Technology
Bravura live on NZ bank

One of New Zealand's oldest banks has appointed Bravura Solutions' Sonata as the core administration platform for 500,000 retail and employer members.

ASB Bank's KiwiSaver, retail and group investments business will also use Sonata. More than 800,000 accounts with a total of $11 billion were migrated as a part of the implementation.

ASB Bank executive general manager of wealth Adam Boyd said the partnership with Sonata is an important step in the bank's evolution.

"Sonata's rich functionality and modern technical architecture will allow us to continue developing our digital capability and enhancing our customer experience, whilst also facilitating the continued scaling of our business," Boyd said.

"This is an important step in our evolution and we will continue innovating the products and services that we offer our customers."

Bravura Solutions chief operating officer APAC Jon Alder said: "We are delighted with the success of the Sonata launch at ASB. Bravura and ASB have collaborated as a cohesive team to deliver a complex transformation project in under one year. We look forward to seeing ASB leverage the increased levels of transaction process automation and operational efficiencies the platform provides."

Sonata rakes in more than half of Bravura's revenues.

For FY18, the Sonata platform business brought in $122.5 million - up 32% over previous year.

Bravura won new clients in UK, Australia, NZ and South Africa while investing $30 million in Sonata's development during the financial year - 71% of this was client funded.

Read more: SonataBravura SolutionsASB BankAdam BoydJon AlderKiwiSaver
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