Raindrop provides automated pension tracing technology to help businesses locate lost pension pots efficiently. Their platform offers smart employer-to-scheme matching and automated dispatch of Letters of Authority for policy processing. This service enables financial advisers and providers to enhance customer engagement and streamline administrative workflows.
Funding
$4.7M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Many individuals in the UK accumulate multiple pension pots throughout their working lives due to auto-enrolment regulations and changing jobs. Finding and managing these disparate pensions can be a complex and time-consuming process, especially with data mismatches and the nuances of different pension schemes. This complexity prevents individuals from effectively consolidating and managing their retirement savings.
Solution
Raindrop Technologies offers a white-label pension finding solution that automates the process of reconnecting individuals with their lost pension pots. The platform uses an advanced pension tracing engine with smart employer-provider matching and intelligent communication centralization to streamline pension recovery. By automating key steps, Raindrop significantly reduces the time and effort required for individuals and financial service providers to locate and manage multiple pensions. The system also includes automated letter of authority generation and response processing, further accelerating the pension finding process.
Target Audience
Raindrop's primary customers are pension providers, investment platforms, fintech companies, and financial advisors seeking to offer pension tracing services to their clients.
Features
- Automated pension tracing engine with smart employer-to-scheme matching using a proprietary database.
- Bespoke letter of authority generation tailored to individual providers' requirements, dispatched via email, post, or online form.
- Centralized communication platform for managing all interactions between customers, employers, and pension schemes.
- Automated response processing to extract key information from pension policy documentation.
- White-label solution with a dedicated customer portal and end-to-end case management.
- Flexible API integration for existing customer journeys.
- GDPR-compliant design with bank-grade security, including AES 256-bit encryption.