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Australia Post pitches for role in super
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Australia Post has made a pitch to play a greater role in the back-office and administrative functions of the superannuation industry.
In a detailed submission to the Cooper Review, Australia Post pointed to what it described as its “significant capabilities that could support efficiency improvements and cost savings”.
The submission said this would be the case with respect to standardising data integrity through the use of online forms, the efficient use of technology and e-commerce through its online forms and payment systems, a Secure Digital Communications solution (which is currently being developed) that could assist with straight through processing, and the greater use of electronic funds transfer services through Postbillpay.
The submission also argued that Australia Post could assist with respect to a range of other back-office services including compliance, integration of e-commerce services and identity verification and screening to facilitate rollovers.
Crucially, the submission argued that Australia Post could deliver the services to the superannuation industry without the need for legislative change on the part of the Government or any amendments to its own charter.
AUTHOR
Mike Taylor
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