Bravura signs with major fund administrator

Bravura has penned a new deal with a leading Australian fund administration outsourcer.

The deal will see the organisation implement Bravura's Australian tax solution.

The organisation will leverage the tax platform to generate new operational efficiencies and enhance customer service delivery.

Bravura said the fund administrator is a leading specialist provider, but did not name the organisation.

The implementation will commence this year.

Bravura's tax platform caters for all aspects of Australian tax administration and offers extensive asset coverage.

The platform allows for optimised reporting and calculations.

Bravura product and propositions director for APAC Jason Tong said: "As the most comprehensive tax solution in the Australian market, Bravura's extensive tax functionality enables us to assist businesses in realising growth opportunities."

"Our modern and open tax platform, with its proven and mature functionality, means we are well-placed to support their ambitions to drive change and shape the funds landscape in Australia."

In August, Bravura acquired Midwinter Financial Services for a total consideration of $50 million.

The deal opened an avenue for growth in Australia, the UK and other regions where Bravura already operates.

In Bravura's annual results this year it reported strong performance across all business divisions. Group revenue for the full year increased by 16% to $257 million, with an NPAT of $32.8 million - up 21% year on year.

Wealth management revenue increased 14% to $176 million, while the funds administration division saw $80.9 million. Bravura said the funds administration result was boosted by the signing of a significant global client.

Read more: BravuraAustraliaAPAC Jason TongMidwinter Financial Services
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