Funds to benefit from operational efficiencies and ability to deliver enhanced member experiences
Mercer, one of Australia’s largest providers of outsourced superannuation administration services, and a Bravura Solutions Pty Limited (Bravura) client for more than 20 years, has chosen Sonata, Bravura’s unified wealth management platform, to underpin a major transformation program in its benefits administration division.
After conducting a rigorous platform selection process, Mercer has chosen Sonata as the core platform technology to enable its next-generation service offering. Mercer will combine its deep expertise in wealth administration with Sonata’s modern, scalable technology to deliver clients a sustainable competitive advantage powered by continuous innovation.
Sonata will support a new, highly-efficient administration service targeted at accumulation funds seeking an engaging, personalised experience for members and employers, backed by automated, straight through business processing. Mercer’s new platform is highly configurable and will meet the needs of individual funds, employers and investors.
Mercer Managing Director & Pacific Market Leader, Ben Walsh said: “We are delighted to be partnering with Bravura on this ground-breaking project. Mercer intends to leverage Sonata to modernise our current administration platform and also support significant new books of business. Bravura is a trusted, capable, long-term partner to Mercer, with a proven delivery and implementation track record.
“Ensuring the highest standards of member and customer service is a top priority for our benefits administration business. In this digital age, Bravura’s Sonata wealth management platform with its modern mobile, web and messaging capabilities, will play a critical role in the achievement of our business objectives.
“Mercer is looking forward to offering innovative, client-centric administration solutions to the Australian superannuation industry. Fund members and employers will gain convenient real-time access to their accounts via desktop, laptop and mobile devices. Members will be able to view their account balances, transaction history and investment performance, change investment strategies and update personal details – anytime, anywhere.”
Bravura APAC Managing Director, Roland Slee said: “We are extremely pleased to be providing our state-of-the-art wealth administration technology to Mercer. The decision to adopt Sonata will see Mercer become the first established superannuation administration provider in Australia to leverage a truly modern and global, commercial-off-the-shelf platform.
“With the ability to offer funds, employers and members an efficient, scalable and affordable solution, Mercer continues to be a force to be reckoned with.”
Acting as a third party administrator, Mercer will use Sonata to administer multiple books of superannuation and KiwiSaver business for clients across Australia and New Zealand.
Sonata provides rich, proven wealth management functionality, developed and delivered in modern technology with open interfaces. It is an integrated platform that supports superannuation, pensions, KiwiSaver, life insurance, trust and wrap products, and includes web services and workflow capability.