Bravura completes implementation with Absa
Sydney / Johannesburg, 23 November 2009 (ASX:BVA / OTCQX:BRVSY) – Bravura Solutions Limited (Bravura) – a leading global supplier of wealth management applications and professional services – has successfully completed the phase one go-live of a major implementation with Absa Investment Management Services (AIMS), part of the Absa Investments business of the leading South African banking institution, Amalgamated Banks of South Africa (Absa).
Signing a five year deal with Bravura in 2007, AIMS’ existing multiple administration systems have been replaced with Bravura’s unit registry solution, TalisTrust, consolidating the applications onto a single platform. Bravura’s Talisman Business Services suite has also been utilised to give AIMS the flexibility to incorporate its own user front end and business logic modules.
Mark Kitching, Executive Director at AIMS, said: “This has been a significant project in terms of the complexity and challenges associated with consolidating onto a single platform. We have established a good working relationship with Bravura which we believe has been important with a project of this size and look forward to the other projects we have planned together for 2010.
“With the platform now in place, the growth of our business will be supported, in addition to the expansion and increased diversification of our product and service range,” he said.
TalisTrust forms part of Bravura’s Sonata Suite and is an investment application for administering wrap platforms, master trusts and retail / wholesale unit trusts. TalisTrust also provides a suite of business services delivering administrative capabilities across managed investment products. Offering a full range of investment strategies, the solution supports the full administration life cycle, from applications and transacting, through to customer servicing and reporting.
“AIMS new platform simplifies the administration environment, delivering time and cost savings,” said Tony Klim, CEO – EMEA, for Bravura.
“Our focus was to consolidate, simplify and reduce operational costs and provide opportunities for product add-ons and improvement. The success of our long-term partnership with AIMS reflects our commitment to ensuring our solutions meet requirements for this region and comply with South African legislation.
“We now have a proven solution for the South African market, and look forward to working with additional South African financial services organisations.”
The project implementation has involved staff from Bravura’s offices in Sydney, Auckland, London and Johannesburg, and went live in mid-November.