Brighter Super selects Reg360 for Granular Data Regulatory Reporting
27 March 2023
Brighter Super, a trusted Superannuation provider headquartered in Queensland, has selected Reg360 to uplift their Regulatory Reporting process. Reg360 is the latest regulatory innovation in microservices technology for prudential supervised entities and their supervisors. It will be used to complete Brighter Super Australian Prudential Regulation Authority (APRA) Prudential Reporting obligations.
“With the complexity that arises from several mergers and diverse data sources from multiple partners, added to increased APRA scrutiny of data quality in regulatory data submissions, our team sourced and are implementing new technology to best meet this ongoing challenge”, Hamish McKellar, Brighter Super General Counsel and Company Secretary explains, “with our long-term relationship with RegCentric assistance combined with the Reg360 technologies, our team are best supported to keep ahead of a challenging regulatory change timetable.”
Reg360, one of Australia’s leading RegTech companies, will continue to be supporting Brighter Super by upgrading them from RegConnect to the newest flagship platform Reg360. The end-to-end data governance solution addresses APRA reporting data governance obligations. Reg360, in partnership with RegCentric, provide an integrated APRA Reporting, managed service platform delivered in Software as a Service (SAAS).
Robert Philipsz, Product Manager at Reg360, expressed his team’s satisfaction with being able to continue serving Brighter Super. He stated “We are very pleased the RegConnect software platform has helped the Brighter Super team to maintain control, perform pre-validation, and make transparent submissions to both D2A and APRA Connect. It is a real testament to the team that they have decided to transition to the newest available platform Reg360 to meet the Granular Data governance requirements ahead of Super Data Transformation Phase 2 and Phase 3.
Meanwhile, more and more financial services entities using batch run and older style reporting technology are considering the move to this new platform and type of technology ahead of announcements for their industry by the regulator.
Reg360 delivers a collaboration platform which forms a central system-of-record for enterprise reporting. The solution supports firms to efficiently prepare and submit all regulatory reporting requirements, including granular data sets, in line with APRA’s 5-year roadmap towards “Comprehensive Data Collections”. Reg360 enhances regulatory reporting governance frameworks and enterprise data governance controls over data ownership, data quality, and data lineage.
About Brighter Super
Brighter Super is a member-owned industry superannuation fund with its head office in Brisbane. Brighter Super was born from its predecessor funds Energy Super, LGIAsuper and Suncorp Super and proudly serves members employed in the energy sector, Queensland local government, Suncorp Group and employers across Australia.
Reg360 provides innovative solutions in Data Management, Finance, Risk Management and Reporting across industry. The Reg360 team consist of highly experienced technology professionals who are passionate about leveraging technological advancement to drive efficiencies, deliver insight, and ensure regulatory compliance. Solution options allow for all Australian Prudential Regulation Authority regulated industries to be supported in their governance and workflow of finance, risk prudential reporting and submission requirements whilst being supported by a team of professionals who monitor regulatory updates locally and abroad. RegConnect and Reg360 are software products used by clients to meet APRA Regulatory Reporting requirements in Australia.
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