RECREO FINANCIAL
Petros Gionis , CTO , and Dan Renoux , Head of Product , of Recreo Financial discuss disruptive , cloudbased superannuation administration platform , OneTrust
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O ver the last decade , the advent of new technologies and business practices has seen a pervasive digital transformation sweep across the globe . Companies in global and domestic markets , across every industry , are feeling the pressure to adapt and adopt new solutions . Those that don ’ t take steps to become the disruptors are at risk of being disrupted themselves .
However , digital disruption has been more pervasive in some industries than others . In the Australian superannuation sector , for example , rigorous compliance and regulatory structures , as well as significant operational complexities , have created high barriers to market entry .
“ Superannuation platforms in Australia are ageing , with the most commonly used platforms dating back over 20 years . There has been limited innovation .” So explains Dan Renoux , Head of Product at superannuation technology firm Recreo . “ These ageing platforms are difficult to maintain and now lack the features required to administer a fund in the modern day ,” he adds . “ Historically , trustees and administrators developed bespoke versions of platforms in
JUNE 2020