In a world driven by digital innovation, moving money around efficiently and in a timely fashion has become a customer expectation. The efficient and timely transfer of funds is no exception. However, all too often, individuals encounter frustrating delays when accessing their savings, investments, and pensions. Recognising this industry-wide challenge, the STAR awards scheme was launched to improve electronic transfers.
Now, in its second year of accreditations, the STAR initiative continues to tackle delays and ensure a seamless transfer experience for consumers. In April 2023, 27 brands were awarded STAR accreditations across four groups (Asset Managers, ISA/GIA, Occupational Pensions and Personal Pensions SIPP and SSAS).
The STAR awards occur annually, however, during the first few years there are multiple accreditations to encourage and enable organisations to participate who have missed the annual deadline. This will change over time.
Awards
We are pleased to report that a further five brands (eight awards) have received an award.
| Organisation | SLA Group | Award |
|---|---|---|
| abrdn | Asset Managers | Gold |
| Ninety One | Asset Managers | Gold |
| Royal London | Asset Managers | Gold |
| abrdn | ISA/GIA | Gold |
| Hargreaves Lansdown | ISA/GIA | Gold |
| Prudential | Occupational Pensions | Silver |
| Hargreaves Lansdown | Personal Pension, SIPP and SSAS | Gold |
| Prudential | Personal Pension, SIPP and SSAS | Bronze |
As the STAR accreditation scheme progresses into its fifth year and beyond, the focus on expediting electronic transfers will remain a focus. The continued growth of accredited brands highlights these organisations dedication to improving transfer times and efficiencies. By fostering healthy competition and encouraging best practices, STAR is fostering an ecosystem where customers can confidently access their savings, investments, and pensions without the frustration of unnecessary delays.