In collaboration with ANZ, Oban has successfully demonstrated an employer paying member SuperStream contributions directly to their respective Funds via RBA's CBDC (Central Bank Digital Currency) without the need for an intermediary bank account. A process that typically takes many days can now be performed in a matter of minutes.
Because Oban's payment gateway receives a notification when a Fund wallet has been credited, money/data is reconciled prior to sending a SuperStream CTR message to the Fund's registry provider. This allows the Fund's registry provider to comfortably allocate contributions to the members account on receipt of the SuperStream message thus removing the need for overnight contribution allocation batch jobs.
Furthermore, Oban demonstrated two methods of sending SuperStream messages; 1) using the STN (Superannuation Transaction Network), and 2) a direct connection to a Fund's registry using the same AS4 secure messaging transport mechanism that underpins the STN.
Please refer to the video of the CBDC presentation for details of the demonstration.