Origo will be launching the Origo Dashboard Connector, a tool allowing pensions providers to connect to the pensions dashboard which will go live in September 2022.
The Connector gives pensions providers access to the dashboard, allowing them to promptly respond to consumer requests for pension data and offer pensions data.
Three different services are offered by the Origo Dashboard Connector. The first option, Connect, safely and legally connects a pension provider to the central digital architecture of the pensions dashboard.
The second, called Find, responds to a person’s inquiry about whether a company has a policy in their name. This can be altered to suit the unique data matching preferences of each supplier. According to Origo, by utilising the Find service, pension companies can avoid having to expand their technological infrastructure in order to handle potentially millions of policyholder finds and matches.
Limited policyholder data is stored on Amazon Web Services (AWS) for the Find service, and security measures are in place to protect it. The Find service examines a pension provider’s data after receiving a request via the dashboard to see if any records match.
The service’s third and last component, View, stores all the pension information required to fully satisfy a request and makes it accessible to the dashboard. The pensions data that underpins the View service is also housed and managed securely on AWS.
Providers have a few options, including adding the Find service, the Find and View services, or just connecting to the pensions dashboard. When a request is received with the complete service, the Origo Dashboard Connector will handle it entirely without any help from the provider. The sole requirement is that the pension provider keeps the Connector’s data up to date on a regular basis.
Origo CEO Anthony Rafferty says: “On a phased basis, all pension providers will be required to connect to the pensions dashboard 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.
“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.
“Origo’s mission is to help connect the financial services marketplace for the benefit of everyone, so we are delighted to be able to use our expertise and experience in the market to deliver this service for pension providers.”