Brisbane-based Independent Fund Administrators and Advisers announced it has started processing SuperStream files received from the Westpac gateway.
Supported by Financial Synergy's Acurity platform, IFAA said it has processed over $500,000 in employer contributions to date, although it has run into a few glitches and processing mismatch problems.
Managing director Neil Harvey said a few factors resulted in exceptions and processing mismatches like member name changes due to marriage, and some items needing more investigation.
Financial Synergy CEO Stephen Mackley said: "We knew there would be a fundamental shift from having pure processing roles to knowledge workers responsible for investigating and resolving exceptions."
He said he wanted his platform to process most of the transactions directly, with support administrators then looking after exceptions.
The two funds have announced the signing of a non-binding MOU to explore a potential merger.
The board must shift its focus from managing inflation to stimulating the economy with the trimmed mean inflation figure edging closer to the 2.5 per cent target, economists have said.
ASIC chair Joe Longo says superannuation trustees must do more to protect members from misconduct and high-risk schemes.
Super fund mergers are rising, but poor planning during successor fund transfers has left members and employers exposed to serious risks.