POWERED BY MOMENTUM MEDIA
VicSuper completes technology overhaul
Australian superannuation fund VicSuper has improved its technological capability to help deliver a better overall fund administration experience for members.
As part of the technology overhaul, VicSuper announced a partnership with Bravura Solutions — a move that helped the fund align its interests with a technology supplier to help its aim of gaining "deep expertise" in the local market.
VicSuper's chief executive, Michael Dundon, said the fund was committed to innovation and personalised digital service delivery to benefit its 240,000 members and 21,000 participating employers.
"It was critical for us to partner with a business who also wanted to innovate to help us provide the best possible member and employer experience and deliver on our strategic objectives," Dundon said.
"Both VicSuper and Bravura share the same aspirations for global best practice. It has been, and continues to be, an excellent cultural fit."
VicSuper said the modernisation of its major systems came in response to concerns over being "increasingly hampered" by a failure to integrate member data housed in different systems, as well as an inability to effectively deploy big data, analytics, and personalisation to improve product and service delivery.
Dundon confirmed that VicSuper will now focus on continuing to enhance its personalised digital programs and services for members.
"VicSuper is now using the most contemporary, best-practice system in the industry. We see this as an important step in our digital evolution," he said.
"We intend to keep innovating and to continuously enhance the products and services we offer our members."
AUTHOR
Daniel Paperny
Daniel Paperny is a technology journalist for Cirrus Media, writing for financial services mastheads FST Media, Money Management and Super Review. Previously, Daniel was the editor of the Bondi View newspaper, focusing on investigative news reporting in current affairs, finance, sports and politics.
Recommended for you
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.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
DomaCom DFS Mortgage
88.01 3 y p.a(%)
2
Global X 21Shares Bitcoin ETF
72.60 3 y p.a(%)
3
Global X GlobalX FANG+ ETF
44.46 3 y p.a(%)
4
Pengana High Conviction Equities B
39.12 3 y p.a(%)
5
Pengana High Conviction Equities A
39.05 3 y p.a(%)
