Digital bank Revolut announced on Thursday it has teamed up with authorized by the pensions regulator, Smart Pension, to launch its new business pension offering. Users will now be able to set up their business accounts and pension auto-enrolment within minutes through this collaboration.
“When you sign up for a Revolut for Business account before April 30th 2020, your employees receive a preferential rate on their pension fees. Workplace pensions and automatic enrolment are compulsory for businesses across the UK, and the introduction of Direct Debits combined with the Smart Pension partnership means that paying pension your pension contribution and meeting your auto-enrolment obligations has never been easier.”
Speaking about the partnership and functionalities, Will Wynne, co-founder and MD at Smart Pension, stated:
“This is a great fintech partnership. Both organizations’ aim is to use technology to make life easy for people.”
Vaidas Adomauskas, Head of Business Product at Revolut, also commented:
“Our new partnership with Smart Pension makes it easy for our business customers to meet auto-enrolment requirements for eligible members of their companies. Not only can account holders take advantage of this preferential rate from Smart Pension, but they can set up both a business account and get pensions up and running in minutes. This partnership is a game-changer for our customers.”
Revolut went on to add that 2019 has already been a huge year for its platform. For business account holders, the company added free accounts, 24/7 customer support, end-to-end expense management in app, multi-accounts login, and integration with QuickBooks.