● Part of plans to accelerate Pensions Dashboards Programme (PDP) adoption
● Demo takes place at the PASA annual conference this week (w.c. 1st May)

London, 2nd May 2023: Financial technology provider, Bravura, and Moneyhub, the award-winning data and payments platform built on the principles of Open Banking and Open Finance, are joining forces to demonstrate their end-to-end connected pensions dashboards technologies to delegates at the PASA Annual Conference today (2 May).

In what is believed to be a UK-first, Bravura’s ISP (Integrated Service Provider) microservice, Dashboards Connect, will connect and interact with Moneyhub’s front-end commercial Pensions Dashboard Service (PDS). Together, these will Find and View live pensions data, showcasing for the very first time a fully operational front- and back-end pensions dashboard that demonstrates how a saver will be able to use a commercial pension dashboard to find and view their pensions.

The pensions dashboard demo will be presented during a live panel session ‘Data & Dashboards: Found, Viewed & Queried’ at 15:25 – 16:25. The panel will consist of a data provider, a dashboard provider, and an administrator talking about the end-to-end saver experience of dashboards from each of their perspectives.

As part of the PASA conference, Bravura will also connect its own prototype front-end commercial PDS to its ISP during the demo sessions, highlighting how different dashboards – potentially with a range of other tools and services – will provide different journeys and the possibilities this brings to both providers and savers.

While there has been a reset of data connection deadlines from the Department for Work and Pensions (DWP), through industry collaboration, Moneyhub and Bravura have been able to build and connect to a simplified version of the Pensions Dashboard Programme’s (PDP’s) Central Digital Architecture (CDA) to demonstrate how the front, middle and back of the ecosystem all work together with available real data.

When the pensions dashboards service goes live, this can be seamlessly migrated, connecting to the tested Moneyhub PDS and Bravura ISP services.

This shows that despite the reset the industry is continuing to press ahead with essential testing as the positive opportunities for industry and consumers remain a driver to get solutions to market. Bravura and Moneyhub are urging the industry to use this time to advance both their ISP and PDS readiness for when the programme returns at full speed, as well as calling on the FCA, PDP and The Pensions Regulator (TPR) to ensure the final rules and design standards don’t hinder future PDS innovation and rapid rollout.

Jonathan Hawkins, Principal Consultant and Pensions Specialist at Bravura, said: “The current delay to the PDP is a gift to the industry and one which should be used wisely. This industry-led collaboration shows how far ISP providers like ourselves and front-end commercial PDS operators like Moneyhub have come since the programme was officially announced and proves that the technology can deliver.

“When dashboards are launched to the public, they will be a huge force for good so it’s important we work together to test and agree the right approach. Millions of people are expected to use dashboards to recover lost or forgotten pensions and much like other digital services, everyone will have a unique journey because of the variation of dashboards which are expected to be available to savers. The regulators and standard-setters must make sure they don’t unintentionally prevent access to the market for forward-looking firms by creating unnecessary barriers that could harm innovation.”

Dan Scholey, Chief Commercial Officer at Moneyhub, added: “We built our Moneyhub CDA at the end of 2022 after being approached by several ISPs wishing to conduct end-to-end testing without having to wait for the PDP CDA to be ready.  It’s been fantastic to work with Bravura and its subsidiary Delta as the first ISP to connect to demonstrate how far we’ve come and how close dashboards are to coming into effect.

“We’re entering a crucial phase of the programme now and whilst the data connection staging timeline resets, the fact that two leading providers have come together to move the debate forward takes us more towards the industry-led, Government coordinated, programme that DWP originally envisaged back in 2019.  Industry can’t deliver dashboards on its own, but we can (and must) test and show what can be done both before and after the regulation kicks in. This early testing will really add value for industry, but more importantly, for consumers.

“It’s a hugely exciting time to be involved with the dashboards initiative and we’re confident the  decisions the FCA and PDP are currently contemplating around things like post-view services and tools will continue to embrace innovation to deliver good outcomes for both consumers and industry.”

Bravura and Moneyhub’s demo can be viewed on Stand 1 at PASA Annual Conference 2023 on Tuesday 2 May. Those that aren’t attending this year’s show can book an exclusive demo with Bravura via [email protected] or Moneyhub by filling in this form.

-ENDS-

Contacts
Pippa Russell
Director, Russell Communications (Bravura PR agency)
T: +44 77409331230
E: [email protected]

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