Bravura Solutions commences scoping study with The Bank of New York Mellon

22 November 2007 Bravura Solutions commences scoping study with The Bank of New York Mellon

LONDON, United Kingdom; 22 November 2007 (ASX: BVA) Bravura Solutions (Bravura), a global supplier of wealth management applications and professional services, has commenced a four month scoping study with The Bank of New York Mellon, one of the world’s leading asset management and security services companies. 

The study aims to reveal how Bravura’s Global Transfer Agency (GTA) solution, Rufus, can better support the transfer agency business of The Bank of New York Mellon. An analysis of migration costs will also be undertaken. 

When complete, the scoping study will identify the full extent of the system development and data migration streams required to consolidate the business held on the two transfer agency platforms. 

Simon Woodfull, Bravura’s Group CEO & Director - Operations, said: “We are delighted that The Bank of New York Mellon, a key strategic client, has decided to undertake a scoping study with Bravura to determine if we can provide further services. 

“Our growing client base on the Rufus platform reinforces our leading position in the UK and European transfer agency sector.” 

The initial phase of the scoping study involves completing a full gap analysis along with a detailed data mapping exercise that is expected to be completed by the end of February 2008. In the event of positive findings, the scoping study could lead to the migration of the transfer agency book of business from The Bank of New York Mellon’s legacy platform to the Rufus software application. 

Work undertaken will focus on The Bank of New York Mellon administration offices based in London, Edinburgh, Pune and India.