Successful tests by fintech firm
Origo ready for 15m Pensions Dashboard users
Pensions Dashboard: comes into effect next year
Origo, the Edinburgh-based fintech company, says its technology is ready to cope with 15 million active online consumers searching for details about their pensions.
The company said “scalability testing” of the technology, in collaboration with MuleSoft and ForgeRock, for the forthcoming Pensions Dashboard has proved successful at high volumes.
The solution is the underlying engine that enables consumer requests to be sent to pension providers, schemes and third party administrators, and for pension details to be returned to the consumer-facing dashboard.
Parliamentary Under-Secretary of State for Pensions and Financial Inclusion, Guy Opperman, has committed to launching Pensions Dashboard by the end of 2019, a deadline which Origo both supports and believes is achievable.
With individuals being more likely to have multiple employers over their working lives, they are also expected to have several pension schemes.
Initiatives such as pension freedoms and auto enrolment are also adding to the complexity and need for access to information. Being able to view, track and manage their pensions all in one place is considered the next logical step for the industry.
Kenneth May, chief architect at Origo, said: “We have benchmarked our solution against example test scenarios and factors.
“Averaged out over a day, this requires a throughput of just over 1,000 transactions per second to deal with incoming traffic from the Dashboard(s) and to collate responses from pension providers.
“We have tested at more than double this rate to ensure that we can cope with typical usage patterns which have significant peaks during the working day. Our test results give us confidence that we can reliably achieve, exceed and sustain the required throughput and provide a robust low-latency service.”
Anthony Rafferty, managing director, Origo, adds: “We are delighted with the progress we’re making on behalf of consumers. Our recent testing has proven that the solution scales.
“One of the main concerns of those responsible for delivery of this critical project is the sheer complexity in scaling up the central IT infrastructure to deal with this anticipated volume of consumers. It is vital that this is achieved securely, efficiently and at acceptable cost to Government and industry stakeholders.
“Our offering is underpinned by highly scalable world-class technology which orchestrates the finding of pensions securely. It also provides centralised authorisation services to enable dashboard access to the pensions which are found and includes advanced features such as Delegated Authority (access) for advisers, guidance bodies and other trusted parties
“Working in collaboration with providers and industry bodies over the years, as well as the support from our strategic technology partners – MuleSoft and ForgeRock – has enabled us to deliver and successfully test the plumbing of the pensions dashboard. For us, the technology is ready for 15 million consumers.”