Bravura Solutions Pty Limited (Bravura), a supplier of transfer agency, wealth management and life insurance software applications is pleased to announce that Trustees Executors Limited, New Zealand’s largest supplier of third party back office financial services, has selected Sonata, Bravura’s unified wealth management platform, via a managed service arrangement, to replace its current installation of Talisman, one of Bravura’s heritage wealth management applications.
With its growing business and customer demand for online capabilities, Trustees Executors Limited required an established technology partner that could deliver an enhanced registry proposition. Sonata was selected to fulfil these imperatives and to provide greater efficiency, improved services and better web-enabled access to data and functionality. Bravura is a long-standing technology provider in New Zealand, with more than 50 per cent of all KiwiSaver accounts being administered on Bravura platforms.
Tom Hoey, Group Executive, Trustees Executors said: “After an extensive market evaluation process we selected Bravura and its Sonata software. Sonata’s functionality and its strong presence in the New Zealand market were critical factors in our choice.
“Sonata provides us with a modern, scalable solution and supports a broad range of New Zealand market requirements including KiwiSaver, PIEs and unit trusts.
“The provision of 24x7 web access to customers requires high levels of technology integration, infrastructure, support and management, so Bravura’s ability to provide Sonata through a ‘Software as a Service’ model was key in our selection. A fully hosted managed service delivery approach allows us to focus on pursuing excellence in our core business. The arrangement also means that the software and infrastructure supporting our registry business will be expertly managed by Bravura – the same team that developed and implemented Sonata”.
Bravura has a robust support framework in New Zealand, with a local team of more than 70 people. Bravura’s Auckland office is one of the organisation’s eight global development centres and much of Sonata’s development is led from New Zealand.
Roland Slee, Managing Director - APAC, Bravura said: “We are delighted that Trustees Executors has chosen to enter into a new phase in its partnership with Bravura. Trustees Executors and Bravura have been doing business together for 10 years now. This mutual knowledge and commitment sets us up well to begin a new era based on Sonata. Trustees Executors’ third party service, underpinned by Sonata’s leading edge technology and functionality, presents the market with a unique and compelling business proposition.
“Sonata has been gaining significant global momentum, as wealth managers and life insurers recognise Sonata’s technical and functional superiority, evidenced by four new sales in Australia and New Zealand in the last ten months. We have prepared well for this growth with over 100 new hires in the last year, as well as engagement with various external partners to ensure high quality delivery and implementation"