Welcome to Novigi’s Quarterly Report looking back at Q3 FY2025 — your regular dose of insights into the ideas and innovations shaping the intersection of technology, data, and wealth management. If you’re one of our regular readers, we’re thrilled to have you back; if you’re new here, we hope you discover something useful, insightful, and maybe even a bit entertaining along the way. So grab your coffee, find a comfy spot, let your coworkers know you’re officially unreachable for the next 25 minutes, and dive in. As always, we’d love your feedback — please don’t hesitate to reach out!
The Quarter at a Glance
Covered in this quarter’s report are:
Superannuation’s Underdeveloped Operational Infrastructure
The Conexus Institute’s report into the Systemic impacts of ‘big super’ asserts that the superannuation industry is grappling with underdeveloped operational infrastructure, and we agree. However — much like going to the gym after a few drinks — everyone feels there’s something wrong with it, but no one seems to know exactly what. In the first of what will be a series of articles, we share our thoughts on some of the key issues with the operational infrastructure that makes the superannuation industry work — when it works.
KYDSP – Know Your Data, Systems and Processes
ASIC Chair Joe Longo recently urged superannuation leaders to do more than simply ‘know your customer’ — they must also ‘know your business’. Central to achieving this is knowing your data, systems, and processes. Yet, many leaders find themselves distant from the operational heartbeat of their organisations, struggling to get accurate and timely information. Dashboards are often presented as the solution but frequently fall short. We explore how effective dashboarding, underpinned by robust APIs, quality data, strategic BI tooling, data literacy, confident processes, and healthy systems can empower leaders, enhance decision-making, and significantly mitigate operational and compliance risks.
Data, Investments, and a Total Portfolio Approach
The total portfolio approach (TPA) to investing warrants its own three letter acronym (TPA) despite proponents characterising it as more of a state of mind — a vibe, even — than a rulebook. Nonetheless, it seems to be working for investment managers — provided they have the right data and technology in place to support it. We take a look at what’s required to enable a successful adoption of TPA from a data and technology perspective.
Super Funds, Advertising and Employers
The latest draft Payday Super legislation clarifies when superannuation funds can advertise their wares to employees during onboarding. Since the introduction of stapling in 2021, we’ve seen funds getting more creative about how they can acquire and retain members. It’s become clear too, that there is still a lot of value in the employer-fund relationship. We examine how recent changes and innovations in the space are likely to translate into action by superannuation funds.
Time to Pull Your SOCs Up
The threat landscape in superannuation is rapidly evolving, posing greater risks for organisations of all sizes. Novigi has been watching, learning and thinking about how it can best serve the industry and the various solutions at play – specifically, Security Operations Centre (SOC) offerings. Before we jumped into solution mode, we needed to consult industry leaders, to understand what keeps them up at night, and what they want to see more of in the future. This article unpacks learnings from a series of interviews conducted earlier this year and shares the big insights that are guiding our thinking moving forward.
Getting on with Delivering Better Financial Outcomes (DBFO Tranche 2)
Both sides of politics seem keen for superannuation funds to play a greater role in providing financial advice. The latest package of financial advice reforms was recently released in draft, and we think it strengthens the case for funds to embrace digital financial advice as part of their offering to members. We discuss what collective charging, nudges and new guidance around client advice records mean for super funds and digital advice providers.
Super Reg Update
This quarter’s regulatory update is brought to you by Jonathan Steffanoni of Legal & Prudential Advisors.
M&A Update
A brief update on mergers and acquisitions. During Q3 FY25, there were several transactions that were announced, progressed or concluded.
The Quarterly - Q3FY25
The production of our quarterly report is led by Novigi’s Market Strategy and Propositions team:
Kevin Fernandez
General Manager, Market Strategy & Propositions
Sophie Coianiz
Analyst, Market Strategy & Propositions
This report was also strengthened by a wider group of Novigi specialists, whose withering years of toil and rich experience added depth and clarity to the perspectives shared.
Key Contributors:
Michael Quinn
Senior Partner
Kathy Taylor-Hofmann
Principal Consultant
David Short
Chief Operations Officer
Simon Tweedie
Executive General Manager, Workplace Technology
For more information about anything you’ve read here, or if you have a more general inquiry, please contact us.