Banking

Superannuation - Portability Reporting

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Client

Diversified financial services provider with over 14,000 staff and managing more than $400b.Problem

Problem

For regulatory purposes, the company needs to identify any superannuation members who are holding illiquid assets (preventing portability of their account).

Solution

Automated solution to compare holdings data with multiple lists of illiquid asset to produce exception reporting for the administration team to action.

This case study shows how a diversified financial services provider used SolveXia's automated processes to fix its portability reporting problem.

Key metrics:

  • 40 steps automated.
  • End-to-end process completed in under 3 minutes.
  • Combining four sets of data; Holdings, Delisted equities, Blocked funds and Fund relief.
  • Checking 500,000 asset holdings for more than 50,000 members.
  • Production of three Excel-based exception reports.
  • Entire solution configured with less than 10 days of effort.
  • Ongoing maintenance and enhancement of solution performed by 1 member of the business team (as/when needed).

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