Often, large scale data activities like generating annual statements requires data being transferred between systems and external providers. This can leave superannuation administrators exposed if they are experiencing data quality issues leading to loss of reputation and increased rectification costs.
Read MoreMost organisations don’t plan for remediation, their approach is often disjointed, reactive and inefficient. As leaders in remediation, we understand the importance of accuracy, timeliness and communication. At QMV, we believe specialised remediation experts with developed processes, calculation models and the right technology can fast-track remediation work, deliver quality outcomes and reduce costs.
Read MoreA high-performance mentality that promotes collaboration and information exchange is fundamental to realising a fund’s key objectives like developing tailored strategies and products, better meeting member expectations and various uplifts across automations, data quality, emerging technologies and compliance.
Read MoreHeightened merger, successor fund transfer and digital transformation activity in superannuation has seen QMV reach the 500 milestone in transition capability. To mark this achievement, we have interviewed a mix of our most experienced transition experts on their personal approach, important traps to be aware of and of course the secret sauce!
Read MoreMost executives and most CEOs recognise that data is their most valuable asset, yet a very few actually understand and invest in it. Often no one actually knows who's accountable for it because data often isn't a business unit. Data is needed and held by every part of the business.
Read MoreThe Hayne Royal Commission raised a question mark over the quality of customer data held by financial institutions and emphasised that action after the fact via costly data remediation events was not good enough. In a post royal commission world, it is important to know why customer data is so prone to error.
Read MoreTrustees regularly put their administration up for tender and a successful bid often results in a fund migration. This may be between administrators or just platforms within an administrator. Each migration is unique and presents its own set of challenges and disruptions…
Read MoreContact centres are a hot topic across financial services as institutions look to dominate the customer experience race. The drivers come as a result of higher customer expectations, competitive advantage and the need to rebuild trust post royal commission.
Read MoreData remediation activities in financial services will never cease. The best that can be achieved is significantly reducing the frequency and scope of remediations over time. This paper is a brief discussion of the triggers, execution and controls associated with data remediation events and can be applied to superannuation, wealth management, banking and insurance.
Read MoreThe risks of managing other people's money have been laid bare over the course of the ongoing Royal Commission into Misconduct in the Banking, Superannuation and Financial Services. Taking a closer look at the internal control environment is a sensible place to start rebuilding trust.
Read MoreThe phrase “Offence sells tickets, but defence wins championships” has been used by many great coaches across the sporting landscape. In recent times, this concept has spread from the sporting field into the white-collar world.
Read MoreData recently released by APRA provides a high-level picture of the trends in operational expenditure by most large superannuation funds in Australia.
QMV’s analysis of the data shows that since 2004, with the growing scale of assets within the superannuation system means…
Read MoreThe superannuation industry should prepare for an “open super” regime in the next few years, in light of current moves towards “open data” and “open banking” and the fundamental shift in the balance of power in the information economy, says Jonathan Steffanoni, principal consultant – legal and risk at QMV.
Read MoreThe underlying truth of ASFA 2017 was that if your data quality is not there, there is nothing a superannuation fund, insurer, bank or any company can do with any degree of success or comfort that it is fail proof (be that decision making, innovation, transformation or just good governance).
Read MoreA continued regulatory focus on member outcomes will dominate the superannuation industry in 2018 and contribute to the continued consolidation of funds, says Mr Jonathan Steffanoni, Principal Consultant, Legal & Risk, QMV.
Read MoreData errors are costing the superannuation industry, and its customers, millions of dollars every year with poor data spreading like a disease through the system, says Mark Vaughan, managing director of QMV.
Read MoreNew to the ASFA Conference 2017 is the ‘ASFA Live Site’ which offers delegates the opportunity to see the conference's most anticipated sessions streamed live throughout the conference. Live Site sessions hold up to 96 delegates and are 15 minutes in duration.
Read MoreI really enjoyed the opportunity to speak at ASFA’s Spotlight on Member Engagement Forum held this week in Sydney. My task was to discuss how trustee approaches to member engagement would be influenced by the rise of
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