Four technology providers, Target Professional Services, MypensionID, Bravura and its subsidiary Delta Financial Systems, have partnered on a new end-to-end solution for pension providers looking to onboard to the dashboards ecosystem.

The Department for Work and Pensions (DWP) announced plans for a "reset" of the Pensions Dashboards Programme (PDP) earlier this month, with a further update on the plan for the delivery of pensions dashboards expected before summer recess.

However, the coalition of technology providers argued that despite this delay, providers should continue preparations to connect to the ecosystem and not wait for new staging deadline dates to be set, potentially losing valuable time further down the line.

The new system therefore aims to better support pensions providers by helping them navigate the "complex web of processes" and regulation when connecting to the ecosystem, with each of the four firms playing a specialist role.

In particular, tracing company, Target Professional Services, will screen and cleanse member data, while its sister company, MypensionID, handles the verification and tracing of individual members using a verification app designed specifically for the pensions industry.

The coalition suggested that this will "uniquely" allow members to verify themselves on their smartphone in minutes, rather than the long and drawn-out process of sending documents through the post.

Following this, member data would be loaded into the jointly developed Bravura/Delta Integrated Service Provider (ISP) solution and configured to the individual provider’s preferred matching rules, before being fully tested to ensure compliance with the PDP Code of Connection.

Commenting on the launch, Target Professional Services managing director, Lisa Lyon, stated: “I’ve lost count of the number of industry professionals I’ve heard say how perplexed they are with the process of onboarding to the UK’s pensions dashboards.

“Despite the recent reset, the staging deadlines will still rapidly approach and there’s a clear and urgent need for a compelling end-to-end solution to help take this stress away from providers, schemes and TPAs, who already have a raft of regulations to deal with, including the impending Consumer Duty.

“We’re all about providing an uncompromised standard of service to our clients, so the idea of bringing four specialist providers together that are capable of doing everything from data cleansing to providing a scalable out-of-the-box ISP solution was a no-brainer.

"While each company is a specialist in its own area, together the whole is certainly greater than the sum of our parts, which makes us totally distinctive in the market.”

Adding to this, Bravura principal consultant and pensions specialist, Jonathan Hawkins, stressed that pensions dashboards are a "crucial step" towards modernising and digitising the UK’s pensions sector and, arguing that "with the clock ticking", pensions providers need tech partners with proven scale and expertise.

"This unique collaboration delivers that solution," he continued. “Delta, MypensionID and Target’s deep expertise and technical know-how in the pensions and data sectors, combined with our ability to process huge volumes of assets and trades on our systems, brings a level of reliability and scalability that pensions providers require right now."

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