SuperConcepts has strengthened its SMSF platform, SuperMate, with a new security protocol designed to prevent improper access to users’ financial information.
The new security measure introduces a more rigorous verification process, requiring additional proof when confirming bank account details for ATO refunds and SuperStream transactions.
According to the SMSF software provider, this approach is intended to increase protection against potential system vulnerabilities, ensuring fraudsters cannot manipulate or bypass security checks.
“Fraud is a serious concern for the accounting and financial services industry. This is a crucial feature for large enterprise clients and firms that are seeking to reduce the risk of fraud in their business,” SuperConcepts chief executive Matthew Rowe said.
SuperConcepts highlighted the move is part of its ongoing commitment to improving the SuperMate platform, allowing clients to engage in the SMSF administration process safely and seamlessly.
“The bank account verification feature is further proof that SuperMate is the ideal technology partner for firms offering SMSF services at scale,” SuperConcepts chief technology officer Andy Forbes added.
This verification measure is the latest in a series of enhancements to the firm’s flagship software, following last year’s integration for users of Macquarie Bank’s cash management account, the introduction of a new trustee dashboard, and a partnership with open banking provider SISS Data Services.
The firm has also invested in workflow automation, property processing, and recently partnered with The Principals’ Community, wealth management firm First Financial, and accounting and advisory firm BDO.
