Data Error “Hot Spots” Revealed - Financial Institutions Need To Find Data Errors Early

The ways in which fund data can go wrong are infinite. What matters most is how early errors are detected and corrected, and how this impacts customers, says Stephen Mahoney, executive director at QMV. “Achieving error-free investment and customer data is unrealistic, but effective measures can be put in place to reduce the incidence and severity of data errors and to help identify issues early.

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Rebuilding Trust: Moving From Rhetoric To Solutions

In the wake of the ongoing Royal Commission, Productivity Commission Report into Competition and Efficiency, and the pending Protecting Your Super reforms, key decision makers in financial institutions will need to revisit their understanding of what best interests of a member or client really means – even if their salary to date has been dependant on not understanding it, says Mr Jonathan Steffanoni, Principal Consultant, Legal and Risk, QMV.

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Data Disease Costing Super Funds Millions

Data errors are costing the superannuation industry, and its customers, millions of dollars every year with poor data spreading like a disease through the system, says Mark Vaughan, managing director of QMV.

“As many superannuation funds have discovered to their detriment, poor data quality isn’t just a technical problem. It is a customer service problem, a compliance problem and a financial problem,” he says. Mr Vaughan says the exponential harm that the proliferation of data errors can cause can aptly be characterised as the ‘disease effect’.

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Katie Gold
New Managing Director For QMV

Superannuation consulting and technology firm QMV has appointed Mark Vaughan as managing director, replacing Michael Quinn who has held the role since March 2014. QMV provides independent consulting services and technology systems to superannuation funds, trustees, administrators and wealth management organisations.  It was founded in 2008 by Mr Quinn, Mr Vaughan and Stephen Mahoney. 

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