SuperChoice processing SuperStream rollovers
Specialist superannuation e-commerce network company, SuperChoice this week announced that its it had successfully processed some of its first SuperStream transactions via its SuperGATE Rollover Gateway solution.
It said that the major super funds using the solution included AMP, MLC, IOOF, Perpetual, Suncorp, SunSuper and Zurich.
Commenting on the development, SuperChoice chairman Peter Philip said it represented a major milestone.
"This is the realisation of hundreds of man-years of effort across the industry to build and integrate these new standards in an extremely short timeframe," he said.
The company describes SuperGATE as "a comprehensive suite of technologies that provides funds with the ability to process both rollovers and contributions utilising the new SuperStream standards between themselves and their trading partners".
Recommended for you
ASIC’s enforcement action is having an active start to the new financial year, banning a former Queensland financial adviser for 10 years in relation to fees for no service conduct.
ASIC has confirmed the industry funding levy for the 2024–25 financial year, and how much licensees can expect to pay.
Australian licensees are expected to make greater use of custom model portfolios for their clients, according to State Street Investment Management, following in the footsteps of US peers.
Adviser Ratings has argued that it’s time for more advisers to utilise digital engagement tools available to them as a disconnect grows between consumers seeking advice from finfluencers and from professionals.
