REI Super Selects SS&C for Pension Management

SS&C Technologies Holdings, Inc. (NASDAQ: SSNC), a global leader in financial services and technology, has recently announced a long-term strategic partnership with REI Super, a leading pensions fund in Australia's real estate sector. This collaboration, achieved after a competitive bidding process, aims to enhance the operational efficiency and service quality of REI Super, benefiting its approximately 24,000 members across the country. Background and Partnership Goals REI Super, established in 1975, is one of Australia’s oldest and most respected pension funds in the real estate industry. It has been committed to providing tailored services and solid investment returns to its members and their employers for over five decades. With the goal of modernizing its services and improving member experience, REI Super opted for SS&C as its strategic partner, leveraging SS&C’s local expertise in retirement fund management and global prowess in digital services, automation, and artificial intelligence (AI). Key Elements of the Agreement Under this agreement, SS&C Global Investor & Distribution Solutions (GIDS) will take charge of managing REI Super’s pension funds and optimizing its operational processes. The focus will be on simplifying the way members access information and services, thus allowing REI Super to concentrate more on its core competencies—delivering optimal retirement financial advice and developing comprehensive savings plans. SS&C’s advanced technologies, including AI and automation, are expected to play a crucial role in achieving these goals. Executive Statements and Company Visions Jarrod Coysh, CEO of REI Super, expressed his enthusiasm for the partnership. “Our mission as one of the earliest pension funds in Australia is to prioritize our members’ interests,” he said. “SS&C’s combination of profound fund management knowledge and cutting-edge technological support aligns perfectly with our vision to modernize our services and continuously enhance member satisfaction.” Shaun McKenna, the Head of SS&C Technologies Australasia, commented, “We are thrilled to partner with REI Super. In the face of growing market trends and evolving regulatory landscapes, funds need robust and adaptable solutions. Our collaboration will ensure that REI Super members enjoy seamless, personalized, and high-quality management experiences.” McKenna also highlighted SS&C’s plans to significantly expand its presence in Australia over the next few years, anticipating growth in the retirement and wealth management sectors. Benefits and Expected Outcomes The partnership is anticipated to bring about several benefits: 1. Operational Efficiency: By utilizing SS&C’s advanced technology, REI Super can streamline its operations and reduce errors, ensuring data accuracy and timely services. 2. Enhanced Member Experience: The integration of digital channels, smart automation, and AI will make it easier for members to manage their pensions, offering personalized and efficient financial services. 3. Focus on Core Business: Freed from operational burdens, REI Super can dedicate more resources to developing and providing superior retirement financial advice and strategies. Growth Projections and Market Impact SS&C’s expansion plans are ambitious. By 2025, the company expects to manage approximately A$180 billion in assets for over 1.6 million pension and wealth management account holders in Australia. To meet this demand, SS&C intends to grow its local workforce to nearly 2,000 employees. This significant investment underscores SS&C’s commitment to becoming a leading player in the Australian pensions management landscape. Industry Evaluation Industry experts have lauded the collaboration between SS&C and REI Super. They view it as a clear example of how complementary strengths and shared visions can drive significant improvements in service delivery and operational efficiency. SS&C’s recent investments in technology, particularly in AI and automation, have positioned them as a formidable player in the financial services sector. Meanwhile, REI Super’s long-standing reputation for stability and customized service makes it an ideal partner for leveraging these technological advancements. Company Profiles REI Super: - Founded in 1975. - Primarily serves real estate professionals and their employers. - Offers comprehensive retirement solutions, pension products, and financial consultations. - Committed to members' interests and personalized service. SS&C Technologies: - Established in 1986. - Headquarters in Windsor, Connecticut, USA. - Provides specialized software and services to financial and healthcare industries. - Serves over 22,000 clients globally, ranging from small businesses to multinational corporations. - Listed on NASDAQ with the stock code SSNC. - Known for significant investments in AI, automation, and digital transformation. Conclusion The partnership between SS&C and REI Super marks a significant step towards modernizing pension fund management in Australia. By combining SS&C’s technological innovations with REI Super’s industry expertise and stability, both companies are set to deliver enhanced, efficient, and personalized financial services to REI Super’s members. This collaboration not only showcases the potential of technology to revolutionize traditional financial practices but also highlights the growing importance of digital transformation in the retirement fund sector.