SuperMate releases new bank account anti-fraud verification feature

Enterprise SMSF software SuperMate have announced the launch of a new bank account verification feature, designed to help administrators reduce the firm’s risk of fraud.

The new feature requires an in-built separation of duties to verify the bank account details for ATO refunds and SuperStream transactions, adding an extra layer of security to what may be considered vulnerabilities in the eco-system.

“Fraud is a serious concern for the accounting and financial services industry,” said Matthew Rowe, CEO of SuperConcepts. “This is a crucial feature for large enterprise clients; and firms that are seeking to reduce the risk of fraud in their business.”

The bank account verification feature is part of the significant investment made to SuperMate over the last twelve months. The company has also made investments in workflow automation, property processing, adviser and client portals, and integration with leading industry platforms.

“Bank Account Verification feature is further proof that SuperMate is the ideal technology partner for firms offering SMSF services at scale,” said Andy Forbes, Chief Technology Officer, SuperConcepts.

With a dedicated migration team, SuperMate ensures a smooth transition for new clients from other platforms.

SuperMate is dedicated to simplifying SMSF so more Australians can control their super.