New Pension Technology Integration

Integrating a new self-invested personal pension (pillar 3) and technology for a top 3 UK pension provider.

The Challenge

Our client was a top-three UK and international self-invested personal pension (SIPP) provider.

Our client decided to refresh its overall retail savings, investment and pension technology with a range of new products and a new front-end solution for product and advice distribution.

The client had a problem in that it didn’t have sufficient in-house SIPP knowledge and expertise (having previously sold pensions as bundled insurance policies) and asked for our help to develop the new solutions.

Our Move

Together with the client, we embarked on a process of knowledge discovery.

This used a range of requirements-gathering exercises to understand our client’s pension technology needs and wants.

Requirements were taken from internal stakeholders such as operations, sales, advice, legal & compliance etc.

Requirements were also taken from customers such as independent financial advisers, who distribute our client’s pension products.

Based on the requirements, we assisted the client in designing and devising a new set of architectural and software engineering documents.

These documents would support the new pensions technology that was required and the distribution of the client’s pension products.

The client decided to proceed with our recommended pension technology specifications and designs.

The client successfully built and launched its new SIPP product to advisers (the distributors).

The Result

Our client was satisfied with the new pension product and the pension technology design that underpinned it.

The client’s new SIPP product went on to become a significant ‘best seller’ in the client’s overall pension product range.