Since inception in 2004, Bravura Solutions has amassed an impressive list of achievements and milestones.
We have successfully completed nine acquisitions, listed on the ASX and launched new products. Since our humble beginnings as a small Australian organisation, we have expanded to become a leading global supplier of software and professional services for superannuation, pension, life insurance, investment, private wealth, transfer agency and financial messaging, employing over 700 people in 16 offices across 10 countries.
Our vision is to create and deliver modern, open, agile business solutions that provide an enduring competitive advantage to clients by combining compelling functionality with modern technology.
Our mission is to provide an offering that comprehensively satisfies client requirements across multiple geographies and lines of business, delivering economies of scale alongside business agility.
Our day-to-day operations – across geographies, offices, departments, teams and individuals revolve around the pursuit of this vision and mission.
Bravura Solutions was established with the acquisition of the wealth management business unit of CSC Australia Pty Ltd. The organisation began with three Australian offices, three products and 72 employees.
In 2005 we acquired Syscorp and along with it, its investment management product and expert team.
In 2005 we acquired the Tacit Group based in Australia, New Zealand and the UK. This aquisition expanded our operations outside of Australia, providing us with a global footprint in addition to a market leading wealth management software application and team.
This acquisition demonstrated that we were on track with our strategy to grow by acquiring businesses that enhanced our existing capabilities, particularly in the unit trust and life insurance applications space.
In 2006 we acquired Australian company, Essential Computer Systems. This acquisition provided us with our superannuation eBusiness offering, ePASS, and the team that develops and manages it.
Essential’s products, technologies, people and experience were an important addition to our then emerging eBusiness focus.
2006Listing on Australian Securities Exchange
In 2006 Bravura Solutions listed on the ASX under the ticker symbol BVA.
The Company’s future growth strategy at the time was focused on a number of market opportunities in the UK and Asia, and a public listing provided us with an appropriate capital structure to achieve that outcome.
A listed vehicle also provided interested parties easy access to our financial information and corporate governance guidelines.
In 2006 we acquired the Rufus Software business from the Bank of New York (now the Bank of New York Mellon) in the UK, as well as the team that develops and mangages it. This acquisition significantly expanded our global footprint, as well as opening up the transfer agency market to us.
The acquisition gave us scale in the UK market, and access to software with features and functionality that could support a broad range of European fund structures. The Bank of New York’s software business also brought with it access to new financial services clients, skilled and experienced staff and complementary applications.
2006AB Prodata acquisition
In 2006, we acquired Luxembourg-based AB Prodata and it’s Babel financial messaging software. This software allowed us to further service the transfer agency market in Europe, and today the superannuation market in Australia.
The AB Prodata acquisition dovetailed with our Rufus acquisition. The Rufus global transfer agency system had been integrated with AB Prodata’s Babel platform for several years. Together the two products created one of the most functionally rich platforms on the market.
2007Opened Bangkok office
In March 2007 we opened an office in Bangkok, Thailand in response to increased growth in the region.
The decision to further expand our presence in Asia is a direct result of the demand we are seeing in the region for world class applications and services.
In 2007 we acquired Australian private wealth and portfolio administration application, Garradin, as well as the team that develops and manages it.
We pursued Garradin because of its retail portfolio management expertise with separately managed accounts and individually managed accounts. Garradin strengthened our strategic position in the managed accounts market, as well as reinforcing our position as a leading application provider for wrap.
In 2008 we signed an outsourcing agreement with Citi for the acquisition of its transfer agency software, GTAS, as well as the team that develops it in Poland. The acquisition further expanded our footprint in Europe.
This agreement represented a significant step in furthering our geographical and product reach.
The relationship assisted us in growing our customer base, increasing the scope of our product range and increasing our capability to deliver to our customer’s sophisticated and growing requirements.
In 2010 we acquired Mutual Fund Technologies (MFT) from Fidelity International. The acquisition allowed us to expand our transfer agency offering with MFT’s GFAS application, as well as bringing across the team that develops it. This acquisition also provided the seed team for our development centre in Gurgaon, India.
The acquisition of MFT was key to our increasing presence in the transfer agency market, placing us in a strong position to grow our European Transfer Agency footprint.
2010Officially opened Warsaw office
In January 2010 we officially opened an office in Warsaw, Poland to better service European clients and house a dedicated Transfer Agency resource pool.
Our Warsaw facility plays an important role in Bravura's global development, as well as providing additional support for a variety of products. Creating strong operational foundations in Poland allows us to work more closely with European clients, capitalise on opportunities in the developing Central and Eastern European financial markets and create a robust development and support base for Bravura's global operations.
In 2010 we officially launched our flagship wealth management and life insurance product, the next generation software solution, Sonata.
The official launch of Sonata marked the beginning of an exciting period in our history. Sonata took our existing market leading software and combined it with the advantages of modern and scalable technology – including Service Oriented Architecture (SOA) – in what represented a benchmark solution in the industry.
2011First Sonata implementation
In early 2011 we implemented Sonata with its first client, New Zealand life insurer, Partners Life. We implemented with Partners Life in just four months, and it wrote its first million dollars in premiums within three weeks of going live.
After extensive market analysis, Sonata was selected as the best administration solution to help achieve operational and cost efficiencies whilst also delivering an excellent service to customers and advisors; the key challenge facing the industry today.
2011Official opening of Gurgaon office
In September 2011, we officially opened an office in Gurgaon, India to cost effectively deliver enhanced client service levels; increase development and testing capabilities, and improve help-desk service and turnaround times for client requests and enquiries.
Expanding and focusing our support and development capability allowed us to more effectively meet client demand. We now have a dedicated team of resources that can quickly respond to increases in product development requirements.
2012Launched Babel for SuperStream messaging
In 2012 we launched Babel in the Australian superannuation market for SuperStream compliant messaging.
Babel has been configured to manage all inbound and outbound communications for SuperStream and Standard Business Reporting (SBR) messaging. Babel can provide a fund with message and file compliance that is maintained to support regular changes in superannuation legislation.