Monteray executes licence agreement for its GPen system
Monteray announced today that a non-exclusive licence agreement has been executed with an Australian superannuation administrator for the use of GPen, its technically advanced superannuation administration system.
Monteray's Chairman, Mr. Graham Halbish, said this deal is expected to generate at least $1.4 million in revenues for the Company in the current financial year.
Mr. Halbish also said that Monteray is positioning the GPen system to take advantage of increasing market opportunities for administrators and self administered superannuation funds.
Our system provides members/employers with increased access to information in real time and enables the providers to reduce costs and increase operational efficiencies, Mr. Halbish said.
A key advantage of the GPen system is its native web open architecture structure. This allows easy customisation and cost efficient adaptable solutions for any country that maintains a retirement savings regime. This is in stark contrast to most other Australian key systems that are more than two decades old in their basic design structure.
Mr. Halbish also said that GPen provided an elegant solution to providers engaged in multiple business streams enabling them to use one system for superannuation, direct investments and other retirement saving products, rather than multiple platforms.