Bravura Solutions (Bravura, ASX: BVA) – a leading global supplier of wealth management applications and professional services – has unveiled Sonata Business Services, a new Service Oriented Architecture (SOA) compliant application.
Perpetual Investments (Perpetual) will be the first recipient of Bravura’s SOA application as part of its Unit Registry consolidation project.
Sonata Business Services will introduce over 100 business services designed to facilitate the smooth integration of Bravura’s product administration application into its customers’ existing software architectures. Sonata Business Services can be utilised individually or as a package, offering enterprises the flexibility to select components that are most relevant.
Mr. Eric Wang, Perpetual’s Chief Operating Officer said: “Bravura’s application suite will deliver Perpetual enhanced functionality and significant benefits across core activities such as banking, custody, funds management and compliance.
“The new application will promote better interaction with internal business systems and external business partners using widely accepted standard message protocols. This will ultimately improve Perpetual’s responsiveness and lead to better customer service outcomes.
“The flexibility offered by Bravura’s product suite will enable Perpetual to introduce new product developments in years to come with minimal disruption to existing applications.”
Mr. Simon Woodfull, Bravura’s Group CEO and Director of Operations said: “We are excited to launch our SOA compliant product administration application with Perpetual as our cornerstone client.
“Legislative and regulatory changes, consolidation and new product development to cater for an aging population, are just a few of the challenges being faced by the financial services industry. Therefore, it is important to have an application that assists the business to respond to these challenges rapidly.
“Bravura’s SOA solution will reduce the time and costs of adapting business architectures, resulting from the dynamic financial services industry.”
The implementation project for Sonata Business Services is in the final stages of testing and is expected to be placed in production this calendar year.
In addition to Sonata Business Services, Bravura will release Sonata Business Intelligence (SBI); a data warehouse and analytical reporting solution. This application will facilitate management reporting and the analysis of investment and insurance data.