Iress will offer an automated administration service - Automated Super Admin - as superannuation funds seek to increase automation, and to improve efficiency and member experience.
ESSSuper, with $31 billion funds under management and 132,000 Victorian emergency services and public sector members, has signed an agreement with Iress for Automated Super Admin.
Automated Super Admin is built on Iress’ long history of providing software and services to Australia’s superannuation industry including fund administration, member access and member advice.
Automated Super Admin allows funds to:
- Deliver savings and sustainable efficiencies, allowing capacity to invest in higher-value services for members
- To focus on members, leveraging Iress’ technology platform, which is open and accessible through APIs to provide a seamless experience for funds, employers and members
- Focus their efforts directly on members while Automated Super Admin takes care of technology, delivery and maintenance.
Iress CEO, Andrew Walsh, said superannuation funds’ administration and outsourcing needs are increasingly technology-led with superannuation funds focusing on areas closest to member experience.
“The trend is for super fund operations closest to the member to be in-sourced. This includes member and employer servicing such as contact centres and investment management.
“Conversely, super funds are seeking to outsource functional services including administration. Funds are also seeking greater automation for accuracy, and greater efficiency to reduce operational costs thereby creating capacity to invest in transformation and higher-value services for members.
“Automated Super Admin will allow funds wanting to be highly automated to enjoy greater efficiency and deliver an improved member experience.
“We are delighted we will be delivering these benefits to ESSSuper and its members.”
ESSSuper CEO Mark Puli said extensive digitisation has occurred over recent years in the delivery of products and services to members.
“The super industry needs to evolve its transactional functions to be fully automated to further enhance the member experience, providing them with 24/7 access to their funds,” Mr Puli said.
“ESSSuper believes that, in partnership with Iress, we can deliver cost-effective automated services complemented by our locally-based call centre and member engagement teams.”
You can read more about Automated Super Admin here
