DECIMAL Software (ASX: DSX; “Decimal” or “the company”) is pleased to announce a new deal with Mercer that will see the global consulting leader offer the Eqilize digital financial advice solution across the super funds it services.
Mercer, which is one of Decimal’s foundation clients and partners, will offer the pre-configured Eqilize solution to more than 2 million Australians, representing approximately $65b in Assets Under Administration, including its flagship superannuation product, the Mercer Super Trust.
Decimal CEO Nic Pollock said it was an exciting milestone in the success of Eqilize, which has gained considerable market traction since its release in mid 2016.
“The deal continues a longstanding, successful relationship with Mercer as both client and channel partner,” he said.
“It also heralds the position of Eqilize as the standard for digital advice among Australia’s superannuation sector.”
According to Mercer Chief Customer Officer Cambell Holt, the decision to offer Eqilize was driven by Mercer’s understanding that technology is key to engaging customers who currently don’t seek financial advice.
“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,” he said.
“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.”
Eqilize is pre-configured to the needs of superannuation providers, allowing fast rollout and ease of implementation, but it still allows clients to brand it as their own and configure and scale the solution as their requirements grow and change.
“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.”
Eqilize is used by several national superannuation providers and other financial service institutions, accounting for more than $5 billion in Funds Under Advice.
Decimal announced in January it had secured global fund manager IFM Investors as a cornerstone investor.
For Investor enquiries:
Nic Pollock Luke Derbyshire
Chief Executive Officer Director
Decimal Software Limited Spoke Public Relations
+61 419 280 700 +61 488 664 246
Decimal is an Australian company which has developed the world’s first omni-channel, cloud based automated (‘robo’) advice platform designed to operate with any existing product. The platform, which includes embedded compliance features, enables enterprises to provide consumer-driven automated financial advice and execution to the mass consumer market with global application. Prior to now this has not been viable or technically possible, providing Decimal with a first mover advantage. Decimal partners with Financial Institutions of all sizes including banks, superfunds, credit unions, insurers, mortgage brokers and dealer groups to enable the execution of Financial Service advice via a seamless omni-channel solution.
Mercer is a global consulting leader in talent, health, retirement and investments. Mercer helps clients around the world advance the health, wealth and careers of their most vital asset – their people. Mercer’s more than 20,000 employees are based in 43 countries and the firm operates in over 140 countries. Mercer is a wholly owned subsidiary of Marsh & McLennan Companies (NYSE: MMC), a global professional services firm offering clients advice and solutions in the areas of risk, strategy and people. With annual revenue of $13 billion and 60,000 colleagues worldwide, Marsh & McLennan Companies is also the parent company of Marsh, a leader in insurance broking and risk management; Guy Carpenter, a leader in providing risk and reinsurance intermediary services; and Oliver Wyman, a leader in management consulting. For more information, visit www.mercer.com.au Follow Mercer Australia on Twitter @mercerAU.