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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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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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.  

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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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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Yes, they can. However, only the actual beneficiary may claim the benefit.

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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.

The case will be reviewed by a support agent who will assist the beneficiary where possible.

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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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Robin Hood will be launching a web-based claim process for users without a smartphone.

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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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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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.  

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.

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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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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