Vision Super Implements Financial Synergy for Administration

Vision Super is implementing a new core registry administration system from Financial Synergy to improve the fund’s efficiency and capability.

Vision Super is replacing its existing administration platform and introducing the new system from Financial Synergy, and will increase the administrative functions of workflow, reporting, correspondence and member/employer online experience, Vision Super says.
Vision Super is an industry superannuation fund with AU$7.5 billion in assets under management and 100,000 members.

“This project will bring Vision Super’s administration operations firmly into the digital age,” says Stephen Rowe, Vision Super’s CEO. “It will reduce our administration costs, increase administration efficiencies and make doing business with the fund easier for members and employers. Employers and members will have a better experience when they engage with the fund online. The websites for employers and members will be clearer, have more functionality, and better usability. They will be able to do what they need easier and faster.”

Vision Super says the administration system from Financial Synergy will add functionality to transact online, quicker turnaround times on transactions, better usability on the fund’s website, more responsive online service on desktop and mobile applications, improved communication channels for members through email and SMS, and more ability for the fund to tailor correspondence to members’ needs.

“Other funds outsource their administration work to third parties, in some cases giving them little say over how internal processing is performed,” Rowe says. “Equally importantly, the new platform is known to have a lower cost of ownership compared to other platforms. Major development work is also shared between financial service companies who use the same platform, further reducing costs.”