Iress announced that it has finalised a master services agreement with Commonwealth Superannuation Corporation (CSC) to adopt Iress software, Acurity, for the administration of its defined benefit scheme members. CSC selected Iress as a key technology partner to improve member outcomes, reduce administration complexity and drive down the cost to serve through a digital-first approach. CSC has embarked on a multi-year transformation program to uplift their member superannuation experience.

As a part of this, CSC selected Iress on an initial five-year contract to provide Acurity software for their defined benefit schemes for more than 500,000 customers to deliver the consolidation of legacy and disparate systems, migrate all products on a single registry, for cost efficiencies and to enhance access to data. The migration of members to Iress' unified registry and operating model will be managed in stages over a three year period with the first expected to be completed by July 2023. The financial impact of this new contract does not impact 2022 guidance.