Bravura signs five-year deal with JPMorgan Chase
02 July 2009 | 1847 views | 0
(ASX: BVA/OTCQX: BRVSY) - Bravura Solutions (Bravura), a leading global supplier of wealth management applications and professional services, today announced JPMorgan Chase Bank, N.A. (J.P. Morgan) signed a five year contract to use Bravura's Rufus transfer agency platform.
The software license and managed services agreement represents a multi-year commitment from J.P. Morgan. J.P. Morgan (through its Worldwide Securities Services division) provides Transfer Agency services in Luxembourg and Dublin, and has announced its intention to launch UK Transfer Agency with J.P. Morgan Asset Management Marketing Ltd. as its first client. J.P. Morgan has an existing relationship with Bravura, which will now be extended through the J.P. Morgan Worldwide Securities Services' Transfer Agency offering.
"After conducting a review, we are pleased to build on J.P. Morgan's existing relationship with Bravura Solutions", said Susan Ebenston, Managing Director and Head of Global Fund Services at J.P. Morgan Worldwide Securities Services.
"This agreement represents a commitment from J.P. Morgan to continue work with Bravura on the development of the Rufus platform, with the aim of providing leading edge business propositions to the funds industry," said Simon Woodfull, Bravura Solutions' Group CEO and Director - Operations.
"The contract also demonstrates Bravura's capability in supporting the transfer agency industry across Pan-European markets," he said.
The implementation project will commence in August 2009 and continue until 2011. It is expected to contribute significantly to FY2010 and FY2011 revenues