MPSA — Summary of Changes
This document summarises the differences between Simpology’s Master Product and Services Agreement (MPSA) published at simpology.com.au/mpsa and the prior version of the MPSA published on the 5th March 2025.
Where a change is described as ‘Positive for Customer’, it represents an addition or modification that provides the customer with stronger rights, greater clarity, or additional protections compared to the prior terms.
Area | Clause | Summary of Change | Customer Impact |
New Definitions | Definitions | Four new defined terms have been added: Critical Incident, Critical Operations, Operational Risk, and Operational Risk Incident. These terms support the expanded APRA and operational risk obligations described below. | Neutral — clarifies scope of APRA-related obligations. |
Disengagement Services | Definitions | The definition of Disengagement Services has been expanded to expressly include data transfer as part of the disengagement process. | Positive for Customer — confirms Simpology will assist with data migration on exit. |
Agreement Hierarchy | Clause 3.1 | Two changes: (1) A sixth document type has been added — any reasonable direction by Simpology or as required by Law. (2) In the event of inconsistency between documents, applicable Law now takes precedence over the document hierarchy. | Neutral — aligns with standard regulatory expectations. |
Service Level Credits | Clause 9.2 | A new subclause clarifies that Service Level Credits do not limit the Customer’s rights to pursue other remedies available at law. The standard MPSA is silent on this point. | Positive for Customer — preserves legal remedies beyond the credit mechanism. |
Customer Data Use Restriction | Clause 10.1 | An express statement has been added confirming that Simpology must not use or disclose Customer Data except as permitted under the data licence in clause 10.1, or with the Customer’s prior written consent. | Positive for Customer — explicit data use restriction, not merely implied. |
Regulatory Compliance Assistance | Clause 10.6 (new) | A new clause requires Simpology to provide reasonable assistance, at the Customer’s cost, to enable the Customer to comply with its regulatory obligations. | Positive for Customer — particularly relevant for APRA-regulated entities. |
Regulator Access | Clause 25.1 | A new subclause requires Simpology to provide APRA and other applicable regulatory bodies with reasonable access to relevant information, systems and personnel to support the Customer’s regulatory compliance obligations. | Positive for Customer — strengthens APRA audit cooperation. |
Force Majeure Mitigation Duty | Clause 26 | A new sentence has been added requiring that a party relying on a Force Majeure Event must have taken reasonable steps to mitigate its impact, and must continue to perform all unaffected obligations. | Positive for Customer — limits scope for Simpology to suspend obligations broadly. |