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MySuper will require cheaper operating systems
Changes proposed by the Cooper Review mean super funds will need to configure back-office systems in order to accommodate MySuper and reduce cost and complexity to members, according to Bravura Solutions.
Offering a low-cost option means funds will want a low-cost operation to manage it, putting the focus on streamlining systems and shaving unnecessary costs, according to Darren Stevens, Bravura Solutions’ global head of product — wealth management.
“Electronic processes, real-time processing and straight through processing are going to move to the top of the list of priorities for super system selection,” he said.
“Providers are going to want flexible software solutions and will need to move quickly to take these new products to market.”
AUTHOR
Mike Taylor
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