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New company SMSFAI has announced its official launch aimed at redefining the SMSF administration process with advanced technology.
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SMSFAI set to bolster SMSF landscape with AI innovation
26 September 2024
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SMSFAI, a new company founded by Olivia Long, is set to transform the SMSF administration landscape by utilising AI influence and enhancement.
With over 26 years of experience in the financial services industry, Long said SMSFAI is dedicated to providing superior client experiences marked by innovation, expertise and excellence.
“I’ve enjoyed more than 20 years of my career at the helm of SMSF administration firms, overseeing the growth of over 8,000 SMSFs during that period,” she said.
“This new venture provides a unique opportunity to establish my business with AI at its core from the outset.”
Before the launch of SMSFAI, Long joined ASX-listed Prime Financial Group in 2018.
Long operated as SMSF managing director and was responsible for establishing an SMSF administration offering for B2B SMSF outsourcing solutions.
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In this role, she also established ExpertSuper and initiated the acquisition of Intello.
SMSFAI will utilise AI technology to provide SMSF administration and reporting services, offering bespoke business-to-business and white-label solutions that are profitable and tailored to meet differing client needs.
The company has partnered with Digital Rapport to leverage its advanced data automation and AI technology.
Long said the partnership with Digital Rapport will allow SMSFAI to adapt their video reports, providing real-time insights into financial health and performance trends specifically tailored for SMSF Trustees.
“My goal is to pioneer the first end AI processed SMSF Annual Return and Independent Audit,” she said.
“Video content is how we consume information in the modern age, with studies showing that video can increase information retention rates up to 95 per cent compared to just 10 per cent with text.”
“For financial reporting, this means our clients are more likely to understand and engage with their financial data when it’s presented in a video format.”
Digital Rapport CEO David Cowling said the company is proud to be working with SMSFAI and Long.
“The commitment shown to using the best of the breed, cutting-edge technology to deliver incredible outcomes for their clients is something to admire,” he said.
“Digital Rapport will provide a key plank in the communication and reporting to their trustees through our seamless integration and AI-driven analytics and voice cloning.”
Cowling noted Long’s career in the SMSF field has been instrumental and demonstrated her ability to grow and manage major SMSF administration firms.
Long said SMSFAI has been established as she believes AI is the way forward.
“Whilst offshoring is currently the solution to our shortage of qualified accountants in Australia, artificial intelligence is the way of the future.”
“I’m privileged to be working with some very experienced people in their field.”
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