Super fund members will be able to model their own financial scenarios through cloud-computing tools which funds can be set up and installed within a fortnight, in conjunction with Provisio Technologies.
This addition to the Provisio rapid advice software will be an online SaaS (Software as a Service) via cloud computing, so funds can customise their web site within one to two weeks, and then offer the service to members.
The problem of cyber-crime would be avoided, said Provisio’s Jye Tucker, by the application being driven by members, who would enter the relevant figures from their statements.
Tucker, who is the company’s chief software architect and a director, said Provisio Online was not a “souped-up calculator”.
The application would model – among other things – what contributions the member could afford; how contributions could be done in the most tax-effective way; and how the member could gain government co-contributions.
The software would be used by existing clients – such as administrator Superpartners, and funds ESI Super, legalsuper and HESTA – and some new clients who were not using any other parts of the Provisio suite.
Clients could customise the design and embed the online advice tools directly into their website so that the Provisio tools were invisible to the member, Tucker said.