Big win for Scottish Fintech Origo
Origo is delighted that Capgemini and Origo have been appointed to supply the central digital architecture for the Pensions Dashboards Programme and will be working with the PDP to help deliver the service for the benefit of UK pensions holders.
Announced by the Pensions Dashboards Programme and the Money and Pensions Service (MaPS) on 6 September 2021, the contract was awarded to Capgemini, who will partner with Origo to deliver the specified elements of the central digital architecture, namely the pensions finder service, consent and authorisation service and governance register, which will form a key part of the pensions dashboard ecosystem.
Origo has been fully committed to progressing pensions dashboards from the day the project was announced. Our 30-year history has been about delivering ground-breaking technology to make financial services more efficient and cost effective, and improve outcomes for savers and investors.
PDP stated that the Capgemini/Origo bid was successful “due to its quality and value for money, plus the credibility and expertise of both parties to deliver the contract.”
The procurement process
The procurement followed an extensive period of engagement by the PDP, with both the pensions industry and potential suppliers, which shaped the development of the technical requirements. This included several market engagement exercises and webinars to explain how the digital architecture will work and the policy background to the programme.
The five-month procurement started with the invitation to tender in April this year. The open and transparent process, used Lot 4a (Programmes and large projects – covering Government official security classification) of the Crown Commercial Service Technology Services 2 framework agreement. This approach complies with all necessary government spend controls and provided a speedy, effective method to procure the digital architecture.
The successful conclusion to the procurement marks the end of the first phase of the Pensions Dashboards Programme, and is a major step towards bringing pensions dashboards to life. The programme now moves into its develop and test phase, as indicated on the PDP programme timeline. The focus now shifts to building the software elements that will make pensions dashboards work and testing the ecosystem, with the volunteer organisations that have signed up to be part of the testing phases.
Richard James, Programme Director of the Pensions Dashboards Programme at MaPS, commented on the day of the announcement: “Today’s announcement of a digital technology supplier marks the moment when dashboards move off the drawing board, and become real. I’m delighted to partner with Capgemini and Origo, who really impressed us with the quality of their bid; and whose deep pensions industry expertise coupled with extensive experience of delivering major programmes makes them superb partners for the programme. PDP now formally moves into its delivery phase, and I am looking forward to working with our new supplier, and across the industry, to make a success of pensions dashboards, and enable individuals to take control of their retirement planning.
Paul Margetts, Managing Director of Capgemini in the UK echoed our own delight “to have been chosen as the digital technology partner to build the core architecture and support the significant milestone of bringing pensions dashboards to life.” He added: “We believe our success is founded not only upon our expertise and deep capabilities but also through our strategic collaboration with Origo, who is dedicated to improving the financial services industry's operating efficiencies. We are looking forward to working with the Pensions Dashboards Programme to support them in delivering a seamless service that will allow UK pension holders the control and visibility to take action and plan for the future.”
Concept to reality
Guy Opperman, Minister for Pensions, said that the announcement was “a crucial milestone for the dashboards programme, taking things to the next phase, where the concept starts to become a reality.
He added: “We’ve already put in place the primary legislation needed to pave the way for pensions dashboards. Now the programme, in partnership with Capgemini and Origo, can start to implement the technical elements, bringing the delivery of the first functioning dashboards even closer.
“I have previously urged pension schemes to get their data ready for dashboards. My message remains – schemes should be improving their data quality as part of their preparations for participating. The clock is ticking and this achievement is yet another reminder that schemes must be getting ready to connect.”
Anyone interested in keeping up to date with programme updates and future call for inputs can sign up to receive the monthly Pensions Dashboards Programme (PDP) newsletter, and following PDP on Twitter and LinkedIn.