Consulting firm PricewaterhouseCoopers (PwC) has tested the internet-based services brought to market by a revamped administration services vendor.
PwC reviewed the security, processes and functionality of the products offered by AdminPARTNERS, a back-office service provider targeting boutique superannuation administrators and funds managers, confirmed director John Donovan.
Its internet-based services were tested against “industry standard practices”, particularly web application security, and its internal security and processes were reviewed with reference to guidelines set by the Australian Prudential and Regulatory Authority, Donovan said.
Its offerings include member reporting and record-keeping services for administrators and managers under the Cooper Review-inspired title of MySuperSolutions, in addition to business, technical and data management services.
AdminPARTNERS was formed when Queensland Trustees and Investments (QTI) bought administration business GPen in 2009, increased its headcount and invested in its systems.
Donovan said the administrator underwent the test so it could provide clients and prospects with a legitimate assessment of its services following the QTI takeover.
He said the vendor currently services about 100,000 member accounts through its arrangements with boutique administrators and funds.