"There is now considerable appetite amongst pension providers, banks and other organisations to offer their customers a single view of their finances"
Now, Moneyhub’s dashboard is the first commercial dashboard to be successfully connected to the central architecture, in addition to the MoneyHelper non-commercial dashboard from the Money and Pensions Service.
There will be opportunity for a wide range of organisations to become FCA-authorised providers of Qualifying Pensions Dashboards Services (QPDSs). The first three alpha providers were selected because of their pensions and technology expertise and their ability to deliver on time for the programme.
Also important was a strong spirit of open collaboration with the programme and industry, for example as evidenced by the sandbox dashboard Moneyhub has put in the public domain to share knowledge and ideas, generate industry debate, and thus deliver optimal industry-wide solutions for consumers.
As multiple dashboards are now integrated with the Government's central technology components (i.e. the Identity Service, the Consent & Authorisation Service, the Pension Finder Service and the Governance Register), extensive end-to-end testing can begin, through the central architecture, and with the connected volunteer data providers, such as Altus/ITM, Heywood and Mercer.
The next phase of detailed beta testing, working with real pensions data, will proceed throughout the second half of 2022 and beyond.
Dan Scholey, CCO at Moneyhub, said: “We are delighted to have connected our dashboard in the planned six-month alpha timeline. There is now considerable appetite amongst pension providers, banks and other organisations to offer their customers a single view of their finances in order to make more informed decisions and deliver better outcomes. We are proud to be building on our pioneering open finance heritage, bringing solutions to our clients’ customers, giving them control over their financial information, and enhancing their financial wellbeing.”