Recent government standards and regulations such as Your Future, Your Super reforms (YFYS reforms), performance tests and member-best financial interest and outcomes assessments have left funds struggling to initiate and manage member engagement activities effectively and efficiently.
Current Challenges within Superannuation
With restrictions on advertising and sponsorship options, funds are challenged to find ways to differentiate, attract new customers and retain existing members. Yet, industry consolidation forces increase pressure for funds to operate smart and effectively to ensure members are well informed and serviced.
From a Customer Experience (CX) perspective, SPS516 and SPG516 have significant impacts on the capability of current technology solutions within funds. This challenges in-house skills and the ability to execute with speed whilst maintaining compliance with SPS216. Typically, disconnected data sources and missing interaction tracking across platforms and distribution channels are the key challenges for effective and compliant member outcome marketing.
With the speed at which new MarTech platforms enter the market, a compliance and member outcome-focused enterprise solution is key to today’s digital transformation programs for the Superannuation and Financial Service industries.
We've published a case study that shows a holistic enterprise marketing and technology model that allows Super Funds and Financial Service Providers to operate at speed, maintain compliance and provide certainty. It ensures member outcomes are measured, and demonstrates improved Registrable Superannuation Entity (RSE) efficiency, transparency, and accountability for annual assessments.
Download the white paper HERE