Criterion standards and governance services help companies across UK Financial Services to work together to integrate processes, improve efficiencies and deliver great outcomes for their customers.
Criterion manages data integration standards that make it easier than ever for customers and Advisers to open Investment Platform accounts. Criterion's Common Declarations transforms pension transfer processes by eliminating standalone discharge forms, saving time and money for all involved. Criterion's governance services help insurers work together to improve the accuracy of annuity quotations, getting the customer and Adviser the right price, first time.
Criterion delivers focused expertise that balances deep experience with fresh innovation. This requires diligence and attention to detail that responds flexibly to new commercial, legislative and regulatory demands. Its independence gives Criterion freedom to act in the interest of all stakeholders.
All this combines to define the Criterion Way: a sustainable toolset of skills, processes and approaches, refined over nearly 30 years and proven to deliver high-value standards and governance and to ensure their ongoing effectiveness and relevance.
Criterion Common Declarations have helped cut end-to-end times and costs for more than 2.2 million pension transfers since 2008, worth more than £110bn.
They provide a framework that enables the receiving scheme to capture all the data and consent needed by the ceding scheme to process the transfer without the need to seek further discharge from the client. This saves time for the client, and costs for both ceding and receiving schemes.
Criterion works with the Pensions industry and legal experts to develop and evolve the Declarations, and co-ordinate implementation and facilitate governance across more than 95 market-leading pensions brands.
That’s the Criterion Way.
If you’re a pension scheme, provider, trustee, manager or administrator who wants to take time and cost out of your transfer processes, you can get the Criterion Common Declarations free of charge.