Multi-year agreement with Lloyds Banking Group
Sydney / London, 31 December 2009 (ASX: BVA / OTCQX: BRVSY) – Bravura Solutions Limited (Bravura) – a leading global supplier of wealth management applications and professional services – has further strengthened its relationship with Lloyds Banking Group (LBG) – the UK’s largest retail bank – through the signing of a strategic multi-year agreement.
Under the agreement, Bravura will provide a hosted service to support LBG’s bank and IFA channels, as well as implementation services and ongoing support through to 2015.
Already an existing Bravura customer, the LBG agreement provides a back office solution for registry services, OEICs (Open-Ended Investment Companies – similar to unit trusts) and ISAs (Individual Savings Accounts), and services multiple distribution channels, including Bancassurance and Independent Financial Advisors.
Speaking on the agreement, Tony Klim, CEO – EMEA at Bravura, said: “This is a significant milestone for Bravura and emphasises the commitment we have to our client base.
“A program of this size and complexity is only made possible through building a strong partnership with your customer base and having an unwavering focus on cost efficiency and operational effectiveness, from the planning stages, right through to the completion of the project,” he said.
Paul Penney, Strategic Change and IT Director, Lloyds Banking Group, commented: “Our long-term working partnership with the Bravura team will allow us to focus on continuous improvement of the services we provide.”
Bravura also works with subsidiaries of Lloyds Banking Group, including Scottish Widows and Clerical Medical.