Bravura Solutions Pty Limited (Bravura) is pleased to announce that Tech Mahindra has licensed Sonata, Bravura’s modern, unified wealth management platform.
Tech Mahindra, a leading international provider of ICT solutions and services, has been contracted by Perpetual Limited (Perpetual) to provide registry services. Bravura and Tech Mahindra will collaborate to migrate Perpetual’s registry platform to Sonata from Talisman, one of Bravura’s heritage wealth management applications. Sonata will be employed to record and manage investor, adviser, dealer and product details for Perpetual’s retail and wholesale funds, incorporating its investment and superannuation funds.
Rohit Gandhi, Head Asia Pacific, India, Middle East & Africa, Tech Mahindra said: “We selected Sonata as it provides proven, mature business functionality for Australian wealth management, coupled with modern, service oriented architecture technology, enabling outstanding performance, availability, security and data integrity”.
Roland Slee, Bravura’s Managing Director – APAC, said: “As the industry turns increasingly to technology as an enabler of business growth and simplification, Sonata’s rich functionality and modern technology positions it well as the solution for wealth managers going forward.
“This deal demonstrates the rapidly growing popularity of Sonata, and we are poised for this growth. We are drawing on and expanding our partner relationships, and have made over 100 new hires in the last 12 months to focus on high quality delivery”.
This arrangement between Bravura, Tech Mahindra and Perpetual reflects a growing industry trend. A number of Australian wealth management institutions are seeking modernisation and operational services of the type Tech Mahindra is providing, underpinned by leading edge technology such as Bravura’s Sonata.
Sonata is Bravura’s unified wealth management platform providing customer-centric administration of superannuation, pension, investment, wrap and life insurance products. Sonata provides rich, proven business functionality delivered in Java and Oracle technology. The solution includes workflow, analytics, mobility and straight through processing capabilities.