Decimal announces MOU with industry consultancy

According to a statement, Decimal has signed a memorandum of understanding with Sequential Limited.

As part of the deal, Decimal will leverage from Sequential’s established and trusted customer relationships with large financial services institutions.

Sequential chief executive Adrian Johnstone said the deal follows a “significant rise” in the number of superannuation providers who want to offer their members a digital advice solution.

“We’re fielding an increasing amount of interest from superannuation funds about how to move seamlessly into digital engagement for their members,” he said.

“Decimal, having already built the software and established itself in the market, allows this to happen immediately”.

Decimal chief executive Nic Pollock said the latest MOU will complement other existing partnerships, including those with global consulting firms.

“This partnership will increase our reach into the market and affirms the strength of our technology as robust and scalable to meet the demands faced by the superannuation sector,” he said.

“The major challenges for the industry include member retention, growth and overall relevance in a highly competitive market. Through the work we’re already doing with funds across Australia, we’re confident we have a cost effective, fully automated way of providing financial benefits for members of all superannuation funds.

“We also provide technology solutions for banks and will look to expand into other financial service areas with these tier-one providers.”