Superannuation funds are facing greater pressure to aggregate data that had previously been largely fragmented, says DST Global Solutions.
The pressure stems from the Cooper Review’s calls for greater transparency and accountability, DST says.
The software developer that specialises in finance says superannuation fund trustees now want their custodians to provide them with a comprehensive view of their assets, often because of the tax implications for members.
“Superannuation funds are expecting data presented as information with analytics,” says Philip Hogan, managing director Asia-Pacific for DST.
Hogan predicts pressure to aggregate data will only increase if the wave of superannuation fund mergers continues.
“As superannuation funds grow larger they will face challenges in the same way asset managers face challenges when they have disparate sources of data,” he says.