Paychex and SoFi team up on financial wellness tools

July 17, 2025

Paychex has partnered with SoFi at Work to bring a new suite of financial wellness tools to its Paychex Flex® Perks users.

The collaboration will enable employees of Paychex clients to access SoFi’s personal finance services—such as student loan refinancing, personal loans, and other financial planning tools—directly through the Paychex Flex digital benefits marketplace.

The integration aims to address a pressing need in the workforce: accessible and personalised financial support. According to new research from SoFi, a significant number of student loan borrowers regret not seeking financial advice, with 44% citing home ownership and 41% citing becoming debt-free as key financial goals.

Paychex vice president of corporate strategy, business development, and investor relations Cory Mau said, “Employees today expect their employer to help support their financial well-being – it’s no longer a ‘nice-to-have’ benefit.

“Businesses that provide access to financial wellness benefits often increase employee productivity, recruit and retain talent more effectively, and ultimately drive positive business outcomes. We are pleased to announce our Paychex Flex Perks partnership with SoFi to provide access to personal finance benefits for employees of our clients at no cost to the employer to help their employees prepare for the future.”

Employees can now access SoFi tools through Paychex Flex Perks, a feature embedded in Paychex Flex, the company’s cloud-based HCM SaaS platform. The programme allows staff to tailor their benefits according to personal needs and fund them via payroll deduction, without requiring any financial contribution from their employer.

The offering is designed to be flexible and inclusive, empowering businesses of all sizes to provide attractive, enterprise-level benefits. Whether used to complement an existing benefits package or as a company’s first foray into employee perks, the platform supports the unique needs of a multigenerational workforce. Since launching in mid-2024, over 230,000 employees have purchased at least one benefit through the Paychex Flex Perks marketplace.

SoFi executive vice president for spend, invest, protect, and save Kelli Keough said, “Our partnership with Paychex marks a major milestone in SoFi at Work’s mission to help more Americans achieve financial independence.

“Financial tools and top-tier benefits should be available to everyone, not just employees of large companies. That’s why we’re partnering with Paychex, to make it easier for companies of all sizes, to support their workforce with meaningful and actionable benefits. Embedding SoFi’s financial well-being tools directly into Paychex will help millions of users nationwide take more control of their financial futures.”