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Mercer purchases ecompliance solution
Mercer has purchased a web-based ecompliance and risk management solution, ExtraTextual, aimed at increasing simplicity for clients in the face of industry scrutiny.
With the control and governance of Australia's $2 trillion superannuation industry consistently facing critique in the spotlight, trustees and fund executives are being pushed to manage additional appraisal from members, activists, and regulators, leading to a need for new measures.
Mercer's head of retirement and investments, Graeme Mather, said "in an industry where change is constant, the time and costs associated with compliance is always increasing".
"The changing legislative environment can expose funds and their members to compliance, market, and operational risks. This acquisition is how we can make our clients' lives easier by removing some of the governance burden of monitoring legislative and regulatory changes and the impact these can have," he said.
"Our compliance solution provides the necessary and comprehensive checklists with an overlay of legislature content that allows our client to focus on value add areas, rather than interpreting complex legislation."
"Super funds and managed investment schemes want easier ways to do business."
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