Bravura Solutions Limited (Bravura), a leading global supplier of transfer agency, wealth management and life insurance software applications and professional services is pleased to announce that its Babel financial messaging application has been certified by the ATO to lodge superannuation tax file number (TFN) integrity check (Super TIC) transactions, as required by the government’s SuperStream reforms.
Super TIC is a service that allows funds to validate a members’ TFN and accompanying details, against the ATO’s client register. The requirement to use the service falls under the broader SuperStream data standards regulations that require all APRA-regulated funds and retirement savings accounts (RSA) to validate member details prior to processing a rollover request.
Bravura’s Chief Operating Officer, APAC, Jason Tong said: “Our position as a key provider receiving early certification stands testament to our commitment to helping our clients meet the complex SuperStream obligations, specifically data message management.
“We endeavour to maintain a position at the forefront of regulatory change to ensure our clients are supported and can make the necessary transitions in as smooth and efficient a manner as possible”.
Babel is a mature and proven solution that enables Australian superannuation funds to comply with SuperStream messaging requirements. It is pre-integrated with Bravura’s superannuation administration and contributions systems, and integrates with third party administration and workflow systems to support complex client environments. A flexible financial messaging system, Babel supports a wide range of integration models including files, native APIs, web services and message queues. It is a Java/Oracle solution that can be deployed locally or provided as a hosted solution.