SS&C scores another super mandate

SS&C has been awarded a mandate from REI Super to serve as the superannuation fund's administrator.

SS&C Global Investor & Distribution Solutions (GIDS) will provide the $2.5 billion fund with superannuation administration services and streamlined operations support for its 24,000 members across Australia.

SS&C said it will leverage its local expertise, supported by its global investment in digital service channels, automation and artificial intelligence to enhance the member experience.

"As one of Australia's longest-standing superannuation funds, our focus has always been on serving our members," REI Super chief executive Jarrod Coysh said.

"SS&C's extensive track record in fund administration and innovative technology make them the ideal operations partner to help us best meet our members' needs."

SS&C head of GIDS Australia Shaun McKenna said the group is pleased to partner with REI Super.

"As the superannuation industry continues to grow and the regulatory environment evolves, it is imperative for funds to select the right external partner to meet their operational needs. We look forward to collaborating closely with REI to provide their members best-in-class experiences," he said.

SS&C has been open about its Australian expansion plans, saying it is a key growth market for the technology company. It said it is now on track to add more local capacity, employees, and office space in the second half of the year to meet increased regional demand.

Speaking to Financial Standard in March, SS&C global chair and founder Bill Stone said the company had been in talks with every Australian super fund to showcase its offering.

"We're making a big push here in Australia and I think we will continue to see success," Stone said.

"We're expecting to grow in the double digits over the next five years. So, we're excited about the opportunity, especially as super funds continue to grow, and quite rapidly, so we don't see why that would slow down."