MassMutual’s RetireSMART App Supports Facial Recognition

MassMutual is now allowing Apple iPhone X users to employ facial recognition as a secure password to information about their 401(k)s and other defined contribution savings plans when using the insurer’s RetireSMARTS app.


“In today’s mobile world, smartphone users want to apply the latest technology to everything in their lives, including their retirement savings. MassMutual is pleased to allow facial recognition for iPhone X users who already rely on the technology as part of a package of enhancements for our RetireSMART mobile app” – Leader of MassMutual’s Investment Solutions Innovation, Tina Wilson.


The RetireSMART mobile app dashboard has also been updated for both Apple and Android smartphones, providing users with more information than ever to better manage their retirement savings. The new information includes retirement savings balances based on the “as of date” for one, seven, 30 and 90 days; rates of return based on year-to-date contributions by the saver or by employers that provide matching contributions; and retirement savings broken out by assets, including cash, stocks, bonds and overall asset allocation.


RetireSMART app users already could use their smartphones to change how much they automatically contribute to their retirement plan each pay period as well as access information about their total account balance, balances by source and investment, vested balance by source, last contribution amount, asset allocation by investment and their personal rate of return. In addition, smartphone users who use their thumb print as a secure password to access their smartphones can do the same to connect with their RetireSMART app.


“Customer security has always been a top priority at MassMutual. Biometric authentication using facial recognition or fingerprint scanning offer a balanced solution in keeping customers information secure while offering them convenient access to their accounts. Our goal is to stay ahead of the curve by continually integrating these latest security patterns in our mobile apps” – Head of Mobile Technology in MassMutual’s Customer Experience group, Durga Nagalla.


Oh well, this just came in: