Smart Pension solution Envizage-s financial well-being
London-based fintech firm Smart Pension has developed a “financial well-being” solution powered by Envizage’s guidance engine.
“Over half the UK population lacks even the most basic level of financial resilience”
The product is due to be delivered in Q1 2019 and the pension provider wants to help people “make informed decisions about their money and enable them to achieve a financially secure future”.
Incorporating elements of e-learning, and in collaboration with UK-based Envizage, the application will use Envizage’s data-driven future analytics simulation to deliver a scenario modelling approach.
Will Wynne, Smart Pension co-founder and MD, says: “Over half the UK population lacks even the most basic level of financial resilience.”
To improve this situation and its service, he adds: “In some cases this might involve moving some of the contributions they have with us to other products via different providers.”
In terms of e-learning, topics covered include compound interest, tax and transaction fees.
The application is currently being developed.
Earlier this year the firm says it was the first pension platform to deliver Smart speaker technology via Alexa home hubs and Google Home as well as a Smart Employee app which allows members to view pension data in real time on their phone, change contribution levels and self-select funds remotely.
Smart Pension was founded in 2014 by Andrew Evans (CEO) and Wynne, and launched in May 2015.
Legal & General Investment Management (LGIM) took a minority stake in the platform in 2016.
