AustralianSuper Partners with global FinTech Accelerator in Melbourne for the Financial Health and Wellbeing of its members

AustralianSuper Partners with global FinTech Accelerator in Melbourne for the Financial Health and Wellbeing of its members

04-Jun-2019 by Claudia DeFabio

Melbourne, 31 May 2019

AustralianSuper has joined the Melbourne based Fintech Accelerator as a partner to explore solutions to benefit Fund members. Accessing global innovations in financial services technology via the Startupbootcamp program will help AustralianSuper explore options for future technologies, gain insights into member behaviour and build and test prototype solutions based on the selected startups’ product offerings.

Key Areas that AustralianSuper is seeking to explore include advice, open banking, insurance tech, regulatory tech, Cyber Security, data privacy and blockchain.

Shawn Blackmore, Group Executive Member Experience at AustralianSuper said he was excited about the new partnership.

‘AustralianSuper wants to see how we can deliver more for our members by using new and innovative approaches in technology, so this is a really great opportunity,’ he said. ‘It will be exciting to be connected with such a strong group of innovators and entrepreneurs.’

The FinTech Accelerator program, which will commence on 3 June 2019, will see some of Melbourne’s biggest financial services companies, including NAB, Bupa, and Deloitte come together with global tech giants Capgemini, Amazon Web Service (AWS) and Cisco to collaborate with 10 global startups who are disrupting the FinTech landscape.

The focus for the FinTech Melbourne program is Financial Health and Wellbeing. Along with industry partners, selected startups will be looking at the intersection between open banking, consumer data rights, insurance, superannuation and wealth management as we move into a future of extreme customer centricity based on digital identity and web 3.0.

Brian Collins, Managing Director at Startupbootcamp said,

‘We’re absolutely thrilled that AustralianSuper has joined as a partner of the FinTech program. The superannuation and wealth industry is the largest part of the Melbourne financial services scene and key to the national sector. With our current partner lineup, we have the ability to make huge strides in moving our startups and even the industry forward in meaningful and substantial ways.’

The 10 teams selected for the FinTech Accelerator program commencing on 3 June
are:

1.  ZScore Technologies: an AI-powered platform that enables organisations to
understand and extract value from their data through advanced data profiling.

2. Emotics: a RegTech company that analyses user engagement with online
compliance training, using a suite of analytics, including facial recognition and
facial micro-expression analysis.

3. ChintaMoney: a mobile app that digitises Jam Jar budgeting, which allows users
to split their income into different categories (bills, travel, savings, etc) for better
financial health.

4. InsureVite: a NLP chatbot that includes advanced features, like smart contracts
and optical image processing, for applications in industries like insurance,
banking, e-commerce, and airlines.

5. TradingValley: a wealth management solution powered by machine learning that
helps users build the right investment portfolio to suit their life needs.

6. InfoVera: an online marketplace that gives business owners an industry
benchmark score and recommendations to increase the value of their company.

7. Youthful Savings: a learning marketplace that empowers the next generation
with the tools of financial education and entrepreneurship necessary to thrive.

8. Pencil: an application management system that allows businesses to easily
submit credit applications digitally by auto collating an accurate ASIC-verified
business record for immediate approvals.

9. ZigWay: a mobile app that helps low-income families access nano loans of less
than $200 quickly and cheaply.

10. Fractal: an API suite that provides data aggregation and intelligence platform
where banks and other financial institutions can provide value-adding services to
SMEs.

Startupbootcamp is one of the world’s largest FinTech innovation networks, running programs in more than 10 cities around the globe.

Claudia DeFabio