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Top social and technology changes and their impact on the SMSF sector
Introduction A number of years ago, Bill Gates presciently observed that: “Banking is essential, banks are not”. In the interim, we have seen the emergence and rising popularity of peer-to-peer lending, crowdfunding and new payment platforms, along with disrupters like Apple and PayPal, all pushing their way into the traditional banking domain. On the back…
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Technology and innovation: Priorities for the new era of superannuation
We conducted a poll of superannuation professionals at a recent conference in Melbourne, yielding some interesting results. We sought to ascertain the general sentiment in terms of business and technology priorities and what it will take to differentiate in this new era; post-GFC, post-SuperStream and post-MySuper – at the dawn of innovation. Reaching for the…
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Australian wealth management: What will be in 2014 and beyond?
2013 has been a busy but exciting year for the Australian wealth management industry. Thankfully though, the year has also marked the home stretch in terms of the recent spate of regulatory change; super funds are gradually getting their MySuper licences approved, the first part of SuperStream (rollovers) was implemented and the first Fee Disclosure…
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Harnessing technology to accommodate shifting trends in insurance distribution
Emerging diversity in distribution – what does this mean for technology? “Forward thinking insurers are leveraging distribution channels as one way to capture the opportunities that exist in the fast growing Asia Pacific markets” – More than one approach. Alternative insurance distribution models in Asia Pacific, Deloitte Touche Tohmastu, 2010. According to a recently published…
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Strategies for managing technology through the cycle
As optimism floods back into the Asia Pacific region, the life insurance industry is gearing up for increased competition again. Darren Stevens, Global Head of Product – Wealth Management, Bravura Solutions, discusses what CIOs are saying in this new business environment and the IT strategies needed to support life insurers today and for the future.…
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Superannuation: efficiency crisis?
Firstly, a warning; some may be surprised by what I’m about to convey given my background and field of expertise, heading up one of the leading suppliers of specialist IT platforms to the financial services sector. I have worked with numerous clients in the superannuation industry, and have firsthand experience of some of the critical…
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Life insurance providers – compete or consolidate
The life insurance industry has not escaped the impact of the global financial crisis, and in the present economically uncertain times, where new business premiums have dropped more than 50% globally, insurers have a new set of challenges to face. Celent’s 2008 paper, Bad News on the Street, Insurance IT and the Financial Crisis, reports…
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