Banks on edge of super 28 August 2015 4:27PM Bernard Kellerman The Big Four banks have an advantage when it comes to marketing superannuation products, thanks to their huge customer base and ability to attract potential new superannuation members through the use of data analytics, according to Stephen Mackley, chief executive of superannuation management software provider Financial Synergy.Mackley was taking the opportunity to give an industry overview following the announcement of the signing of a major new client.He cited BT's Super for Life program, which was splashed on its website, as an example.And then there are the likes of ING Direct, which allows members to check their superannuation balances in real time without extra steps to login. "They can transact in any way they like on their superannuation account. That's a level of convenience that most other competitors cannot match," said Mackley."No doubt the banks have a competitive edge and ING has had a huge rate of growth, and is viewed as disruptive and have been quite successful. No doubt they are competitor to the industry funds."Mackley pointed to last week's announcement of a tie up between ME Bank and industry administration fund Link. Link Group's technology platform will allow ME Bank's customers greater integration between their banking and superannuation accounts. The plan is to further utilise Link's technology platform and data insights gained from the partnership to offer a more personalised, tailored banking and superannuation experience.Mackley added that Financial Synergy also had a product, CUBS Super, for mutual banks and credit unions. "A few are working well with it - Defence Bank and Qantas Credit Union among them."But not everyone in the mutual environment sees the value of offering a superannuation option, which surprises me as they are supposedly the institutions with the better relationships with their membership," he said. Mackley also noted it was difficult for retail clients of any financial institution to have confidence in the superannuation system when the government keeps changing the rules."It creates an environment where people say: is all too complicated, I don't understand it, if I get something when I retire well and good but I don't really get it. The end result is that a very high percentage of the workforce ends up in default super funds."