Bravura Solutions Limited (ASX:BVS) (Bravura): Bravura Solutions Limited (Bravura) today announced that ASB Bank (ASB) has gone live on Sonata as its new core administration platform for ASB’s KiwiSaver, retail and group investments business.
Sonata provides ASB – which serves over 500,000 retail and employer customers in the KiwiSaver, investment, insurance, platform and securities markets – with the core registry platform that also enables the delivery of innovative real-time digital offerings to customers.
The Sonata implementation involved migrating 800,000 accounts, and a total of NZ$12 billion of funds under management. Sonata enables ASB to offer a comprehensive range of wealth products including KiwiSaver, superannuation master trusts, retail and wholesale investment funds.
Adam Boyd, Executive General Manager of Wealth at ASB Bank said: “ASB has partnered with Bravura on this key initiative for the bank. 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. This is an important step in our evolution and we will continue innovating the products and services that we offer our customers.”
Jon Alder, Chief Operating Officer APAC at Bravura Solutions 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.”
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