Well known superannuation fund administrator, Mercer, announces a member centric, digital first super fund admin revamp. The superannuation industry has been slow to adopt B2C electronic interfaces and has few apps for consumers to engage with their super - their biggest investment outside their family home. Many super fund interactions are still paper based forms. If Mercer can deliver on their promise, this may change the game for superannuation funds and for consumers.
The Super Genome Project is intended to “shake up” Mercer's interactions with customers and corporate clients. Mercer’s Andrew Godfrey said: “Super administration as a record-keeping service is no longer a sustainable business plan.“Administrators have to partner with their clients to achieve growth in an increasingly competitive industry.”Mr Godfrey added that super funds could use prices to differentiate themselves in the market.“A more sustainable future is developing the customer experience investing complementary new technology.“We’ve replaced the industry one-size-fits-all approach with a completely customer-centric model where every single individual sits at the heart of the interactions and experiences we create, and we think it will differentiate us in the market.”The project has seen the roll-out of marketing and strategy platform Mercer Edge; CRM enterprise solution Salesforce.com; a new member registry; and a new digital capability that offers a “mobile first” experience.