Australian superannuation fund VicSuper has improved its technological capability to help deliver a better overall fund administration experience for members.
As part of the technology overhaul, VicSuper announced a partnership with Bravura Solutions — a move that helped the fund align its interests with a technology supplier to help its aim of gaining "deep expertise" in the local market.
VicSuper's chief executive, Michael Dundon, said the fund was committed to innovation and personalised digital service delivery to benefit its 240,000 members and 21,000 participating employers.
"It was critical for us to partner with a business who also wanted to innovate to help us provide the best possible member and employer experience and deliver on our strategic objectives," Dundon said.
"Both VicSuper and Bravura share the same aspirations for global best practice. It has been, and continues to be, an excellent cultural fit."
VicSuper said the modernisation of its major systems came in response to concerns over being "increasingly hampered" by a failure to integrate member data housed in different systems, as well as an inability to effectively deploy big data, analytics, and personalisation to improve product and service delivery.
Dundon confirmed that VicSuper will now focus on continuing to enhance its personalised digital programs and services for members.
"VicSuper is now using the most contemporary, best-practice system in the industry. We see this as an important step in our digital evolution," he said.
"We intend to keep innovating and to continuously enhance the products and services we offer our members."