Remediation Models In Financial Services Organisations

The ability to identify, scope and remediate customer account errors has become a key regulatory item in financial services. These issues can result in breaches and are thus “non-negotiable” with regulators.

Depending on the scale of remediation events, personnel and funding tends to swell and subside. The deeper you look, the more people involved, the more money you throw at it, the more errors you will find.  

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Fantasy PMO - Creating The Optimum Project Management Office (PMO)

Sometimes a rag-tag bunch of misfits that have been thrown together join forces and deliver a program of work. When it happens, it can be magical but it’s a rare thing.

You don’t always get to pick and choose. Your strike team might be assembled but you still need a command crew for the shuttle. Here we look at some of the traits you, as a PMO manager should be seeking out to ensure you build a delivery team positioned for success.

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Post Royal Commission World – Why Is Financial Services Customer Data Prone To Error? 

The Hayne Royal Commission raised a question mark over the quality of customer data held by financial institutions and emphasised that action after the fact via costly data remediation events was not good enough. In a post royal commission world, it is important to know why customer data is so prone to error. 

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Reducing Data Remediation Costs - One Simple Step Delivers A World Of Difference

The digital age of customer information opens vast opportunities for financial institutions from providing tailored solutions, omnichannel experience and innovative avenues to communicate with customers. 

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QMV Awarded Super Review’s Superannuation Consultancy Of The Year 2019

QMV has been announced winner of Super Review’s inaugural Consultancy of the Year for Tender and Other Services award, beating fellow finalists Deloitte and Rice Warner. The top performing consultancies were determined based on the results of a Super Review survey that ran throughout June this year as reported by journalist Hannah Wooton.

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The Rise And Rise Of Automated Testing For Fintech Products  

Testing of fintech products and platforms is increasingly a mix of human and automated testing thanks to advancements in technology, machine learning and artificial intelligence. The movement away from manual work can allow financial services organisations to boost product development, improve efficiencies, enhance quality and mitigate risk.

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On Superannuation Guarantee

Australia’s superannuation guarantee policy is popular, economically prudent, and coming under increasing political scrutiny. It has been very effective in extending coverage of the superannuation system beyond the public sector and senior management of large companies to most working Australians.

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Data Remediation Activities Will Not Disappear; Nor Should They

The Hayne Royal Commission rightfully and very publicly raised a question mark over the quality of customer data held by financial institutions. It also highlighted that data remediation – the cleansing, organisation and migrating of data – after costly and often lengthy investigation, warrants greater focus.

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QMV Nominated ‘Superannuation Consultancy Of The Year’ – Super Review

QMV is privileged to be nominated in Super Review’s inaugural Superannuation Consultancy of the Year alongside Deloitte and Rice Warner. The winner will be announced at the  Super Fund of the Year Awards on 15 August 2019.

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Superannuation Fund Administration Migrations – How To Get It Right

Trustees regularly put their administration up for tender and a successful bid often results in a fund migration. This may be between administrators or just platforms within an administrator. Each migration is unique and presents its own set of challenges and disruptions…

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What Are The Most Common Data Errors In Financial Institutions?

Customers expect financial institutions to correctly calculate their financial position and to know exactly who they are. No one wants to be at a loss, especially when it is someone else’s fault. A miscalculation, an administrative mistake, lack of insurance coverage, or other errors, can cause customers to feel wronged, robbed, not cared about or even marginalised.

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Data Remediation In Financial Services – Triggers, Execution, Controls And Continuous Improvement

Data remediation activities in financial services will never cease. The best that can be achieved is significantly reducing the frequency and scope of remediations over time. This paper is a brief discussion of the triggers, execution and controls associated with data remediation events and can be applied to superannuation, wealth management, banking and insurance.

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Correcting Past Wrongs – The Gold Standard In Financial Services Data Remediation

Many data remediation programs are only started after an issue being brought to light by a customer or group of customers: often upon investigation, this gives rise to a slew of other issues that may have been impacting thousands of customers across several years.

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APRA and ASIC Warn Superannuation Funds Must Ensure Member Fees Are Appropriate and Correct 

In a letter sent to registerable superannuation entity (RSE) licensees on 10 April 2019, APRA and ASIC reinforced the importance of oversight to ensure fees charged to members are correct and in their best interest. This included a range of issues and ‘approaches for actions’ to address the oversight.  

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Q&A – Tom Seel Reviews Investigate Data Quality Software Tool

Tom Seel is the product lead at QMV and has been involved with Investigate since its inception. He is passionate about data and data-centric projects having been involved in numerous data migration and data remediation projects throughout the superannuation industry.  

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QMV Hosts Trivia Night To Raise Funds For The Flemington Homework Club

QMV’s Corporate Social Responsibility (CSR) group held the annual trivia night last Friday evening to raise funds for The Flemington Homework Club. CSR Chair, David Mehmed would like to extend appreciation to everyone who took part. We raised $6,829 for this worthy cause and it would not have been possible without the generosity and intellectual horsepower of our guests! 

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