Moreover, there is appetite for such developments from Standard Life's consumers, a sizeable proportion of whom are primarily engaging with their pensions and savings digitally using the company's app.
Data from Standard Life showed high levels of engagement among all age cohorts of members who were exploring their pensions pots digitally.
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According to Young, in the past 12 months there have been more than 1mn unique users of the app, with the fastest-growing cohorts of users among the 25-45s and the over-65s.
"We are seeing an increase in people becoming registered, as well as people who have been registered continuing to come back to use the app", Young added.
simoney.kyriakou@ft.com
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