Data Feed Engine – Proof of Concept, for Pensions Dashboards
On Wednesday 14th September, Origo demonstrated the power and ingenuity of the Data Feed Engine Proof of Concept (PoC) for pensions dashboards live on Twitter. Showcasing the potential of the Engine and the work that the industry has already completed. There are a few important things to note about the demonstration before we proceed.
Firstly, this is an industry development; so, it is a real credit to all the parties and organisations from across the industry who took part to bring this PoC to life.
Secondly, we are playing our part as the collaborative hub. We have taken on the task of actually building a much talked about PoC which is essential for dashboards to succeed - pulling together the knowledge and experience required from across the industry to do so.
Lastly, this is a big deal. Here is what we know so far. There will be potentially multiple dashboards, with lots of users, making requests for their information from potentially hundreds of providers/employers/TPAs. There is a potential user base of 20 million+ consumers, with multiple devices (tablets, mobiles, laptops, etc) and each person could have around 11 pension pots (according to DWP).
With all this considered, it is clear that the Data Feed Engine needs to be robust, secure, scalable and most importantly, flexible. There’s a need for pension companies to be able to easily hook in with the Engine regardless of their preferred integration method. Think about it. 20 million people searching on tablets, computers and mobiles regularly checking, reviewing, and updating their money – and pensions is just the start. It’s got be cost effective and efficient to enable pension companies to encourage consumers to access accurate, up-to-date information that’s delivered securely and in a controlled manner.
The Treasury recently decided the ABI (Association of British Insurers) will be project managing the pensions dashboard project going forward, on behalf of the industry. This is a project which every corner of the industry must get involved in, in some capacity.
Without an effective Data Feed Engine, built using open standards, dashboards just wouldn’t be possible. That is why this Proof of Concept is such a big leap forward, proof we’re heading in the right direction - literally taking the next step towards making dashboards a reality for the industry and for consumers.
To get a walkthrough of our Twitter presentation please see below for the Twitter journey we took users on, on Wednesday 14th Sept. And if you would like a more detailed presentation of the PoC, please get in touch.
1. Welcome to what must be the first demo of a working Proof of Concept for Data Feed Engine for a pensions dashboard #tellRick
2. Not as detailed as our live demonstration of course, but our hope is this Twitter micro version gets you excited… #tellRick
3. Our efforts are focused on assisting the industry in developing a Data Feed Engine #tellRick
4. The Engine will enable efficient & cost-effective processes for Finding & Valuing pensions for dashboards #tellRick
5. Objective: to bring to life the Proof of Concept (PoC) & help industry ready their systems for feeding pension dashboards #tellRick
6. We must consider potentially 20mil consumers/users making frequent requests for valuations, via mobile & other devices #tellRick
7. The PoC brings to life the Data Feed Engine features already developed #tellRick
8. Remember: We are not demonstrating a dashboard #tellRick
9. We have simply created a “test dashboard” to help show the results of the underlying Data Feed Engine #tellRick
10. We have also simulated integration with a Digital ID Verify to demo user journey for consumer logon #tellRick
11. Rick Anderson is our test consumer – say hello to #tellRick
12. We will show you two journeys for #tellRick
13. 1stly, #tellRick ‘Finding’ & ‘Valuing’ his pensions, 2ndly #tellRick as a ‘Returning User’. So Let’s Begin!
14. Scenario 1: #tellRick wants to find his pensions from multiple providers
15. Once approved, matching data is presented/returned from ID Provider, ensuring #tellRick is who he says he is
16. For efficient matching in the Find process, #tellRick must enter his National Insurance number*
17. *Note: NI number is spoofed for demonstration purposes, but security is crucial to ensuring dashboards can be trusted #tellRick
18. This is the same process recently implemented on GOV.UK for citizens to check their new state pension entitlement #tellRick
19. #tellRick clicks “Find Pensions”. This actions sends a request to an API called MyPensions
20. MyPensions API runs on same infrastructure used for our Integration Hub #tellRick
21. This is real code on real infrastructure #tellRick
22. As 1st-time user, #tellRick is now searching across all the Providers configured to be on the service
23. As #tellRick clicks search status, the results-wheel graphic updates. We've a complete status of matched policies
24. The engine is highly parameterised and Providers can be added and configured very quickly #tellRick
25. In the PoC, #tellRick has 3 pensions returned, plus his state pension entitlement
26. For DB & DC pensions; data requests are developed as a 2 stage API approach. 1st Find pensions, 2nd invoke Valuations API #tellRick
27. For #tellRick, the ‘Find’ processes has resulted in matches & so policy reference numbers are returned
28. For #tellRick, the DC Pension Valuation Data returned is actual test data coming from Provider 2
29. This demonstrates full end-to-end integration #tellRick
30. It is also possible for #tellRick to drill down to more detail for each policy returned
31. For #tellRick, the DC Pension Value Data is supplied using Origo Contract Enquiry via the Integration Hub
32. The Contract Enquiry message is converted to Open API data standard format for return to the dashboard #tellRick
33. This demonstrates capability in 2 areas (1) Implementations of Open API & data standards for dashboards and… #tellRick
34. (2) Integration Hub as Integration Service Provider, leveraging Providers investments in Contract Enquiry Standard #tellRick
35. Valuation data on dashboards enables Projection tools #tellRick
36. Valuation data can be exported to other financial planning tools #tellRick
37. Valuation data can be exported to the client’s adviser #tellRick
38. Valuation data enables consumers to make informed decisions about their future
39. Now for Scenario 2: #tellRick as a returning user
40. When #tellRick clicks the “Find Pensions” button the dashboard now gets a very quick response using data from the last search
41. We can also give #tellRick guidance / place controls on when to search again. Check it out
42. Pensions industry wants to be efficient & cost effective when Finding & Valuing pensions #tellRick
43. Industry must consider +20mil users making frequent requests for valuations, via mobile apps / dashboards #tellRick
44. This is just the beginning for #tellRick…
45. In the future, a dashboard may hold more financial information for #tellRick. Including assets, protection, mortgages, savings, etc.
46. Thank you for joining #tellRick & watching this special Twitter version of the Data Feed Engine PoC. Our 3 key objectives are:
47. 1-To bring to life the Proof of Concept & help engage the pensions industry in this topic #tellRick
48. 2-To continue to develop & show the features of the Proof of Concept with the industry & Project Working Group #tellRick
49. 3-To encourage more companies to integrate & work with us as part of the Proof of Concept #tellRick
50. Here is a summary infographic of the Data Feed Engine Proof of Concept for pensions dashboards #tellRick
51. Your feedback on this working PoC would be greatly appreciated & will help us refine further as we progress #tellRick
52. If you would like to receive the full demonstration, please PM us #tellRick
You can also view the full journey on our twitter feed >