The pension dashboard should hand full control over data access to the consumer, not government or providers, technology provider Origo has said.
The firm, which has been developing the underlying technology for the pension portal, alongside other providers, said new technology around application programming interfaces (APIs) and user-managed access (UMA), an open security standard, could pave the way for one of the most innovative dashboards ever developed.
The government is to decide which shape the dashboard will take in a feasibility study expected by the end of May.
It is as yet unclear whether there will be a single dashboard or provider-led multiple dashboards and who will have control over access to people's data.
Origo said new technology could give consumers advanced consent while removing the need to store data in one centralised place.
It would also allow dashboards to be provided to consumers through trusted brands including banks, platforms and other financial institutions.
Anthony Rafferty, managing director of Origo, said:"The UK has the opportunity to implement a world-leading pensions dashboard architecture based on open APIs and the UMA open standard.
"Importantly, we can create a user experience that is better for consumers and thereby better engages them with their pensions."
Kenneth May, chief architect of Origo, said using UMA was a "game-changer".
Mr May said: "It allows us to introduce a level of API-enabled connectivity and secure, permissioned access to data never seen before in our industry.
"Privacy and security is at the heart of the solution - it is a world-class approach to the benefit of the consumer."
He said the firm had learned from dashboard implementations in other European Union countries, which were often single solution models managed by public/private partnerships.
"From research and discussions with these organisations, we understand there is now demand for these solutions to be opened up to enable API models to access the data they hold for other fintech and financial provider channels."
Kusal Ariyawansa, chartered financial planner at Appleton Gerrard Private Wealth Management, agreed with handing access control to consumers.
He said: "Ideally people should be in control of their assets. It is up to the client to agree with an adviser whether their advice is needed and that it is OK to earn from them in return for providing a service."