Global professional services firm Towers Watson has launched an interactive smartphone application to address the lack of user communication experienced by Australian super fund members.
"TrackMySuper will change the way super funds connect with their members," Towers Watson Australia managing director Andrew Boal said.
"No longer will funds need to reply upon members reading the information in their member statements, visiting their website or ringing the call centre."
Many apps currently available for superannuation only mimic websites or other electronic communications, Mr Boal said.
TrackMySuper will effectively allow funds to deliver targeted messages to all members, a designated group within their membership, or at the individual level.
"TrackMySuper was created to plug the gaps other smartphone apps in the marketplace were not able to address, especially in the area of user experience," Mr Boal said.
"It will also communicate important fund news, feed the fund's social media activities through to members' mobile devices and create an interactive platform between the member and the fund."
In addition, TrackMySuper will enable super fund members to check their fund balance, review their investment breakdown and returns and access transaction information and insurance levels. It will also provide contact information and a two-way interface for direct fund communication within the app.
The Towers Watson solution comes days after Deloitte Digital partner, Katherine Milesi, revealed at the Association of Superannuation Funds of Australia's National Conference, the Australian wealth industry - particularly superannuation funds - was lacking in digital strategies and under-utilised mobile and tablet technology.
Ms Milesi said mobile use was expected to surpass desktop usage by 2014. In addition, there were 4.8 billion people worldwide who owned mobile phones and 1.2 billion were connected to the internet.
