Leading superannuation administration provider Pillar will adopt Financial Synergy’s Acurity platform to deliver a more efficient and cost-effective operational environment.

Pillar Administration has announced it will implement Financial Synergy’s Acurity platform in a bid to enhance their exception-based processing capability and produce a “more efficient” and “highly cost-effective” operational environment.

Pillar’s CEO and Managing Director, Peter Brook, said that Pillar will migrate from its current multiple platform environment to the new core end-to-end Acurity specialist platform as part of an overall business transformation.

“Our implementation of core Acurity will take us beyond compliance confidence. It is a deliberate preparation for a 21st century way of administering and processing,” he said.

“This business transformation is critically important as we expand our own service offerings for digital and mobile engagement, positioning ourselves as a viable and highly compelling consideration for superannuation administration services.”

Brook noted one of the key benefits of Acurity was its flexibility, which will enable Pillar’s clients to develop their unique products, services, fee structures and digital experience offerings via the differentiation capabilities of the platform.

Financial Synergy CEO Stephen Mackley said the move represents a key step for Financial Synergy’s Third Party Administrator (TPA) implementation, with the “highly configurable” Acurity solution set to deliver key benefits for Pillar and its clients.

“Acurity will enable the levels of digital engagement they are looking for, speed-to-market with new products, and the ability to add new products cost effectively using a core solution,” Mackley said.

“This is very cost-effective for the future but also now strategically differentiates the Pillar offering from its competitors. It too can offer innovation as a service.”

The transition to Acurity will also see Pillar’s partners migrate to the new core platform. Release 1 of the Pillar’s business transformation process sees First State Super adopt Acurity in April next year, with further releases mooted over the next two years.