More than two million Australians will benefit from a digital advice partnership between Mercer and a leading software firm.
The reach of Decimal's digital advice solution, Eqilize, is set to surge following a deal with Mercer to offer Eqilize to both the members of super funds serviced by Mercer and those of Mercer's own flagship product, the Mercer Super Trust.
The solution is pre-configured to the needs of superannuation funds of all sizes, allowing for speedy rollout and implementation. It also allows clients to brand the software as they please and to configure and scale the solution as needed over time.
Mercer chief customer officer Cambell Holt said that the need to use technology as a means of engaging members and providing financial advice to those who don't currently seek it was a key driver in the decision to partner with Decimal.
"Digital advice isn't about digitising traditional advice. The industry has an opportunity to start from a blank slate given most customers aren't familiar with current advice models," Holt explained.
"Mercer has invested heavily in technology to deliver seamless customer service and an optimal super experience. We're continually focused on helping our super administration clients to deliver better service and member engagement."
Decimal chief executive Nic Pollock said it was an exciting milestone in the success of Eqilize which was launched mid-2016 and builds on its longstanding relationship with Mercer - one of Decimal's foundation clients.
"It also further establishes Eqilize as the standard for digital advice among Australia's superannuation sector," Pollock said.
Holt added: "Decimal's experience delivering solutions to market coupled with Mercer's reach across the superannuation sector are set to be a formidable combination when it comes to digital advice. We believe Eqilize will be central to achieving our ambitions. At the end of the day, Mercer's purpose is to create better lives - providing easy access to digital advice will contribute to that."