In a statement, Financial Synergy said it will integrate its Acurity platform on a subscription basis for Statewide Super.
“No longer do trustees and funds have the same appetite to ‘purchase’ a platform with significant upfront costs and separate maintenance agreements,” Financial Synergy chief executive Stephen Mackley said.
“Our goal is to be the early adopter of this model and actively promote this option to industry moving forward."
According to the statement, the "software-as-a-service" model will allow Statewide Super to focus on fund administration and its members, rather than software development and maintenance.
Statewide Super chief executive Richard Nunn said: “Our core focus has always been our members and this is a great opportunity to take advantage of delivering one of the most competitive super fund administration platforms.”
Financial Synergy has opened a new managed services division to offer the new software model.
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