JP Morgan has bought a minority stake in workplace pension provider Smart Pension.
The exact size of the investment was not disclosed, but it is included in Smart Pension's new funding round, which raised some £50m so far.
JP Morgan joins Legal & General Investment Management, which bought a minority stake in the provider in 2016.
Smart Pension is looking to take its savings platform technology into new markets, and is now "in early-stage conversations with new strategic partners", it said.
The provider announced in October that it had won an international tender to deliver a platform for New Ireland Assurance.
Launched in 2015, Smart Pension has currently around half million members.
Andrew Evans, Smart Pension co-founder and chief executive, said this deal was a positive step in the provider's growth and international reach.
He said: "From the outset our objective has been to put user engagement and experience at the heart of everything we do, utilising technology to build an unrivalled platform.
"Our journey has just started, the opportunities to disrupt and do things differently in this sector are staggering, and we will be leading the way."
Anne Lester, global head of retirement solutions at JP Morgan Asset Management, will take a non-executive seat on the company’s board.
She said: "We are investing in pensions and savings solutions and technology capabilities to help investors achieve better financial outcomes, reinforcing our commitment to putting clients first in every aspect of our business.
"Smart Pension has demonstrated how financial technology can have a positive impact by making it easier both for people to save for retirement and for companies to offer pension plans to their employees."
In June Smart Pension received a £15,000 fine from The Pensions Regulator for failing to report nearly £900,000 of unpaid pension contributions.
maria.espadinha@ft.com
