Leading online pension provider, PensionBee, has adopted software from Clausematch to manage its internal policies and controls.
In preparation for its listing on the London Stock Exchange, PensionBee first engaged Clasematch in late 2020. It needed to review and prepare a multitude of documents, and having all of its compliance documentation on a single platform helped to automate several processes.
PensionBee started by using the Clausematch editor which provided a centralised view on all the policies, procedures, standards and controls. It enables the team to collaborate on documents in real-time and track any edits that are made, providing a full audit trail of changes. Staff members can also interact with the policy owners via a designated Q&A function, should they have any questions. The system allows PensionBee to efficiently review and prepare all of its documentation, reducing the amount of time the compliance team spends on low-value administrative compliance tasks, and increasing the team’s overall efficiency.
PensionBee recently on-boarded another product module - the Clausematch Policy Portal - which gives staff members access to the most up-to-date company policies. Every member of the 170-strong team is able to access the platform, which gives users the option to confirm that they have read any new policies and that they will adhere to them. They can search the library of policies, mark their most-viewed documents as favourites, and receive email notifications every time a new policy is released.
Romi Savova, CEO of PensionBee, commented: "PensionBee is committed to transparency and high standards of corporate governance, and compliance automation is an important part of this. Clausematch has helped us organise our company policies in one place to make it as simple as possible for staff to find the information they need while providing a comprehensive audit trail. Streamlining our policy management has removed the need for manual reminders and repetitive admin tasks, freeing up the team to spend more time doing what they do best - helping our customers look forward to a happy retirement.”
Evgeny LIkhoded, CEO and Founder of Clausematch, commented: "We're delighted to be working with such an innovative business as PensionBee empowering the team with our tools for compliance management. Our companies share a lot in common: PensionBee allows savers to combine their pension pots all in one place, while Clausematch allows teams to consolidate all of their compliance documents in a single place in a dynamic format. PensionBee solves the problem of having lots of pension paperwork, and that's what Clausematch does in compliance. We're both on a mission to simplify and deliver the best possible outcomes for our customers: our innovation is a marathon, and we're happy that we're working together."
PensionBee is a leading online pension provider, enabling customers to interact with their savings through its unique combination of smart technology and dedicated customer service.
Since it was founded in 2014 by Romi Savova, PensionBee has been a challenger in an industry ripe for disruption. It has grown rapidly by helping consumers to solve the challenges they face when it comes to locating, combining and managing their pension savings. PensionBee counts 155,000 Active Customers from 18-80 years of age with £2.25 billion in Assets under Administration as at 30 September 2021. Its range of pension plans are tailored to its customers and are managed by some of the world’s largest money managers including: BlackRock, HSBC, Legal & General and State Street Global Advisors.
PensionBee uses its proprietary technology and Open APIs to allow customers to manage their pension easily, view their live balance, and with the help of a smart calculator to plan their savings, make contributions and withdrawals online, all with transparency on fees. It continuously engages with customers through its dedicated customer account managers using jargon-free communication and listens to feedback to develop new tools which help customers to easily plan for their retirement. PensionBee has consistently maintained a Customer Retention Rate and an AUA Retention Rate of >95% and a 4.7★ Excellent Trustpilot rating.
PensionBee is admitted to trading on the High Growth Segment of the London Stock Exchange’s Main Market (LON:PBEE).