University of Technology Sydney (UTS) has agreed to collaborate with Colonial First State (CFS) on a number of wealth management projects.
CFS and UTS will join forces on producing a set of predictive and prescriptive models to help CFS understand which customers are more likely to redeem their investment in the near future.
CFS executive general manager Linda Elkins said: “We firmly believe in the power of data analytics and already have strong in-house capabilities.
“We particularly look forward to exploring deeper insights using some of UTS’s highly innovative data analysis techniques to provide richer solutions for our customers and their advisers.”
The model allows CFS to observe the relationship patterns between investors, employers, financial planners and competitors, achieving more accurate predictions, a statement issued by the company said.
“CFS and UTS can collaborate to develop the most talented digital and analytics people who will provide core critical thinking and practical insights about our business and advisers’ businesses,” Ms Elkins said.
UTS Faculty of Engineering and IT dean Ian Burnett said the collaboration aims to provide the "best" research tools to practitioners.
The agreement will also see further collaborative research projects, and industry doctorate program, student internships, training and development, contract research and other opportunities, the statement said.