There is no shortage of new technologies that can improve retirement outcomes for pension fund members
- Blockchain and machine learning dominate the discussion
- These are complex technologies in an early stage of adoption
- Real time data analytics and common platforms are already operational and can save time and money
- The adoption of new technologies is critical to engagement
When it comes to technological innovation in pensions the two buzzwords are blockchain and artificial intelligence. Blockchain is potentially a revolutionary technology that could significantly reduce the costs associated with pension administration and custody. Artificial intelligence – or more specifically machine learning tools – also promises to optimise many areas of the industry. They could be used to improve communications with pension fund members or to deliver better investment returns.