POWERED BY MOMENTUM MEDIA
FESSF replaces legacy system with Bluedoor
The Fire and Emergency Services Superannuation Fund (FESSF) has chosen DST Global Solutions' Bluedoor wealth management system to replace its existing administration system.
The transfer will move the industry super fund away from its existing legacy system, Bravura's SAS administration platform, to a "low cost, next generation platform," according to DST Global Solutions Bluedoor executive director Martin Spedding.
The platform will include core registry, web portal, automated workflow, imaging and intelligent character recognition, as well as other services.
Spedding said the change-out would automate the fund's pension accounts and bulk correspondence as well as enhance web functionality and give members access to online services.
"It's a quite significant change. They're skipping about five or six generations of technology...It demonstrates the sort of efficiency gains that even small funds can have with investment in the right technology," he said.
FESSF chief executive Adrian Rutter said the move would allow the fund to reduce the maintenance costs and overheads associated with operating a legacy system and fit into a plan to enhance member services.
"It provides a complete superannuation administration system to manage FESSF's accumulation, defined benefits and allocated pension offerings on a single technology platform.
"Our members and employers will benefit from improved online services and substantial operational efficiency gains in our back office," Rutter said.
Bluedoor will allow FESSF, which has $388 million in funds under management, to offer services associated with larger organisations.
"It really gives them a pathway to the future because they have a highly flexible, open architectured system which just makes dealing with change very easy and significantly easier than it is in a highly manual environment," Spedding said.
Although DST normally takes 9-12 months to implement Bluedoor, Spedding said FESSF will have transferred to the new administration platform by December.
AUTHOR
Staff Writer
Money Management staff writers are writers who contribute to the website from time to time. If you would like to discuss the content contained within this article please contact us.
Recommended for you
Governor Michele Bullock took a more hawkish stance on Tuesday, raising concerns over Donald Trump’s escalating tariffs, which sent economists in different directions with their predictions.
Equity Trustees has announced the appointment of Jocelyn Furlan to the Superannuation Limited (ETSL) and HTFS Nominees Pty Ltd (HTFS) boards, which have oversight of one of the companies’ fastest growing trustee services.
Following growing criticism of the superannuation industry’s influence on capital markets and its increasing exposure to private assets, as well as regulators’ concerns about potential risks to financial stability, ASFA has released new research pushing back on these narratives.
A US-based infrastructure specialist has welcomed the $93 billion fund as a cornerstone investor.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
Global X GlobalX FANG+ ETF
33.51 3 y p.a(%)
2
Spire Oaktree Opportunities XI Second Close
32.68 3 y p.a(%)
3
DomaCom Lot 21 Chellaston Road Munno Para West SA 5115 Australia
31.62 3 y p.a(%)
4
Spire Oaktree Opportunities XI First Close USD
31.36 3 y p.a(%)
5
Fidante Credit Suisse Global Private Equity
29.60 3 y p.a(%)
