Listening to Your Feedback:
We value the feedback of our clients and users, and this update is a direct result of carefully listening to your insights. Our primary focus has been on improving the onboarding process, making it even easier and more intuitive for users to verify their identity seamlessly. We understand that the onboarding experience sets the tone for user engagement, and our enhanced app ensures a smooth and efficient journey.

Greater Functionality:
The new version of the mypensionID App introduces enhanced functionality that caters to the diverse needs of our users. From simplified navigation to advanced features, we have ensured that the app aligns with the expectations of our global user base. Whether you’re a tech-savvy teenager or someone with decades of life experience, the mypensionID App is designed to cater to your
unique needs.

Uncompromising Security:
Cybersecurity and fraud prevention remain paramount in the digital age. With this update, the mypensionID App is equipped with the latest advancements in cybersecurity measures to safeguard your data. Our commitment to protecting your information is unwavering, and we have implemented state-of-the-art controls to ensure your identity remains secure and your control over your data remains absolute.

Keeping Control in Your Hands:
At mypensionID, we believe in empowering users with control over their personal information. The updated app further amplifies this principle, putting you in charge of your identity verification journey. Your data remains confidential and is only used for its intended purpose, giving you the confidence to utilize the mypensionID App for a wide range of applications. This update is a reflection of our dedication to constant improvement and innovation. The enhanced mypensionID App sets a new standard for digital biometric identity and verification solutions, catering to a global audience with diverse needs and preferences.

Lisa openly and frankly discusses the concept behind mypensionID, that were learned from the challenges the clients of Target Professional Services faced. She talks about these issues were addressed and working in tandem with one of our major clients we developed the app through to pilot and then to the globally distributed technology it now is.

She also highlights the challenges she had to overcome as a female business leader and her experience in the pensions and financial markets.

Listen to the podcast now from wherever you download your podcasts or via the link to the FinTech Magazine website here.

mypensionID will now offer its clients services in conjunction with Ebury, a leading global payments business backed by Santander Bank, that specialises in cross-border financial services and risk management.

The partnership will mean that mypensionID clients will be able to receive competitive services for payments made to overseas pensioners from Ebury. It reflects a shared objective in ensuring the best value for pension schemes, ensuring Secure Digital Verification for members and continued support for pension administrators.

“Connecting Ebury with mypensionID will make it easier for pension administrators to ensure best value for scheme member payments alongside streamlining proof of life and trace solutions for the industry.”
– Owain Walters, Managing Director of Mass Payments at Ebury

The partnership follows the continued success of the mypensionID application, which provides a secure method of connecting people with their pensions and ultimately their payments to ensure they are paid securely and promptly to the correct individual.

It also reflects the growing trend for FinTechs to combine their offerings and improve access to products and service for customers around the world.

“Our aim is to optimise the security and value of cross-border pension payments for the UK’s overseas pensioner community. By adding Ebury as a partner to our mypensionID solution, we hope to drive an increase in member value, transparency and customer service in another digital leap forward for the sector.”
– Lisa Lyon, Managing Director at Target Professional Services

mypensionID enables schemes to connect with members via proven GDPR compliant mobile technology allowing them to ensure their details are up-to-date. The app uses cutting-edge facial and movement biometrics to verify and authenticate member personal identity against official validated documents, such as passports or driving licences. The member can update their address, spouse and bank account details safely and securely, allowing the scheme to report accurate and complete data. With the Pensions Regulator scrutinising scheme data more than ever mypensionID ensures schemes comply with regulatory requirements securely and compliantly. mypensionID additionally provides cost-effective and efficient international mortality screening, allowing pension payments to be suspended promptly when needed, delivering direct cost savings to schemes.

Initially targeting overseas pensioners in payment, mypensionID has been launched in 92 countries and the response has been impressive, with almost 60% of respondents using the app to verify their identity and update their details. The average age of verifications is 68 while the oldest member is 93 years old.

Lisa Lyon, Managing Director of Target commented “We know that security of data and reliability of technology is crucial for everyone, however we are aware this demographic are particularly cautious, so are delighted with the digital take-up, clearly demonstrating the simplicity of use and confidence in mypensionID. The app will revolutionise member tracing, verification and engagement for schemes.”

The use of biometric technology in identity verification is now commonplace. Whether in a bank or in an airport, it is used to prevent fraudulent activity and provide added security to a person’s data.

The mypensionID vision was to bring these benefits, already enjoyed by many businesses and their customers, into the pension’s world.

mypensionID empowers the individual to take control, providing them with a secure and swift means to update and confirm their details with their pension providers, no matter where they are in the world.

mypensionID utilises several biometric identifiers, including facial scans, to uniquely identify and authenticate an individual prior to permitting them access to their personal information. mypensionID offers a simple and fast solution to the current process, removing the need to post important documents and reducing the potential for fraud.