The right to administer six million superannuation accounts is up for grabs in what is arguably Australia’s largest ever tender for a financial services systems replacement.
Member administrator Superpartners is working with global IT consultancy, CapGemini, to identify an appropriate replacement for its internal legacy platform, R2. A steering committee including delegates from Superpartners’ major industry fund clients and owners has been assembled to drive the process, which is understood to have been underway for months. It is understood that clients’ most pressing reason to want R2 replaced is the system’s inability to facilitate daily unit pricing. External systems understood to be under consideration by Superpartners include Synchronised Software’s CapitalX, Financial Synergy’s Acurity, Australian Administration Services’ AASpire (formerly Atune), Bluedoor’s Wealth.Net and Bravura’s Sonata. The chief executive of Superpartners for the past six months, former AMP NZ managing director Greg Camm, was unavailable for comment.
11 March 2008 00:00
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Ryan Riedler, head of ASX core strategy, Australian equities at Cbus, says the fund will look to generate alpha locally through engagement and that internalisation will help it strengthen its connection with other market participants, as well as its brokers and service providers.
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