Bravura scores platform deal

Bravura Solutions won an administration platform mandate from an Australian investment and life insurance company.

Garradin, Bravura's investment management and portfolio administration platform will support the Foresters Friendly Society's funeral bond and insurance policy business.

Foresters provides investment and insurance products such as friendly society bonds, funeral bonds, and death and distress benefit funds. It supports a large network of Australia's funeral directors through the provision of funds management for pre-paid funeral plan products and funeral bonds.

Foresters recently embarked on a new phase of innovation and growth, and will use Garradin to enhance its digital capabilities for members and its funeral director networks.

Bravura Solutions chief operating officer for APAC Jon Alder said: "We are delighted to partner with Foresters on this key initiative. We look forward to Foresters leveraging Garradin's comprehensive functionality to grow its investment and insurance capability to deliver an enhanced member experience."

Foresters chief executive Craig Bell said: "We chose Garradin as part of a wider growth and innovation strategy, with a focus on investing in pioneering technology that will enable us to deliver state-of-the-art products and services to support our valued clients."

In December 2017, Bravura inked a new deal with New Zealand financial services provider ASB Bank.

The Commonwealth Bank subsidiary will use Bravura's Sonata platform across its operations under the long-term contract, which includes KiwiSaver and a variety of product offering; investments, insurance, platform and securities markets.

Sonata is a wealth management solution capable of supporting investment, wrap, pension and life insurance products across multiple distribution channels.

In a statement to the ASX, ASB says it intends to leverage Sonata to underpin its KiwiSaver and managed fund business to "provide outstanding customer outcomes and experiences."

Read more: BravuraGarradinSonataKiwiSaverASB BankCraig BellForesters Friendly SocietyJon Alder
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