Bravura continues South African growth, signing major deal with Discovery

Sydney, 9 November 2017 – Bravura Solutions Limited today announced it has signed a long-term contract with Discovery Limited (Discovery) for the implementation of its Sonata platform. Sonata will support the launch of Discovery’s new corporate savings vehicle (umbrella fund) and institutional risk products.

Discovery is a global integrated financial services organisation that uses its pioneering Vitality Shared Value insurance model across businesses. In addition to South Africa, Discovery has a presence across 16 countries spanning North America, the United Kingdom, Europe, and Asia. It serves close to 10 million customers in health administration and managed care, long and short-term insurance, asset management, savings, investments and employee benefits.

Sonata is a next-generation wealth management solution, capable of supporting investment, wrap, pensions and life insurance products across multiple distribution channels. It provides clients with a “customer centric” solution that helps streamline administration, increase cost efficiencies and facilitate compliance with ongoing regulatory changes.

On choosing to work with Bravura, Kenny Rabson, CEO, Discovery Invest said: “We selected Sonata after a comprehensive search and evaluation process. As a next generation technology with a proven global capability, Sonata was the natural choice for supporting the innovative umbrella funds that we are launching into the corporate savings market.”

Commenting on the deal, Tony Klim, CEO, Bravura Solutions said: “We are delighted that Discovery has chosen Sonata as its next generation administration platform to underpin their innovation and growth ambitions. We look forward to a long and successful partnership going forward.”

“This is the second major contract Bravura has won in South Africa in less than 12 months and will be Bravura’s third customer in the region, consolidating Bravura’s presence in this targeted market and reinforcing Sonata’s position as a market leader in corporate retirement savings technology.”

Bravura’s CEO, Tony Klim was quoted in this press release. To ask Tony a question regarding the release or to discuss it in more detail, email PR@bravurasolutions.com.

@BravuraFinTech
on Twitter

Posted 9 days ago

If you are interested in reading further analysis from our #OpenBanking roundtable, mentioned in this article, the… https://t.co/XVRNMPM8NQ

Posted 35 days ago

Hear @BravuraFinTech's insights in the @superreview feature article: https://t.co/bB1k6VPxIA

Posted 40 days ago

Our London office celebrated Christmas "Vegas' style" last night. Elvis is alive and well...just changed profession… https://t.co/m76C7R1yd7

Posted 41 days ago

RT @nucleuswrap: Where has 2018 gone? Have a look back over the most-read articles written by advisers this year, featuring themes such as…

Posted 41 days ago

Our team in Johannesburg recently moved into a new office space. The SA market is strategically valuable to Bravur… https://t.co/ZWQWVfKO28