Kina expands IRESS’ Acurity administration

Papua New Guinea’s fourth largest bank, Kina Securities announced its fund administration division would expand its implementation of IRESS’ Acurity Online, and would now be available to more than 700,000 members.

The new portal and mobile app would provide PNG superannuation members with access to their fund information online. Member would also be able to update their details, access their balance and transaction history and view their statements from any device.

Through Acurity employers would also be able to lodge contributions online, reducing administration times and positively impact data matching and super engagement rates.

General manager of Kina’s wealth management business, Adam Fenech, said the expansion was likely to raise the benchmark for PNG members and the wider Pacific market through improving services across the board.

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“This sees paper-based forms removed from transactions and the majority of member transactions completed within one business day,” said Fenech. “Automated data matching ensures that member details in employer payroll systems reliably match the data in the superannuation system in PNG for the first time. This is key to the delivery of a better member and employer experience."