The bulk of the Australian Prudential Regulation Authority's (APRA's) new reporting standards came into effect on July 1 this year, with an increased number of requirements around aspects such as investment performance, fund profile, and financial statements. The first set of upgraded reports is due to be finalised in October.
Orient Capital said its new reporting service integrates data in different formats from multiple custody providers, accounting systems and underlying superannuation administration systems and will support over 60 funds.
The system is based around Orient Capital's existing miraqle investor relations platform, which Orient said will allow for secure sign-on for existing clients and reduced overall administration resulting from multiple systems and data sources.
Orient also said it participated in APRA’s recent pilot testing program.
Orient Capital chief operating officer Paul Gardiner said the solution needed to bring together data from multiple sources “with integrated workflow that automatically applies APRA's verification rules to provide funds with timely and accurate reporting”.
Orient Capital is a member of the Link Group, along with super fund administrators AAS. The company provides technology services across the registry, custody, superannuation, listed companies and investor relations areas.
