Aware Super has claimed that the migration of more than 1.1 million members onto a single technology platform has established it as the “super fund of the future” on a local and global scale and created an operating model blueprint for Australia’s super industry. The $160 billion super fund said that the migration, which involved phasing out paper-based legacy systems and a transition to the Bravura Sonata Alta platform, will allow it to deliver exceptional member services and to reduce costs and fees. According to Aware chief executive officer Deanne Stewart, the digital transformation was key to enabling the super fund to fully realise the benefits of scale achieved through its notable mergers in recent years, including with First State Super, VicSuper, WA Super, and StatePlus. Ms Stewart argued that super and pension funds were “long overdue” for digital transformation. “To stay competitive and meet new regulations, they need to give members the kind of intuitive digital experience consumers now expect everywhere else in the global economy,” she said. “The key prize we’ve achieved for Aware Super members is a single platform that allows us to personalise and control the member experience from end-to-end so that they can now […]
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