Sydney, 6 May 2010 (ASX: BVA) – Bravura Solutions Limited (Bravura) – a leading global supplier of wealth management applications and professional services – has extended its existing contract with UniSuper to licence Bravura’s ePASS solution for use by participating employers for a five year term. UniSuper is the industry super fund for Australia’s higher education and research sector.
In 2008, UniSuper purchased a five-year license for Bravura’s ePASS solution for use by its non-participating employers. These employers make superannuation contributions on behalf of former university employees.
ePASS will now be progressively rolled out to participating employers that contribute on behalf of current university employees.
Terry McCredden, UniSuper’s CEO, said “ePASS gives UniSuper the ability to both streamline the contribution process for employers and to reduce our administrative overheads.”
ePASS is a single online service that can be used across a range of different savings and retirement products. It allows superannuation providers to deliver online services to employers, members and advisers, reducing administrative costs for processing contributions.
“Extending the ePASS solution at UniSuper will contribute significant reductions in administrative overheads. It will also improve the fund’s accuracy and efficiency when processing member contributions,” said Simon Woodfull, Group CEO at Bravura Solutions.
“Through its intuitive online interface, contributions received through ePASS can be promptly credited to UniSuper’s member accounts, minimising the complexity involved with in processing and receipting contributions,” he said.