The industry-backed fintech company Origo is planning to launch a Pensions Dashboard connector tool in the autumn to enable providers to connect more efficiently to the planned Pensions Dashboards.
The Origo Dashboard Connector is due to go live in September and will provide a “cost-effective” way for pensions providers to connect to the government’s Pensions Dashboards which are now in development.
The government-backed Pensions Dashboard tool is designed to give consumers access to all their pensions and retirement plans in one location online. It is due for a phased launch over the next few years but has yet to go live and has been beset by delays.
Origo is an industry-based fintech company which aims to connect providers and make the transfer of investments between providers easier.
The new Origo Connector will provide pensions providers with an interface connection to the Pensions Dashboards, enabling them to respond quickly to consumers’ pension data requests at any time.
The Origo Dashboard Connector provides three types of service. The first, Connect, links pension providers to the Pensions Dashboard central digital architecture.
The second, Find, responds to a pension saver’s request to know if a company has a plan in their name. Using the Find service means that pension providers do not have to scale up their technology operations to handle potentially millions of policyholder finds and matches, Origo says.
The third element is View which holds pension data needed to fulfil a saver’s request and makes it available to the dashboard and the saver. As with the Find service, the pensions data that underpins the View service is also held and managed securely in Amazon’s AWS, Origo says.
With the full service, when a request comes in, the Origo Dashboard Connector will deal with it in full without any input from the provider.
Anthony Rafferty, CEO Origo, said: “As a complete service, the Origo Dashboard Connector takes away the technology and the resource issues for providers and helps them deliver on their legislative requirements cheaper, faster and with less risk.
“Not surprisingly, the many providers we have spoken to want to connect via an interface connector, as it makes sense from a business perspective, with most opting for the full-service option because of its full functionality, which helps reduce their time and resource costs.”
