DST pitches Anova solution at super compliance
DST Global Solutions has put forward its Anova solution as a product that can help superannuation funds handle the more stringent data reporting requirements which will come into force from 1 July, this year.
The company said its Anova solution was designed to assist funds to meet the new requirements in a timely manner, allowing them to continue to focus on their core business of investment and member management.
Commenting on the solution, DST sales director for Australia and New Zealand, Adam Ratner, said the Australian Prudential Regulation Authority reporting changes would place considerable operational and technological pressure on super funds because the level of detail required was greater than many funds themselves currently collect.
Ratner said the Anova solution could help funds scale data and update data collection as required.
"By consolidating data into a single database, consistent and accurate reporting is enabled from a single source," he said.
Ratner described Anova as consisting of three distinct products, which could be used together as needed:
• Anova Aggregator, combing and consolidating post-trade accounting and analytic data in order to provide comprehensive investment information to end users, including regulators;
• Anova Performance, a well-established and scalable performance measure and attribution tool; and
• Anova Compliance, a flexible rules-based post-trade investment compliance solution with real time ‘intelligent alerts' on limits and restrictions breaches.
Recommended for you
Insignia Financial has issued a statement to the ASX regarding a potential bid from a third global private equity business to acquire the firm.
More than 30 advisers fell off the FAR during the Christmas and New Year period, according to Wealth Data, with half of these coming from licensee giant Entireti.
With next-generation heirs unlikely to retain their family’s financial advisers after receiving an inheritance, Capgemini has explored how firms can work with younger generations to maintain a relationship.
The use of technology and data analytics will be a way for advice firms to grow in 2025, according to Adviser Ratings, with those who are using it successfully reporting 10 per cent higher profit margins.
