PensionBee’s impressive success in revolutionising and simplifying pensions means the company has made financial security and freedom possible for their more than 260,000 Invested Customers.
But growth doesn’t come without responsibility, and for PensionBee’s Risk and Compliance teams the growth spurt meant moving away from spreadsheets and needing a more robust tool for policy governance, risk management and more. They looked for a new integrated solution.
That’s when the team found RiskSmart.
The solution
As one of our early-stage customers, PensionBee challenged us to add features and rapidly expand our platform to cover policy and document management, in addition to risk and compliance. As PensionBee’s risk team was using siloed systems for this, it was imperative that the new solution integrated with the risk, compliance and policy modules.
Working with PensionBee meant leveraging their vast expertise. RiskSmart was able to build out a Policy module that had everything the team needed, but also kept the simplistic approach RiskSmart is known for. Thanks to the highly skilled and collaborative approach of the risk team at PensionBee, it didn’t take long until the Policy module became a powerful tool that’s now being used by thousands of professionals across financial institutions.
PensionBee is now up and running with our risk and compliance modules as well. They are using RiskSmart to centralise their risk management work, save time on RCSA and streamline their control processes.
Key outcomes
- Helped strengthen the risk framework via an integrated approach.
- Saves time on RSCA.
- Helped the risk team break down silos and facilitate risk culture.
About the customer
PensionBee is on a mission to build pension confidence and create a world where everyone can enjoy a happy retirement. They enable customers to access their pensions easily, whether that's transferring their old pensions and investing them into a brand new online plan or withdrawing with ease from age 55 (rising to 57 in 2028).
Founded by Romi Savova in 2014 as a result of her trying to move her old workplace pension and facing great difficulty in the process, PensionBee has now grown into a publicly listed company with an IPO on the London Stock Exchange and is a global business in the consumer retirement market in the UK and the US.
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