Scotland’s First Minister highlights Pensions Dashboard at ABI Annual Conference
27 February 2018
Nicola Sturgeon, First Minister of Scotland, has praised the work of Scotland-based FinTech companies on bigger picture financial services projects.
Speaking at the ABI Annual Conference, she gave specific mention to Edinburgh-based FinTech company Origo, recognising the not-for-profit’s thought leadership on the Pensions Dashboard initiative.
The First Minister said she and her government were keen to support companies that are “active in the FinTech field”. Origo, she said, was “one example of the expertise and talent that we have in our Insuretech sector. So we want to build on that expertise.”
Asked how she saw the future role for Fintechs like Origo in Scotland in serving the rest of the UK in such pivotal industry projects as the Pensions Dashboard, Nicola Sturgeon said, “I think the future is bright and strong for companies like yours in Scotland.”
Origo’s work on Dashboard, she said, “has a hugely beneficial impact for Treasury, the DWP and more broadly in the public sector”, adding that the government wanted to be “an enabler for the industry” and “would be happy to talk with [Origo] further at a later date to see what we can do to support what you are trying to do.”
Anthony Rafferty, managing director, Origo said the firm was “delighted” to be mentioned in the First Minister’s speech. “Origo is a financial technology company which is run by the industry for the consumer. The Pensions Dashboard initiative is one of enormous ambition and has a real social purpose. In line with our consumer ethos, Origo is proud to work with Industry and Government stakeholders in developing a truly world class solution.
“We are delighted that the Pensions Minister Guy Opperman has tasked the Department for Work and Pensions with taking forward the development of the Pensions Dashboard. We look forward to the outcome of the feasibility study in March.
“The pensions industry needs to be ready to respond quickly if it is to meet the Pension Minister’s challenge of a 2019 launch. Origo is confident it can establish the central architectural components this year which will support the required Industry integration effort for a 2019 launch. We are actively working towards this and are testing our Pension Finder Service at population scale. We stand ready to deliver.
“We believe that the Pensions Dashboard will be transformative in helping engage consumers with the vital information required to plan for better long-term saving and retirement outcomes.”
Alastair Ross, head of Public Policy at the Association of British Insurers added: “It was great to hear the First Minister recognise Origo Services and its work on the Pensions Dashboard project as an outstanding illustration of InsurTech and FinTech in Scotland.”
ATEB Consulting’s Steve Bailey looks at how the FCA’s view of suitability and what that means in practice for...
Paraplanners who have been furloughed and are concerned that their company will not have a job for them should...
The Supreme Court has ruled that a pension transfer made in ill health should not be subject to inheritance...