Taskforce will widen customer base and identify future growth prospects
Bravura Solutions Limited (Bravura) (ASX: BVA) – a leading global supplier of transfer agency and wealth management software applications and professional services – today announced the formation of its new propositions team. The taskforce will focus on the development of client-centric propositions to drive growth in the current challenging economic environment.
In an industry that is being transformed by a changing regulatory landscape and consolidation, the team is tasked with integrating market trends and customer insight into future product innovation and strategy. With a shift in the relationship between transfer agency and distribution, and an expected convergence towards third-party administrators in the wrap platform market, Bravura will continue to focus on these areas, whilst exploring further opportunities in complementary markets.
Heading the group, Nick Parsons, Global CTO, Bravura said, “Establishing the team is a strategic move after a period of consolidation following a number of acquisitions. We are aiming to expand the business by increasing our reach, capabilities, customer base and pool of potential clients. A number of key initiatives have already been identified, driven by the need for organisations to operate efficiently on an increasingly global basis. With extensive market knowledge, I’m confident the team will exceed expectations.”
Joining the taskforce is Tricia Riddell, Global Head of Product for Transfer Agency and Eric Welsby, Principal Wrap Consultant for the EMEA region. Both bring years of industry expertise in their respective fields.
Riddell said, “This is an exciting challenge and an opportunity to shape Bravura’s future growth. The position of transfer agency in the value chain will continue to adapt, with a move to support distributed services with a broader wealth management proposition. The opportunity exists for transfer agents to move up the value chain, developing services beyond traditional record keeping, to manage the changing nature of distribution. Our clients look to us for functionally rich and efficient technology, and the team will ensure we are well placed to meet their evolving requirements. Eric and I are looking forward to our new roles.”
Whilst still retaining responsibility for the product management team at Bravura, Riddell will now focus more of her time on propositions. In order to facilitate this, Aubrey Nestor has stepped up from his present Product Manager role for Rufus. He now takes overall responsibility for the product management of all of Bravura’s transfer agency offerings and related systems.