Mercer Up with Milestone in Australia

Sydney Australia

Mercer, which in the Asia-Pacific focuses on superannuation, investments, and financial advisory, has adopted Milestone's regulatory oversight service ahead of new Australian Prudential Regulation Authority (APRA) superannuation fund reporting requirements.

The solution makes use of the fund administration technology provider's pControl platform to process APRA forms efficiently. Regulatory changes include a 10-fold increase in data content, including data acquisition that is pre-aggregation, calculation, and validation. pControl is also being implemented for Mercer's client reporting portal, as well.

“The industry is preparing for the challenge of collating data from multiple sources, while managing reporting consistency across different time periods, all without escalating operational costs, and we have been particularly impressed by the drill-through and data verification functionality of pControl. The platform not only satisfies APRA return requirements now, but also positions us well to handle potential future regulatory changes," says Ben Walsh, who leads Mercer's financial services business in the Pacific.

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