the employees who have earned them. As the multi-generational
workforce has grown, so has their diverse needs, reflected in
benefits from student loan assistance, childcare, fertility
support, eldercare, emergency savings, and overall life
planning.”
Companies need to rethink total rewards and go beyond
traditional methods to meet their employees where they’re at. The
sum of the products powered by BNFT will give companies the
flexibility to design cost-effective benefit solutions that support
their employees through their transitions in life. This will
ultimately help companies increase employee engagement and reduce
turnover, as BNFT has already helped reduce turnover across all
industries by an average of 54%.
BNFT works with hundreds of companies in various industries
(including Easterseals, MORC, Makeready, and Griffin Capital) and
has exceeded over 1.4M hours of PTO exchanged on its platform,
equaling $67M. With integration partners like ADP, UKG,
Businessolver, NFP, Transamerica, and many others, BNFT has become
the trusted platform for innovative benefit solutions.
Along with the new company identity and vision, BNFT has come
full circle with the release of its mobile app, which will support
the web platform and all the exchanges. The app is now available on
iOS and Android.
“We’re truly revolutionizing the employee benefits industry and
are excited to continue building out additional exchanges that
provide value to our customers and their employees,” said
Whalen.
ABOUT BNFT
BNFT is a comprehensive benefits platform for employees to
unlock the full flexibility and value of their total rewards while
providing HR teams with a low-cost and easy-to-use tool. PTO
Exchange and LPA Exchange are powered by BNFT, which brings
innovative solutions via one platform. Companies will have the
flexibility to design cost-effective benefits while also empowering
their employees to choose the benefits that support them through
their transitions. BNFT is SOC 2-certified and trusted by Fairway
Mortgage, Howard Brown Health, Agile Defense, UCare, Praxis
Engineering, STRATACACHE, and others.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240715348859/en/
Kristen Grossi talkTECH Kristen@talktechcomm.com