back Back

Pensionhelp selects Comentis to help support vulnerable DB transfers

By Joy Dumasia

September 27, 2021

  • Comentis
  • DB
  • Defined Benefit Transfer
Share

Pensionhelp, one of the leading providers of defined benefit (DB) transfer advice, has selected Comentis’ technology to facilitate the process of identifying and supporting vulnerable customers. Pensionhelp prides itself on offering bespoke and expert transfer advice to customers with DB pension schemes and works on referrals from Independent Financial Advisers (IFAs). 

The Comentis software will help the firm detect and support vulnerable customers early in the transfer process by asking their new clients to complete the short online questionnaire. If the signs of vulnerability are detected, they’ll be flagged to the adviser, who will then be supported through the next steps of managing that individual safely and professionally through the app. Users will also have a clear audit trail to help record and report a vulnerability critical in the DB transfer market, which is regularly subject to review from the regulator. 

Pensionhelp is one of the first specialist DB transfer advice providers that proactively deploy this type of technology to support vulnerable customers. This is more important than ever; the following guidance from the regulator is against most people’s best interests to transfer their pension from a DB to a defined contribution (DC) scheme. As such, ensuring that a customer who wishes to do so is not vulnerable is vital. 

Jonathan Barrett, Co-Founder & CEO of Comentis, said: “It’s vital that all providers of financial advice are using integrated tech when it comes to identifying and supporting vulnerable customers. The level of subjectivity that results from using manual processes alone can lead to a number of problems, particularly in the DB transfer market, which is subject to close scrutiny from the regulator. It’s therefore vital that advisers have a consistent and failsafe method for identifying signs of vulnerability and can direct these customers towards appropriate support.”

Recently, IBS Intelligence reported that Comentis, the clinical tech provider, announced that it closed the pre-launch funding round at £200,000, against a pre-revenue valuation of £2million. 

Previous Article

September 27, 2021

5 FinTech companies helping MSMEs scale their businesses

Read More
Next Article

September 27, 2021

Former Microsoft and Cisco Executive Scott Slipy joins Socure as CPO

Read More







Advertise with us



IBSi Daily News Analysis

Monday

May 17, 2022

Comentis

The Monday Roundup: what we are watching this week | May 16th

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

Today

BigPay goes live on Amlock’s Financial Crime Detection and Management Solution

Read More

Today

Elucidate raised $8m to help banks counter surging financial crime

Read More

May 13, 2022

Phocket completes INR 120cr disbursement as of March 2022

Read More

Related Reports

Sales League Table Report 2021

£ 1,500.00 / year

Know More
Emerging Technologies in Capital Markets

£ 500.00

Know More
Global Digital Banking Vendor and Landscape Report Q1 2022

£ 1,500.00 / year

Know More
Wealth Management & Private Banking Systems Report Q1 2022

£ 1,500.00 / year

Know More
Treasury and Capital Markets Systems Report 2021

£ 1,500.00 / year

Know More