Under the initial three year deal, Bravura will provide secure hosted applications to support the re-launch of Norwich Unionâs high net worth wrap proposition. The project comprises a licence fee as well as implementation, maintenance and hosting services. It is expected to generate several million dollars of revenue over the initial period of the agreement.
The venture brings together Bravuraâs state-of-the-art technology and the market leading efficiency and skill base of Scottish Friendly.
Fiona McBain, CEO of Scottish Friendly, said: âWe very much look forward to growing our business in collaboration with Bravura through the provision of enhanced wrap services and capabilities for Norwich Unionâs high net worth wrap propositionâ.
Bravura provides a suite of wealth management products to support the administration of wrap accounts, retirement savings and investments. The product is used by investment managers, banks, and product administrators to administer client holdings in the United Kingdom, Australia, New Zealand, and Asia.
âBravura is delighted to have been chosen to work with Scottish Friendly to provide this installation for Norwich Union. It further extends the use of the Bravura wrap solution and will see Norwich Unionâs customers provided with enhanced services and capabilities,â said Tony Klim, EMEA CEO at Bravura Solutions.
âThis will cement our position as a leading platform provider in the UK marketâ, Klim added.