AUSCOAL mines members’ data with DST

AUSCOAL Super has gone live with the Australian-developed DST Global Solutions Bluedoor platform for administration of its 65,000 member accounts. The fund, with $5.2 billion in funds under management from workers in the country’s coal industries, aims to save between 20 to 40 per cent of its administration costs and extend its member services through the Bluedoor solution. DST won the contract ahead of four competitors in a yearlong review because AUSCOAL was convinced that the software vendor understood its aims in administration, says Bruce Watson, CEO of AUSCOAL.

“DST really understood the superannuation industry and the requirements we faced to improve both our business processes and customer service solutions at the same time,” Watson says. Simultaneously, AUSCOAL launched the Bluedoor web portal for employers, members and advisers. Employers will be able to manage their contact details, update employees’ details, manage and submit new members and contributions, transfer funds and advise terminations. Members can access – through an electronic filing cabinet – their account details and history, and manage investment options and changes.

Also, they can manage insurance and beneficiaries, roll money over into the fund, and update their personal details. DST was chosen in December last year so the rapid 6-month implementation will benefit members quickly, says Martin Spedding, executive director for Bluedoor. It was “a very practical example of how improvements in wealth management support” could be done in a “relatively short time”, he says. Within 12 months, AUSCOAL had chosen Bluedoor, Spedding says, and then converted records to go live.