Iress today announced that Spirit Super and CareSuper have selected Iress’ technology as the foundation for their merged entity. The Spirit Super and CareSuper merger is expected to complete in late 2024, creating a combined fund with more than 500,000 members and almost $50 billion in funds under management.
The merged entity will manage its own administration, selecting Iress’ Acurity Registry platform for its registry system and Iress’ Acurity Online portal for its digital member engagement and mobile app. 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. Iress’ 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.
Iress 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.
Iress’ CEO of Superannuation, Paul Giles, said: “Iress is delighted to continue our long-standing 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. 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 CEO, Jason Murray, said: “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 will be working closely with Spirit Super and CareSuper through the merger process over the next 12 months, assisting with the migration of member data from CareSuper's former administrator.