The Pensions Administration Standards Association (Pasa) has announced LexisNexis Risk Solutions UK & Ireland as its Member Identity Management Expert Partner.

As part of the partnership, Lexis Nexis Risk Solutions will also chair a new working group on member identity management, which will focus on identity verification and authentication, verifying member residency status and marital status, as well as considerations around biometrics and digital identity. Pasa director, Girish Menezes, stated that the partnership will also allow the group to share best practice with its members to help them better understand their members and tackle fraud, “which is unfortunately is more prevalent now than ever before”.

PensionBee has become a signatory to the FinTech for All Charter.

The group, which is an industry-led initiative designed to promote diversity within the FinTech sector, requires signatories to commit to a five-point charter, which includes having one member of the senior executive team accountable for diversity and inclusion and providing a range of appropriate reporting channels to help employees speak up. In light of the news, PensionBee has highlighted recent data to evidence its “strong diversity”, with more than half of its employees identifying as female, compared to 43 per cent for the broader UK financial services. In addition to this, 40 per cent of employees self-identify their racial or ethnic background as other than white, compared to 13 per cent across the UK.

Penfold has partnered with TrueLayer to allow instant payments from customers to fund their pension.

The partnership will allow Penfold to integrate TrueLayer’s Payments API into its platform to deliver a “seamless user experience”. In particular, the Payments Initiation will allow customers to top up their pension whenever they like through secure and instant open banking payments. The tool is expected to create a more convenient approach, with higher conversion and few failed transactions, and provide customers with an easier, more user friendly way to pause or top up contributions, as income fluctuates.

Share Story: