Financial services firm automates superannuation portability reporting

The customer

The customer is a diversified financial services provider with over 14,000employees globally and more than $400 billion in assets under management. The organization operates across multiple sectors, including banking, investment, and asset management, serving a broad client base ranging from individuals to institutions.

Known for its focus on innovation, risk management, and operational excellence, the company plays a key role in the financial services ecosystem. It consistently invests in technology to improve efficiency, meet regulatory obligations, and deliver high quality outcomes for clients and stakeholders alike.

Challenge:

As part of its regulatory obligations, the company must identify any superannuation members holding illiquid assets that may impact the portability of their accounts. This process is essential to ensure compliance with legislation requiring timely and accurate transferability of superannuation funds.

Previously, this task was performed manually using spreadsheets, making it time-consuming, error-prone, and inconsistent. The process required significant effort to cross-check member holdings against various asset categories, including delisted equities and blocked funds. Without automation or audit trails, there was a high risk of oversight or regulatory breach, and the process was heavily reliant on a small number of key staff, creating operational vulnerability and limited scalability.

Solution:

To eliminate the risks and inefficiencies of manual processing, the company implemented an automated solution using Solvexia to support its superannuation portability obligations. The solution ingests four sets of data—including holdings, delisted equities, blocked funds, and fund relief—and runs a comparison across 500,000 asset holdings for over 50,000 members.

In just under three minutes, the process produces three Excel-based exception reports that clearly highlight members whose accounts may be affected by illiquid assets. With 40 automated steps and a configuration effort completed in less than 10 days, the solution is easy to maintain and scalable, requiring only minimal input from one team member for ongoing updates.

Results:

The once time-consuming and high-risk task is now a fast, fully automated process, allowing staff to focus their time on analyzing and actioning exceptions, rather than chasing down data. Processing is now consistent, auditable, and reliable, giving the business full confidence that every step is completed as intended—significantly reducing compliance risk.

The automation has also improved team flexibility, enabling simple handovers and minimizing reliance on specific individuals. With exception reports generated in minutes and clear validation throughout the process, the company now meets its regulatory obligations more efficiently and with far greater control.