WealthKernel, a wealthtech provider for digital investment services, today announces the launch of its new digital SIPP (self-invested pension plan) offering. The new functionality will enable WealthKernel’s clients to offer digital SIPPs to their customers, using WealthKernel’s new API product wrapper.
The new digital SIPP offering, which is integrated over API, will enable WealthKernel’s clients to future-proof their business with a regulated, digital-first proposition that meets the needs of modern customers, whilst still offering the option of paper-based pension transfers where required.
WealthKernel’s digital offering arrives at a time when younger, digitally native consumers are engaging more actively with their finances and demanding increased accessibility to financial products. With most SIPPs on the market still relying on paper-based transactions, WealthKernel’s digital SIPP now provides an innovative, digital-first alternative to those wanting to be more proactive with their pension savings.
Penny, a pension-tech firm that uses automation technology to help users find and transfer all their pensions savings into one place, is one of the first businesses to integrate WealthKernel’s digital SIPP. Penny will use the product to offer its users additional retirement saving capabilities alongside their traditional pension pots.
Karan Shanmugarajah, CEO of WealthKernel, says:
“SIPPs are an incredibly valuable savings vehicle that allow people to have more say over how their pensions are invested, and we’re thrilled to be helping bring them to a wider audience. Thanks to seamless integration with our APIs, fintechs large and small will be able to support their customers with greater flexibility for their retirement savings. We look forward to working with the likes of Penny and many other forward-thinking businesses to help improve access to wealth management services.”
Josh Stott, CEO of Penny, says:
“This partnership with WealthKernel is an exciting step towards serving our customers even better by giving them more control over their pensions. When we founded Penny, we set out to make finding, viewing and managing pensions easier and we’re thrilled that WealthKernel is powering us further along that journey with its simple, affordable technology. We hope this unlocks a new mindset for our customers, who will now be able to view all of their old workplace pensions in one SIPP product, empowering them to make pension investment decisions that work for them and their ideals.”