CSC adopts Iress software
The Commonwealth Super Corporation (CSC) has announced it has selected Iress as its key technology partner and will implement its Acurity software to administer its defined benefit scheme for over 500,000 members.
The deal comes as CSC continues its “multi-year transformation program” to develop and improve their members’ superannuation experiences, signing Iress on to a five-year contract to modernise legacy systems and move all products to a single registry.
To preserve cost efficiencies and access to data, the process of migrating members will be completed in several phases over a three-year period, with the first expected to be completed by July 2023.
“We’re pleased to be selected by CSC to support its vision of reducing cost, minimising risk and eliminating the need for manual and paper-based workflows in favour of technology-driven straight-through processing,” Andrew Walsh, Iress chief executive, said.
“This announcement highlights the significant demand to adopt a target operating model underpinned by digitisation and automation; regardless of fund size or complexity.”
CSC currently manages approximately $59 billion for members across 11 different superannuation and fund arrangements, with members consisting of former Australian Government and Australian Defence Force. employees
“We’re committed to putting customers first, and this is another important step in a significant transformation program aimed at improving member outcomes and operational efficiency,” Damian Hil, CSC chief executive, said.
“We selected Iress due to its deep industry and technology expertise, as well as the strength and ability of its software capabilities to deliver on our goals.”
Even after the disasters created at ESSSuper when Iress started to administer their DBs? Poor members.
https://www.3aw.com.au/tom-elliott-fumes-over-superannuation-mess-impacting-victorians/