Comprehensive beneficiary verification, administration & payment

Comprehensive

end-to-end unclaimed benefits administration & payment

GET IN TOUCH

Use our digital technology to automate your admin and change the way beneficiaries search for and claim their unclaimed benefits. Speed up processes, reduce costs and improve the outcomes. You’ll have delighted customers and armies of brand ambassadors!

An End-to-End Solution

Made Simple

There are two simple ways to reach beneficiaries...

Our Fast Track process matches beneficiaries with our banking partners and facilitates a straight through payment to verified active bank accounts 

Our Standard process allows beneficiaries to claim their benefits via our Robin Hood App and walks them through a stringent self verification process before paying out their benefit to an account of their choosing.

Simple

Comprehensive

We provide a full managed solution that covers tracing, processing, compliance, payments, and reporting. All done for you.

Completely Digital

Completely Digital

Our solution is fully digitised, thus ensuring efficient processing that delivers results quickly and accurately, while keeping you informed and in control.

Seamless

Reduced Cost & Effort

We’re much more than a tracing service. The fees we charge cover the full end-to-end process, freeing up your team from the effort and cost of processing beneficiary payouts.

Fast Payouts

Faster Payouts

By digitising the process and optimising certain steps we’re aiming to process payouts in days not months, leading to happier beneficiaries, and quicker settlement of the massive unclaimed assets backlog.

Safety & Security

Fraud & Risk Prevention

Robin Hood is acutely aware of the heightened risk of fraud when dealing with large books of unclaimed benefits, and has implemented numerous controls to prevent or mitigate incidents.

Hassle Free

Regulatory Compliance

Robin Hood remains fully compliant with all regulations, and also undertakes certain compliance tasks on behalf of Asset Holders. Please speak to us to find out more.

Robin Hood’s strategic partnership with Standard Bank is a key enabler to us redefining the way unclaimed benefits are solved. 
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Robin Hood & Standard Bank are pioneering a more efficient and cost-effective verification and payment solution, allowing us to locate, process, and pay beneficiaries faster and at a scale never achieved before.

Our Investors

Our investors include a team of innovative entrepreneurs, business leaders and experts spanning fields from finance and banking to technology innovation. All with a shared purpose to help South Africa and its people thrive.

Mcebisi Jonas

Author, political leader, strategist, passionate reformist and corporate leader.

Rowan Gordon

Facilitator, driver and founder of some big small businesses.

Michael Jordaan

Reformed banker, venture capitalist, backing 25 startups that solve problems, wine enthusiast and lazy mountain biker.

Haroon Bhorat

Professor of Economics at UCT, member of the President’s Economic Advisory team, Board member at Sygnia and Pick n Pay and budding entrepreneur.

Remo Lenisia

Developed, built and sold the leading credit bureau in Sub-Saharan Africa, passionate wine maker and explorer of the seas.

Interested in

Joining our list of Asset Holders?

Hassle Free

Cost Effective

Hassle Free

Faster Payouts

Hassle Free

Fully Compliant

GET STARTED
Managed Claims

News & Articles

Powerful Economic Stimulus: Unclaimed Benefits and the 'Two-Pot' System

Powerful Economic Stimulus: Unclaimed Benefits and the 'Two-Pot' System

A large portion of financial assets are either locked away in retirement funds or sit dormant in unclaimed benefits. This wealth represents a missed opportunity for economic growth and individual financial empowerment.

September 19, 2024

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4 min

The Unpaid Benefits Campaign

The Unpaid Benefits Campaign

All we know about the Unpaid Benefits Campaign and how they are helping.

July 29, 2024

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2 min

The Unclaimed Billions: Investigating South Africa's Pension Fund Dilemma

The Unclaimed Billions: Investigating South Africa's Pension Fund Dilemma

The "Who Profits from Unpaid Pensions? An Open Secrets Investigation" report, published in November 2019, dives into the complex issue of the disturbing R42 billion in unclaimed pension benefits owed to 4 million South Africans.

July 5, 2024

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2 min

Frequently Asked Questions

How is Robin Hood helping Asset Holders?
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Robin Hood is a digital solution company founded by a team of innovative business leaders and powered by Standard Bank.

 

Through their commitment to helping South African’s thrive, the Robin Hood team has built an end-to-end solution which solves a societal need and connects beneficiaries with their unclaimed benefits.

 

We have created some great tech and teamed up with industry stakeholders to help you, the Asset Holder, locate, verify, and finalise a beneficiary payout in a fraction of the time.

 

Get in touch with us and we will explain the ins and outs of how it all works!

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What does the Robin Hood solution involve?
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Robin Hood has developed two processes, a Fast Track option which is appropriate for low value payouts where the beneficiary banks with one of our partner banks. In this scenario we do all the locating, matching and verification behind the scenes to pay beneficiaries automatically.

 

The second, is our standard self-service process. We have developed a mobile app where beneficiaries can search our active unclaimed benefit vault, locate their benefit and can then follow an accelerated claim process with Robin Hood.

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Does Robin Hood replace tracers, or can they coexist?
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Any existing tracer relationships can continue in parallel but we think that once you have experienced the Robin Hood end-to-end service, you will see that we offer a lot more than just tracing.

We can coexist with tracers, but would need certain processes in place to prevent double payments or duplication of effort.  

How does a beneficiary register with Robin Hood?
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To start we have kept it simple– all they need is an ID number and either a mobile number, or an email address- not both.

 

Once a benefit has been linked to a beneficiary we will need the them to download the mobile app, go through a full ID verification process before starting the claim process.

 

The claim process is customisable based on the Asset Holder’s needs, but typically includes consent, FICA, tax directives (if applicable), bank account election (which we verify), compliance sign off and payment.

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How does Robin Hood handle deceased estates, minors and foreigners?
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Right now, Robin Hood is focused on serving people digitally with South African bank accounts using modern mobile technology.

 

Matters involving beneficiaries who are deceased, minors or foreigners are a lot more complicated and we will work towards add this feature in the future.

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Can someone search on behalf of another person or family member?
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Yes, they can. However, only the actual beneficiary may claim the benefit.

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Besides withdrawal, does Robin Hood handle the transfer of pension benefits to another pension fund?
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When claiming via the mobile app the only option currently offered is to receive the benefit in cash.

 

As part of the Fast Track process, Robin Hood will offer the beneficiary the opportunity to opt-out of receiving a payout and refer them back to the fund for further assistance.

What happens if ID verification fails?
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The case will be reviewed by a support agent who will assist the beneficiary where possible.

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What happens if KYC/AML verification fails?
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If we are unable to complete the appropriate KYC & AML verifications, the case will be reverted back to the Asset Holder.

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What happens if someone does not have a compatible smartphone?
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Robin Hood will be launching a web-based claim process for users without a smartphone.

As an Asset Holder, what level of reporting is available to asset holders?
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We will offer a full suite ofreporting which will give the Asset Holder detailed visibility on all matters,including successful and unsuccessful payouts.

 

There is a full audit trail of the transactions Robin Hood completes on your behalf. We track and record all activities, events, and user interactions for audit purposes.

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What happens if the benefit value changes mid-way through a claim process?
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Our processing time is significantly faster than the current methods, which ensures very little risk of the value changing. The value of the claim is the last piece of information we double check before paying out the benefit and depending on the type of benefit, and the stage of the claim process, this is handled automatically by the system, or manually as an exception event.

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Does the beneficiary need a tax number?
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Tax directives are needed to finalise pension payouts, Robin Hood is able to assist should the beneficiary not have this information.

 

There are several steps of data enrichment which may supply us with the tax number if the beneficiary does not have it on hand, alternatively the beneficiary can follow the easy steps to retrieve their number directly from SARS.

 

The appropriate amount of tax is deducted, and the beneficiary is paid out the balance. A IRP5 will be generated for the beneficiary and stored for their future use.  

What sort of flexibility does the Robin Hood solution give Asset Holders?
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The claim process can be customised according to the Asset Holder needs, including a customised consent message.

 

Asset Holders also have an option for a flexible approval process. This means you can decide at which threshold you review and approve each beneficiary payout, and which can be more automated.

Is the personal beneficiary information safe when entered on the website?
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Robin Hood is committed to protecting personal information and adheres to strict privacy standards. We only process the information in a lawful and responsible manner that will not infringe the beneficiary’s data privacy.

 

The principles we employ to protect personal information are in line with the POPI Act, our company code of ethics and other applicable laws, rules and standards.

 

Any collection of personal information is only used for its intended purpose - to reunite beneficiaries with unclaimed assets, as we find them.

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How is the data protected and where does it reside?
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Our platform uses an industry standard level of encryption to secure any data entered so that all information remains confidential and is not accessible by unauthorised parties.

 

Robin Hood platform and all data is hosted by AWS South Africa.

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*If you have further questions, please Get in touch

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‍Corporate Partner

Get in touch for more information

+27 21 830 0750info@robinhood.org.za
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