In a letter sent to registerable superannuation entity (RSE) licensees on 10 April 2019, APRA and ASIC reinforced the importance of oversight to ensure fees charged to members are correct and in their best interest. This included a range of issues and ‘approaches for actions’ to address the oversight.
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Tom Seel is the product lead at QMV and has been involved with Investigate since its inception. He is passionate about data and data-centric projects having been involved in numerous data migration and data remediation projects throughout the superannuation industry.
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QMV is extremely honored to have our data quality technology, Investigate named as a finalist for Compliance Innovator of the Year at the 2019 Fintech Business Awards. The nomination is very timely given the findings of the royal commission and the appetite for raising benchmarks across the industry.
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The 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.
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Data 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…
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Many super funds are investing heavily in data profiling and predictive analytics solutions which promise to unlock a tidal wave of insights, often geared toward improving “member engagement”. Indeed, the term “actionable insights” has been dropped countless times across the latest financial services conferences.
But mostly, these analytics solutions are just providing more data — not insights – and it is no wonder.
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The 2018-19 Commonwealth Budget contains more than meets the eye when it comes to the superannuation and pensions system. Before looking at what was announced, it is worth briefly reflecting on a few anticipated announcements which were not included.
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The 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.
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The 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).
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A 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.
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Data 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.
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New 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.
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I 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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“If we had known THAT, we would have made a very different decision” – a data quality story I hear all too often when working in superannuation and wealth administration...
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Is competition in superannuation a driver of efficiency and innovation or a costly distraction? Please join the QMV Super Community in a moderated panel discussion with an open floor...
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The Federal Government announced a number of significant superannuation reforms in the 2016 Federal Budget in an attempt improve the integrity...
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Is competition in superannuation a driver of efficiency and innovation or a costly distraction? Please join the QMV Super Community in a moderated panel discussion with an open floor...
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Many have speculated that blockchain technology will supersede the inefficiencies of superannuation administration in one glorious rebirth...
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