Grow Super has signed its first client for its superannuation administration platform which is based on distributed ledger technology.
Startup superannuation fund GigSuper came onboard in late December, Grow Super deputy chief executive Adam Gee said.
Grow is also participating in tenders for several other super funds, Gee said.
Grow Super's new platform, which is called TINA, was announced in July last year. Gee, who was previously a partner at KPMG focused on superannuation, joined in April and was tasked with implementing Grow's plans for the platform.
The admin platform is to become Grow Super's primary business, putting it in competition with administration giants Mercer and Link.
In December, Grow chief executive Josh Wilson told Financial Standard that the company was looking to divest its superannuation fund, and pivot its business towards providing admin services to other superannuation funds.
The admin platform will provide an outsourced solution for superannuation funds for functions such as APRA reporting, taxation, financial accounting and member and employer servicing, Wilson said at the time.
Also in December, the fund hired Qantas Super's chief operating officer Peter Savage to head the new administration services business.
GigSuper announced its plans to launch in 2017, targeting self-employed Australians. As at April 2019, it hadn't launched a product - similar to other new entrants Tomorrow Super, Sprout Super and Kogan Super.