As of December 2024, superannuation assets have skyrocketed to an impressive $4.2 trillion In Australia!
As superannuation grows in scale and the population ages, more people will need retirement planning services to retire well. Providing a great member service is also increasingly important to how well superannuation services respond to the challenge. Personalisation counts and data-rich and real-time payments can help manage new superannuation needs.
Many superannuation and Australian retirement funds struggle with legacy systems and fragmented processes, particularly in member administration services. Digital transformation offers several solutions to improve the efficiency and effectiveness of superannuation services by investing in technology automation, and robust compliance frameworks to reduce costs, improve services and earn trust.