Bravura Solutions Limited (Bravura) - a leading global supplier of transfer agency and wealth management software applications and professional services - today announced a significant ten year deal with BNY Mellon.
The contract will see BNY Mellon continue the consolidation of its transfer agency technology onto Bravura's platform across its European securities servicing business.
Jon Willis, Head of EMEA transfer agency services at BNY Mellon said, "We are delighted to extend our already well-established partnership with Bravura. Our strategic aims are perfectly aligned and will support the development of both businesses providing value added benefits to our clients and prospects in this dynamic market place, which is challenging all providers to take a more global view whilst also reacting to more local regulatory and industry challenges."
The agreement includes a contract extension for Bravura's global, cross-border TA platform, Rufus, which is already used by BNY Mellon for multi-currency and multi-jurisdictional global fund distribution. In addition, BNY Mellon will deploy Babel, Bravura's STP messaging platform and Bravura's taWeb real-time portal, which provides third-party administrators, fund managers and their distribution communities with online access to consolidated investor transactional data across multiple back-office systems.
"We are proud of our proven partnership with BNY Mellon and are thrilled that one of the world's leading financial institutions has decided to extend the use of Bravura's technology and services," said Andy Chesterton, Global Chief Operating Officer Transfer Agency at Bravura."
"This contract is a demonstration of our company-wide ability to provide a range of integrated services and products. With a shift in the relationship between transfer agency, wrap platforms and distribution, well-delivered investment administration services can improve client service and increase assets under management. Innovative technology solutions that add value have a key part to play."
The deal also includes ongoing professional services work and a managed hosted service agreement.