WealthKernel has launched new SIPP technology for fintechs and their clients amid growing demand for digital solutions.
The financial group has used application programming interface (API) technology to allow clients to offer digital SIPPS to their customers using the firm’s new product wrapper, whilst continuing to offer the option of paper-based pension transfers where needed.
WealthKernal said its proposition comes at a time when “younger, digitally native consumers” are engaging more actively with their finances and demanding increased accessibility to financial products.
Pension-technology firm Penny is one of the first businesses to integrate WealthKernal’s digital SIPP alongside client’s traditional pension pots.
Karan Shanmugarajah, CEO of WealthKernel, says: “SIPPs are an incredibly valuable savings vehicle that allow people to have more say over how their pensions are invested, and we’re thrilled to be helping bring them to a wider audience.
“Thanks to seamless integration with our APIs, fintechs large and small will be able to support their customers with greater flexibility for their retirement savings. We look forward to working with the likes of Penny and many other forward-thinking businesses to help improve access to wealth management services.”
Josh Stott, CEO of Penny, adds: “This partnership with WealthKernel is an exciting step towards serving our customers even better by giving them more control over their pensions.
When we founded Penny, we set out to make finding, viewing and managing pensions easier and we’re thrilled that WealthKernel is powering us further along that journey with its simple, affordable technology.
“We hope this unlocks a new mindset for our customers, who will now be able to view all of their old workplace pensions in one SIPP product, empowering them to make pension investment decisions that work for them and their ideal.”
