Australian wealth management firm Colonial First State (CFS) and University of Technology Sydney (UTS) have agreed to collaborate to better understand how Australians engage with their superannuation and wealth.
As part of the agreement, researchers from UTS’s Advanced Analytics Institute (AAi) will work together with CFS on a range of programs, projects and activities to deliver new insights into business models, processes and the needs of customers.
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Also, both the companies will team up on producing a set of predictive and prescriptive models to help CFS understand which customers are more likely to redeem their investment in the near future.
The companies in a joint statement said that these models allow CFS to study the relationship patterns between investors, employers, financial planners and competitors.
Furthermore, the agreement will see both parties expanding a framework of mutually beneficial programs, projects and activities which include collaborative research projects, an industry doctorate program, HDR/PhD student projects including student internships, capstone projects, training and development, contract research and other opportunities.
CFS executive general manager Linda Elkins said: "We particularly look forward to exploring deeper insights using some of UTS’s highly innovative data analysis techniques to provide richer solutions for our customers and their advisers.
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By GlobalData"The relationship between CFS and UTS really broadens the potential for delivering more and deeper insights in the future.
"CFS and UTS can collaborate to develop the most talented digital and analytics people who will provide core critical thinking and practical insights about our business and advisers’ businesses," she added.
