Crown Agents Bank launches new pension solution EMpower Pensions
By Megha Bhattacharya
Crown Agents Bank, the UK regulated financial service provider, has announced the launch of its new pension solution, EMpower Pensions. EMpower Pensions offers effective, end-to-end pensions management from one easy-to-use interactive platform, including Biometric Facial Authentication Proof of Life technology, reporting and convenient administration functions for pension administrators & their pensioners alike.
Users of the Empower Pensions solution will have access to enhanced digital pension services through an intuitive, secure platform. Digital Proof of Life solutions will greatly assist pension administrators by more efficiently and effectively verifying that pension payments are being delivered to entitled beneficiaries whilst mitigating fraud and overpayments.
Colin Digby, Head of Non-Bank Financial Institutions at Crown Agents Bank explains, “The introduction of our new pensions platform, EMpower Pensions, offers efficient and secure pensions processing with a much higher level of convenience for pensioners and scheme administrators alike – something that is hard to find in the pensions market, which is dominated by expensive, manual paper-based solutions.
“The launch of EMpower Pensions marks the latest milestone event in our exciting digital transformation strategy, led by our new CEO Bhairav Trivedi. With EMpower Pensions we are harnessing cutting edge technology, including biometric facial authentication for Proof of Life services. We are creating more innovative ways of automating financial services to reduce processing costs and time – benefits that we are delighted can be passed on to our pension customers.”
Crown Agents Bank’s global banking infrastructure will enable transactions to be tracked in real-time, via the EMpower Pensions portal, providing certainty via reliable reporting capabilities. Furthermore, an intelligent, automated payment management process enables pension administrators to better manage historical & current payments, as well as having the flexibility to upload future dated transactions in advance, making planning and control more efficient.
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