POWERED BY MOMENTUM MEDIA
Super funds need data feed choice: Moneysoft
The inefficiency and costliness of personal advice coupled with the growth of new advice models have spurred on a strong demand for automated cashflow and data feed flexibility, according to Moneysoft.
Moneysoft, who provide a budgeting and savings management platform for advisers, superannuation funds, and brokers, claims to be the "first to market" with their new service proposition offering financial advisers and superannuation funds an integrated model of data collection, sharing, and security.
Moneysoft's head of operations and technology, Jon Shaw, said growing concerns surrounding privacy protection and security have seen the fintech explore data aggregation to help meet the needs of current and future clients.
"Our clients have told us how important choice of data feed is to them and their own customers," Shaw said.
"Security is an issue that regularly comes up and our new combined service proposition… allows us to offer a more powerful, digitally safe solution to suit the unique preferences of our clients."
ANZ, RI Advice, ClearView and Matrix Planning Solutions are among the firms who have signed on to Moneysoft's cloud-based platform.
Shaw confirmed Moneysoft has also integrated two major financial data aggregation platforms, Yodlee and eWise, to gather client account balance and transaction data from "a wide range" of financial account providers in an effort to provide the fintech's clients with a greater capacity to collect and share financial account data.
According to Shaw, new advice models, including objectives-based advice and scalable advice, have encouraged advisers and super funds increasingly to look towards automating "time-consuming and repetitive jobs" including information gathering, updating client details and processing applications to help make the provision of personal advice "more efficient".
AUTHOR
Daniel Paperny
Daniel Paperny is a technology journalist for Cirrus Media, writing for financial services mastheads FST Media, Money Management and Super Review. Previously, Daniel was the editor of the Bondi View newspaper, focusing on investigative news reporting in current affairs, finance, sports and politics.
Recommended for you
APRA’s latest data has revealed that superannuation funds spent $1.3 billion on advice fees, with the vast majority sent to external financial advisers.
Cbus Super has unveiled Advice Essentials Plus, a new service offering affordable financial advice to both members and their partners.
The fund has launched a new tool to help deliver personalised financial education and digital personal advice to eligible members.
The QAR lead reviewer has told a Senate committee that the government’s demands of super funds conflict with their original purpose.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
Spire Oaktree Opportunities XI Second Close
61.07 3 y p.a(%)
2
Spire Oaktree Opportunities XI First Close USD
59.21 3 y p.a(%)
3
DomaCom Lot 21 Chellaston Road Munno Para West SA 5115 Australia
31.56 3 y p.a(%)
4
Fidante Credit Suisse Global Private Equity
31.06 3 y p.a(%)
5
DomaCom 4/27 Crombie Avenue Bundall QLD 4217 Australia
26.81 3 y p.a(%)
