Moneyhub, the award-winning Open Data platform and alpha partner to the Pensions Dashboards Programme (PDP) launched its alpha sandbox to show how pensions dashboards could potentially work from end-user and technical perspectives. Moneyhub launched the sandbox due to high demand from pension providers, master trusts, and employee benefits consultancies.
Starting in April 2023, it will be mandatory for pension providers to make their data available to dashboards, but they can choose whether to provide a dashboard themselves.
Since the Programme is already in its alpha build and test phase, many organisations have started to consider offering their customers a dashboard service and, if so, what their options are for doing that.
Dashboards will revolutionise pension data providers’ customer service. They will enable savers to securely search for all their pensions, and show them an indication of their total pension position. Moneyhub is building a dashboard service that, in addition, allows savers to export their data and take whatever next steps are right for them.
Moneyhub’s dashboard can be customised and fully integrated with clients’ existing platforms, apps and tools. Alternatively, clients can use Moneyhub’s Open Finance APIs and build their own front-end solution.
A further element is access to Moneyhub’s Open Finance ecosystem. After using a dashboard, customers will see their pensions within the wider context of all of their financial assets including investments, savings, property, mortgages, and more.
Moneyhub is actively collaborating in the PDP alpha phase running through to the summer of 2022. Meanwhile, organisations can consider their options by working with Moneyhub or exploring the Moneyhub alpha sandbox.
Dave Tonge, Chief Technology Officer at Moneyhub said: “To support organisations in understanding how pensions dashboards could work for them, from both end-user and technical perspectives, we’ve launched a public alpha sandbox. As well as learning about the Moneyhub solution, the sandbox will help organisations comply with and benefit from pensions dashboards.
“Providers are considering how to address this opportunity, with already stretched technology teams. Licencing Moneyhub’s solutions could enable them to easily offer their customers a dashboard.”