The 2024 ASFA conference saw Oban, ANZ and GROW Inc, in collaboration, present a Real-time SuperStream Payment solution at the Innovation Pavilion.
Digital currency was at the heart of this pilot which demonstrated a unique way of processing contributions with many benefits over the traditional approach used by clearinghouses. In particular:
- Payment and contribution data are pre-validated prior to sending to the Superfund
- Exceptions are reported back to the Employer in real-time for correction
- Payment of SG Contributions are made in real-time
- Payment and data travel down the same path simultaneously
- Allocation of Member contributions is guaranteed as all data is pre-validated
- Removes counterparty risk of funds in transit
You can see the full presentation here.