The companies first started working together in late 2020 as PensionBee was preparing for its listing on the London Stock Exchange. It needed to review and prepare multiple documents and having compliance documentation in a single platform would help automate several processes.
Initially, PensionBee leveraged Clausematch’s editor to access a centralised view of all policies, procedures, standards and controls. The empowers its team to collaborate on documents in real-time and track any edits that are made, with a full audit trail. Additionally, staff members can interact with policy owners via a designated Q&A function.
Through this, PensionBee can review and prepare all its documentation, while reducing time teams spend low-value admin tasks.
The WealthTech company recently onboarded its second Clausematch solution, Policy Portal. This tool provides staff members with access to the most up-to-date company policies. Thank to this, everyone on its team can access the platform and read any new policies. They can also search the policy library and mark documents.
PensionBee CEO Romi Savova said, “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.”
Speaking on the partnership, Clausematch CEO and founder Evgeny LIkhoded said, “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 held its IPO in April 2021, with it reaching £365m valuation on the day.
Clausematch recently announced its services are now used by 90,000 Barclays Bank employees. Its technology has helped create policy hub, a digitised, central point of reference for all of Barclays’ policies and standards.
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