Financial services provider, Alexander Forbes has today unveiled eboard, an online tool for retirement scheme trustees and an enhanced online functionality for members of retirement benefits schemes are part of the firm’s new strategy to increase customer experience.
Group chief executive officer Alexander Forbes, Sundeep Raichura said this was part of the firm’s wider strategy of better empowering pension fund trustees and members of the pension funds in Kenya.
“We live in a digital world yet the pension industry in this country still operates with procedures from an analogue age, this is a shortfall that we want to mitigate through these products,” Raichura said.
Developed in conjunction with Software Technologies Limited, the end to end solution will be used to store and provide online access to all Trustee Board information. The Eboard will assist in ensuring that trustees remain compliant with various statutory authorities and reduce the burdens of audits by maintaining all compliance documentation in a single repository.
Other benefits will include environmental benefit of moving from paper to electronic processes, bringing countless efficiencies and opportunities for improved fund governance for trustees. Members will also be able to access interactive tools for budgeting, financial and retirement planning as well as insurance needs analysis.
“Through our own online platforms, we want to empower retirement fund members to take charge of their financial destinies and also be able to choose and switch between various different investments portfolios”, he concluded.