Bravura Solutions Limited (Bravura), a leading global supplier of transfer agency, wealth management and life insurance software applications and professional services, is pleased to announce that it has signed a contract with existing client, VicSuper, one of Australia's fastest growing superannuation funds, for the use of Bravura's next generation administration software, Sonata, and ePASS, its online superannuation portal for members and employers.
VicSuper has selected Sonata as its primary registry system to deliver improvements to its operations and enhance the services it offers members. ePASS natively integrates with Sonata and will serve as VicSuper's employer contributions portal, as well as providing greater capacity for member engagement via online services including a mobile module.
Michael Dundon, Chief Executive, VicSuper said: "We chose Sonata and ePASS as part of a strategy to improve services to our members and position ourselves for aggressive growth in today's competitive superannuation market. In order to effectively achieve this, we need to operate at the highest level of efficiency and capability, as well as broaden the avenues through which we can engage with our members.
"Moving to this Sonata-ePASS solution allows us to reduce our operating costs by retiring a range of legacy applications, whilst simultaneously leveraging the rich functionality developed within these systems over the years. We can also bring new, sophisticated products and features to market quickly and cost effectively, allowing for rapid innovation, and at the same time benefit from better member engagement through heightened levels of online interactivity and visibility.
"VicSuper is a long-standing Bravura client and we have entrusted our business to Bravura's heritage superannuation systems for more than 15 years. This history, in addition to a very thorough and strategic pre-sales process, has allowed us to confidently move to the next generation in superannuation solutions".
Jason Tong, Chief Operating Officer, Global Wealth Management, Bravura said: "We are excited to partner with VicSuper to drive the elevation of its business to the cutting edge of administration and deliver the resultant benefits.
"The beauty of our administration offering is that it not only supports business needs today, but will continue to provide clients with access to ongoing local and global innovation through our Agile development model. This approach means that Sonata will continue to evolve to meet business needs well into the future".
The implementation project has been designed in partnership with VicSuper, mapping Sonata and ePASS' rollout in three phases over 18 months. This process will begin with mobile web, followed by SuperStream compliance for employers and finally full administration capability.
Sonata combines over 15 years of trusted software and rich functionality with modern technology. It provides an integrated solution with coverage for superannuation, pensions, life insurance, trust and wrap products. It delivers web access, workflow and real-time straight through processing.
ePASS is a highly configurable eBusiness solution that provides straight through processing for employer contributions and member transaction capabilities for a range of savings and retirement products.