WTW completes 5,000 transfers worth over £400 million via ViaNova

Willis Towers Watson has reached a landmark milestone by completing 5,000 electronic cash pension transfers, with a combined value of over £400 million, facilitated by ViaNova’s open standard market practices.

The transfers were processed end-to-end using the TeX trust framework with strait through processing in place and little manual intervention required. The average pot value of £80,000 evidences that the solutions that ViaNova promote are working in the real world and capable of delivering real value to members with pots of all sizes.

This milestone represents a significant vote of confidence in the automation and reliability of open standards, which demonstrates that the industry's shift away from proprietary and paper-based transfer processes is well underway.