We all know how fast technology moves. Even so, pensions are all about long term planning. FinTech options are out there, but should we even consider them? In the future, end-to-end digital processes will help drive up pension opportunities for companies and pension investors alike, but, even so, it’s always going to be necessary to measure risks carefully before making any large scale decisions in the world of pensions.
How we can leverage FinTech for pension management? We know that FinTech can decrease costs in all of the ways that we might expect, in terms of lowering transaction costs, and enabling new financial alternatives. It can also increase compliance throughout pension management and individual employee engagement. But what we’re also seeing, is a rise in strategic pension development, using technologies that merge public and private pensions, consumer choices and even personality testing for investment choices, all based on findings from big data.
In our new paper on FinTech for pension management in 2019, we’ll discuss whether leaders in pension management consider these new and, in some cases, untested pathways. We’ll explore surprising new case studies from global pension success stories, on what options FinTech may provide for all companies and governments in the coming years.
At Marris Miller, we’re hopeful that this kind of technology will eventually present a new level of opportunity for pension managers across Canada, even in as few as five years. We’ve already been observing how some FinTech tactics have made present-day pension management less expensive and easier to implement. The benefits of these technologies may, however, be worth considering, and we’re here to help.