Iress has confirmed that the merged entity of CareSuper and Spirit Super will utilise the firm’s Acurity Registry platform for its registry system and its Acurity Online portal for its digital member engagement and mobile app.
Namely, Iress’ Acurity Registry allows funds to consolidate legacy or disparate systems on a single registry, automating transactions such as contributions and processing through the platform.
Meanwhile, Acurity Online is a fully transactional online portal for superannuation members to view and maintain their super, manage insurance, trade shares, and consolidate and switch easily.
According to Iress, it will also continue to provide advice enablement software for the merged entity via Xplan Prime, which enables funds to produce and document objective-based advice in person, online or over the phone.
The two funds first announced their intention to merge in June, having entered into a binding agreement following an extensive due diligence process.
The merger, which is expected to be completed in late 2024, will create a combined fund with more than 500,000 members and almost $50 billion in funds under management.
Iress’ chief executive, superannuation, Paul Giles, said the firm is delighted to continue its longstanding relationship with Spirit Super.
“Since 2000, we’ve supported the fund to grow and transform through previous mergers and further enhance its ability to deliver for members,” Mr Giles commented.
“Spirit Super and CareSuper are leaders in member experience and we look forward to empowering them to find new and innovative ways to engage with their diverse member base.”
Spirit Super chief executive Jason Murray added: “Over the years, our fruitful partnership with Iress has enabled us to harness technology to drive business transformation and an improved focus on member engagement.
“We are confident that the capability of Iress’ team, combined with the flexibility and scalability of Iress’ software, will enable a smooth transition in the merger of our award-winning funds, while continuing to provide our members with the best possible experience now and into the future.”
Iress clarified that it will be working closely with both funds over the next 12 months to assist with the migration of member data from CareSuper’s former administrator.