Moneyhub powers up the ‘Connected 20s’


Graeme Bold

Graeme Bold

Workplace Pensions Director

Pension members can now see all their finances and their pension in one place.

We’re not quite halfway through the so-called ‘Connected 20s’, the decade tech finally comes into its own to help people manage their day-to-day lives, including their money, savings and pensions.  

The decade when the government’s pension dashboard is expected to finally launch, giving people more control and helping to reunite those millions of lost and mislaid pensions with their owners.  

Ahead of that, we’re partnering with fintech specialist Moneyhub to power up how people manage their finances now. From February 2024, our pension members can see all their finances and their pension in one place, a single front door into their finances, in the Scottish Widows app. 

It builds on the hive of activity we’ve seen over the past year as people view their pensions, check their balance, name beneficiaries and switch funds in the highly-rated Scottish Widows app. 

Moneyhub’s open finance

Plugging Moneyhub’s Open Finance APIs into the Scottish Widows app connects data from up to 500 providers to show people their pensions, bank accounts, investments, credit cards, mortgages, and savings.  

It gives people the ability to look at their bigger financial picture to make the most of their money today and plan for their future. As Sam Seaton, Moneyhub CEO, said at the recent Scottish Widows adviser summit in London (photo below) it’s all about making finances easier for everyone. They might not know what APIs are. They don’t care about the tech jargon but at its simplest it’s helping them with their everyday money so that they can feel connected to their finances and save for their future.  

Graeme Bold, Workplace Director; Moneyhub CEO Sam Seaton, and Phil Allen, Scottish Widows digital strategy.

Graeme Bold, Workplace Director; Moneyhub CEO Sam Seaton, and Phil Allen, Scottish Widows digital strategy, discuss Moneyhub at the recent adviser summit.

Lloyd’s Banking Group (LBG) customers have been able to see their pension next to their bank account online or in the LBG retail brand banking apps for some years now. It’s something we’re proud to have done at a scale never been seen before in the UK, with 2 million customers viewing their pension on their banking app each week.  

We see that in how people log-in to their Lloyd’s Banking Group (LBG) banking app on average 26 times a month. There are around 6 billion LBG digital logins every year, and growing, showing how rapidly the ‘Connected 20s’ is taking off, led by digitally savvy Millennials and Gen Z-ers – and even Gen X’ers like me. 

Being able to see their finances all in one place in our app puts the Moneyhub technology at the heart of people’s finances now and in the future. We’ll be adding more features such as nudges, based on customer-led insights and connections to unique product offerings such as Moneyhub. 

We want to learn from members, and using their insight we’ll keep making our app even better with personalisation and tools, so that even more people use it regularly and get into the habit of engaging with their day-to-day money and wider finances, including of course, their pension.  

Connected 20s? Just think what we’ll be able to do by the end of the decade.