SuperChoice, which processes super contributions made by 50,000 Australian employers, has eliminated the “hand-off ” it once had to make to Westpac via an interface with ANZ which allows it to track transactions every step of the way, according to chief executive officer Peter Philip. The superannuation sector is a “strategic priority” for ANZ, according to the head of its Funds Australia division Philip Carmont, so the banking relationship with SuperChoice “made sense” alongside other better known plays such as its buy-out of ING Australia and rumoured interest in IOOF.
Read more