HealthEquity Partners With Microsoft to Fast-Track the Future of Health Benefits Using Cloud Capabilities

Rhea-AI Summary

HealthEquity Collaborates with Microsoft

HealthEquity (NASDAQ: HQY), the largest HSA custodian in the U.S., has announced a strategic collaboration with Microsoft to modernize healthcare benefit administration via Microsoft Azure. This move is part of HealthEquity's cloud-first strategy aimed at simplifying and enhancing technology capabilities for clients and members. The partnership will enable new tools, real-time data access, and improved data security.

By leveraging Azure, HealthEquity will accelerate application development, streamline integration with existing systems, and enhance user experiences, significantly benefiting healthcare management.

Positive

• Strategic collaboration with Microsoft to modernize healthcare benefit administration.
• Investment in Microsoft Azure supports a 'cloud-first' strategy.
• New tools and products will enhance customer experience with real-time data.
• Improved security for data, financial assets, and customer privacy.

Negative

• None.

Collaboration drives digital transformation with Microsoft Azure, build better experiences for customers and employees

DRAPER, Utah, April 04, 2023 (GLOBE NEWSWIRE) -- HealthEquity, Inc. (NASDAQ: HQY) (“HealthEquity”), the nation’s largest health savings account (HSA) custodian, has announced a strategic collaboration with Microsoft to modernize healthcare benefit administration through Microsoft Azure. The company’s investment in Azure furthers the HealthEquity “cloud-first” strategy to unite, simplify and modernize its technology capabilities to support the healthcare needs of clients and members.

“HealthEquity has a rich history for innovating healthcare products and services to benefit Americans. Our collaboration with Microsoft will allow us to continue modernizing and maturing the healthcare benefits industry to make benefits management simple and easy,” said CEO Jon Kessler. “By focusing on cloud transformation, API-first architecture, access management, data unification and better automation, we can ensure more people can connect health and wealth.”

HealthEquity will develop new opportunities that will enable them to pioneer and scale innovative and personalized experiences for their customers, partners, and teammates. This means new tools and products to help them manage their benefits easier, using real-time data with greater flexibility. The HealthEquity transition to the cloud will also further improve their security of data, financial assets, and customer privacy.

“Now, more than ever, consumers expect a simple, seamless technology experience whether at home or at the office,” said Luke Thomas, Head of Banking & Payments at Microsoft. “We’re excited to partner with HealthEquity and harness the power of Microsoft Azure to help transform Americans’ benefits experiences for the better.”

Bringing new capabilities to life for customers with ease

HealthEquity with the ability to develop applications easier and integrate with existing systems seamlessly. Thanks to open source on Azure, HealthEquity development can move more quickly and can be scaled without complex, and time intensive constraints.

With Azure, HealthEquity will be able to solve problems and provide solutions in a wide range of programming languages, frameworks, operating systems, and devices, using tools they know and trust. Faster time to market equals better opportunities to support client's and member's healthcare needs.

“The HealthEquity vision is to connect health and wealth through health saving solutions to fit every client. Partnering with Microsoft will help us deliver our vision and power seamless experiences at every client and member interaction,” said Eli Rosner, HealthEquity Chief Product and Technology Officer.

About HealthEquity
HealthEquity administers health savings accounts (HSAs) and other consumer directed benefits for more than 14 million accounts in partnership with employers, benefits advisors and health and retirement plan providers who share our mission to connect health and wealth and value our culture of remarkable “Purple” service. For more information, visit www.healthequity.com.

Media Contact
Amy Cerny
acerny@healthequity.com
801-508-3237

FAQ

What is the recent collaboration between HQY and Microsoft about?

HealthEquity has partnered with Microsoft to modernize healthcare benefit administration through Microsoft Azure.

How will the Microsoft Azure partnership benefit HealthEquity?

The partnership is expected to simplify technology capabilities, enhance customer experiences, and improve data security.

When was the collaboration between HealthEquity and Microsoft announced?

The collaboration was announced on April 4, 2023.

What technology strategy is HealthEquity pursuing?

HealthEquity is pursuing a 'cloud-first' strategy to modernize its technology capabilities.

What is the stock symbol for HealthEquity?

The stock symbol for HealthEquity is HQY.