Sydney, 8 November 2010 (ASX: BVA) – Bravura Solutions Limited (Bravura) – a leading global supplier of transfer agency and wealth management software applications and professional services – today announced the official launch of Sonata, its next generation wealth management administration software.
Combining over 15 years of leading and trusted software with the advantages of modern and scalable technology, Sonata provides a complete solution to an organisation’s wealth management administration needs.
Sonata life insurance functionality is currently available for global delivery and implementation, followed by functionality for investment, superannuation and pensions to be delivered in the coming months.
Simon Woodfull, Group Chief Executive Officer of Bravura Solutions, said: “With the official launch of the life insurance functionality of Sonata, we have entered an exciting period in Bravura’s history. Sonata takes our existing market leading software and combines it with the advantages of modern and scalable technology – including Service Oriented Architecture (SOA) – in what we believe represents a benchmark solution in the industry.
“Sonata has already generated significant interest within the market and we are currently in discussions with existing clients for the delivery of Sonata across the wealth management product range. Its ability to automate and streamline most common processes can offer organisations sustainable competitive advantages through operational cost savings, higher productivity, enhanced customer service and vastly improved speed to market for new products.”
Sonata is a flexible and functionally rich application that offers a complete solution for life insurance organisations. It incorporates all aspects of the policy management lifecycle from providing insurance quotes and capturing new business, through to claims processing.
“One of the key benefits of Sonata is its flexibility. For example, the integrated workflow management feature enables users to easily configure, measure and change insurance workflow processes. In addition, Sonata’s SOA and web services mean that the product is easily integrated with other systems, and enables direct connection with a range of distribution channels, including banks, agents, brokers and financial advisers.
“We intend to invest significantly in future research and development, as well as functionality upgrades in response to industry and regulatory trends, to ensure Sonata remains leading edge,” said Mr Woodfull.
Bravura’s Sonata platform will be demonstrated at the annual ASFA Conference and Super Expo 2010, Adelaide Convention Centre, 10 – 12 November 2010.