December 18, 2024
The future of superannuation is being shaped by cutting-edge technology, innovative thinking and a desire to provide better services for members.
Over the past few months, our Australia team has been immersed in the sector, uncovering the challenges super funds are facing and the vital role technology has to play in 2025.
From optimising cloud infrastructure and building effective data platforms to exploring AI and improving customer experience, technology has been a top talking point at industry events.
The team spent three incredible days at the ASFA Conference in Sydney in November, gaining thought-provoking insights and fresh perspectives on the challenges facing the superannuation industry. As one of the largest pension events in the world, the ASFA conference brings all sectors of the superannuation sector together with the aim of improving outcomes for fund members.
With the conference theme of “Inspiring Excellence” in mind, we focused our activities on digital transformation journeys, exploring how technology can play a vital role in super funds, no matter which stage of the process a fund is at. From starting with a digital health check and building a solid technology foundation to utilising cloud technologies effectively and engineering data platforms for AI, our team aimed to inspire funds with the transformative power of technology at every step of the journey.
One aspect that ignited discussion at the Equal Experts stand was the demonstration of our AI-enabled customer complaints handling proof of concept. Complaints handling is a complex challenge for funds, with strict regulations, tight timelines and rising number of complaints. Our concept simplifies this process, using AI to analyse unstructured data from multiple customer channels, categorise complaints and provide handlers with actionable next steps, response templates and a timeline – all aligned with AFCA regulatory requirements.
Demonstrating a real-world application for AI this cutting-edge technology can help funds deliver better, faster responses that improve customer service while maintaining regulatory compliance.
Building on the insightful discussions at the ASFA Conference, we continued the conversation at our own Expert Talk event in Sydney in December: Future-Proofing Super: The Benefits of Next-Generation Tech on Members, Funds, and Regulation.
Our exclusive event brought leading industry experts together to discuss how AI, cloud solutions and advanced data architecture are reshaping superannuation.
I had the pleasure of moderating the insightful discussion from our panel of speakers::
The speakers highlighted the impact superannuation has on every Australian and that educating, informing and engaging members throughout their lives is vital. The more informed and engaged members are in their finances earlier in the lives, the more likely they are to make contributions and benefit from the power of compounding interest.
Technology has a role to play in this work, but it goes beyond simply building great digital and online experiences. Super funds also need to embed technology into their processes and access accurate up-to-date data about their members so they can provide the best support at the right time, keeping members engaged and informed at every stage of their superannuation journey.
Through the sale of event tickets, we also raised $500 for the Aboriginal Investment Group’s Remote Laundry Project, a fantastic cause giving remote Aboriginal communities access to free laundry services to improve health and social outcomes.
The superannuation sector is at a pivotal moment and 2025 will undoubtedly hold more challenges and opportunities for funds. Technology has the potential to be a game-changer, unlocking greater value for members, maintaining regulatory compliance and improving internal efficiencies.
If you’re interested in accelerating your digital transformation journey or unlocking the potential of cutting-edge technology in 2025, contact the Equal Experts Australia team.
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If you’d like to find out more about working with us – get in touch. We’d love to hear from you.
