Australian wealth manager AMP announces launch of mobile application to boost customer engagement.

AMP, the Australia and New Zealand wealth management firm, has announced plans to launch a mobile application that integrates superannuation, banking and insurance information in a bid to boost engagement with clients.

Speaking to local media, Libby Roy, director of corporate super, said that the app will give customers a "quick look" at what is happening to their investments, especially if they are mobile and do not have the time to read 100-page statements. The application has reportedly already been tested with AMP staff and has, so far, seen an increase in engagement numbers. Roy also added that technology is the key to building relationships with the younger market.

"We've been doing a lot of work around human-centred design... I think one of the insight that we're getting from a lot of research is that a lot of younger customers actually want to engage with superannuation and see it as very important," Libby was quoted as saying.

"We need to demystify it and simplify it," she added.

AMP underwent a major technology overhaul in early 2013 to coincide with the changing financial market landscape, two years after merging with AXA Asia Pacific. According to a report released by Celent in 2012, IT spending by the wealth management sector will be driven mostly by Asia-Pacific and North American markets well into 2016, with most investing on new applications and software.