Equity Trustees appoints fintech data firm

Australian trustee company, Equity Trustees, has appointed tech business, Nuj, to apply its data insights capabilities to build a regulatory data platform that assists funds in navigating the Australian Prudential Regulation Authority (APRA)’s Superannuation Data Transformation program.

The member data platform developed by Nuj will help superannuation funds and their trustees analyse their data further as required before it is reported to the regulator and will deliver real-time insights to help drive risk programs.

“We have a strong partnership with Equity Trustees, having worked closely with them over the last 18 months growing their data insights program, and are extremely excited to have them on our platform,” Matt McKenzie, Founder and CEO of Nuj, said.

“APRA’s growing regulatory program is putting increased pressure on superannuation trustees, and our data platform looks to relieve some of that pressure through automation, validation and insights.”

Nuj’s data platform will seek to assist funds with regulatory performance measures like the Your Future, Your Super (YFYS) Annual Performance Test and annual Heatmaps in particular, which are now determined from data collected under the APRA’s new reporting regime.

“Our aim is to use the most effective tools available to enable us to do the best possible job fulfilling our responsibilities as an independent specialist superannuation trustee,” Mark Blair, Executive General Manager of Superannuation Trustee Services at Equity Trustees, said.

“Efficient analysis and data transparency, and automated, digitised process help control and identify risk – setting a high standard for superannuation trusteeship which is the foundation of a robust, secure superannuation system designed to produce optimal member outcomes.

“We’re pleased to be working with Nuj to ensure we make effective use of the newest developments in digital technologies and apply them to our purpose.”