GBST Holdings Limited (ASX: GBT), a global provider of securities transaction and wealth management platforms for the financial services industry, today announces the successful completion and go live of its SuperStream Gateway for Superannuation Rollover and Contribution Transactions. GBST’s SuperStream Gateway is the first service of this kind to go live into production and be ready to receive SuperStream compliant contributions from employers on behalf of their Superannuation Fund clients and SMSF service provider clients.
This latest first to market offering from GBST will ensure all GBST Gateway clients are SuperStream “ready” for 1 July for the receiving of SuperStream standard Employer Superannuation contributions. This latest milestone represents the final phase of the joint superannuation industry and Australian Taxation Office SuperStream initiative which allows for automation of superannuation transactions across the financial services network, enabling Employers to deliver employee Superannuation contributions in a standard electronic manner to end Funds.
Of the eight established SuperStream Gateways who are part of the live Superannuation Transaction Network, GBST is the only technology solution provider that is both a gateway provider and a superannuation platform specialist delivering both full service and ‘plug and play’ component solutions.
Rob De Dominicis, CEO of GBST Wealth said: “We are proud to be first to market with our SuperStream Gateway contributions capability – what is in essence the final piece of the SuperStream puzzle. We have remained focused and committed to meeting each deadline and maintaining our innovative approach throughout the process. This is a significant achievement and highlights the depth of GBST’s understanding of the industry, technology capability and the ability to deliver robust solutions in line with aggressive legislative timelines.”
The GBST SuperStream Gateway offering will be used by a range of Funds, as well as being the Gateway solution provider behind six of Australia’s 12 leading SMSF service offerings.
Among these clients is Class, provider of Australia’s market-leading cloud based SMSF administration software, Class Super. Class has developed two SuperStream offerings – a Class integrated solution and a free, open and portable public solution called SMSF DataFlow.
Kevin Bungard, Chief Executive Officer of Class said: “It’s an outstanding achievement for GBST to have fully implemented SuperStream before the ATO mandated dates. GBST has been instrumental in enabling us to deliver a SuperStream solution to our clients.”
In acknowledgement of this unique achievement, GBST and Class have been selected to co-present the GBST SuperStream Gateway solution and Class SuperStream solutions to the ATO SuperStream Contributions Implementation Working Group.
GBST (ASX: GBT), provides global technology services to the financial services industry, addressing our clients’ constant needs for innovation, competitiveness and responsive IT that truly enables business. Listed on the Australian Securities Exchange, GBST has offices throughout Australia, London, Hong Kong and New York as well as operations in Paris and Singapore.
Class is the provider of Australia’s leading cloud-based SMSF administration software, Class Super, which was launched in 2009. Every day, thousands of accountants across the nation rely on Class Super to quickly and efficiently administer over 50,000 funds.
Head of SuperStream Services, GBST
D: +61 (0) 458 497 055
P: +61 (0)402 327 633