On the go: Fintech company Origo is to launch its own pensions dashboard connector in September, giving providers an interface with the dashboards that enables them to respond to user requests and provide pensions data.
The tool will cover three services: “connect”, which links providers to the dashboard’s central architecture; “find”, which responds to members querying whether a company has a policy in their name; and “view”, which makes the necessary data available both to the dashboards and to members themselves.
The Origo Dashboard Connector is billed as a means of allowing schemes to comply with both find and view functionality without going to the expense of upgrading their own technology operations.
The Department for Work and Pensions drew criticism when it announced that find and view functionality should be available at launch because of the significant workload and data challenges that was thought to entail.
The data underpinning the Origo Dashboard Connector will be held on Amazon Web Services. Providers using the tool with the full range of services will only have to update the data available to the Connector, which will otherwise deal with requests automatically and without input from the provider.
Origo chief executive Anthony Rafferty said: “On a phased basis, all pension providers will be required to connect to the pensions dashboards to serve consumers with their individual data on request.
“If companies directly link to the central digital architecture, this could mean they receive millions of requests a year for their already stretched resources as individuals search for their details. For most providers that is a situation to be avoided.”
Rafferty said the Origo Dashboard Connector would take away “the technology and the resource issues for providers”, and help them “deliver on their legislative requirements cheaper, faster and with less risk”.
Hew added that providers believe such a device “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”.
