Altus, Financial services software specialists, and ITM, pensions data and platform technology specialists, announced they are joining forces to become the industry’s first commercial Pensions Dashboards Integrated Service Provider (ISP) – a recognised mechanism to connect to Dashboards as per regulations.
This partnership will see the two independent technology leaders pool their specialist resources, skills and technical capabilities to develop an open-market connection to pensions dashboards. Utilising their respective strengths in data transportation, data management and the combined experience of over 30 years’ working with UK pension schemes, their ISP provides:
- High speed, high volume, resilient, secure & responsive systems, capable of managing the scale and demand of multi-million dashboard users with a long-term track record of delivering to the Life & Pensions market
- Flexible, seamless data connections to all scheme types and all data providers, agnostic of platform or software, with additional integration where possible
- Superior data management, analysis and cleansing – acknowledged market-leading & robust automated pension data matching along with flexible client-driven matching capability, ensuring complete data security and client confidence
- Support for the complexities of displaying Estimated Retirement Income, based on up-and-coming guidance.
Altus, now part of Equisoft after their recent acquisition, have built a reputation as a trusted supplier of secure cloud-hosted systems to automate business critical functions for the pensions industry. Altus systems process high-value transactions and handle sensitive data for millions of pension scheme members every year.
ITM are the recognised pension data specialists drawing on decades of experience designing and delivering solutions for the biggest data challenges in pensions for complicated schemes using their proprietary technology and data management services. As one of few chosen Alpha testing partners with the Pensions Dashboards Programme, ITM are working closely to develop and test the dashboard framework ahead of a wider rollout.
Altus & ITM have a healthy track record of collaboration and are ready and committed to delivering their ‘gold standard’ dashboards connection. Together, they’ll provide their existing clients, as well as other pension schemes, administrators and data providers across the full pensions market with a simple, achievable way to connect to the pensions dashboards – aligning ‘best in class’ existing and trusted capabilities into a single ISP solution.
Maurice Titley, ITM Chief Innovation Officer, said: “The challenge for pension administrators to provide data to pensions dashboards has always been two-fold: firstly how to provide the high quality data required to support dashboards, and secondly how to expose that data to a high volume 24/7 pensions ‘find and view’ service with millions of users. The synergy driving the Altus/ITM dashboard connection overcomes these challenges and performs to the new technology standards of dashboards, whilst also handling the complexities and realities of the pension data world.”
Ben Cocks, Altus Director, said: “The regulations to compel pension administrators to connect to the dashboard are coming down the tracks fast. We all know that running pension schemes in the real world is a complicated business but by joining forces with ITM we can provide administrators with a straightforward route to compliance. The Altus/ITM dashboard connection solution can be the cornerstone of a successful rollout of the pensions dashboard.”