Orient Capital is connecting 60 funds to its new platform to comply with the Australian Prudential Regulation Authority's (APRA's) data reporting standards which came into effect on 1 July.
The solution integrates data from custody providers, accounting systems and underlying superannuation administration systems and leverages off Orient Capital's existing miraqle platform. The provider said it would be available for lodging the first updated reporting requirements in October.
Orient was one of the players involved in APRA's testing pilot.
"Working closely with parties across the industry, Orient Capital has delivered a reporting platform that meets APRA's reporting standards and also has the flexibility to change and adapt to any future requirements," said Orient Capital chief operating officer Paul Gardiner.
"Orient Capital, through its relationship with Australian Administration Services and Link Super, is committed to remaining at the forefront of regulatory reporting services and any future changes imposed by the regulator."
The technology provider is a member of the Link Group, one of the superannuation industry's largest administrators.
The research house has offered a silver lining after super fund returns saw the end of a five-month streak last month.
A survey of almost 6,000 fund members has identified weakening retirement confidence, particularly among those under 55 years of age, signalling an opportunity for super funds to better engage with members on their retirement journey.
The funds have confirmed the signing of a successor fund transfer deed, moving closer to creating a new $29 billion entity.
A number of measures, including super on Paid Parental Leave, funding to recover unpaid super, and frameworks to encourage investment in the energy transition, have been welcomed by the superannuation industry.
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