Bravura Solutions makes its mark with sale of Babel as Australia’s first ‘out-of-the-box’ SuperStream solution
Sydney 22 April 2013 – Bravura Solutions Limited (Bravura) is pleased to announce a five-year agreement with an existing government superannuation client, for the use of Bravura’s Babel software as a SuperStream messaging compliance solution.
Babel is the only SuperStream messaging solution available in Australia that provides ‘out-of-the-box’ SuperStream compliance with full straight-through-processing. Bravura’s Babel software enables full compliance with the new SuperStream regulations, which will require funds to exchange information electronically in industry-standard formats (ebMS/XBRL) by a 1 July 2013 deadline.
John Burke, Head of Strategic Accounts, Bravura Solutions said: “We are delighted to assist our client to become one of the first funds in the country to comply with the new SuperStream regulations.
“Babel will not only provide ‘day-one-compliance’ but also establishes a foundation for migration of business-to-business and business-to-government reporting to the new ebMS/XBRL messaging standard over time”.
Babel can be leveraged at a later date to include real-time reporting to other parties such as the ATO, investment managers and custodians, achieving outstanding levels of data quality and automation of what are currently manual, labour-intensive tasks.
Babel is a mature and proven solution that enables Australian superannuation funds to comply with SuperStream messaging requirements. It is pre-integrated with Bravura’s superannuation administration and contributions systems, and integrates with third party administration and workflow systems to support complex client environments. A flexible financial messaging system, Babel supports a wide range of integration models including files, native APIs, web services and message queues. It is a Java/Oracle solution that can be deployed locally or provided as a hosted solution.
Bravura’s Head of Strategic Accounts, John Burke was quoted in this press release. To ask John a question regarding the release or to discuss it in more detail, email PR@bravurasolutions.com