Barclays teamed up with Smart Pension platform

Businesses that sign up through Barclays will be able to offer their employees access to the bank’s proprietary Global Market Funds

Barclays pension

Barclays teamed up with Smart Pension platform. Source: flickr.com

Barclays has announced a partnership with Smart Pension, the UK online pension provider.

According to the report, Smart Pension offers an online portal for both the employer and employee. That allows individuals to easily manage their participation in the scheme. The portal can be integrated with other administrative programs such as payroll, admin, reporting, and compliance capabilities.

Last year, the bank took a minority stake in retirement technology provider, Smart, as part of its Series C fundraising round to support its global growth, which includes entry into the US market.

This is an important milestone for us as a business. Not only do we get to offer Barclays customers a simple pension solution to ensure small businesses meet their auto-enrolment obligations, but we also have the privilege of calling them our partner through the strategic investment made. We are excited to see what the future holds for both of us but more importantly, we are excited to deliver the opportunity of a successful retirement for all participants
Jamie Fiveash, UK CEO at Smart

The collaboration is the latest in a series of strategic fintech partnerships announced by Barclays over the last few years. It has previously partnered with MarketFinance, Nimbla and Propel offering invoice financing, insurance products, and asset finance to thousands of Barclays Business Banking clients.

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