CFS and UTS to collaborate on analysis and insights
Tuesday, 16 February 2016: Colonial First State (CFS) and University of
Technology Sydney (UTS) will collaborate on a range of programs, projects and
activities to better understand how Australians engage with their superannuation and
wealth.
One of the first collaborative outcomes is 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 models allow CFS to observe complex relationship patterns between investors,
employers, financial planners and competitors, and achieve more accurate
predictions than other, more traditional approaches.
CFS Executive General Manager, Linda Elkins, said the agreement with UTS
demonstrated CFS’s strong credentials in innovation and insight.
“We firmly believe in the power of data analytics and already have strong in-house
capabilities. UTS people and CFS people will now have opportunities to work together
on practical projects in which everyone can develop their skills,” Ms 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.”
Ms Elkins said the advisers CFS deal with most regularly understand and value the
unique insights CFS already shares with them about their business models and
processes. “The relationship between CFS and UTS really broadens the potential for
delivering more and deeper insights in the future,” she said.
Dean of the UTS Faculty of Engineering and IT, Professor Ian Burnett, said UTS is
driving excellence and innovation through industry engagement.
"UTS is a world-class research intensive university with an established reputation for
innovative and practice-based approaches to partnering with industry," Professor
Burnett said.
"The UTS Faculty of Engineering and IT has always had a strong focus on
collaborative research with the aim of putting the best research tools into the hands
of practitioners.
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"The work Colonial First State is doing with our Advanced Analytics Institute puts
that goal into action, ensuring that pioneering research is being applied to deliver
real-world impact."
The landmark CFS-UTS agreement means both parties will expand 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 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. Working with UTS, I believe CFS has the potential
to transform our industry,” Ms Elkins said.
Media contact:
Colonial First State:
Mike Smith
Group Corporate Affairs
M: 0411 400 041
E: Mike.Smith@cba.com.au
UTS:
Terry Clinton
Marketing and Communication Unit
M: 0419 293 261
E: Terrry.Clinton@uts.edu.au
About Colonial First State
Colonial First State (which includes Colonial First State Investments Limited ABN 98 002 348 352 AFSL 232468
(CFSIL) and Avanteos Investments Limited ABN 20 096 259 979 AFSL 245531 (Avanteos) (trading as Custom
Solutions) is the issuer of investment, superannuation and retirement products to individuals and corporate and
superannuation fund investors, as well as being the operator and administrator of investment platforms.
CFSIL and Avanteos are owned ultimately by Commonwealth Bank of Australia ABN 48 123 123 124. The
Commonwealth Bank of Australia and its subsidiaries do not guarantee performance or the repayment of capital
of Colonial First State (including CFSIL and Avanteos).
About University of Technology Sydney
The University of Technology Sydney's Faculty of Engineering and IT is home to world-leading facilities including
the UTS Data Arena, an immersive and interactive 3D visualisation facility. Researchers within the Advanced
Analytics Institute (AAi) develop cutting-edge theories, practices and solve real-life industry analytical
problems. AAi has developed a range of proprietary data mining tools and algorithms for data exploration,
modelling, predictive analysis, data visualisation, and decision-making support, as well as adapted bespoke
systems depending on customer requirements
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