While data is front of mind for most superannuation industry participants, we often see organisations that have a wealth of data, but don’t know what to do with it.
The rapid pace at which technology is moving is both disorienting and exhilarating. Just like the applications and devices themselves, the infrastructure used to facilitate the ongoing use and development of technology has seen its fair share of change.
The current pace of transformation in super administration is perhaps the fastest it has ever been. Driven by technological advancements and regulatory oversight, the pressures on superannuation funds are growing.
Welcome back to another year which will no doubt be a combination of uncertainty and silver linings. As we all fire up again, I wanted to tackle some topics that are on everyone’s mind, and provide some ideas that might inspire you to seek out the silver linings in the year ahead.
The recent cyber-attack on Regis comes as a loud, red-flag warning to all aged care and retirement providers. The sophistication of the ASX-listed aged care operator’s data governance systems and processes would no doubt be superior with a well-executed strategy.
Machine learning (ML) and artificial intelligence (AI) will disrupt all manner of industries, and superannuation will be no exception. Following on from the last ASFA discussion group on data science, Head of Data Services at Novigi, Terence Donnelly presents our latest blog on how ML and AI might find applications in superannuation, and what this will mean for funds.
In November 2017, the Australian Government announced their intention to create a Consumer Data Right (CDR). This was driven by a belief that consumers should own data about them, and that giving them access to and control over this data will lead to more robust and competitive markets.