Bring DDO to life in a meaningful, workable and efficient manner
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Wattletree was created to address key requirements born from the imminent Design and Distribution Obligations (DDO) regulations which will come into effect for the Australia financial services and product industry on 5 October 2021.
Extracting data from platforms, dealer groups, unit registries and other sources, Wattletree collates and appends data with demographic information in order to deliver quarterly reports showing the TMD characteristics of a product against the population characteristics for that product.
We believe that this combination of technology capability and industry IP is key to successfully delivering DDO and the FSC (and the wider industry).
Performance Analysis
Wattletree will deliver quarterly reports that demonstrate whether or not the TMD is being met for each product, cut by distributor and other relevant information.
Our Data Technology
We are able to do this by using a combination of first party (owned customer data), ABS and geo-demographic information to append customer records and thereby create a view of the ‘class’ of consumers in each product.
Roadmap and Planning
This approach allows for distributors (such as platforms) to enter their data once, and we will deliver product issuers (and distributors) a full view of their consumers.
OUR UNIQUE APPROACH
How it works
We provide trend information and breakdown by distributor / AFSL / broker / etc. so issuers will be alerted if there are any significant differences between distributors or if a significant dealing is on the horizon.
TIME FRAME
Wattletree is the next generation of an existing Marketsoft solution - Lemontree - so we're able to build the full solution well within the timeframe, reducing risk and delivering you quality reporting.
A Scalable Approach
We are currently offering early adopter pricing at a subsidised rate, to ensure you're ready by the 5th October deadline.
The production model will differentiate between issuers and distributors, whilst also recognising the relative complexity for a given customer based on number of products, product definitions and number of end customers.
THE MECHANICS
We use a combination of first-party (owned customer data), ABS, and geo-demographic information to append customer records and thereby create a view of the ‘class’ of consumers in each product.
3 weeks to DDO-day (5 October 2021)
It’s been a while hasn’t it? Don’t know about you, but lockdown, home schooling, work - it all just got to me for a while there. But I’m back! And we are announcing a partnership with a funds management client! I am very excited. Read on to find out more! PS: is there...
7 weeks to DDO-day (5 October 2021)
Something that has struck me recently, is that financial services compliance, risk and governance is very much focused on process. Which is understandable. But where does that leave outcomes? Do we even care about the outcome as long as we have a good* process? Read...
8 weeks to DDO-day (5 October 2021)
Firstly, a quick reminder that DDO requires all your marketing materials to be updated with either info about the target market or where to find the TMD. Don’t leave it to the last minute! Secondly, I’m hearing that lots of issuers are now turning their thoughts to...
about us
A Team Of Professionals
SARAH PENN
MAYFLOWER CONSULTING FOUNDER AND CEO
With a strategic approach and extensive project management skills, Mayflower will support you to grow your business with confidence.
dan cummins
MARKETSOFT SERVICES CEO
Helping businesses leverage their number one asset: their customer data - for over 30+ years.
Frequently Asked Questions
Geodemo-what-now?
Geodemographics involves the analysis of people by where they live, is has been a true and tested approach that has been around for the best part of 40 years. And the approach is still relevant today, the power of geodemographics rests on two key principles. The first, is people living in the same neighbourhood are more likely to be similar to one another than two people chosen at random. The second principle is that areas can be segmented on the profiles of their residents. This allows geodemographic segmentation to infer the characteristics and behaviour patterns of the residents in each area.
Under the WattleTree model, we know that each provider will capture customer data and their purchasing behaviour, but cannot know what the customer has done elsewhere. With timely and specific data about consumers, geodemographics provides a complete or holistic view of each customer and helps predict their total market expenditure. WattleTree's aim is to aggerate the purchasing behaviour across multiple brands and combined this information with geodemographics to provide a more informed customer assessment.
Is my customer's privacy protected?
WattleTree recognises privacy protection as a fundamental part of its business when it comes to how we hold, collect, and use information. We are committed to maintaining the highest standards of data integrity and security. The personal information collected and held by WattleTree is bound and covered by the Australian Privacy Principles (APPs) under the Privacy Act 1988 (Cth) (the Act). To protect the privacy of data and personal information we hold, we maintain a variety of safeguards that we update and test on an ongoing basis.
How do you identify vulnerable customers?
Wattletree utilises a range of data sets and data points to identify vulnerable customers. We use geodemographic data as a baseline to identify groups within our community that may fall into a vulnerable category. And then leverage personal information, as well as other consumer attributes like age, occupation, employment status, etc in conjunction with product holdings, to determine the likely vulnerable customers.
Are Issuers and Distributors allowed to provide Wattletree with customer information?
We believe so. Each issuer and distributor has their own privacy policy, which includes ‘uses’ of customer data. These often cover research, product development and “to comply with our legal obligations” or similar wording. We believe that this allows Wattletree to be provided with client information in order to deliver the service. Of course, each company needs to make their own assessment on this front, we’re not lawyers!
What data sets do you match against?
Wattletree utilises a geodemographic data universe, supplied and built by Marketsoft. The data pool contains both government and private data sources collected and built over many years. The data is maintained and regularly updated for use by Wattletree and other Marketsoft services.
