The superannuation industry is one of the fastest-growing industrial sectors, and their
services is a need for every Australian worker. At present, the superannuation industry
services become more customised with help of digital transformation in the industry.
Those advanced technical changes help the customers to access their services
anywhere in the world.  In Australia, the purpose of superannuation is to be ensuring an
income for retirement which can be substitutes or supplements for their pensions. So
that people must invest a portion of your income to a range of assets until you retire
from work (Jolly 2018). According to the Association of Superannuation Funds of
Australia’s (ASFA) retirement standard is that expecting an average amount for
comfortable retirement of a couple is $60457 a year. So that the superannuation is
designed to give enough to a comfortable retirement and ensuring the superannuation
balance can track to meet your expectations in retirement life.
At present service-management plays a vital role in every organisation. Satisfying the
customer needs and demands re the key success for every service providing
organisations. Customer service skills are playing a key role in the development of
every organisation. In recent years the business services are beginning to convert their
business services to digitalised business with help of technologies. Utilising the
technological platform in many businesses helps to boost their growth and help them to
expand or create their markets in al over the world to meet their customers’ needs and
demands (Berman 2012). The digital transformation and digital platforms are
helping the business to develop different business operating models. These
technological changes become more customer-friendly and easier for them to access
more services and products. This article will investigate the impact of the digital
transformation on the superannuation industry, and the global perspective on how
digital transformation take place in it.
The nature and characteristics of services:
Superannuation industry plays a vital role in the Australian economy (Higgs &
Worthington 2012). Superannuation system established in Australia for overcoming the
financial challenges of expanding the growth of aged people. the compulsory
superannuation system forcing the people to contribute part of their income to
superannuation savings. Growth of aged people and their pension benefits
become heavier to the government budgetary obligations. The superannuation policies
have become a viable alternative for the government to maintain the needs and
lifestyles of the pensioned Australians (Heng, Niblock & Harrison 2015). The
superannuation services work like it encourages the individuals to plan for their
retirement life and motivate them to contribute money through superannuation system

while working and these saving become helps the people to maintain their lifestyle after
the retirement (Gruen & Wong 2010). the super works like the more you save the more
you will get, so it encourages the younger generations to contribute more on
superannuation to get maximum benefits after their retirement life. Aged people can
receive their superannuation benefits as a pension or else they can their whole savings
ready to withdraw for their personal needs after their retirements. The younger
generations can invest their contribution in their first job itself and they may have long
time remaining for their retirements and they can save a large amount of their money for
their retirement. Digital transformation in the superannuation services become more
customized and easier to access. The superannuation industry services provide a wide
range of services to their customers to maintain their super members. The digital
platforms and customer service centre are the primary service providers for the
customers. All superannuation’s funds are normally providing almost the same financial
benefits to its customers. So, the digital platforms help the companies to provide a
competitive advantage for their customers through their technology platform and
customer centre. The digital transformation in the superannuation industry creates huge
changes in their customer service, especially in customer centre services. The
beginning of digital transformation the customer centre service staff has massive work
to full fill the customer needs and taking loge time to deliver their requirements. In
addition, for releasing the superfunds need many administrational processes. Currently,
digitalisation helps create a digital platform which automatically manages the
administrations' works and process for everyone. common customer centre jobs such
as updating members details, accessing the account balances and information about
the last statement. Those services have become a part of self-services and customer
centre staffs can get time to focus more on value-added services which can provide
more customer satisfaction.

Digital transformation in the superannuation sector:
The digital journey of the superannuation sector has become a fully functional online
presence in the current market. The digital transformation creates a new standard for
building relationships with customers and this innovative approach generate more
customer satisfaction. The online platform for the customers becomes more efficient,
simple and faster for members to access quickly (Mckenna 2019). The main
transformation of the super industry is now customers can access their services are on
their mobile. Previously customers must contact the contact centre staff to fulfil their
basic requirement. This rapid change reduces the workload of contact centre staff and
customers can access their needs in a short time. These changes help the industry to
reduce the service costs and it also helps them reduce the customer costs. In addition,
digital transformation creates higher level of service satisfaction for their customers. For

example, before the digital transformations the super member wants to consolidate the
super to one account required some administrational work and it can take some time to
get it sorted, but now if the super member need to consolidate their super, they can do it
online they can get the service immediately. The digital platforms can do the
administrative services are as soon as possible because of the help of data
management. Those high level of data management also help the super members
make relevant personalised communications and helping to make suitable decision on
their investment and also securing that member.
Every year the number of customers is increasing, and the majority of the new
customers are younger generations and they always prefer their services has to more
customer-centric through digital platforms. So that super industry has to convert their
massive data into useful customer insight through the online and mobile platforms for
better communication with the youngsters.

Digital transformation model:
The digital transformation in superannuation industry had swap their business model to
become more efficient and secure. The digital transformation has improved the
members outcome

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