Australia's largest super funds increased the availability of apps for their members by 26 per cent in 2016, but they are falling behind when it comes to digital engagement with employers, says IQ Group.
The IQ Group Digital Engagement Study 2016, which looks at trends in the top 50 industry, retail and public super funds, found engagement with members through digital channels had increased, with the three key areas of development being mobile optimisation of websites, the development of apps for members and online join capabilities for members and employers.
“Over the past three years the study’s results have reflected the industry’s increasing focus to be ‘digital ready’ and now to speak fluently the ‘digital language’ of member engagement,” said IQ Group chief executive Brian Peters.
“Funds of all sizes have made commitments to digital engagement and in turn we have seen employers and members react positively.”
Despite this, IQ Group said engagement with employers through digital means “did not progress any further”, noting that no superannuation applications for employers have been developed by the top 50 funds.
“Understanding member interactions and creating digital opportunities through the customer journey will be key moving forward. This will also apply to how funds elect to digitally engage with employers,” Mr Peters said.
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