iPensions has made significant inhouse investments in technology as part of its growth strategy, but has now chosen to partner with Rackspace in order to focus on innovation and development of the business.

Rackspace is an end-to-end multi-cloud technology services company. It will provide the backbone private cloud infrastructure and security solutions for iPensions’ digital platforms and client solutions.

Hrishi Kulkarni, group chief technology officer at iPensions Group, said: “With significant growth plans and increase in demand for our digital services, we needed a trusted partner to provide a robust, reliable and agile infrastructure.

“Rackspace Technology gives us all the support we need as we scale, and its expertise allows our team to focus on building the digital solutions our customers demand. From our adaptability to our security, Rackspace Technology is enhancing all our technological operations and, in turn, the overall user experience and confidence.”

iPensions aims to drive technology-focused solutions within the SIPP market. The firm rebranded from Momentum Pensions last year.

The company launched The Platform SIPP in September to enable advisers and clients to consolidate their pensions into an online managed SIPP solution.

The Platform SIPP includes 2,500 investment options including funds, investment trusts, ETFs, and cash/deposit accounts. It is available to UK and non-UK residents.

The Platform SIPP was the first proposition launched following the appointment of the firm’s new group CEO Sandra Robertson in May 2020.