Tell us your pain points and we’ll develop new solutions, Origo CEO urges industry

Origo CEO Anthony Rafferty is encouraging members of the industry to talk to the fintech about the pain points it is experiencing, with a view to finding solutions that will benefit the industry as a whole.

Talking at a recent Origo industry event, Rafferty said: “We are interested in ideas and any pain points that the industry has. With the backing of our new owners, Vespa, we are perfectly positioned to develop new solutions to better help do what we have always done over the past 34 years, empower the industry to become more efficient, cost effective and most importantly, deliver better outcomes for consumers.”

In 2022 Origo went through a change in ownership, from being owned by 12 of the biggest pensions and investment businesses in the UK, to become owned by private equity firm Vespa. The result, Rafferty said, “has been greater flexibility and the ability to identify issues and bring solutions to market faster.

Despite that independence, Rafferty said Origo is determined not to lose the closeness with its customers and former shareholders. “We are continuing with our user groups. We want to stay close and we want our customers to influence our development roadmap.

Unipass Letter of Authority is an industry focussed service with which Origo is having particular success, Rafferty said. “This is a service that financial advisers have had at the top of their wish list for a number of years – and anybody who has gone for financial advice will know just how broken the current, often manual, process is. In two comprehensive reports from the lang cat*, it was highlighted as a major source of frustration for advice firms and their clients.

“Unipass Letter of Authority gives the industry a key way to improve this element of advisers’ onboarding service. It’s a digital solution that integrates with provider systems and pipes the requested details back in a fraction of the time it currently takes, for advisers to get the response they need.

“Providers are quickly realising the benefits Unipass Letter of Authority delivers for them, advice firms and the end client.”

As well as rolling out Unipass letter of Authority to the market, Origo continues its work for the PDP and MaPS on the Pensions Dashboard, has delivered the Origo Dashboard Connector, which will be vital for pensions companies to connect to the dashboard’s central digital architecture, and continues to enable the industry to integrate on key services quickly and efficiently through the Origo Integration Hub.

“In addition, our solutions at Origo are helping the industry to comply with Consumer Duty, which we expect to be a real catalyst for us,” Rafferty added. “Consumer Duty requires companies to look at every aspect of their business to ensure good outcomes for consumer’s and avoid foreseeable harm. We expect to see more companies turn to technology to help them address the pain points in their processes and to ensure their service levels deliver against the new rules.”

*the langcat - A Disconnected World:The Adviser’s Reality and thelangcat -A Fragmented World