FinTech

Efficiency, Integration and Engagement

The Rice Warner FinTech solutions package.

The digital revolution has begun to build momentum. Its first wave has passed through the financial services industry, including the superannuation sector.  The initial impact has been on making processes more efficient, largely by converting manual systems to integrated electronic commerce.  A good example is the collection of contributions.

Current activities are more disruptive opening channels of innovation to solve age-old problems and challenges in fields such as  member engagement, smarter marketing, efficient financial advice provision and reliable, compliant sources of on-tap, accurate data.

Rice Warner is at the forefront of harnessing the new digital age on behalf of clients.

Services

Rice Warner provides market leading decision support and advice tools to the Australian financial services market.  We provide consulting services, modelling capabilities and development work on advice tools and calculators throughout the industry.

Our capabilities and tools cover the following markets:

  • Superannuation and Retirement
  • Life Insurance
  • Savings, Debt and Budgeting

Click below to examples of active tools built by Rice Warner.

Modelled and regularly maintained by our actuaries, PHOEBE has an API that provides access to a wide range of complex mathematical functions and services. It solves common challenges faced by our clients across the financial services industry. The functions provide actuarially certified, compliant and accurate calculations across the full spectrum of financial advice for members or customers.

The PHOEBE API has been implemented for a range of clients, including banks, insurers, superannuation funds, financial planning groups, wealth management organisations and industry bodies.

PHOEBE provides clients with peace of mind that, by using a centralised source of calculations, they will always provide their members and customers with up-to-date, consistent, compliant and accurate information.

Our experience in the provision of financial tools, calculators and advice software provides us with the ability to offer our clients with peace of mind that their tools are:

  • fit-for-purpose
  • reasonable
  • compliant with regulatory requirements.

Our actuarial accreditation service includes formal testing and actuarial sign off for financial tools & calculators and in-house spreadsheets or models.

Powered by PHOEBE APIs, Rice Warner’s advice software solutions solve for a wide range of advice topics that are common to all superannuation members and customers.

Our current solutions include but not limited to,

  • Contributions
  • Insurance needs
  • Transition to retirement
  • Retirement planning

The functionality and complexity of each solution can be tailored. Each solution can also be integrated with a customised front-end and third party applications, to provide a concise, streamlined advice experience to members or customers.

Our actuarial experience and PHOEBE API provide superannuation funds with benefit projections for individual members utilising either the ASIC Class Order or tailored projections using the superannuation funds’ own assumptions.

Rice Warner provides cost effective and compliant solutions to help superannuation funds deliver engaging and personalised projections relevant to meet their members’ unique needs.

Rice Warner has developed a strong FinTech consulting capability, acquired over many years and many implementations in the financial advice arena.

Our FinTech Consulting Services include:

  • Business and actuarial analysis, specification and software development on digital projects.
  • Rice Warner system accreditation – actuarial testing and sign-off of digital solutions.
  • System reviews and benchmarking (administration, financial planning, digital advice tools, loan calculators etc.)
  • Consultation on projects to assist in the design of the advice workflows supporting goals-based advice.
  • Cloud migration consultation and delivery services for assistance with planning and uplifting services and data storage to the cloud.