Perpetual and Bravura roll out consolidated unit registry system

25 January 2008 Perpetual and Bravura roll out consolidated unit registry system

Sydney; 25 January 2008 - Bravura Solutions (Bravura, ASX: BVA) - a leading global supplier of wealth management applications and professional services - and Perpetual Limited (Perpetual) have completed the first stage of a major consolidation of Perpetual’s unit registry systems.

Perpetual is one of Australia’s leading fund managers with almost $40 billion in funds under management.

The project migrated Perpetual’s largest legacy system onto a single Service Oriented Architecture (SOA) platform. The new architecture delivers Perpetual a robust and scalable system that retains the functionality of its legacy systems.

Perpetual is the first client to implement Bravura’s Wrap application and utilise Sonata Business Services, which is an end-to-end business solution delivering full enterprise workflow management and document imaging across Perpetual’s entire back office.

Mr Eric Wang, Perpetual’s Chief Operating Officer, said the system migration represented the first step in delivering on Perpetual’s vision to create a single wealth management platform for its entire business.

“The new Bravura applications deliver enhanced functionality, which will introduce significant improvements across our banking, custody, funds management and compliance processes while also delivering significant savings and efficiencies to our business.

“Importantly, our customers across several funds will be able to receive a consolidated view of their investment positions for the first time,” Mr Wang said.

“The flexibility of Bravura’s product suite will smooth the transition between present and future system upgrades, resulting in minimal disruption to Perpetual’s operations with the introduction of new products.

“This will ultimately produce better customer service outcomes and faster market responsiveness,” he said.

Mr Simon Woodfull, Bravura’s Group CEO and Director of Operations, said: “We are excited to have completed this significant project with Perpetual, a key foundation client of ours.”

“Our Sonata suite has been designed to address some of the major issues facing the financial services industry, including legislative and regulatory changes, consolidation and new product development.

“This means financial services companies, both in Australia and overseas markets, will benefit from continually evolving, market-leading technology that is scaleable, cost-effective and far easier to operate than outdated, manually-intensive systems.

“We believe this transformation will deliver significant long-term benefits for Perpetual and look forward to continuing our strong relationship with one of Australia’s largest financial services providers,” Mr Woodfull said.