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Tag Archives: open finance
Open finance throttles fraud.
I am very pleased to see PASA’s online guide to countering online fraud. In writing that sentence I hope to explain my dilemma as someone promoting data sharing and promoting pensions. If fraud stops us sharing information, fraud has … Continue reading
Easing pressure on pension dashboard delivery.
The next stage of the Pension Dashboard Programme’s consultation into the delivery of the dashboard has arrived and it is the first since the mandating of the dashboard by the Pension Schemes Act. Sadly , we continue much as we … Continue reading
Bigger Pots and Bigger Pensions through Open Finance
‘Breaking Banks: A blueprint for Open Finance that puts customers first’ puts forward a series of recommendations to help create a functional Open Finance ecosystem in a post-Brexit economy. Within the report, COADEC calls for the UK government to break … Continue reading
Posted in advice gap, Dashboard, dc pensions
Tagged Coadec, open finance, Pension Bee, Pension Dashboard, pension dashboards, Pensions
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Four ways for financial advisers to open for change
The self-referencing loop Caught in a self-referencing loop, the debate about how financial advice can involve seems doomed to repeat itself indefinitely. Last night I listened to four experts (who weren’t practicing financial advisers) discuss for 90 minutes how financial … Continue reading
Posted in pensions
Tagged Financial Technology, Martyn Lewis, open finance, open money, Technology
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A radically simple solution to dashboard delivery.
Pension Bee has produced two important papers in the past week. The first is its response to the FCA’s call for input on Open Finance The second is yesterday’s public call to action to bring open pensions as part of … Continue reading
Posted in age wage, pensions
Tagged AgeWage, AgeWage Pension Bee, DWP, FCA, open finance, Open Financee initiative, open pensions, Pension Bee, pensions
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Client onboarding & the cost of advice
Heather Hopkins explains why we need open finance. A debate erupted between Henry Tapper and Rob Reid recently on Twitter, which came down to a stat published by NextWealth: it costs £1,500 to onboard a client. Henry asked “are advisers who charge less … Continue reading
“If you want a do-it-all dashboard – you’ll have to wait a decade”.
Speaking at an AgeWage/FDATA event last night, Romi Savova told a packed house that the MAPS dashboard could do little more than find people’s pensions with the detailed information we need to take decisions on our pots delivered off-dashboard via … Continue reading
Posted in advice gap, age wage, Pension Freedoms, pensions
Tagged DWP, FCA, FDATA, Open Banking, open finance, Pension Bee, pensions, Romi Savova
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Why delays in dashboard delivery hit the worst-off hardest
This blog looks at how the information from the pensions dashboard could help those on low incomes with low savings and it focusses not on how they save, but how they spend their savings. I had hoped , following … Continue reading
Posted in advice gap, age wage, DWP, MAPS, pensions
Tagged Dashboard, Gareth Morgan, MAPS, open finance, Pension Dashboard, pensions
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Answering customer’s questions means knowing what those questions are
In this blog I talk about the failings of the financial services industry – the pensions industry in particular – to answer the questions people have. I look at this at three levels – at big data level – through … Continue reading
Posted in pensions
Tagged Angela Probert, Dashboard, Gavin Littlejohn, open finance, pensions
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Will open finance transform financial services?
In case we had any doubt what the answer should be, the Financial Conduct Authority asked for “proposals on how open finance could transform financial services”. There were other words for ‘how’ such as whether or if, but how was … Continue reading
