BRISBANE, 16 March 2010: Cuscal, developers of the ClickSuper online, ecommerce solution for superannuation contributions and rollovers, today welcomed Jeremy Cooper's call for an overhaul of the back-office technology systems used to administer Australian superannuation funds.

Mr Cooper, speaking in an opening session of the Conference of Major Superannuation Funds (CMSF) in Brisbane, advocated the introduction of ecommerce as a way of simplifying and speeding up the administration of superannuation contributions and rollovers. He described the shift away from manual, cheque based administration towards electronic, online administration of superannuation as the "low hanging fruit" that could be addressed by the industry, bringing it in line with the systems now commonly in use in other areas of financial services.

Cuscal's ClickSuper products, developed with specialist technology provider Payment Adviser, links electronic payments seamlessly with electronic data to allow:

• Online management of superannuation contributions and rollovers - streamlining processes for employers, superannuation funds, superannuation administrators and payroll providers;
• A paperless system, which eradicates the need for manual, cheque handling to process contributions and rollovers;
• Data relating to the payments to be provided at the same time as the payment itself, including complete information about the individual members accounted for.

The ClickSuper products offer benefit by:

• Reducing the amount of time it takes to process rollovers and contributions from six weeks to three days on average, significantly reducing the non-investment period for members;
• Reducing operational costs via the introduction of an electronic system as opposed to manual, cheque-based system;
• Improving data collection and integrity, with the ability to include standard forms and/or limitless data fields together with payments, including name, date of birth, tax file number, and email address.

"Our ClickSuper products can bring Mr Cooper's vision for superannuation to be paid to the right member, in a simple and timely fashion, and without the need for manual handling, to reality today," said Adrian Lovney, general manager, Cuscal.

"Payment Adviser's expertise in data reconciliation alongside our expertise as a wholesale and transactional banking provider facilitates the matching of payments to data electronically, so employers can easily administer employee contributions to multiple funds, and superannuation funds can facilitate rollovers, in a fraction of the time it normally takes and with all of the supporting data required.

"No matter how the final recommendations of the Cooper Review are embraced universally, employers, superannuation funds, administrators, and payroll providers will naturally start to move towards electronically-based systems because of the cost savings, efficiencies and reinvestment benefits they bring. Fortunately our ClickSuper products require no re-engineering of back-end systems, they simply and easily bolt-on to data collection and administration systems already in place," said Mr Lovney.

Cuscal and Payment Adviser are currently in talks with payroll technology providers, Australian superannuation funds, and administrators to bring the ClickSuper products to market.

Cuscal is demonstrating the ClickSuper electronic management tools as part of the CMSF exhibition. CMSF runs until Wednesday, 17 March 2010, at the Brisbane Convention and Exhibition Centre.

About Cuscal
Cuscal is a leading business-to-business provider of wholesale banking and transactional banking services in Australia. Servicing more than 100 specialist retail financial institutions, including the majority of Australia's credit unions, Cuscal processes more than 100 million electronic banking transactions each year and manages the assets of a customer base with a collective balance sheet of more than $30 billion.

For more details on ClickSuper, please visit www.clicksuper.com.au.
Further information on Cuscal can be found at www.cuscal.com.au.

About Payment Adviser
Payment Adviser's smart technology radically simplifies the way data and payments are issued and processed by accurately and consistently tracking the transaction data and seamlessly linking it to an electronic payment to negate the need for reconciliation. The data can be downloaded to significantly save on administration costs or viewed as a PDF.

The technology is capable of integrating with global banking systems to support any type of transaction process that would benefit from the efficiency gains and cost savings that can be achieved by seamlessly linking payments with data to automate reconciliation.

Focusing on progressively replacing paper-based processes with faster, more efficient technology, Payment Adviser's solutions help organisations control and reduce costs, manage risk and improve customer service through the minimisation of payment errors.

For further information on Payment Adviser, please visit www.paymentadviser.com.au.

To arrange interviews or for further information, please contact :
Caroline Hendra
Cuscal
M: 0412 491 574
T: 02 8299 9267
E: chendra@cuscal.com.au

Brad Rosenthal
Payment Adviser Pty Ltd
M: 0419 230 161
T: +61 2 8090 1133
E: brad.rosenthal@paymentadviser.com.au