Industry leading superannuation and investment software provider, Financial Synergy announces its largest Third Party Administrator (TPA) implementation with Pillar Administration (Pillar).
Pillar will migrate from its current multiple platform environment to deliver service for their client base using the core end-to-end Acurity™ specialist solution.
With 100 years of protecting the retirement savings of Australians, Pillar is one of the industry’s most experienced superannuation providers. Today Pillar administers an entire range of superannuation products, including some of the most complex Defined Benefits funds in the market for its clients who include, First State Super, State Super, Commonwealth Superannuation Corporation, Aon and Parliamentary Contributory Super Fund. Pillar has selected the Financial Synergy Acurity platform to support its business transformation program.
The highly configurable Acurity solution will deliver a modern exception-based processing capability to produce a more efficient and highly cost effective operational environment for Pillar clients and their members.
The Acurity platform flexibility will enable Pillar’s clients to develop their unique products, services, fee structures and digital experience offerings via the differentiation capabilities of the platform, unique to Acurity.
Peter Brook, CEO and Managing Director, Pillar said: “Financial Synergy was a clear choice for Pillar as they proved the Acurity platform can evolve and grow with our client funds requirements, legislative changes and wider market expectations and future opportunities.
Our implementation of core Acurity will take us beyond compliance confidence. It is a deliberate preparation for a 21st century way of administering and processing. This business transformation is critically important as we expand our own service offerings for digital and mobile engagement, positioning ourselves as a viable and highly compelling consideration for superannuation administration services.”
Stephen Mackley, CEO of Financial Synergy said, “The core platform benefits for Pillar and its clients will power a total business transformation.
Acurity will enable the levels of digital engagement they are looking for, speed-to-market with new products, and the ability to add new products cost effectively using a core solution. This is very cost effective for the future but also now strategically differentiates the Pillar offering from its competitors. It too can offer innovation as a service.”
The multi-phase business transformation process for Pillar will see its partners migrate to the core platform. First State Super is part of Release 1 of the project which will be delivered in April 2016, with further Releases scheduled later in 2016 and 2017.
Financial Synergy will establish a dedicated team for the project at the Pillar IT Centre in Coniston, Wollongong.