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CSC selects Iress as technology partner
Iress has been selected as the software for the defined benefit scheme of the Commonwealth Super Corporation (CSC).
CSC would use Iress’ Acurity software as its key technology partner to improve member outcomes, reduce administration complexity and drive down costs.
The fund, which had $58 billion in assets across 11 different schemes, provided super to current and former Australian Government and Australian Defence Force employees.
The move was part of a multi-year transformation programme by CSC to uplift their member experience and improve operational efficiency.
Iress would now migrate more than 500,000 customers to its unified registry and operating model over a three-year period with the first tranche expected to be completed by July 2023.
Iress chief executive, Andrew Walsh, said: “This announcement highlights the significant demand to adopt a target operating model underpinned by digitisation and automation; regardless of fund size or complexity”.
Damian Hill, chief executive of CSC, added: “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”.
AUTHOR
Laura Dew
Laura Dew is editor at Super Review. Prior to joining SR, she spent five years working at Investment Week in the UK covering asset and wealth management.
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