Digitalising Finance System

As part of its mission to improve processes to better serve members, the National Superannuation Fund (Nasfund) recently hosted its 2021 Finance Conference.

With the theme ‘Digitalisation of Finance’, this conference brought together the Fund’s Finance team, Board of Directors, and executive management, to learn about the efforts made to provide a more efficient finance platform for the Fund.

In addressing this conference, Fund CEO Ian Tarutia acknowledged the importance of utilizing current and emerging technology to enhance services to members.

“Over the last decade, the Fund has moved away from the traditional paper-based record keeping, to an ever-increasing cloud-based record keeping practice.

With the theme digitalization of finance, our Finance Team has taken the lead in utilizing some of the most advanced online platforms now available, to keep track of the Fund’s financial activities, and overall performance,” he added.

Mr Tarutia said: “Given the size of the fund, we believe it is important that our records and especially our financial Information are recorded on time, and are retrievable at a moment’s notice.

“Under the guidance of our Chief Finance Officer Rajeev Sharma, our Finance Team continues to lead the industry in adopting, and using the most efficient programs and applications that are suited to a superannuation fund of our size.”

The CEO thanked the finance platform partners who continue to provide feedback on how they can improve their performance, and ultimately, their service to members.

Chairman of the Fund’s Board Audit & Risk Committee, Anthony Yauieb, encouraged the Finance Team to ensure that the processes in place were being utilized to ensure maximum benefits.

“The efforts of team Finance are critical to the overall success of the Fund. With the vision of being our members trusted superannuation fund providing quality services and financial security.

“We are pleased that our Finance team has taken the lead in ensuring that systems are in place that promote greater accountability and efficiency,” Mr Yauieb.

He said this has ensured that we continue to perform well despite the current difficult economic environment

The Finance conference provided an opportunity for a few major vendors to present to the team on emerging developments within the applications that are being used by the Fund.

These included Green consulting and Trintech technologies from Australia, as well as Deloittes PNG.

The conference also included presentations from two guest speakers – Professor David Kavanamur (Kumul Consolidated Holdings Chairman) who spoke on leadership and emerging markets, and Sundar Ramamurthy (founder of DataCo and current NCSL Board Director) who presented on using technology to make the member experience more convenient and seamless.

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Press Release