Bravura Solutions Limited (Bravura), a leading global supplier of financial services industry applications, is pleased to announce that it is now providing Sonata, Bravura’s modern, unified wealth management platform, via software-as-a-service – or “Sonata as a Service” – to Partners Life in New Zealand.
Naomi Ballantyne, Managing Director of Partners Life said: “Our strategy is to deliver industry-leading insurance products at competitive prices with great service. Bravura was a foundation partner at the launch of our business in March 2011 and has since played a vital role in enabling us to deliver this strategy and become New Zealand’s fastest growing life insurer. Bravura’s Sonata wealth management platform provides the operational efficiency, business agility and data integrity that underpin our successful business model.
“We have now chosen to further extend our success with Sonata and leverage Bravura’s extensive experience with managed services by engaging them to host, manage and maintain our Sonata platform. This new arrangement allows us to remain focused on supplying innovative insurance solutions while Bravura addresses many of our information technology needs. Since adopting Sonata as a Service in June 2013 we have seen continuous improvement in the performance, reliability and agility of our core software platform, enabling us to further accelerate business innovation and enhancing our competitiveness.”
Jason Tong, Bravura’s Chief Operating Officer for Asia Pacific said: “Bravura’s provision of Sonata as a Service to Partners Life perfectly aligns with the business strategies of both organisations. Partners Life, like many financial institutions, is seeking to refocus on core capabilities in customer service, product innovation and channel management; we enable this by providing powerful, next-generation software platforms delivered via software-as-a-service – alleviating the IT burden.
“Bravura now provides Partners Life with round the clock monitoring and management of the complete Sonata technology stack: wealth management application software, middleware, database and infrastructure. The Sonata as a Service offering includes regular upgrades so Partners Life always has the latest functionality and technology.”
Bravura has partnered with Revera, a leading New Zealand platform-as-a-service provider, to enable the delivery of Sonata as a Service for Partners Life. Revera’s virtualised Oracle infrastructure provides a cloud-computing fabric that Sonata is able to fully leverage.
Sonata is Bravura’s unified wealth management platform providing customer-centric administration of life insurance, superannuation, pension and wrap products. Sonata provides rich, proven business functionality delivered in pure Java and Oracle technology. The solution includes workflow, analytics, mobility and straight through processing capabilities.