Kaz links with super funds for software project
KAZ Computer Services has hooked up with a number of super funds to develop a global super-annuation management software product.
KAZ Computer Services has hooked up with a number of super funds to develop a global super-annuation management software product.
Under the agreement, signed with three as yet unnamed Australian super funds and Shearpond, KAZ will retain 22.5 per cent ownership interest in the product and have exclusive marketing rights in all markets, both within and outside Australia.
The super product will cover accumulation products, defined benefit schemes and pension capa-bilites.
KAZ managing director Peter Kazacos says most existing superannuation software has been su-perceded by changes in systems.
"Our research shows there is a high level of demand for a new standard of software because most of the existing industry specific software is dated and unable to fully support expanding require-ments of growing businesses,” he says.
The development of the software over the next 18 months is budgeted at more than $15 million. On completion, the three unnamed super funds will begin using the system for their collective 500,000 members.
AUTHOR
Recommended for you
AMP has launched a range of five diversified index managed portfolios on its North investment platform, targeting a younger client demographic.
A NSW adviser who advised over 120 clients after falsifying her financial advice exam results been permanently banned by ASIC.
ASIC has released the results from the latest financial adviser exam, the first to be run since changes to its structure earlier this year.
Sharing his reasoning in joining the FSC board, WT Financial managing director, Keith Cullen, believes “product and advice cannot be separated” from each other in the current environment.
