MUFG Pension & Market Services Acquires Moneysoft

2 October 2024: MUFG Pension & Market Services, a global leader in retirement solutions, announced it has acquired 100 per cent of Moneysoft, the Australian digital solutions provider for financial planners, money coaches, mortgage brokers and retirement funds.

Moneysoft has become part of the MUFG Retirement Solutions business, a division of MUFG Pension & Market Services. Moneysoft’s technology platform and dynamic money management approach enhance business efficiency and individual financial wellbeing by offering a single view across financial data with real-time information for effective budgeting, cash-flow management, and household finance control.

Dee McGrath, Chief Executive Officer, MUFG Retirement Solutions, said:

“The decision to acquire Moneysoft reflects our commitment to innovation and continued investment in becoming the best-of-breed services provider in the global pension and superannuation industry.

Moneysoft’s cloud-based capabilities in Open Finance and the Australian Consumer Data Right, Financial Planning System integration and financial advice automation will provide our clients the ability to create powerful, meaningful engagement with their members – especially at critical moments such as retirement planning. Our clients will benefit from the ongoing innovation delivered through the platform and an expansion in the number of value-enhancing services available for their members through multiple digital channels”.

Jonathan Shaw, Chief Product Officer, MUFG Retirement Solutions, said:

“Moneysoft services financial advisors and funds through existing SaaS lines of business focused on wealth and finances in both the direct-to-consumer and financial advice sectors. This provides an opportunity to continue to expand our offering to superannuation, particularly in the 3rd-party advice channel, the challenges of the Retirement Income Covenant, and international growth opportunities.

We intend to further integrate Moneysoft technology into the overall MUFG Retirement Solutions product portfolio, with the existing consumer-facing Personal Finance Management and Micro- investing applications becoming features of our member-facing digital offerings, including the retirement-focused Pathfinder platform. This will continue to enhance the member experience, while also helping to build a stronger connection between the fund and their members. Moneysoft technology will also improve our data modelling and analytics, AI, scaled financial advice, retirement income solutions, and identity verification services through Open Banking, increasing the overall value and capability of our services offerings”.

The acquisition was finalised on 9 September 2024.

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Media contact

Nick Howe, GRACosway, +61 407 183 221, nhowe@gracosway.com.au
Molly Osborne, GRACosway +61 487 744 475, mosborne@gracosway.com.au

About MUFG Pension & Market Services 

MUFG Pension & Market Services is a global, digitally enabled business that empowers a brighter future by connecting millions of people with their assets – safely, securely and responsibly.

Through our two market leading businesses, MUFG Retirement Solutions and MUFG Corporate Markets, we partner with a diversified portfolio of global clients to provide robust, efficient and scalable services, purpose built solutions and modern technology platforms that deliver world class outcomes and experiences.

A member of MUFG, a global financial group, we help manage regulatory complexity, improve data management and connect people with their assets, through exceptional user experience that leverages the expertise of our people combined with scalable technology, digital connectivity and data insights.