Australia’s largest digital-first super fund, Aware Super, has changed the way Australians experience superannuation transactions.
Inspired by the global embrace of online retail, food delivery and ride-sharing businesses, Aware Super has created My Activities – a feature of its app the fund describes as ‘parcel tracking’, giving members real-time 24/7 visibility of the progress of their transactions.
Aware Super used insight gained through monitoring calls to its support centre to understand what was a priority for members. Over the 24 months to June this year, the fund identified transaction enquiries as the number one reason for members calling for help, with more than 250,000 calls each year on this topic.
The fund’s Chief Operating Officer, Jo Brennan, said the shift in Australians embracing remote working had brought to a head the frustration members felt with the slow and outdated paper-based processes relied on by super funds.
“One of the greatest features that ride-sharing businesses introduced to us was the ability to track the status of your ride,” Ms Brennan said. ”Today you can track your rides, your groceries, even the settlement of a home purchase all online – but we were still asking superannuation members to download, complete and post a paper form, and wait.”