Two of the UK’s biggest providers have signed up to the Dashboard Operators Coalition alongside fintech firm Mintago.
As well as Aviva, Scottish Widows – part of Lloyds Banking Group – and fintech firm Mintago have also joined the coalition, and all plan to apply to the Financial Conduct Authority to become regulated dashboard operators once the relevant rules are in place.
London-based Mintago was founded in 2019 and has recently received an innovation loan to finance enhancements to its technology platform, which provides financial planning and wellbeing services to employers.
Daniel Conti, Mintago’s chief operating officer and chief financial officer, said becoming a dashboard operator would be “a natural extension of our platform by offering individuals the ability to view their live pensions data as part of accessing their workplace benefits in a seamless and intuitive way, empowering them to make informed decisions about their financial future”.
Emma Douglas, director of workplace pensions at Aviva, said dashboard would “help deliver a pensions revitalisation, now and for future generations”, and joining the coalition would help drive positive change for consumers.
Other members of the Dashboard Operators Coalition include Just Group, Legal & General, Moneyhub and Standard Life, part of Phoenix Group. Through the coalition, the companies aim to work with government and regulators to “support the successful launch of dashboards for consumers”.
Richard Smith, chair of the coalition, said: “The sheer diversity of Aviva, Mintago and Scottish Widows as organisations demonstrates the wisdom of the government’s multiple dashboards policy.
“A diversity of dashboards, all regulated by FCA and showing the same pensions data, means consumers will be able to see all their pensions together in the place of their choosing. More access points means more engagement.”
He added that progress on the development of dashboard rules and the connectivity ecosystem meant that “many more diverse firms” were planning to provide dashboards.
Graeme Bold, workplace pensions director at Scottish Widows, said: “Dashboards are a huge opportunity for people to bring their pensions together to better plan for their future.
“We already see customers connecting their pensions via Open Finance in the Scottish Widows app, demonstrating there is demand for a dashboard that helps people see their savings in one place and better plan for their retirement.”
The Department for Work and Pensions set out the connection timeline for dashboard providers and pension schemes in March, with the first deadline in April 2025.
Further reading
‘Capacity crunch’ risk as schemes failing to plan for dashboards (18 April 2024)
FCA opens dashboard consultation for comment (28 March 2024)
Dashboards and scheme data: Four key areas to watch for 2024 (9 February 2024)
