• Standard Bank is teaming up with Robin Hood to return unclaimed assets to South Africans.
• These assets total R90 billion and are predominantly in retirement funds.
• As part of a pilot the pair will be working on Liberty’d unclaimed pension book.

It’s very likely that if you think you have unclaimed assets, you just might. This is because according to Standard Bank and Robin Hood, there are unclaimed assets worth R90 billion floating around that the owners aren’t aware of.

The pair of companies wants to change this and so will embark on a mission to return those assets to their rightful owners through Standard Bank’s OneHub.

OneHub is simple solution that allows customers to get an overview of their investments from a single pane of glass. Standard Bank and Robin Hood will consolidate their data so that customers can easily claim their lost or forgotten funds.

“The Robin Hood platform, with its ability to consolidate unclaimed benefits data, is a game-changer. We are delighted to have the support of Standard Bank in delivering a robust and reliable solution that fundamentally enhances asset holders’ client service.” said Rowan Gordon (pictured), chief executive officer of Robin Hood.

Standard Bank says that incorporating the iiDENTIFii biometric identity capability into the Robin Hood solution through the OneHub API marketplace will make tracking down assets easier.

In 2022, the Financial Sector Conduct Authority (FCSA) reported that the majority of unclaimed assets were retirement funds. The Authority has been trying to address this growing problem and partnerships such as this one with Standard Bank and Robin Hood provide assistance in that regard.

“We believe that through partnership we can solve big industry problems faster, bringing the agility of a fintech together with the reach of Standard Bank puts us into a unique position to succeed in solving societal challenges” said Jonathan Lamb, Head of Channel & Partnerships at CIB Digital Standard Bank.

The first phase of this partnership will see Standard Bank and Robin Hood assisting Liberty address its unclaimed pensions so keep an ear out for developments in that regard.